CGMV: 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.
CGMV
Largest movements
- Receivables within one year -€13,350
no longer reported in 2025 (was €13,350)
- Other debts -€12,565
down €12,565 (-30.8%), from €40,760 to €28,194
- Profit (loss) carried forward -€825
down €825 (-1.6%), from -€51,757 to -€52,581
- Tax, wage and social debts -€795
down €795 (-95.7%), from €831 to €36
- Short-term financial debts +€791
up €791 (+16.1%), from €4,900 to €5,691
- Gross operating margin -€29,783
down €29,783, from €29,758 to -€25
- Financial charges -€2,502
down €2,502 (-75.8%), from €3,302 to €800
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 | €13,364 | - | -€13,364 | |
| Current assets | 29/58 | €13,364 | - | -€13,364 | |
| Amounts receivable within one year | 40/41 | €13,350 | - | -€13,350 | |
| Trade receivables | 40 | €13,350 | - | -€13,350 | |
| Cash at bank and in hand | 54/58 | €14 | - | -€14 | |
| Total equity and liabilities | 10/49 | €13,364 | - | -€13,364 | |
| Equity | 10/15 | -€33,157 | -€33,981 | -€825 | -2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,757 | -€52,581 | -€825 | -1.6% |
| Amounts payable | 17/49 | €46,521 | €33,981 | -€12,539 | -27.0% |
| Amounts payable within one year | 42/48 | €46,521 | €33,981 | -€12,539 | -27.0% |
| Financial debts | 43 | €4,900 | €5,691 | +€791 | +16.1% |
| Credit institutions | 430/8 | €4,900 | €5,691 | +€791 | +16.1% |
| Trade debts | 44 | €30 | €60 | +€30 | +98.4% |
| Suppliers | 440/4 | €30 | €60 | +€30 | +98.4% |
| Taxes, remuneration and social security | 45 | €831 | €36 | -€795 | -95.7% |
| Taxes | 450/3 | €831 | €36 | -€795 | -95.7% |
| Other amounts payable | 47/48 | €40,760 | €28,194 | -€12,565 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239 | - | -€239 | |
| Other operating charges | 640/8 | €89 | - | -€89 | |
| Gross operating margin | 9900 | €29,758 | -€25 | -€29,783 | |
| Operating profit (loss) | 9901 | €29,430 | -€25 | -€29,455 | |
| Financial charges | 65/66B | €3,302 | €800 | -€2,502 | -75.8% |
| Recurring financial charges | 65 | €3,302 | €800 | -€2,502 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €26,129 | -€825 | -€26,953 | |
| Profit (loss) for the period | 9904 | €26,129 | -€825 | -€26,953 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,129 | -€825 | -€26,953 |
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 29 September 2026 via checked.be.