CGM: 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.
CGM
Largest movements
- Receivables within one year -€4,464
down €4,464 (-58.8%), from €7,591 to €3,127
of which Trade receivables: -€4,464
- Tangible fixed assets -€1,934
no longer reported in 2025 (was €1,934)
- Cash +€454
up €454 (+7.3%), from €6,235 to €6,689
mainly Receivables within one year (+€4,464) and Investment in fixed assets (net) (+€1,833)
- Financial fixed assets -€300
no longer reported in 2025 (was €300)
- Deferred charges and accrued income +€203
new in 2025: €203
- Other debts -€3,497
down €3,497 (-55.6%), from €6,288 to €2,791
- Tax, wage and social debts -€3,298
down €3,298 (-62.1%), from €5,308 to €2,011
- Profit (loss) carried forward +€1,830
up €1,830 (+11.4%), from -€15,985 to -€14,155
- Trade debts -€1,076
down €1,076 (-58.2%), from €1,848 to €772
- Gross operating margin -€2,833
down €2,833 (-27.5%), from €10,314 to €7,482
- Other operating charges +€2,012
up €2,012 (+447.4%), from €450 to €2,461
- Staff costs -€1,920
no longer reported in 2025 (was €1,920)
- Financial charges +€1,402
up €1,402 (+1090.3%), from €129 to €1,530
- Depreciation -€753
down €753 (-65.3%), from €1,153 to €400
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 | €16,060 | €10,019 | -€6,041 | -37.6% |
| Fixed assets | 21/28 | €2,234 | - | -€2,234 | |
| Tangible fixed assets | 22/27 | €1,934 | - | -€1,934 | |
| Furniture and vehicles | 24 | €1,934 | - | -€1,934 | |
| Financial fixed assets | 28 | €300 | - | -€300 | |
| Current assets | 29/58 | €13,826 | €10,019 | -€3,807 | -27.5% |
| Amounts receivable within one year | 40/41 | €7,591 | €3,127 | -€4,464 | -58.8% |
| Trade receivables | 40 | €7,565 | €3,101 | -€4,464 | -59.0% |
| Other amounts receivable | 41 | €26 | €26 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,235 | €6,689 | +€454 | +7.3% |
| Deferred charges and accrued income | 490/1 | - | €203 | +€203 | |
| Total equity and liabilities | 10/49 | €16,060 | €10,019 | -€6,041 | -37.6% |
| Equity | 10/15 | €2,615 | €4,445 | +€1,830 | +70.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,985 | -€14,155 | +€1,830 | +11.4% |
| Amounts payable | 17/49 | €13,445 | €5,574 | -€7,871 | -58.5% |
| Amounts payable within one year | 42/48 | €13,445 | €5,574 | -€7,871 | -58.5% |
| Trade debts | 44 | €1,848 | €772 | -€1,076 | -58.2% |
| Suppliers | 440/4 | €1,848 | €772 | -€1,076 | -58.2% |
| Taxes, remuneration and social security | 45 | €5,308 | €2,011 | -€3,298 | -62.1% |
| Taxes | 450/3 | €5,308 | €2,011 | -€3,298 | -62.1% |
| Other amounts payable | 47/48 | €6,288 | €2,791 | -€3,497 | -55.6% |
| Remuneration, social security and pensions | 62 | €1,920 | - | -€1,920 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,153 | €400 | -€753 | -65.3% |
| Other operating charges | 640/8 | €450 | €2,461 | +€2,012 | +447.4% |
| Gross operating margin | 9900 | €10,314 | €7,482 | -€2,833 | -27.5% |
| Operating profit (loss) | 9901 | €6,792 | €4,620 | -€2,171 | -32.0% |
| Financial charges | 65/66B | €129 | €1,530 | +€1,402 | +1090.3% |
| Recurring financial charges | 65 | €129 | €1,530 | +€1,402 | +1090.3% |
| Profit (loss) for the period before taxes | 9903 | €6,663 | €3,090 | -€3,573 | -53.6% |
| Income taxes | 67/77 | €2,009 | €1,260 | -€749 | -37.3% |
| Profit (loss) for the period | 9904 | €4,654 | €1,830 | -€2,824 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,654 | €1,830 | -€2,824 | -60.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.