C&M-PLUS: 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-PLUS
Largest movements
- Cash -€215,150
down €215,150 (-74.6%), from €288,375 to €73,224
mainly Contributions, distributions and other (-€300,000) and Investment in fixed assets (net) (-€93,785)
- Receivables within one year -€98,660
down €98,660 (-93.4%), from €105,600 to €6,941
of which Other amounts receivable: -€76,340
- Tangible fixed assets +€44,219
up €44,219 (+42.8%), from €103,417 to €147,636
of which Plant, machinery and equipment: +€40,518
- Reserves -€300,000
down €300,000 (-75.1%), from €399,322 to €99,322
of which Distributable reserves: -€298,140
- Profit (loss) carried forward +€53,938
new in 2025: €53,938
- Other debts -€25,869
down €25,869 (-100.0%), from €25,869 to €0
- Debts after one year -€8,650
down €8,650 (-25.8%), from €33,495 to €24,845
- Tax, wage and social debts +€8,381
up €8,381 (+28.9%), from €29,023 to €37,404
of which Taxes: +€7,751
- Gross operating margin -€39,079
down €39,079 (-20.6%), from €189,815 to €150,736
- Taxes -€20,820
down €20,820 (-51.1%), from €40,754 to €19,933
- Financial charges +€12,319
up €12,319 (+122.6%), from €10,044 to €22,364
- Other operating charges +€6,272
up €6,272 (+348.3%), from €1,801 to €8,072
- Depreciation +€4,770
up €4,770 (+10.6%), from €44,796 to €49,566
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 | €505,273 | €234,768 | -€270,505 | -53.5% |
| Fixed assets | 21/28 | €109,717 | €153,936 | +€44,219 | +40.3% |
| Tangible fixed assets | 22/27 | €103,417 | €147,636 | +€44,219 | +42.8% |
| Plant, machinery and equipment | 23 | €85,967 | €126,484 | +€40,518 | +47.1% |
| Furniture and vehicles | 24 | - | €9,107 | +€9,107 | |
| Other tangible fixed assets | 26 | €17,451 | €12,045 | -€5,406 | -31.0% |
| Financial fixed assets | 28 | €6,300 | €6,300 | = | 0.0% |
| Current assets | 29/58 | €395,556 | €80,832 | -€314,724 | -79.6% |
| Amounts receivable within one year | 40/41 | €105,600 | €6,941 | -€98,660 | -93.4% |
| Trade receivables | 40 | €22,821 | €501 | -€22,320 | -97.8% |
| Other amounts receivable | 41 | €82,779 | €6,439 | -€76,340 | -92.2% |
| Cash at bank and in hand | 54/58 | €288,375 | €73,224 | -€215,150 | -74.6% |
| Deferred charges and accrued income | 490/1 | €1,581 | €667 | -€914 | -57.8% |
| Total equity and liabilities | 10/49 | €505,273 | €234,768 | -€270,505 | -53.5% |
| Equity | 10/15 | €405,522 | €159,460 | -€246,062 | -60.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €399,322 | €99,322 | -€300,000 | -75.1% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Tax-exempt reserves | 132 | €2,339 | €2,339 | = | 0.0% |
| Distributable reserves | 133 | €395,123 | €96,983 | -€298,140 | -75.5% |
| Profit (loss) carried forward | 14 | - | €53,938 | +€53,938 | |
| Amounts payable | 17/49 | €99,751 | €75,308 | -€24,443 | -24.5% |
| Amounts payable after more than one year | 17 | €33,495 | €24,845 | -€8,650 | -25.8% |
| Financial debts | 170/4 | €33,495 | €24,845 | -€8,650 | -25.8% |
| Amounts payable within one year | 42/48 | €66,256 | €50,463 | -€15,793 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €8,309 | €8,650 | +€342 | +4.1% |
| Trade debts | 44 | €3,055 | €4,408 | +€1,353 | +44.3% |
| Suppliers | 440/4 | €3,055 | €4,408 | +€1,353 | +44.3% |
| Taxes, remuneration and social security | 45 | €29,023 | €37,404 | +€8,381 | +28.9% |
| Taxes | 450/3 | €29,023 | €36,774 | +€7,751 | +26.7% |
| Remuneration and social security | 454/9 | - | €630 | +€630 | |
| Other amounts payable | 47/48 | €25,869 | €0 | -€25,869 | -100.0% |
| Non-recurring operating income | 76A | €4,088 | €0 | -€4,088 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,796 | €49,566 | +€4,770 | +10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,135 | -€3,135 | |
| Other operating charges | 640/8 | €1,801 | €8,072 | +€6,272 | +348.3% |
| Gross operating margin | 9900 | €189,815 | €150,736 | -€39,079 | -20.6% |
| Operating profit (loss) | 9901 | €143,218 | €96,232 | -€46,985 | -32.8% |
| Financial income | 75/76B | €491 | €3 | -€488 | -99.4% |
| Recurring financial income | 75 | €491 | €3 | -€488 | -99.4% |
| Financial charges | 65/66B | €10,044 | €22,364 | +€12,319 | +122.6% |
| Recurring financial charges | 65 | €10,044 | €22,364 | +€12,319 | +122.6% |
| Profit (loss) for the period before taxes | 9903 | €133,664 | €73,872 | -€59,793 | -44.7% |
| Income taxes | 67/77 | €40,754 | €19,933 | -€20,820 | -51.1% |
| Profit (loss) for the period | 9904 | €92,910 | €53,938 | -€38,972 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €92,910 | €53,938 | -€38,972 | -41.9% |
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 5 October 2026 via checked.be.