CIMAX: 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.
CIMAX
Largest movements
- Receivables within one year -€223,830
down €223,830 (-52.1%), from €429,847 to €206,017
of which Other amounts receivable: -€234,830
- Cash +€186,833
up €186,833 (+145%), from €128,567 to €315,400
mainly Receivables within one year (+€223,830) and Depreciation (+€79,422)
- Current investments +€58,625
new in 2025: €58,625
- Tangible fixed assets -€37,155
down €37,155 (-2.7%), from €1.4m to €1.3m
of which Land and buildings: -€62,713
- Debts after one year -€74,296
down €74,296 (-6.8%), from €1.1m to €1.0m
- Reserves +€58,898
up €58,898 (+10.8%), from €546,589 to €605,487
of which Distributable reserves: +€69,776
- Depreciation -€43,529
down €43,529 (-35.4%), from €122,950 to €79,422
- Gross operating margin +€36,393
up €36,393 (+22.3%), from €162,857 to €199,250
- Taxes +€26,729
up €26,729 (+371%), from €7,202 to €33,931
- Other operating charges +€3,831
up €3,831 (+171%), from €2,235 to €6,066
- Financial income -€3,550
down €3,550 (-29.9%), from €11,890 to €8,339
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 | €1,927,347 | €1,908,911 | -€18,436 | -1.0% |
| Fixed assets | 21/28 | €1,364,688 | €1,327,533 | -€37,155 | -2.7% |
| Tangible fixed assets | 22/27 | €1,364,688 | €1,327,533 | -€37,155 | -2.7% |
| Land and buildings | 22 | €1,359,300 | €1,296,587 | -€62,713 | -4.6% |
| Plant, machinery and equipment | 23 | €1,160 | €3,198 | +€2,038 | +176% |
| Furniture and vehicles | 24 | €4,227 | €27,748 | +€23,520 | +556% |
| Current assets | 29/58 | €562,659 | €581,379 | +€18,719 | +3.3% |
| Amounts receivable within one year | 40/41 | €429,847 | €206,017 | -€223,830 | -52.1% |
| Trade receivables | 40 | - | €11,000 | +€11,000 | |
| Other amounts receivable | 41 | €429,847 | €195,017 | -€234,830 | -54.6% |
| Current investments | 50/53 | - | €58,625 | +€58,625 | |
| Cash at bank and in hand | 54/58 | €128,567 | €315,400 | +€186,833 | +145% |
| Deferred charges and accrued income | 490/1 | €4,246 | €1,337 | -€2,908 | -68.5% |
| Total equity and liabilities | 10/49 | €1,927,347 | €1,908,911 | -€18,436 | -1.0% |
| Equity | 10/15 | €554,789 | €613,687 | +€58,898 | +10.6% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | €546,589 | €605,487 | +€58,898 | +10.8% |
| Tax-exempt reserves | 132 | €84,755 | €73,876 | -€10,878 | -12.8% |
| Distributable reserves | 133 | €461,834 | €531,611 | +€69,776 | +15.1% |
| Provisions and deferred taxes | 16 | €28,837 | €24,265 | -€4,572 | -15.9% |
| Deferred taxes | 168 | €28,837 | €24,265 | -€4,572 | -15.9% |
| Amounts payable | 17/49 | €1,343,721 | €1,270,960 | -€72,761 | -5.4% |
| Amounts payable after more than one year | 17 | €1,092,185 | €1,017,889 | -€74,296 | -6.8% |
| Financial debts | 170/4 | €1,092,185 | €1,017,889 | -€74,296 | -6.8% |
| Amounts payable within one year | 42/48 | €241,334 | €240,900 | -€434 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €72,879 | €74,228 | +€1,349 | +1.9% |
| Financial debts | 43 | €6,272 | €8,399 | +€2,127 | +33.9% |
| Credit institutions | 430/8 | €6,272 | €8,399 | +€2,127 | +33.9% |
| Trade debts | 44 | €1,104 | €448 | -€656 | -59.4% |
| Suppliers | 440/4 | €1,104 | €448 | -€656 | -59.4% |
| Advances received on contracts in progress | 46 | €11,000 | €0 | -€11,000 | -100% |
| Taxes, remuneration and social security | 45 | €115 | €16,330 | +€16,215 | +14,067% |
| Taxes | 450/3 | €115 | €16,330 | +€16,215 | +14,067% |
| Other amounts payable | 47/48 | €149,963 | €141,494 | -€8,469 | -5.6% |
| Accrued charges and deferred income | 492/3 | €10,202 | €12,171 | +€1,969 | +19.3% |
| Non-recurring operating income | 76A | - | €5,932 | +€5,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,950 | €79,422 | -€43,529 | -35.4% |
| Other operating charges | 640/8 | €2,235 | €6,066 | +€3,831 | +171% |
| Gross operating margin | 9900 | €162,857 | €199,250 | +€36,393 | +22.3% |
| Operating profit (loss) | 9901 | €37,671 | €113,762 | +€76,091 | +202% |
| Financial income | 75/76B | €11,890 | €8,339 | -€3,550 | -29.9% |
| Recurring financial income | 75 | €11,890 | €8,339 | -€3,550 | -29.9% |
| Financial charges | 65/66B | €33,173 | €33,845 | +€671 | +2.0% |
| Recurring financial charges | 65 | €33,173 | €33,845 | +€671 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €16,388 | €88,257 | +€71,869 | +439% |
| Transfer from deferred taxes | 780 | €4,656 | €4,572 | -€84 | -1.8% |
| Income taxes | 67/77 | €7,202 | €33,931 | +€26,729 | +371% |
| Profit (loss) for the period | 9904 | €13,842 | €58,898 | +€45,056 | +325% |
| Transfer from tax-exempt reserves | 789 | €11,041 | €10,878 | -€162 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,883 | €69,776 | +€44,893 | +180% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.