C2M CONCEPT: 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.
C2M CONCEPT
Largest movements
- Cash -€94,515
down €94,515 (-83.7%), from €112,892 to €18,378
mainly Contributions, distributions and other (-€72,632) and Current investments (-€60,000)
- Current investments +€60,000
new in 2025: €60,000
- Receivables within one year +€52,418
up €52,418 (+91.9%), from €57,016 to €109,434
of which Other amounts receivable: +€41,715
- Tangible fixed assets +€27,176
up €27,176 (+45.5%), from €59,751 to €86,927
of which Furniture and vehicles: +€21,713
- Other debts +€72,632
new in 2025: €72,632
- Reserves -€36,560
down €36,560 (-18.9%), from €193,050 to €156,490
- Debts after one year +€13,507
up €13,507, from €0 to €13,507
- Trade debts -€5,007
down €5,007 (-92.3%), from €5,424 to €417
- Gross operating margin +€9,177
up €9,177 (+8.7%), from €106,010 to €115,187
- Depreciation -€3,192
down €3,192 (-19.9%), from €16,041 to €12,849
- Staff costs +€2,094
up €2,094 (+5.2%), from €40,551 to €42,645
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 | €231,159 | €276,238 | +€45,079 | +19.5% |
| Fixed assets | 21/28 | €61,251 | €88,427 | +€27,176 | +44.4% |
| Tangible fixed assets | 22/27 | €59,751 | €86,927 | +€27,176 | +45.5% |
| Plant, machinery and equipment | 23 | €6,804 | €5,943 | -€861 | -12.7% |
| Furniture and vehicles | 24 | €33,605 | €55,318 | +€21,713 | +64.6% |
| Other tangible fixed assets | 26 | €19,342 | €25,665 | +€6,323 | +32.7% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €169,908 | €187,812 | +€17,903 | +10.5% |
| Amounts receivable within one year | 40/41 | €57,016 | €109,434 | +€52,418 | +91.9% |
| Trade receivables | 40 | €18,686 | €29,389 | +€10,703 | +57.3% |
| Other amounts receivable | 41 | €38,330 | €80,045 | +€41,715 | +108.8% |
| Current investments | 50/53 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €112,892 | €18,378 | -€94,515 | -83.7% |
| Total equity and liabilities | 10/49 | €231,159 | €276,238 | +€45,079 | +19.5% |
| Equity | 10/15 | €199,250 | €162,690 | -€36,560 | -18.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €193,050 | €156,490 | -€36,560 | -18.9% |
| Distributable reserves | 133 | €193,050 | €156,490 | -€36,560 | -18.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €31,909 | €113,548 | +€81,639 | +255.8% |
| Amounts payable after more than one year | 17 | €0 | €13,507 | +€13,507 | |
| Financial debts | 170/4 | €0 | €13,507 | +€13,507 | |
| Amounts payable within one year | 42/48 | €31,909 | €100,041 | +€68,132 | +213.5% |
| Current portion of amounts payable after more than one year | 42 | €8,203 | €8,169 | -€34 | -0.4% |
| Trade debts | 44 | €5,424 | €417 | -€5,007 | -92.3% |
| Suppliers | 440/4 | €5,424 | €417 | -€5,007 | -92.3% |
| Taxes, remuneration and social security | 45 | €18,282 | €18,823 | +€541 | +3.0% |
| Taxes | 450/3 | €12,901 | €13,249 | +€348 | +2.7% |
| Remuneration and social security | 454/9 | €5,382 | €5,574 | +€193 | +3.6% |
| Other amounts payable | 47/48 | - | €72,632 | +€72,632 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €40,551 | €42,645 | +€2,094 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,041 | €12,849 | -€3,192 | -19.9% |
| Other operating charges | 640/8 | €1,255 | €1,045 | -€210 | -16.7% |
| Non-recurring operating charges | 66A | - | €8,474 | +€8,474 | |
| Gross operating margin | 9900 | €106,010 | €115,187 | +€9,177 | +8.7% |
| Operating profit (loss) | 9901 | €48,163 | €50,174 | +€2,011 | +4.2% |
| Financial income | 75/76B | €1,705 | €2,389 | +€684 | +40.1% |
| Recurring financial income | 75 | €1,705 | €2,389 | +€684 | +40.1% |
| Financial charges | 65/66B | €772 | €595 | -€177 | -22.9% |
| Recurring financial charges | 65 | €772 | €595 | -€177 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €49,096 | €51,968 | +€2,872 | +5.8% |
| Income taxes | 67/77 | €15,424 | €15,896 | +€471 | +3.1% |
| Profit (loss) for the period | 9904 | €33,672 | €36,072 | +€2,400 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,672 | €36,072 | +€2,400 | +7.1% |
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 9 October 2026 via checked.be.