C.M.T.: 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.T.
Largest movements
- Current investments -€400,000
down €400,000 (-57.1%), from €700,000 to €300,000
- Tangible fixed assets +€239,599
up €239,599 (+18.9%), from €1.3m to €1.5m
of which Land and buildings: +€239,842
- Cash +€57,809
up €57,809 (+103.2%), from €56,030 to €113,839
mainly Current investments (+€400,000) and Depreciation (+€34,779)
- Debts after one year -€73,301
down €73,301 (-19.5%), from €376,319 to €303,018
- Trade debts -€28,085
down €28,085 (-61.6%), from €45,608 to €17,523
- Gross operating margin -€753,792
down €753,792 (-98.0%), from €769,336 to €15,543
- Taxes -€87,818
down €87,818 (-97.0%), from €90,491 to €2,673
- Depreciation +€11,574
up €11,574 (+49.9%), from €23,205 to €34,779
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 | €2,037,904 | €1,923,864 | -€114,041 | -5.6% |
| Fixed assets | 21/28 | €1,270,426 | €1,510,025 | +€239,599 | +18.9% |
| Tangible fixed assets | 22/27 | €1,270,426 | €1,510,025 | +€239,599 | +18.9% |
| Land and buildings | 22 | €1,265,414 | €1,505,256 | +€239,842 | +19.0% |
| Plant, machinery and equipment | 23 | €278 | €35 | -€243 | -87.5% |
| Furniture and vehicles | 24 | €4,734 | €4,734 | = | 0.0% |
| Current assets | 29/58 | €767,479 | €413,839 | -€353,640 | -46.1% |
| Amounts receivable within one year | 40/41 | €11,449 | - | -€11,449 | |
| Other amounts receivable | 41 | €11,449 | - | -€11,449 | |
| Current investments | 50/53 | €700,000 | €300,000 | -€400,000 | -57.1% |
| Cash at bank and in hand | 54/58 | €56,030 | €113,839 | +€57,809 | +103.2% |
| Total equity and liabilities | 10/49 | €2,037,904 | €1,923,864 | -€114,041 | -5.6% |
| Equity | 10/15 | €1,234,487 | €1,218,974 | -€15,513 | -1.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €719,721 | €700,862 | -€18,859 | -2.6% |
| Tax-exempt reserves | 132 | €709,181 | €690,322 | -€18,859 | -2.7% |
| Distributable reserves | 133 | €10,540 | €10,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | €474,766 | €478,112 | +€3,346 | +0.7% |
| Provisions and deferred taxes | 16 | €253,337 | €246,411 | -€6,925 | -2.7% |
| Deferred taxes | 168 | €253,337 | €246,411 | -€6,925 | -2.7% |
| Amounts payable | 17/49 | €550,080 | €458,478 | -€91,602 | -16.7% |
| Amounts payable after more than one year | 17 | €376,319 | €303,018 | -€73,301 | -19.5% |
| Financial debts | 170/4 | €376,319 | €303,018 | -€73,301 | -19.5% |
| Amounts payable within one year | 42/48 | €173,761 | €155,460 | -€18,301 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €40,949 | €56,678 | +€15,730 | +38.4% |
| Trade debts | 44 | €45,608 | €17,523 | -€28,085 | -61.6% |
| Suppliers | 440/4 | €45,608 | €17,523 | -€28,085 | -61.6% |
| Taxes, remuneration and social security | 45 | €23,716 | €25,478 | +€1,762 | +7.4% |
| Taxes | 450/3 | €23,716 | €25,478 | +€1,762 | +7.4% |
| Other amounts payable | 47/48 | €63,489 | €55,781 | -€7,708 | -12.1% |
| Non-recurring operating income | 76A | €787,275 | €28,432 | -€758,843 | -96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,205 | €34,779 | +€11,574 | +49.9% |
| Other operating charges | 640/8 | €7,365 | €2,745 | -€4,621 | -62.7% |
| Gross operating margin | 9900 | €769,336 | €15,543 | -€753,792 | -98.0% |
| Operating profit (loss) | 9901 | €738,765 | -€21,980 | -€760,746 | |
| Financial income | 75/76B | €7,215 | €7,200 | -€15 | -0.2% |
| Recurring financial income | 75 | €7,215 | €7,200 | -€15 | -0.2% |
| Financial charges | 65/66B | €5,663 | €4,985 | -€678 | -12.0% |
| Recurring financial charges | 65 | €5,663 | €4,985 | -€678 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €740,317 | -€19,766 | -€760,082 | |
| Transfer from deferred taxes | 780 | €4,333 | €6,925 | +€2,593 | +59.8% |
| Transfer to deferred taxes | 680 | €98,409 | - | -€98,409 | |
| Income taxes | 67/77 | €90,491 | €2,673 | -€87,818 | -97.0% |
| Profit (loss) for the period | 9904 | €555,749 | -€15,513 | -€571,262 | |
| Transfer from tax-exempt reserves | 789 | €11,081 | €18,859 | +€7,778 | +70.2% |
| Transfer to tax-exempt reserves | 689 | €295,228 | - | -€295,228 | |
| Profit (loss) for the period to be appropriated | 9905 | €271,602 | €3,346 | -€268,256 | -98.8% |
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 11 October 2026 via checked.be.