CM PROJECTS: 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 PROJECTS
Largest movements
- Financial fixed assets +€3.2m
new in 2025: €3.2m
- Receivables within one year +€765,871
up €765,871 (+3689168.4%), from €21 to €765,892
- Cash +€515,083
up €515,083 (+10517.1%), from €4,898 to €519,981
mainly Other debts (+€4.5m) and Stocks and contracts (+€38,363)
- Other debts +€4.5m
up €4.5m (+29151.0%), from €15,384 to €4.5m
- Gross operating margin -€3,410
down €3,410 (-103.6%), from -€3,293 to -€6,703
- Other operating charges +€351
up €351 (+67.0%), from €523 to €874
- Financial charges +€78
up €78 (+45.9%), from €169 to €247
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 | €43,282 | €4,520,073 | +€4.5m | +10343.4% |
| Fixed assets | 21/28 | - | €3,234,201 | +€3.2m | |
| Financial fixed assets | 28 | - | €3,234,201 | +€3.2m | |
| Current assets | 29/58 | €43,282 | €1,285,873 | +€1.2m | +2870.9% |
| Stocks and contracts in progress | 3 | €38,363 | €0 | -€38,363 | -100.0% |
| Stocks | 30/36 | €38,363 | €0 | -€38,363 | -100.0% |
| Amounts receivable within one year | 40/41 | €21 | €765,892 | +€765,871 | +3689168.4% |
| Other amounts receivable | 41 | €21 | €765,892 | +€765,871 | +3689168.4% |
| Cash at bank and in hand | 54/58 | €4,898 | €519,981 | +€515,083 | +10517.1% |
| Total equity and liabilities | 10/49 | €43,282 | €4,520,073 | +€4.5m | +10343.4% |
| Equity | 10/15 | €27,897 | €20,073 | -€7,824 | -28.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,305 | €9,305 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €7,446 | €7,446 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€7,824 | -€7,824 | |
| Amounts payable | 17/49 | €15,384 | €4,500,000 | +€4.5m | +29151.0% |
| Amounts payable within one year | 42/48 | €15,384 | €4,500,000 | +€4.5m | +29151.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €15,384 | €4,500,000 | +€4.5m | +29151.0% |
| Other operating charges | 640/8 | €523 | €874 | +€351 | +67.0% |
| Gross operating margin | 9900 | -€3,293 | -€6,703 | -€3,410 | -103.6% |
| Operating profit (loss) | 9901 | -€3,816 | -€7,578 | -€3,761 | -98.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €169 | €247 | +€78 | +45.9% |
| Recurring financial charges | 65 | €169 | €247 | +€78 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,985 | -€7,824 | -€3,839 | -96.3% |
| Profit (loss) for the period | 9904 | -€3,985 | -€7,824 | -€3,839 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,985 | -€7,824 | -€3,839 | -96.3% |
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.