C.M. PROJECTS: 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. PROJECTS
Largest movements
- Tangible fixed assets -€20,870
down €20,870 (-14.3%), from €145,664 to €124,794
of which Furniture and vehicles: -€12,787
- Receivables within one year -€3,791
down €3,791 (-15.0%), from €25,253 to €21,461
- Debts after one year -€17,313
down €17,313 (-19.7%), from €87,744 to €70,431
- Profit (loss) carried forward +€14,202
up €14,202 (+53.6%), from -€26,486 to -€12,284
- Current portion of long-term debt -€10,648
down €10,648 (-38.1%), from €27,961 to €17,313
- Other debts -€8,672
down €8,672 (-29.2%), from €29,749 to €21,077
- Trade debts -€4,269
down €4,269 (-35.6%), from €11,991 to €7,722
- Depreciation -€6,549
down €6,549 (-23.9%), from €27,420 to €20,870
- Taxes +€2,466
up €2,466 (+65.1%), from €3,790 to €6,256
- Other operating charges -€1,275
down €1,275 (-34.0%), from €3,753 to €2,478
- Financial charges +€842
up €842 (+20.8%), from €4,044 to €4,887
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 | €181,466 | €156,231 | -€25,235 | -13.9% |
| Fixed assets | 21/28 | €145,664 | €124,794 | -€20,870 | -14.3% |
| Tangible fixed assets | 22/27 | €145,664 | €124,794 | -€20,870 | -14.3% |
| Land and buildings | 22 | €88,947 | €83,986 | -€4,962 | -5.6% |
| Furniture and vehicles | 24 | €53,595 | €40,808 | -€12,787 | -23.9% |
| Leasing and similar rights | 25 | €3,121 | €0 | -€3,121 | -100% |
| Current assets | 29/58 | €35,802 | €31,437 | -€4,364 | -12.2% |
| Amounts receivable within one year | 40/41 | €25,253 | €21,461 | -€3,791 | -15.0% |
| Trade receivables | 40 | €25,253 | €21,461 | -€3,791 | -15.0% |
| Cash at bank and in hand | 54/58 | €8,072 | €8,251 | +€178 | +2.2% |
| Deferred charges and accrued income | 490/1 | €2,476 | €1,725 | -€751 | -30.3% |
| Total equity and liabilities | 10/49 | €181,466 | €156,231 | -€25,235 | -13.9% |
| Equity | 10/15 | €9,926 | €24,128 | +€14,202 | +143% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €16,412 | €16,412 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100% |
| Distributable reserves | 133 | €14,412 | €16,412 | +€2,000 | +13.9% |
| Profit (loss) carried forward | 14 | -€26,486 | -€12,284 | +€14,202 | +53.6% |
| Amounts payable | 17/49 | €171,540 | €132,103 | -€39,437 | -23.0% |
| Amounts payable after more than one year | 17 | €87,744 | €70,431 | -€17,313 | -19.7% |
| Financial debts | 170/4 | €87,744 | €70,431 | -€17,313 | -19.7% |
| Amounts payable within one year | 42/48 | €82,366 | €60,172 | -€22,195 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €27,961 | €17,313 | -€10,648 | -38.1% |
| Trade debts | 44 | €11,991 | €7,722 | -€4,269 | -35.6% |
| Suppliers | 440/4 | €11,991 | €7,722 | -€4,269 | -35.6% |
| Taxes, remuneration and social security | 45 | €12,666 | €14,061 | +€1,395 | +11.0% |
| Taxes | 450/3 | €12,666 | €14,061 | +€1,395 | +11.0% |
| Other amounts payable | 47/48 | €29,749 | €21,077 | -€8,672 | -29.2% |
| Accrued charges and deferred income | 492/3 | €1,430 | €1,500 | +€70 | +4.9% |
| Non-recurring operating income | 76A | €18,750 | €0 | -€18,750 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,420 | €20,870 | -€6,549 | -23.9% |
| Other operating charges | 640/8 | €3,753 | €2,478 | -€1,275 | -34.0% |
| Gross operating margin | 9900 | €48,543 | €48,694 | +€151 | +0.3% |
| Operating profit (loss) | 9901 | €17,370 | €25,345 | +€7,975 | +45.9% |
| Financial income | 75/76B | €30 | €0 | -€30 | -100% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -100% |
| Financial charges | 65/66B | €4,044 | €4,887 | +€842 | +20.8% |
| Recurring financial charges | 65 | €4,044 | €4,887 | +€842 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €13,356 | €20,458 | +€7,103 | +53.2% |
| Income taxes | 67/77 | €3,790 | €6,256 | +€2,466 | +65.1% |
| Profit (loss) for the period | 9904 | €9,566 | €14,202 | +€4,637 | +48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,566 | €14,202 | +€4,637 | +48.5% |
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 23 October 2026 via checked.be.