CBM BELGIUM: 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.
CBM BELGIUM
Largest movements
- Receivables within one year +€65,096
up €65,096 (+94.5%), from €68,849 to €133,946
of which Trade receivables: +€56,395
- Tangible fixed assets +€45,291
new in 2025: €45,291
- Cash -€11,478
down €11,478 (-22.8%), from €50,361 to €38,884
mainly Receivables within one year (-€65,096) and Investment in fixed assets (net) (-€57,132)
- Other debts +€56,196
new in 2025: €56,196
- Trade debts +€18,481
up €18,481 (+827%), from €2,235 to €20,716
- Profit (loss) carried forward +€14,922
up €14,922 (+47.6%), from €31,325 to €46,247
- Tax, wage and social debts +€7,160
up €7,160 (+26.5%), from €27,019 to €34,179
of which Taxes: +€3,666
- Gross operating margin +€57,701
up €57,701 (+27.3%), from €211,373 to €269,074
- Staff costs +€31,883
up €31,883 (+16.2%), from €196,238 to €228,121
- Depreciation +€11,393
up €11,393 (+1,613%), from €706 to €12,099
- Taxes +€3,666
up €3,666 (+95.2%), from €3,852 to €7,519
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 | €124,280 | €222,239 | +€97,959 | +78.8% |
| Formation expenses | 20 | €1,039 | €780 | -€258 | -24.9% |
| Fixed assets | 21/28 | €3,000 | €48,291 | +€45,291 | +1,510% |
| Tangible fixed assets | 22/27 | - | €45,291 | +€45,291 | |
| Furniture and vehicles | 24 | - | €45,291 | +€45,291 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €120,241 | €173,167 | +€52,927 | +44.0% |
| Amounts receivable within one year | 40/41 | €68,849 | €133,946 | +€65,096 | +94.5% |
| Trade receivables | 40 | €68,158 | €124,553 | +€56,395 | +82.7% |
| Other amounts receivable | 41 | €691 | €9,392 | +€8,701 | +1,259% |
| Cash at bank and in hand | 54/58 | €50,361 | €38,884 | -€11,478 | -22.8% |
| Deferred charges and accrued income | 490/1 | €1,030 | €338 | -€692 | -67.2% |
| Total equity and liabilities | 10/49 | €124,280 | €222,239 | +€97,959 | +78.8% |
| Equity | 10/15 | €95,025 | €111,147 | +€16,122 | +17.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,700 | €2,900 | +€1,200 | +70.6% |
| Non-distributable reserves | 130/1 | €1,700 | €2,900 | +€1,200 | +70.6% |
| Legal reserve | 130 | €1,700 | €2,900 | +€1,200 | +70.6% |
| Profit (loss) carried forward | 14 | €31,325 | €46,247 | +€14,922 | +47.6% |
| Amounts payable | 17/49 | €29,254 | €111,092 | +€81,838 | +280% |
| Amounts payable within one year | 42/48 | €29,254 | €111,092 | +€81,838 | +280% |
| Trade debts | 44 | €2,235 | €20,716 | +€18,481 | +827% |
| Suppliers | 440/4 | €2,235 | €20,716 | +€18,481 | +827% |
| Taxes, remuneration and social security | 45 | €27,019 | €34,179 | +€7,160 | +26.5% |
| Taxes | 450/3 | €3,852 | €7,519 | +€3,666 | +95.2% |
| Remuneration and social security | 454/9 | €23,167 | €26,661 | +€3,494 | +15.1% |
| Other amounts payable | 47/48 | - | €56,196 | +€56,196 | |
| Remuneration, social security and pensions | 62 | €196,238 | €228,121 | +€31,883 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €706 | €12,099 | +€11,393 | +1,613% |
| Other operating charges | 640/8 | €1,553 | €3,436 | +€1,882 | +121% |
| Gross operating margin | 9900 | €211,373 | €269,074 | +€57,701 | +27.3% |
| Operating profit (loss) | 9901 | €12,875 | €25,418 | +€12,543 | +97.4% |
| Financial charges | 65/66B | €1,187 | €1,778 | +€591 | +49.8% |
| Recurring financial charges | 65 | €1,187 | €1,778 | +€591 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €11,688 | €23,640 | +€11,952 | +102% |
| Income taxes | 67/77 | €3,852 | €7,519 | +€3,666 | +95.2% |
| Profit (loss) for the period | 9904 | €7,836 | €16,122 | +€8,286 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €7,836 | €16,122 | +€8,286 | +106% |
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 19 October 2026 via checked.be.