C.M.W.: 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.W.
Largest movements
- Receivables within one year +€11,970
up €11,970 (+4,351%), from €275 to €12,245
of which Trade receivables: +€12,100
- Cash -€6,554
down €6,554 (-17.3%), from €37,837 to €31,283
mainly Receivables within one year (-€11,970)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€2,057
up €2,057 (+80.2%), from €2,563 to €4,621
- Taxes +€584
up €584 (+1,059%), from €55 to €639
- Financial charges -€63
down €63 (-3.1%), from €2,009 to €1,946
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 | €428,822 | €434,238 | +€5,416 | +1.3% |
| Fixed assets | 21/28 | €390,710 | €390,710 | = | 0.0% |
| Financial fixed assets | 28 | €390,710 | €390,710 | = | 0.0% |
| Current assets | 29/58 | €38,112 | €43,528 | +€5,416 | +14.2% |
| Amounts receivable within one year | 40/41 | €275 | €12,245 | +€11,970 | +4,351% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €275 | €145 | -€130 | -47.4% |
| Cash at bank and in hand | 54/58 | €37,837 | €31,283 | -€6,554 | -17.3% |
| Total equity and liabilities | 10/49 | €428,822 | €434,238 | +€5,416 | +1.3% |
| Equity | 10/15 | €402,894 | €404,468 | +€1,574 | +0.4% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Reserves | 13 | €307,894 | €309,468 | +€1,574 | +0.5% |
| Non-distributable reserves | 130/1 | €26,773 | €26,773 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26,773 | €26,773 | = | 0.0% |
| Distributable reserves | 133 | €281,121 | €282,695 | +€1,574 | +0.6% |
| Amounts payable | 17/49 | €25,928 | €29,770 | +€3,842 | +14.8% |
| Amounts payable within one year | 42/48 | €25,928 | €29,770 | +€3,842 | +14.8% |
| Trade debts | 44 | €0 | €433 | +€433 | |
| Suppliers | 440/4 | €0 | €433 | +€433 | |
| Taxes, remuneration and social security | 45 | €596 | €1,733 | +€1,136 | +191% |
| Taxes | 450/3 | €596 | €1,733 | +€1,136 | +191% |
| Other amounts payable | 47/48 | €25,332 | €27,604 | +€2,272 | +9.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €2,563 | €4,621 | +€2,057 | +80.2% |
| Operating profit (loss) | 9901 | €2,114 | €4,159 | +€2,045 | +96.7% |
| Financial charges | 65/66B | €2,009 | €1,946 | -€63 | -3.1% |
| Recurring financial charges | 65 | €2,009 | €1,946 | -€63 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €105 | €2,213 | +€2,107 | +1,998% |
| Income taxes | 67/77 | €55 | €639 | +€584 | +1,059% |
| Profit (loss) for the period | 9904 | €50 | €1,574 | +€1,523 | +3,027% |
| Profit (loss) for the period to be appropriated | 9905 | €50 | €1,574 | +€1,523 | +3,027% |
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 31 October 2026 via checked.be.