C.M.S.: 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.S.
Largest movements
- Stocks and contracts +€388,974
up €388,974 (+354.5%), from €109,733 to €498,708
- Cash +€366,706
up €366,706 (+845.3%), from €43,383 to €410,089
mainly Contributions, distributions and other (+€772,500) and Other debts (+€248,717)
- Tangible fixed assets +€88,565
up €88,565 (+102.7%), from €86,245 to €174,811
of which Other tangible fixed assets: +€65,866
- Intangible fixed assets +€42,821
new in 2025: €42,821
- Receivables within one year +€30,159
up €30,159 (+37.4%), from €80,743 to €110,902
of which Trade receivables: +€21,073
- Contributions +€772,500
up €772,500 (+4023.4%), from €19,200 to €791,700
- Other debts +€248,717
up €248,717 (+46.6%), from €533,171 to €781,888
- Profit (loss) carried forward -€186,684
down €186,684 (-70.1%), from -€266,330 to -€453,013
- Trade debts +€84,152
up €84,152 (+825.8%), from €10,191 to €94,343
- Gross operating margin -€119,056
down €119,056, from €99,309 to -€19,747
- Depreciation +€4,773
up €4,773 (+17.4%), from €27,355 to €32,127
- Staff costs +€1,547
up €1,547 (+1.2%), from €130,006 to €131,553
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 | €323,244 | €1,238,499 | +€915,255 | +283.1% |
| Fixed assets | 21/28 | €86,245 | €217,632 | +€131,387 | +152.3% |
| Intangible fixed assets | 21 | - | €42,821 | +€42,821 | |
| Tangible fixed assets | 22/27 | €86,245 | €174,811 | +€88,565 | +102.7% |
| Plant, machinery and equipment | 23 | €47,042 | €47,388 | +€345 | +0.7% |
| Furniture and vehicles | 24 | €39,203 | €61,557 | +€22,354 | +57.0% |
| Other tangible fixed assets | 26 | - | €65,866 | +€65,866 | |
| Current assets | 29/58 | €236,998 | €1,020,867 | +€783,869 | +330.7% |
| Stocks and contracts in progress | 3 | €109,733 | €498,708 | +€388,974 | +354.5% |
| Stocks | 30/36 | €109,733 | €498,708 | +€388,974 | +354.5% |
| Amounts receivable within one year | 40/41 | €80,743 | €110,902 | +€30,159 | +37.4% |
| Trade receivables | 40 | €80,743 | €101,817 | +€21,073 | +26.1% |
| Other amounts receivable | 41 | €0 | €9,085 | +€9,085 | |
| Cash at bank and in hand | 54/58 | €43,383 | €410,089 | +€366,706 | +845.3% |
| Deferred charges and accrued income | 490/1 | €3,139 | €1,168 | -€1,971 | -62.8% |
| Total equity and liabilities | 10/49 | €323,244 | €1,238,499 | +€915,255 | +283.1% |
| Equity | 10/15 | -€247,049 | €338,767 | +€585,816 | |
| Contributions | 10/11 | €19,200 | €791,700 | +€772,500 | +4023.4% |
| Reserves | 13 | €80 | €80 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80 | €80 | = | 0.0% |
| Reserves not available under the articles | 1311 | €80 | €80 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€266,330 | -€453,013 | -€186,684 | -70.1% |
| Amounts payable | 17/49 | €570,293 | €899,732 | +€329,439 | +57.8% |
| Amounts payable within one year | 42/48 | €570,293 | €899,440 | +€329,147 | +57.7% |
| Trade debts | 44 | €10,191 | €94,343 | +€84,152 | +825.8% |
| Suppliers | 440/4 | €10,191 | €94,343 | +€84,152 | +825.8% |
| Taxes, remuneration and social security | 45 | €26,931 | €23,210 | -€3,722 | -13.8% |
| Taxes | 450/3 | €4,178 | €58 | -€4,121 | -98.6% |
| Remuneration and social security | 454/9 | €22,753 | €23,152 | +€399 | +1.8% |
| Other amounts payable | 47/48 | €533,171 | €781,888 | +€248,717 | +46.6% |
| Accrued charges and deferred income | 492/3 | - | €292 | +€292 | |
| Remuneration, social security and pensions | 62 | €130,006 | €131,553 | +€1,547 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,355 | €32,127 | +€4,773 | +17.4% |
| Other operating charges | 640/8 | €2,487 | €2,544 | +€57 | +2.3% |
| Gross operating margin | 9900 | €99,309 | -€19,747 | -€119,056 | |
| Operating profit (loss) | 9901 | -€60,539 | -€185,971 | -€125,432 | -207.2% |
| Financial income | 75/76B | €0 | €118 | +€118 | |
| Recurring financial income | 75 | €0 | €118 | +€118 | |
| Financial charges | 65/66B | €244 | €831 | +€586 | +240.1% |
| Recurring financial charges | 65 | €244 | €831 | +€586 | +240.1% |
| Profit (loss) for the period before taxes | 9903 | -€60,783 | -€186,684 | -€125,900 | -207.1% |
| Profit (loss) for the period | 9904 | -€60,783 | -€186,684 | -€125,900 | -207.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,783 | -€186,684 | -€125,900 | -207.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.