CM: 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.
CM
Largest movements
- Cash +€45,118
up €45,118 (+3255.9%), from €1,386 to €46,503
mainly Contributions, distributions and other (+€45,000) and Depreciation (+€2,639)
- Receivables within one year +€4,839
up €4,839 (+6.5%), from €73,958 to €78,798
of which Other amounts receivable: +€8,822
- Tangible fixed assets -€2,639
down €2,639 (-55.2%), from €4,780 to €2,141
of which Other tangible fixed assets: -€2,144
- Contributions +€45,000
new in 2025: €45,000
- Profit (loss) carried forward +€2,270
up €2,270 (+34.1%), from -€6,662 to -€4,392
- Gross operating margin -€17,614
down €17,614, from €16,941 to -€672
- Financial income +€6,259
new in 2025: €6,259
- Taxes -€3,646
no longer reported in 2025 (was €3,646)
- Other operating charges -€1,069
no longer reported in 2025 (was €1,069)
- Financial charges +€524
up €524 (+342.2%), from €153 to €677
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 | €135,204 | €182,522 | +€47,318 | +35.0% |
| Fixed assets | 21/28 | €4,780 | €2,141 | -€2,639 | -55.2% |
| Tangible fixed assets | 22/27 | €4,780 | €2,141 | -€2,639 | -55.2% |
| Plant, machinery and equipment | 23 | €217 | €28 | -€189 | -87.0% |
| Furniture and vehicles | 24 | €626 | €319 | -€307 | -49.0% |
| Other tangible fixed assets | 26 | €3,937 | €1,793 | -€2,144 | -54.4% |
| Current assets | 29/58 | €130,424 | €180,381 | +€49,957 | +38.3% |
| Amounts receivable after more than one year | 29 | €55,080 | €55,080 | = | 0.0% |
| Other amounts receivable | 291 | €55,080 | €55,080 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €73,958 | €78,798 | +€4,839 | +6.5% |
| Trade receivables | 40 | €6,818 | €2,835 | -€3,983 | -58.4% |
| Other amounts receivable | 41 | €67,141 | €75,963 | +€8,822 | +13.1% |
| Cash at bank and in hand | 54/58 | €1,386 | €46,503 | +€45,118 | +3255.9% |
| Total equity and liabilities | 10/49 | €135,204 | €182,522 | +€47,318 | +35.0% |
| Equity | 10/15 | €128,755 | €176,026 | +€47,270 | +36.7% |
| Contributions | 10/11 | - | €45,000 | +€45,000 | |
| Reserves | 13 | €135,417 | €135,417 | = | 0.0% |
| Distributable reserves | 133 | €135,417 | €135,417 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,662 | -€4,392 | +€2,270 | +34.1% |
| Amounts payable | 17/49 | €6,449 | €6,496 | +€47 | +0.7% |
| Amounts payable within one year | 42/48 | €4,564 | €4,153 | -€411 | -9.0% |
| Trade debts | 44 | - | €273 | +€273 | |
| Suppliers | 440/4 | - | €273 | +€273 | |
| Taxes, remuneration and social security | 45 | €4,564 | €3,880 | -€683 | -15.0% |
| Taxes | 450/3 | €4,564 | €3,880 | -€683 | -15.0% |
| Accrued charges and deferred income | 492/3 | €1,885 | €2,343 | +€458 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,361 | €2,639 | +€278 | +11.8% |
| Other operating charges | 640/8 | €1,069 | - | -€1,069 | |
| Gross operating margin | 9900 | €16,941 | -€672 | -€17,614 | |
| Operating profit (loss) | 9901 | €13,511 | -€3,312 | -€16,822 | |
| Financial income | 75/76B | - | €6,259 | +€6,259 | |
| Recurring financial income | 75 | - | €6,259 | +€6,259 | |
| Financial charges | 65/66B | €153 | €677 | +€524 | +342.2% |
| Recurring financial charges | 65 | €153 | €677 | +€524 | +342.2% |
| Profit (loss) for the period before taxes | 9903 | €13,357 | €2,270 | -€11,087 | -83.0% |
| Income taxes | 67/77 | €3,646 | - | -€3,646 | |
| Profit (loss) for the period | 9904 | €9,711 | €2,270 | -€7,441 | -76.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,711 | €2,270 | -€7,441 | -76.6% |
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 8 October 2026 via checked.be.