C.M. MANAGEMENT: 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. MANAGEMENT
Largest movements
- Receivables within one year -€9,721
down €9,721 (-20.5%), from €47,311 to €37,590
of which Trade receivables: -€10,484
- Profit (loss) carried forward -€24,450
down €24,450 (-94.6%), from €25,846 to €1,396
- Trade debts +€23,721
new in 2025: €23,721
- Advances received -€12,685
no longer reported in 2025 (was €12,685)
- Tax, wage and social debts +€3,447
up €3,447 (+14.8%), from €23,273 to €26,720
- Gross operating margin -€73,623
down €73,623 (-99.8%), from €73,760 to €137
- Taxes -€18,049
down €18,049 (-99.3%), from €18,170 to €121
- Other operating charges +€14,295
up €14,295 (+7,763%), from €184 to €14,479
- Financial charges -€1,745
down €1,745 (-55.4%), from €3,147 to €1,402
- Depreciation +€766
up €766 (+10.0%), from €7,660 to €8,426
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 | €142,250 | €131,644 | -€10,606 | -7.5% |
| Fixed assets | 21/28 | €94,861 | €93,823 | -€1,038 | -1.1% |
| Intangible fixed assets | 21 | €1,675 | €1,259 | -€416 | -24.8% |
| Tangible fixed assets | 22/27 | €93,186 | €92,564 | -€622 | -0.7% |
| Land and buildings | 22 | €81,527 | €77,517 | -€4,010 | -4.9% |
| Plant, machinery and equipment | 23 | €11,659 | €15,047 | +€3,388 | +29.1% |
| Current assets | 29/58 | €47,389 | €37,821 | -€9,568 | -20.2% |
| Amounts receivable within one year | 40/41 | €47,311 | €37,590 | -€9,721 | -20.5% |
| Trade receivables | 40 | €10,484 | - | -€10,484 | |
| Other amounts receivable | 41 | €36,828 | €37,590 | +€762 | +2.1% |
| Cash at bank and in hand | 54/58 | €77 | €105 | +€28 | +35.8% |
| Deferred charges and accrued income | 490/1 | - | €126 | +€126 | |
| Total equity and liabilities | 10/49 | €142,250 | €131,644 | -€10,606 | -7.5% |
| Equity | 10/15 | €103,239 | €78,789 | -€24,450 | -23.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €58,793 | €58,793 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €12,334 | €12,334 | = | 0.0% |
| Distributable reserves | 133 | €44,599 | €44,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,846 | €1,396 | -€24,450 | -94.6% |
| Amounts payable | 17/49 | €39,011 | €52,855 | +€13,845 | +35.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €39,011 | €52,855 | +€13,845 | +35.5% |
| Financial debts | 43 | €842 | - | -€842 | |
| Credit institutions | 430/8 | €842 | - | -€842 | |
| Trade debts | 44 | - | €23,721 | +€23,721 | |
| Suppliers | 440/4 | - | €23,721 | +€23,721 | |
| Advances received on contracts in progress | 46 | €12,685 | - | -€12,685 | |
| Taxes, remuneration and social security | 45 | €23,273 | €26,720 | +€3,447 | +14.8% |
| Taxes | 450/3 | €23,273 | €26,720 | +€3,447 | +14.8% |
| Other amounts payable | 47/48 | €2,210 | €2,414 | +€204 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,660 | €8,426 | +€766 | +10.0% |
| Other operating charges | 640/8 | €184 | €14,479 | +€14,295 | +7,763% |
| Non-recurring operating charges | 66A | - | €159 | +€159 | |
| Gross operating margin | 9900 | €73,760 | €137 | -€73,623 | -99.8% |
| Operating profit (loss) | 9901 | €65,916 | -€22,927 | -€88,843 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,147 | €1,402 | -€1,745 | -55.4% |
| Recurring financial charges | 65 | €3,147 | €1,402 | -€1,745 | -55.4% |
| Profit (loss) for the period before taxes | 9903 | €62,770 | -€24,329 | -€87,099 | |
| Income taxes | 67/77 | €18,170 | €121 | -€18,049 | -99.3% |
| Profit (loss) for the period | 9904 | €44,599 | -€24,450 | -€69,049 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,599 | -€24,450 | -€69,049 |
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 13 October 2026 via checked.be.