C.M.M.D.: 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.M.D.
Largest movements
- Tangible fixed assets +€449,941
new in 2025: €449,941
of which Land and buildings: +€376,036
- Cash -€85,644
down €85,644 (-47.0%), from €182,409 to €96,766
mainly Investment in fixed assets (net) (-€476,647) and Tax, wage and social debts (-€49,821)
- Debts after one year +€226,627
new in 2025: €226,627
- Other debts +€144,247
up €144,247 (+1714.3%), from €8,414 to €152,661
- Tax, wage and social debts -€49,821
down €49,821 (-80.2%), from €62,156 to €12,335
- Profit (loss) carried forward +€24,274
up €24,274 (+22.3%), from €108,772 to €133,045
- Current portion of long-term debt +€13,516
new in 2025: €13,516
- Gross operating margin -€61,878
down €61,878 (-42.8%), from €144,436 to €82,558
- Taxes -€31,225
down €31,225 (-97.6%), from €32,001 to €776
- Depreciation +€25,840
up €25,840 (+1349.9%), from €1,914 to €27,754
- Financial charges +€14,717
up €14,717 (+2925.9%), from €503 to €15,220
- Other operating charges +€13,314
up €13,314 (+3437.2%), from €387 to €13,701
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 | €185,403 | €547,976 | +€362,573 | +195.6% |
| Formation expenses | 20 | €1,048 | €0 | -€1,048 | -100.0% |
| Fixed assets | 21/28 | - | €449,941 | +€449,941 | |
| Tangible fixed assets | 22/27 | - | €449,941 | +€449,941 | |
| Land and buildings | 22 | - | €376,036 | +€376,036 | |
| Furniture and vehicles | 24 | - | €73,905 | +€73,905 | |
| Current assets | 29/58 | €184,355 | €98,036 | -€86,319 | -46.8% |
| Amounts receivable within one year | 40/41 | €1,946 | €945 | -€1,001 | -51.4% |
| Trade receivables | 40 | €1,946 | €0 | -€1,946 | -100.0% |
| Other amounts receivable | 41 | - | €945 | +€945 | |
| Cash at bank and in hand | 54/58 | €182,409 | €96,766 | -€85,644 | -47.0% |
| Deferred charges and accrued income | 490/1 | - | €325 | +€325 | |
| Total equity and liabilities | 10/49 | €185,403 | €547,976 | +€362,573 | +195.6% |
| Equity | 10/15 | €112,772 | €137,045 | +€24,274 | +21.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,772 | €133,045 | +€24,274 | +22.3% |
| Amounts payable | 17/49 | €72,632 | €410,931 | +€338,299 | +465.8% |
| Amounts payable after more than one year | 17 | - | €226,627 | +€226,627 | |
| Financial debts | 170/4 | - | €226,627 | +€226,627 | |
| Amounts payable within one year | 42/48 | €72,265 | €179,317 | +€107,053 | +148.1% |
| Current portion of amounts payable after more than one year | 42 | - | €13,516 | +€13,516 | |
| Trade debts | 44 | €1,694 | €805 | -€889 | -52.5% |
| Suppliers | 440/4 | €1,694 | €805 | -€889 | -52.5% |
| Taxes, remuneration and social security | 45 | €62,156 | €12,335 | -€49,821 | -80.2% |
| Taxes | 450/3 | €62,156 | €12,335 | -€49,821 | -80.2% |
| Other amounts payable | 47/48 | €8,414 | €152,661 | +€144,247 | +1714.3% |
| Accrued charges and deferred income | 492/3 | €367 | €4,987 | +€4,620 | +1258.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,914 | €27,754 | +€25,840 | +1349.9% |
| Other operating charges | 640/8 | €387 | €13,701 | +€13,314 | +3437.2% |
| Gross operating margin | 9900 | €144,436 | €82,558 | -€61,878 | -42.8% |
| Operating profit (loss) | 9901 | €142,134 | €41,103 | -€101,032 | -71.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €503 | €15,220 | +€14,717 | +2925.9% |
| Recurring financial charges | 65 | €503 | €15,220 | +€14,717 | +2925.9% |
| Profit (loss) for the period before taxes | 9903 | €141,631 | €25,882 | -€115,749 | -81.7% |
| Income taxes | 67/77 | €32,001 | €776 | -€31,225 | -97.6% |
| Profit (loss) for the period | 9904 | €109,631 | €25,107 | -€84,524 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €109,631 | €25,107 | -€84,524 | -77.1% |
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 12 October 2026 via checked.be.