C.M.G.: 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.G.
Largest movements
- Cash +€810,928
up €810,928 (+300%), from €270,465 to €1.1m
mainly Current investments (+€768,482) and Receivables within one year (+€57,535)
- Current investments -€768,482
no longer reported in 2025 (was €768,482)
- Receivables within one year -€57,535
down €57,535 (-70.1%), from €82,072 to €24,537
of which Trade receivables: -€46,383
- Profit (loss) carried forward +€19,675
up €19,675 (+1.9%), from €1.0m to €1.1m
- Trade debts -€13,782
down €13,782 (-16.7%), from €82,568 to €68,787
- Turnover -€742,894
no longer reported in 2025 (was €742,894)
- Purchases and services -€446,363
no longer reported in 2025 (was €446,363)
- Staff costs -€28,109
down €28,109 (-10.2%), from €274,683 to €246,574
- Gross operating margin -€10,517
down €10,517 (-3.5%), from €296,531 to €286,014
- Financial income +€10,178
up €10,178 (+391%), from €2,602 to €12,779
of which Financial income: +€7,178
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.
Derived cash bridge
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 | €1,228,223 | €1,222,837 | -€5,386 | -0.4% |
| Fixed assets | 21/28 | €57,763 | €57,988 | +€225 | +0.4% |
| Tangible fixed assets | 22/27 | €57,251 | €57,476 | +€225 | +0.4% |
| Plant, machinery and equipment | 23 | €5,483 | €14,206 | +€8,723 | +159% |
| Furniture and vehicles | 24 | €51,768 | €43,271 | -€8,497 | -16.4% |
| Financial fixed assets | 28 | €512 | €512 | = | 0.0% |
| Current assets | 29/58 | €1,170,461 | €1,164,849 | -€5,612 | -0.5% |
| Stocks and contracts in progress | 3 | €45,288 | €51,096 | +€5,808 | +12.8% |
| Stocks | 30/36 | €32,020 | €31,096 | -€924 | -2.9% |
| Contracts in progress | 37 | €13,268 | €20,000 | +€6,733 | +50.7% |
| Amounts receivable within one year | 40/41 | €82,072 | €24,537 | -€57,535 | -70.1% |
| Trade receivables | 40 | €57,018 | €10,635 | -€46,383 | -81.3% |
| Other amounts receivable | 41 | €25,054 | €13,903 | -€11,151 | -44.5% |
| Current investments | 50/53 | €768,482 | - | -€768,482 | |
| Cash at bank and in hand | 54/58 | €270,465 | €1,081,393 | +€810,928 | +300% |
| Deferred charges and accrued income | 490/1 | €4,154 | €7,822 | +€3,668 | +88.3% |
| Total equity and liabilities | 10/49 | €1,228,223 | €1,222,837 | -€5,386 | -0.4% |
| Equity | 10/15 | €1,092,505 | €1,112,180 | +€19,675 | +1.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,558 | €27,558 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Other | 1319 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | €25,699 | €25,699 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,046,355 | €1,066,030 | +€19,675 | +1.9% |
| Amounts payable | 17/49 | €135,718 | €110,657 | -€25,061 | -18.5% |
| Amounts payable within one year | 42/48 | €135,718 | €110,607 | -€25,112 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €3,272 | - | -€3,272 | |
| Trade debts | 44 | €82,568 | €68,787 | -€13,782 | -16.7% |
| Suppliers | 440/4 | €82,568 | €68,787 | -€13,782 | -16.7% |
| Taxes, remuneration and social security | 45 | €49,877 | €41,820 | -€8,058 | -16.2% |
| Taxes | 450/3 | €9,857 | €5,909 | -€3,948 | -40.1% |
| Remuneration and social security | 454/9 | €40,020 | €35,911 | -€4,109 | -10.3% |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Turnover | 70 | €742,894 | - | -€742,894 | |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Goods, raw materials, services and sundry goods | 60/61 | €446,363 | - | -€446,363 | |
| Remuneration, social security and pensions | 62 | €274,683 | €246,574 | -€28,109 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,990 | €18,995 | +€5,005 | +35.8% |
| Other operating charges | 640/8 | €5,045 | €2,824 | -€2,221 | -44.0% |
| Gross operating margin | 9900 | €296,531 | €286,014 | -€10,517 | -3.5% |
| Operating profit (loss) | 9901 | €2,813 | €17,621 | +€14,808 | +526% |
| Financial income | 75/76B | €2,602 | €12,779 | +€10,178 | +391% |
| Recurring financial income | 75 | €2,602 | €9,779 | +€7,178 | +276% |
| Non-recurring financial income | 76B | - | €3,000 | +€3,000 | |
| Financial charges | 65/66B | €1,560 | €484 | -€1,076 | -68.9% |
| Recurring financial charges | 65 | €1,560 | €484 | -€1,076 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | €3,854 | €29,916 | +€26,062 | +676% |
| Income taxes | 67/77 | €3,639 | €10,241 | +€6,602 | +181% |
| Profit (loss) for the period | 9904 | €216 | €19,675 | +€19,459 | +9,015% |
| Profit (loss) for the period to be appropriated | 9905 | €216 | €19,675 | +€19,459 | +9,015% |
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 25 October 2026 via checked.be.