CENTER FOR MANAGEMENT SYSTEMS: 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.
CENTER FOR MANAGEMENT SYSTEMS
Largest movements
- Tangible fixed assets -€18,550
down €18,550 (-3.4%), from €539,547 to €520,998
of which Land and buildings: -€20,139
- Receivables within one year -€8,922
down €8,922 (-71.7%), from €12,438 to €3,516
- Reserves +€20,054
up €20,054 (+6.2%), from €323,538 to €343,593
of which Distributable reserves: +€20,054
- Current portion of long-term debt -€19,452
down €19,452 (-61.5%), from €31,615 to €12,163
- Debts after one year -€12,123
no longer reported in 2025 (was €12,123)
- Other debts -€9,757
down €9,757 (-7.3%), from €133,549 to €123,792
- Financial charges -€1,546
down €1,546 (-55.0%), from €2,810 to €1,264
- Depreciation -€1,230
down €1,230 (-5.3%), from €23,389 to €22,159
- Gross operating margin +€1,125
up €1,125 (+2.0%), from €55,989 to €57,113
- Taxes +€1,059
up €1,059 (+10.2%), from €10,404 to €11,463
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 | €553,864 | €530,147 | -€23,717 | -4.3% |
| Fixed assets | 21/28 | €539,610 | €521,060 | -€18,550 | -3.4% |
| Tangible fixed assets | 22/27 | €539,547 | €520,998 | -€18,550 | -3.4% |
| Land and buildings | 22 | €533,370 | €513,230 | -€20,139 | -3.8% |
| Furniture and vehicles | 24 | €6,178 | €7,767 | +€1,590 | +25.7% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €14,254 | €9,087 | -€5,167 | -36.2% |
| Amounts receivable within one year | 40/41 | €12,438 | €3,516 | -€8,922 | -71.7% |
| Trade receivables | 40 | €12,438 | €3,516 | -€8,922 | -71.7% |
| Cash at bank and in hand | 54/58 | €1,023 | €4,869 | +€3,846 | +376% |
| Deferred charges and accrued income | 490/1 | €793 | €702 | -€91 | -11.5% |
| Total equity and liabilities | 10/49 | €553,864 | €530,147 | -€23,717 | -4.3% |
| Equity | 10/15 | €342,138 | €362,193 | +€20,054 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €323,538 | €343,593 | +€20,054 | +6.2% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €317,538 | €337,593 | +€20,054 | +6.3% |
| Amounts payable | 17/49 | €211,725 | €167,954 | -€43,771 | -20.7% |
| Amounts payable after more than one year | 17 | €12,123 | - | -€12,123 | |
| Financial debts | 170/4 | €12,123 | - | -€12,123 | |
| Amounts payable within one year | 42/48 | €199,602 | €167,954 | -€31,648 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €31,615 | €12,163 | -€19,452 | -61.5% |
| Trade debts | 44 | €5,415 | €4,675 | -€741 | -13.7% |
| Suppliers | 440/4 | €5,415 | €4,675 | -€741 | -13.7% |
| Taxes, remuneration and social security | 45 | €29,023 | €27,325 | -€1,698 | -5.9% |
| Taxes | 450/3 | €29,023 | €27,325 | -€1,698 | -5.9% |
| Other amounts payable | 47/48 | €133,549 | €123,792 | -€9,757 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,389 | €22,159 | -€1,230 | -5.3% |
| Other operating charges | 640/8 | €2,072 | €2,175 | +€103 | +5.0% |
| Gross operating margin | 9900 | €55,989 | €57,113 | +€1,125 | +2.0% |
| Operating profit (loss) | 9901 | €30,528 | €32,780 | +€2,252 | +7.4% |
| Financial income | 75/76B | €21 | €2 | -€19 | -92.7% |
| Recurring financial income | 75 | €21 | €2 | -€19 | -92.7% |
| Financial charges | 65/66B | €2,810 | €1,264 | -€1,546 | -55.0% |
| Recurring financial charges | 65 | €2,810 | €1,264 | -€1,546 | -55.0% |
| Profit (loss) for the period before taxes | 9903 | €27,739 | €31,518 | +€3,778 | +13.6% |
| Income taxes | 67/77 | €10,404 | €11,463 | +€1,059 | +10.2% |
| Profit (loss) for the period | 9904 | €17,335 | €20,054 | +€2,719 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,335 | €20,054 | +€2,719 | +15.7% |
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 31 October 2026 via checked.be.