CM-CONSTRUCT: 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.
CM-CONSTRUCT
Largest movements
- Tangible fixed assets -€12,200
down €12,200 (-36.3%), from €33,614 to €21,413
of which Furniture and vehicles: -€10,117
- Receivables within one year -€7,388
down €7,388 (-16.4%), from €44,974 to €37,586
of which Trade receivables: -€6,505
- Cash -€6,516
down €6,516 (-6.9%), from €94,363 to €87,847
mainly Other debts (-€22,791) and Tax, wage and social debts (-€9,526)
- Stocks and contracts +€4,301
up €4,301 (+98.9%), from €4,350 to €8,651
- Other debts -€22,791
down €22,791 (-53.1%), from €42,938 to €20,147
- Reserves +€17,184
up €17,184 (+20.5%), from €83,994 to €101,177
of which Distributable reserves: +€17,184
- Tax, wage and social debts -€9,526
down €9,526 (-44.5%), from €21,396 to €11,870
- Trade debts -€4,669
down €4,669 (-55.8%), from €8,373 to €3,704
- Advances received -€2,000
no longer reported in 2025 (was €2,000)
- Gross operating margin -€4,323
down €4,323 (-7.7%), from €56,067 to €51,744
- Taxes -€942
down €942 (-8.0%), from €11,731 to €10,789
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 | €177,301 | €155,498 | -€21,803 | -12.3% |
| Fixed assets | 21/28 | €33,614 | €21,413 | -€12,200 | -36.3% |
| Tangible fixed assets | 22/27 | €33,614 | €21,413 | -€12,200 | -36.3% |
| Plant, machinery and equipment | 23 | €5,293 | €3,210 | -€2,083 | -39.4% |
| Furniture and vehicles | 24 | €28,320 | €18,203 | -€10,117 | -35.7% |
| Current assets | 29/58 | €143,687 | €134,085 | -€9,603 | -6.7% |
| Stocks and contracts in progress | 3 | €4,350 | €8,651 | +€4,301 | +98.9% |
| Stocks | 30/36 | €4,350 | €8,651 | +€4,301 | +98.9% |
| Amounts receivable within one year | 40/41 | €44,974 | €37,586 | -€7,388 | -16.4% |
| Trade receivables | 40 | €37,380 | €30,875 | -€6,505 | -17.4% |
| Other amounts receivable | 41 | €7,594 | €6,711 | -€883 | -11.6% |
| Cash at bank and in hand | 54/58 | €94,363 | €87,847 | -€6,516 | -6.9% |
| Total equity and liabilities | 10/49 | €177,301 | €155,498 | -€21,803 | -12.3% |
| Equity | 10/15 | €102,594 | €119,777 | +€17,184 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,994 | €101,177 | +€17,184 | +20.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €82,134 | €99,317 | +€17,184 | +20.9% |
| Amounts payable | 17/49 | €74,707 | €35,721 | -€38,986 | -52.2% |
| Amounts payable within one year | 42/48 | €74,707 | €35,721 | -€38,986 | -52.2% |
| Trade debts | 44 | €8,373 | €3,704 | -€4,669 | -55.8% |
| Suppliers | 440/4 | €8,373 | €3,704 | -€4,669 | -55.8% |
| Advances received on contracts in progress | 46 | €2,000 | - | -€2,000 | |
| Taxes, remuneration and social security | 45 | €21,396 | €11,870 | -€9,526 | -44.5% |
| Taxes | 450/3 | €21,396 | €11,870 | -€9,526 | -44.5% |
| Other amounts payable | 47/48 | €42,938 | €20,147 | -€22,791 | -53.1% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,709 | €12,200 | -€509 | -4.0% |
| Other operating charges | 640/8 | €2,143 | €2,451 | +€309 | +14.4% |
| Gross operating margin | 9900 | €56,067 | €51,744 | -€4,323 | -7.7% |
| Operating profit (loss) | 9901 | €41,216 | €37,093 | -€4,123 | -10.0% |
| Financial income | 75/76B | €30 | €223 | +€193 | +645.1% |
| Recurring financial income | 75 | €30 | €223 | +€193 | +645.1% |
| Financial charges | 65/66B | €1,571 | €1,120 | -€450 | -28.7% |
| Recurring financial charges | 65 | €1,571 | €1,120 | -€450 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €39,675 | €36,195 | -€3,480 | -8.8% |
| Income taxes | 67/77 | €11,731 | €10,789 | -€942 | -8.0% |
| Profit (loss) for the period | 9904 | €27,944 | €25,407 | -€2,538 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,944 | €25,407 | -€2,538 | -9.1% |
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 11 October 2026 via checked.be.