C-MAC HOLDING: 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.
What changed
C-MAC HOLDING
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9.6m
2024 · -€516,420+€10.1m
Equity
€22.5m
2024 · €15.9m+€6.6m
Cash
€24,177
2024 · €15,197+€8,980
Balance sheet total
€40.8m
2024 · €41.0m-€133,305
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€6.8m
down €6.8m (-27.9%), from €24.3m to €17.5m
- Profit (loss) carried forward +€6.6m
up €6.6m, from -€6.3m to €364,203
Income statement
- Financial income +€10.0m
new in 2025: €10.0m
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.
Result 2024
-€516,420
Staff costs
+€155,104
Other operating charges
-€35
Other operating items
-€193,434
Financial income
+€10.0m
Financial charges
+€177,632
Taxes
-€7
Result 2025
€9.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9.6m
Investment
€0
Financing
-€9.6m
Cash 2024
€15,197
From operations (derived)
+€9.6m
Net result for the year
+€9.6m
Receivables within one year
+€135,903
Deferred charges and accrued income
+€6,382
Trade debts
-€29,561
Tax, wage and social debts
-€161,059
Financing
-€9.6m
Debts after one year
-€6.8m
Current portion of long-term debt
+€200,000
Contributions, distributions and other
-€3.0m
Cash 2025
€24,177
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,980,818 | €40,847,513 | -€133,305 | -0.3% |
| Fixed assets | 21/28 | €40,607,086 | €40,607,086 | = | 0.0% |
| Financial fixed assets | 28 | €40,607,086 | €40,607,086 | = | 0.0% |
| Affiliated companies | 280/1 | €40,607,086 | €40,607,086 | = | 0.0% |
| Participating interests | 280 | €40,607,086 | €40,607,086 | = | 0.0% |
| Current assets | 29/58 | €373,732 | €240,427 | -€133,305 | -35.7% |
| Amounts receivable within one year | 40/41 | €338,077 | €202,174 | -€135,903 | -40.2% |
| Trade receivables | 40 | €338,077 | €202,174 | -€135,903 | -40.2% |
| Cash at bank and in hand | 54/58 | €15,197 | €24,177 | +€8,980 | +59.1% |
| Deferred charges and accrued income | 490/1 | €20,459 | €14,077 | -€6,382 | -31.2% |
| Total equity and liabilities | 10/49 | €40,980,818 | €40,847,513 | -€133,305 | -0.3% |
| Equity | 10/15 | €15,891,363 | €22,514,203 | +€6.6m | +41.7% |
| Contributions | 10/11 | €22,150,000 | €22,150,000 | = | 0.0% |
| Capital | 10 | €22,150,000 | €22,150,000 | = | 0.0% |
| Issued capital | 100 | €22,150,000 | €22,150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,258,637 | €364,203 | +€6.6m | |
| Amounts payable | 17/49 | €25,089,455 | €18,333,310 | -€6.8m | -26.9% |
| Amounts payable after more than one year | 17 | €24,262,297 | €17,496,771 | -€6.8m | -27.9% |
| Financial debts | 170/4 | €24,262,297 | €17,496,771 | -€6.8m | -27.9% |
| Subordinated loans | 170 | €605,798 | - | -€605,798 | |
| Credit institutions | 173 | €6,750,000 | €9,450,000 | +€2.7m | +40.0% |
| Other loans | 174 | €16,906,499 | €8,046,771 | -€8.9m | -52.4% |
| Amounts payable within one year | 42/48 | €827,157 | €836,538 | +€9,381 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €151,678 | €122,117 | -€29,561 | -19.5% |
| Suppliers | 440/4 | €151,678 | €122,117 | -€29,561 | -19.5% |
| Taxes, remuneration and social security | 45 | €675,480 | €514,421 | -€161,059 | -23.8% |
| Taxes | 450/3 | €94,367 | €52,322 | -€42,045 | -44.6% |
| Remuneration and social security | 454/9 | €581,113 | €462,099 | -€119,013 | -20.5% |
| Operating income | 70/76A | €2,180,683 | €2,120,752 | -€59,932 | -2.7% |
| Other operating income | 74 | €1,952,562 | €1,919,980 | -€32,581 | -1.7% |
| Non-recurring operating income | 76A | €228,122 | €200,771 | -€27,351 | -12.0% |
| Operating charges | 60/66A | €1,829,384 | €1,807,817 | -€21,567 | -1.2% |
| Services and other goods | 61 | €604,118 | €737,620 | +€133,502 | +22.1% |
| Remuneration, social security and pensions | 62 | €1,223,784 | €1,068,680 | -€155,104 | -12.7% |
| Other operating charges | 640/8 | €1,483 | €1,518 | +€35 | +2.3% |
| Operating profit (loss) | 9901 | €351,299 | €312,935 | -€38,364 | -10.9% |
| Financial income | 75/76B | - | €10,000,000 | +€10.0m | |
| Recurring financial income | 75 | - | €10,000,000 | +€10.0m | |
| Income from financial fixed assets | 750 | - | €10,000,000 | +€10.0m | |
| Financial charges | 65/66B | €866,680 | €689,048 | -€177,632 | -20.5% |
| Recurring financial charges | 65 | €866,680 | €689,048 | -€177,632 | -20.5% |
| Debt charges | 650 | - | €686,056 | +€686,056 | |
| Other financial charges | 652/9 | €866,680 | €2,991 | -€863,688 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | -€515,381 | €9,623,887 | +€10.1m | |
| Income taxes | 67/77 | €1,040 | €1,047 | +€7 | +0.7% |
| Taxes | 670/3 | €1,040 | €1,047 | +€7 | +0.7% |
| Profit (loss) for the period | 9904 | -€516,420 | €9,622,840 | +€10.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€516,420 | €9,622,840 | +€10.1m |
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 30 October 2026 via checked.be.