C.T.M.: 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.T.M.
Largest movements
- Cash -€69,897
down €69,897 (-19.6%), from €357,006 to €287,109
mainly Trade debts (-€61,804) and Net result for the year (-€12,880)
- Receivables within one year -€10,509
down €10,509 (-99.2%), from €10,593 to €84
- Trade debts -€61,804
down €61,804 (-100.0%), from €61,814 to €10
- Profit (loss) carried forward -€12,880
down €12,880 (-114.3%), from -€11,267 to -€24,147
- Financial income -€159,761
down €159,761 (-99.9%), from €159,852 to €91
of which Non-recurring financial income: -€159,852
- Gross operating margin +€50,429
up €50,429 (+93.4%), from -€53,985 to -€3,556
- Purchases and services -€50,339
down €50,339 (-93.4%), from €53,895 to €3,556
- Taxes -€8,414
down €8,414 (-99.7%), from €8,441 to €27
- Depreciation +€4,908
up €4,908 (+119.8%), from €4,098 to €9,006
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 | €1,000,851 | €911,373 | -€89,478 | -8.9% |
| Fixed assets | 21/28 | €631,838 | €622,832 | -€9,006 | -1.4% |
| Tangible fixed assets | 22/27 | €36,894 | €27,888 | -€9,006 | -24.4% |
| Furniture and vehicles | 24 | €36,894 | €27,888 | -€9,006 | -24.4% |
| Financial fixed assets | 28 | €594,944 | €594,944 | = | 0.0% |
| Current assets | 29/58 | €369,013 | €288,541 | -€80,472 | -21.8% |
| Amounts receivable within one year | 40/41 | €10,593 | €84 | -€10,509 | -99.2% |
| Other amounts receivable | 41 | €10,593 | €84 | -€10,509 | -99.2% |
| Cash at bank and in hand | 54/58 | €357,006 | €287,109 | -€69,897 | -19.6% |
| Deferred charges and accrued income | 490/1 | €1,414 | €1,348 | -€66 | -4.7% |
| Total equity and liabilities | 10/49 | €1,000,851 | €911,373 | -€89,478 | -8.9% |
| Equity | 10/15 | €921,161 | €908,281 | -€12,880 | -1.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €807,428 | €807,428 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €794,928 | €794,928 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,267 | -€24,147 | -€12,880 | -114.3% |
| Amounts payable | 17/49 | €79,690 | €3,092 | -€76,598 | -96.1% |
| Amounts payable within one year | 42/48 | €79,690 | €3,092 | -€76,598 | -96.1% |
| Trade debts | 44 | €61,814 | €10 | -€61,804 | -100.0% |
| Suppliers | 440/4 | €61,814 | €10 | -€61,804 | -100.0% |
| Taxes, remuneration and social security | 45 | €9,310 | - | -€9,310 | |
| Taxes | 450/3 | €9,310 | - | -€9,310 | |
| Other amounts payable | 47/48 | €8,566 | €3,082 | -€5,484 | -64.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €53,895 | €3,556 | -€50,339 | -93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,098 | €9,006 | +€4,908 | +119.8% |
| Other operating charges | 640/8 | €33 | €187 | +€154 | +466.7% |
| Gross operating margin | 9900 | -€53,985 | -€3,556 | +€50,429 | +93.4% |
| Operating profit (loss) | 9901 | -€58,116 | -€12,749 | +€45,367 | +78.1% |
| Financial income | 75/76B | €159,852 | €91 | -€159,761 | -99.9% |
| Recurring financial income | 75 | €159,852 | €91 | -€159,761 | -99.9% |
| Non-recurring financial income | 76B | €159,852 | - | -€159,852 | |
| Financial charges | 65/66B | €194 | €195 | +€1 | +0.5% |
| Recurring financial charges | 65 | €194 | €195 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €101,542 | -€12,853 | -€114,395 | |
| Income taxes | 67/77 | €8,441 | €27 | -€8,414 | -99.7% |
| Profit (loss) for the period | 9904 | €93,101 | -€12,880 | -€105,981 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,101 | -€12,880 | -€105,981 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.