CGHM: 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.
CGHM
Largest movements
- Current investments -€1.2m
no longer reported in 2025 (was €1.2m)
- Cash +€984,506
up €984,506 (+56.6%), from €1.7m to €2.7m
mainly Current investments (+€1.2m) and Net result for the year (+€444,360)
- Other debts -€695,915
down €695,915 (-97.4%), from €714,537 to €18,622
- Reserves +€437,000
up €437,000 (+18.3%), from €2.4m to €2.8m
- Staff costs +€194,229
up €194,229 (+32.5%), from €597,363 to €791,591
- Taxes -€57,914
down €57,914 (-21.9%), from €264,545 to €206,632
- Gross operating margin +€55,694
up €55,694 (+3.9%), from €1.4m to €1.5m
- Financial income -€34,920
down €34,920 (-35.6%), from €98,103 to €63,183
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 | €3,329,060 | €3,052,268 | -€276,791 | -8.3% |
| Fixed assets | 21/28 | €216,554 | €191,989 | -€24,565 | -11.3% |
| Tangible fixed assets | 22/27 | €215,465 | €190,900 | -€24,565 | -11.4% |
| Land and buildings | 22 | €126,820 | €110,515 | -€16,305 | -12.9% |
| Plant, machinery and equipment | 23 | €18,492 | €24,247 | +€5,755 | +31.1% |
| Furniture and vehicles | 24 | €70,153 | €56,137 | -€14,015 | -20.0% |
| Financial fixed assets | 28 | €1,089 | €1,089 | = | 0.0% |
| Current assets | 29/58 | €3,112,506 | €2,860,279 | -€252,226 | -8.1% |
| Amounts receivable within one year | 40/41 | €134,723 | €131,722 | -€3,001 | -2.2% |
| Trade receivables | 40 | €82,381 | €90,195 | +€7,814 | +9.5% |
| Other amounts receivable | 41 | €52,342 | €41,526 | -€10,816 | -20.7% |
| Current investments | 50/53 | €1,213,684 | - | -€1.2m | |
| Cash at bank and in hand | 54/58 | €1,740,254 | €2,724,760 | +€984,506 | +56.6% |
| Deferred charges and accrued income | 490/1 | €23,845 | €3,798 | -€20,048 | -84.1% |
| Total equity and liabilities | 10/49 | €3,329,060 | €3,052,268 | -€276,791 | -8.3% |
| Equity | 10/15 | €2,413,928 | €2,850,994 | +€437,066 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,388,100 | €2,825,100 | +€437,000 | +18.3% |
| Distributable reserves | 133 | €2,388,100 | €2,825,100 | +€437,000 | +18.3% |
| Profit (loss) carried forward | 14 | €7,228 | €7,294 | +€66 | +0.9% |
| Amounts payable | 17/49 | €915,132 | €201,275 | -€713,857 | -78.0% |
| Amounts payable within one year | 42/48 | €914,101 | €201,275 | -€712,826 | -78.0% |
| Trade debts | 44 | €75,083 | €45,382 | -€29,701 | -39.6% |
| Suppliers | 440/4 | €75,083 | €45,382 | -€29,701 | -39.6% |
| Taxes, remuneration and social security | 45 | €124,481 | €137,271 | +€12,790 | +10.3% |
| Taxes | 450/3 | €48,713 | €48,988 | +€274 | +0.6% |
| Remuneration and social security | 454/9 | €75,768 | €88,283 | +€12,515 | +16.5% |
| Other amounts payable | 47/48 | €714,537 | €18,622 | -€695,915 | -97.4% |
| Accrued charges and deferred income | 492/3 | €1,031 | - | -€1,031 | |
| Remuneration, social security and pensions | 62 | €597,363 | €791,591 | +€194,229 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,951 | €50,509 | +€11,558 | +29.7% |
| Other operating charges | 640/8 | €36,614 | €38,988 | +€2,374 | +6.5% |
| Non-recurring operating charges | 66A | €2,771 | €4,070 | +€1,299 | +46.9% |
| Gross operating margin | 9900 | €1,421,308 | €1,477,002 | +€55,694 | +3.9% |
| Operating profit (loss) | 9901 | €745,610 | €591,845 | -€153,766 | -20.6% |
| Financial income | 75/76B | €98,103 | €63,183 | -€34,920 | -35.6% |
| Recurring financial income | 75 | €98,103 | €63,183 | -€34,920 | -35.6% |
| Financial charges | 65/66B | €3,751 | €4,036 | +€285 | +7.6% |
| Recurring financial charges | 65 | €3,751 | €4,036 | +€285 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €839,963 | €650,992 | -€188,971 | -22.5% |
| Income taxes | 67/77 | €264,545 | €206,632 | -€57,914 | -21.9% |
| Profit (loss) for the period | 9904 | €575,417 | €444,360 | -€131,057 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €575,417 | €444,360 | -€131,057 | -22.8% |
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 1 October 2026 via checked.be.