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
- Receivables within one year +€12,403
up €12,403 (+33.4%), from €37,181 to €49,584
- Tangible fixed assets -€8,148
down €8,148 (-10.6%), from €77,201 to €69,053
of which Land and buildings: -€5,564
- Reserves +€3,166
up €3,166 (+6.6%), from €48,297 to €51,463
of which Distributable reserves: +€3,166
- Gross operating margin +€1,000
up €1,000 (+6.8%), from €14,813 to €15,813
- Depreciation +€950
up €950 (+13.2%), from €7,197 to €8,148
- Financial charges -€197
down €197 (-37.6%), from €524 to €327
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 | €117,293 | €120,559 | +€3,266 | +2.8% |
| Fixed assets | 21/28 | €77,201 | €69,053 | -€8,148 | -10.6% |
| Tangible fixed assets | 22/27 | €77,201 | €69,053 | -€8,148 | -10.6% |
| Land and buildings | 22 | €70,862 | €65,298 | -€5,564 | -7.9% |
| Furniture and vehicles | 24 | €6,338 | €3,755 | -€2,583 | -40.8% |
| Current assets | 29/58 | €40,092 | €51,506 | +€11,414 | +28.5% |
| Amounts receivable within one year | 40/41 | €37,181 | €49,584 | +€12,403 | +33.4% |
| Other amounts receivable | 41 | €37,181 | €49,584 | +€12,403 | +33.4% |
| Cash at bank and in hand | 54/58 | €1,948 | €943 | -€1,005 | -51.6% |
| Deferred charges and accrued income | 490/1 | €963 | €980 | +€16 | +1.7% |
| Total equity and liabilities | 10/49 | €117,293 | €120,559 | +€3,266 | +2.8% |
| Equity | 10/15 | €110,297 | €113,463 | +€3,166 | +2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €48,297 | €51,463 | +€3,166 | +6.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,407 | €1,407 | = | 0.0% |
| Distributable reserves | 133 | €40,691 | €43,856 | +€3,166 | +7.8% |
| Amounts payable | 17/49 | €6,996 | €7,096 | +€100 | +1.4% |
| Amounts payable after more than one year | 17 | €6,412 | €6,319 | -€92 | -1.4% |
| Other amounts payable | 178/9 | €6,412 | €6,319 | -€92 | -1.4% |
| Amounts payable within one year | 42/48 | €584 | €777 | +€193 | +33.0% |
| Trade debts | 44 | €584 | €777 | +€193 | +33.0% |
| Suppliers | 440/4 | €584 | €777 | +€193 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,197 | €8,148 | +€950 | +13.2% |
| Other operating charges | 640/8 | €2,483 | €2,562 | +€78 | +3.2% |
| Gross operating margin | 9900 | €14,813 | €15,813 | +€1,000 | +6.8% |
| Operating profit (loss) | 9901 | €5,132 | €5,103 | -€29 | -0.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €524 | €327 | -€197 | -37.6% |
| Recurring financial charges | 65 | €524 | €327 | -€197 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €4,608 | €4,776 | +€169 | +3.7% |
| Income taxes | 67/77 | €1,568 | €1,611 | +€42 | +2.7% |
| Profit (loss) for the period | 9904 | €3,039 | €3,166 | +€127 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,039 | €3,166 | +€127 | +4.2% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.