CGM Expertise: 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 Expertise
Largest movements
- Cash -€1,562
down €1,562 (-86.0%), from €1,817 to €255
mainly Net result for the year (-€7,954) and Receivables within one year (-€1,454)
- Receivables within one year +€1,454
up €1,454, from €0 to €1,454
of which Other amounts receivable: +€1,454
- Receivables after one year -€590
no longer reported in 2025 (was €590)
of which Trade receivables: -€590
- Profit (loss) carried forward -€7,954
down €7,954, from €301 to -€7,652
- Trade debts +€7,381
new in 2025: €7,381
- Tax, wage and social debts -€126
down €126 (-61.2%), from €206 to €80
- Gross operating margin -€9,289
down €9,289, from €1,948 to -€7,340
- Purchases and services +€6,170
up €6,170 (+527%), from €1,170 to €7,340
- Turnover -€3,119
no longer reported in 2025 (was €3,119)
- Depreciation -€1,253
no longer reported in 2025 (was €1,253)
- Financial charges +€112
up €112 (+508%), from €22 to €134
of which Financial charges: +€126
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 | €2,407 | €1,709 | -€698 | -29.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | - | = | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,407 | €1,709 | -€698 | -29.0% |
| Amounts receivable after more than one year | 29 | €590 | - | -€590 | |
| Trade receivables | 290 | €590 | - | -€590 | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €0 | €1,454 | +€1,454 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €1,454 | +€1,454 | |
| Current investments | 50/53 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €1,817 | €255 | -€1,562 | -86.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,407 | €1,709 | -€698 | -29.0% |
| Equity | 10/15 | €2,201 | -€5,752 | -€7,954 | |
| Contributions | 10/11 | €1,900 | €1,900 | = | 0.0% |
| Capital | 10 | €1,900 | €1,900 | = | 0.0% |
| Issued capital | 100 | €1,900 | €1,900 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Contributions outside capital | 11 | €0 | - | = | |
| Share premium | 1100/10 | €0 | - | = | |
| Other | 1109/19 | €0 | - | = | |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Legal reserve | 130 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Financial assistance | 1313 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €301 | -€7,652 | -€7,954 | |
| Amounts payable | 17/49 | €206 | €7,461 | +€7,255 | +3,521% |
| Amounts payable within one year | 42/48 | €206 | €7,461 | +€7,255 | +3,521% |
| Trade debts | 44 | - | €7,381 | +€7,381 | |
| Suppliers | 440/4 | - | €7,381 | +€7,381 | |
| Taxes, remuneration and social security | 45 | €206 | €80 | -€126 | -61.2% |
| Taxes | 450/3 | €206 | €80 | -€126 | -61.2% |
| Turnover | 70 | €3,119 | - | -€3,119 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,170 | €7,340 | +€6,170 | +527% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,253 | - | -€1,253 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €1,948 | -€7,340 | -€9,289 | |
| Operating profit (loss) | 9901 | €308 | -€7,740 | -€8,049 | |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Non-recurring financial income | 76B | €15 | - | -€15 | |
| Financial charges | 65/66B | €22 | €134 | +€112 | +508% |
| Recurring financial charges | 65 | €8 | €134 | +€126 | +1,682% |
| Non-recurring financial charges | 66B | €15 | - | -€15 | |
| Profit (loss) for the period before taxes | 9903 | €301 | -€7,874 | -€8,175 | |
| Income taxes | 67/77 | - | €80 | +€80 | |
| Profit (loss) for the period | 9904 | €301 | -€7,954 | -€8,255 | |
| Profit (loss) for the period to be appropriated | 9905 | €301 | -€7,954 | -€8,255 |
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 13 October 2026 via checked.be.