C5M: 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.
C5M
Largest movements
- Receivables within one year +€16,116
up €16,116 (+26.3%), from €61,219 to €77,335
of which Other amounts receivable: +€18,841
- Tangible fixed assets -€956
down €956 (-56.5%), from €1,691 to €735
- Profit (loss) carried forward +€15,987
up €15,987 (+43.0%), from €37,137 to €53,123
- Current portion of long-term debt -€15,000
no longer reported in 2026 (was €15,000)
- Tax, wage and social debts +€13,957
up €13,957 (+548.8%), from €2,543 to €16,500
of which Taxes: +€13,957
- Other debts +€2,972
new in 2026: €2,972
- Trade debts -€1,585
down €1,585 (-36.6%), from €4,325 to €2,740
- Gross operating margin +€27,502
up €27,502 (+53.2%), from €51,721 to €79,223
- Taxes -€8,982
down €8,982 (-59.9%), from €15,000 to €6,018
- Financial income -€3,498
no longer reported in 2026 (was €3,498)
- Other operating charges +€936
new in 2026: €936
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,005 | €79,335 | +€16,330 | +25.9% |
| Fixed assets | 21/28 | €1,691 | €735 | -€956 | -56.5% |
| Tangible fixed assets | 22/27 | €1,691 | €735 | -€956 | -56.5% |
| Furniture and vehicles | 24 | €1,691 | €735 | -€956 | -56.5% |
| Current assets | 29/58 | €61,314 | €78,600 | +€17,286 | +28.2% |
| Amounts receivable within one year | 40/41 | €61,219 | €77,335 | +€16,116 | +26.3% |
| Trade receivables | 40 | €7,227 | €4,501 | -€2,726 | -37.7% |
| Other amounts receivable | 41 | €53,993 | €72,834 | +€18,841 | +34.9% |
| Cash at bank and in hand | 54/58 | €94 | €782 | +€687 | +727.7% |
| Deferred charges and accrued income | 490/1 | €0 | €483 | +€483 | |
| Total equity and liabilities | 10/49 | €63,005 | €79,335 | +€16,330 | +25.9% |
| Equity | 10/15 | €41,137 | €57,123 | +€15,987 | +38.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,137 | €53,123 | +€15,987 | +43.0% |
| Amounts payable | 17/49 | €21,868 | €22,212 | +€344 | +1.6% |
| Amounts payable within one year | 42/48 | €21,868 | €22,212 | +€344 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | - | -€15,000 | |
| Trade debts | 44 | €4,325 | €2,740 | -€1,585 | -36.6% |
| Suppliers | 440/4 | €4,325 | €2,740 | -€1,585 | -36.6% |
| Taxes, remuneration and social security | 45 | €2,543 | €16,500 | +€13,957 | +548.8% |
| Taxes | 450/3 | €2,543 | €16,500 | +€13,957 | +548.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €2,972 | +€2,972 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €956 | €956 | +€0 | 0.0% |
| Other operating charges | 640/8 | - | €936 | +€936 | |
| Non-recurring operating charges | 66A | €1,600 | - | -€1,600 | |
| Gross operating margin | 9900 | €51,721 | €79,223 | +€27,502 | +53.2% |
| Operating profit (loss) | 9901 | €49,165 | €77,331 | +€28,166 | +57.3% |
| Financial income | 75/76B | €3,498 | - | -€3,498 | |
| Recurring financial income | 75 | €3,498 | - | -€3,498 | |
| Financial charges | 65/66B | €152 | €327 | +€174 | +114.2% |
| Recurring financial charges | 65 | €152 | €327 | +€174 | +114.2% |
| Profit (loss) for the period before taxes | 9903 | €52,510 | €77,004 | +€24,495 | +46.6% |
| Income taxes | 67/77 | €15,000 | €6,018 | -€8,982 | -59.9% |
| Profit (loss) for the period | 9904 | €37,510 | €70,987 | +€33,477 | +89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,510 | €70,987 | +€33,477 | +89.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.