C.M.G.: what changed
Two fiscal 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.G.
Largest movements
- Tangible fixed assets -€233,260
down €233,260 (-3.0%), from €7.7m to €7.5m
of which Land and buildings: -€232,330
- Cash +€129,915
up €129,915 (+145.2%), from €89,474 to €219,389
mainly Depreciation (+€236,839) and Receivables within one year (+€106,906)
- Receivables within one year -€106,906
down €106,906 (-73.1%), from €146,190 to €39,284
- Profit (loss) carried forward -€227,958
down €227,958 (-8.2%), from -€2.8m to -€3.0m
- Gross operating margin +€62,564
up €62,564, from -€22,798 to €39,766
- Other operating charges +€11,836
up €11,836 (+92.5%), from €12,796 to €24,632
- Financial income -€772
down €772 (-10.6%), from €7,288 to €6,516
- Depreciation +€410
up €410 (+0.2%), from €236,430 to €236,839
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 | €8,027,543 | €7,819,570 | -€207,973 | -2.6% |
| Fixed assets | 21/28 | €7,693,176 | €7,459,916 | -€233,260 | -3.0% |
| Tangible fixed assets | 22/27 | €7,693,176 | €7,459,916 | -€233,260 | -3.0% |
| Land and buildings | 22 | €7,673,184 | €7,440,854 | -€232,330 | -3.0% |
| Plant, machinery and equipment | 23 | €14,075 | €14,215 | +€140 | +1.0% |
| Furniture and vehicles | 24 | €5,917 | €4,847 | -€1,070 | -18.1% |
| Current assets | 29/58 | €334,367 | €359,654 | +€25,287 | +7.6% |
| Amounts receivable after more than one year | 29 | €72,719 | €74,197 | +€1,478 | +2.0% |
| Other amounts receivable | 291 | €72,719 | €74,197 | +€1,478 | +2.0% |
| Amounts receivable within one year | 40/41 | €146,190 | €39,284 | -€106,906 | -73.1% |
| Other amounts receivable | 41 | €146,190 | €39,284 | -€106,906 | -73.1% |
| Current investments | 50/53 | €14,874 | €14,874 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €89,474 | €219,389 | +€129,915 | +145.2% |
| Deferred charges and accrued income | 490/1 | €11,110 | €11,911 | +€801 | +7.2% |
| Total equity and liabilities | 10/49 | €8,027,543 | €7,819,570 | -€207,973 | -2.6% |
| Equity | 10/15 | -€2,681,341 | -€2,909,300 | -€227,958 | -8.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,781,341 | -€3,009,300 | -€227,958 | -8.2% |
| Amounts payable | 17/49 | €10,708,884 | €10,728,869 | +€19,986 | +0.2% |
| Amounts payable after more than one year | 17 | €10,703,942 | €10,716,450 | +€12,508 | +0.1% |
| Financial debts | 170/4 | €10,703,942 | €10,716,450 | +€12,508 | +0.1% |
| Amounts payable within one year | 42/48 | €4,941 | €12,420 | +€7,478 | +151.3% |
| Trade debts | 44 | €4,941 | €12,420 | +€7,478 | +151.3% |
| Suppliers | 440/4 | €4,941 | €12,420 | +€7,478 | +151.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,430 | €236,839 | +€410 | +0.2% |
| Other operating charges | 640/8 | €12,796 | €24,632 | +€11,836 | +92.5% |
| Gross operating margin | 9900 | -€22,798 | €39,766 | +€62,564 | |
| Operating profit (loss) | 9901 | -€272,023 | -€221,705 | +€50,318 | +18.5% |
| Financial income | 75/76B | €7,288 | €6,516 | -€772 | -10.6% |
| Recurring financial income | 75 | €7,288 | €6,516 | -€772 | -10.6% |
| Financial charges | 65/66B | €12,870 | €12,769 | -€101 | -0.8% |
| Recurring financial charges | 65 | €12,870 | €12,769 | -€101 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€277,605 | -€227,958 | +€49,647 | +17.9% |
| Profit (loss) for the period | 9904 | -€277,605 | -€227,958 | +€49,647 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€277,605 | -€227,958 | +€49,647 | +17.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.