C.M. DEVAND: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
C.M. DEVAND
Largest movements
- Tangible fixed assets -€10,794
down €10,794 (-9.9%), from €108,991 to €98,197
- Receivables within one year -€2,830
no longer reported in 2025 (was €2,830)
- Cash +€1,656
up €1,656 (+8.0%), from €20,657 to €22,313
mainly Depreciation (+€10,794) and Receivables within one year (+€2,830)
- Profit (loss) carried forward -€6,442
down €6,442 (-28.7%), from €22,429 to €15,987
- Debts after one year -€6,392
down €6,392 (-7.7%), from €83,444 to €77,052
- Taxes +€3,508
up €3,508 (+125.5%), from €2,795 to €6,303
- Gross operating margin +€2,301
up €2,301 (+18.3%), from €12,593 to €14,894
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,491 | €122,998 | -€12,493 | -9.2% |
| Fixed assets | 21/28 | €110,796 | €100,002 | -€10,794 | -9.7% |
| Tangible fixed assets | 22/27 | €108,991 | €98,197 | -€10,794 | -9.9% |
| Land and buildings | 22 | €97,800 | €94,000 | -€3,800 | -3.9% |
| Plant, machinery and equipment | 23 | €732 | €99 | -€633 | -86.5% |
| Furniture and vehicles | 24 | €8,196 | €4,098 | -€4,098 | -50.0% |
| Other tangible fixed assets | 26 | €2,263 | €0 | -€2,263 | -100.0% |
| Financial fixed assets | 28 | €1,805 | €1,805 | = | 0.0% |
| Current assets | 29/58 | €24,695 | €22,996 | -€1,699 | -6.9% |
| Amounts receivable within one year | 40/41 | €2,830 | - | -€2,830 | |
| Trade receivables | 40 | €2,830 | - | -€2,830 | |
| Cash at bank and in hand | 54/58 | €20,657 | €22,313 | +€1,656 | +8.0% |
| Deferred charges and accrued income | 490/1 | €1,209 | €683 | -€526 | -43.5% |
| Total equity and liabilities | 10/49 | €135,491 | €122,998 | -€12,493 | -9.2% |
| Equity | 10/15 | €28,629 | €22,187 | -€6,442 | -22.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,429 | €15,987 | -€6,442 | -28.7% |
| Amounts payable | 17/49 | €106,862 | €100,811 | -€6,051 | -5.7% |
| Amounts payable after more than one year | 17 | €83,444 | €77,052 | -€6,392 | -7.7% |
| Financial debts | 170/4 | €83,444 | €77,052 | -€6,392 | -7.7% |
| Amounts payable within one year | 42/48 | €23,419 | €23,760 | +€341 | +1.5% |
| Trade debts | 44 | €3,459 | €3,151 | -€308 | -8.9% |
| Suppliers | 440/4 | €3,459 | €3,151 | -€308 | -8.9% |
| Other amounts payable | 47/48 | €19,960 | €20,609 | +€649 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,794 | €10,794 | = | 0.0% |
| Other operating charges | 640/8 | €2,273 | €2,211 | -€62 | -2.7% |
| Gross operating margin | 9900 | €12,593 | €14,894 | +€2,301 | +18.3% |
| Operating profit (loss) | 9901 | -€474 | €1,889 | +€2,363 | |
| Financial charges | 65/66B | €2,113 | €2,028 | -€84 | -4.0% |
| Recurring financial charges | 65 | €2,113 | €2,028 | -€84 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,587 | -€139 | +€2,447 | +94.6% |
| Income taxes | 67/77 | €2,795 | €6,303 | +€3,508 | +125.5% |
| Profit (loss) for the period | 9904 | -€5,381 | -€6,442 | -€1,061 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,381 | -€6,442 | -€1,061 | -19.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.