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
- Current investments -€40,000
down €40,000 (-4.0%), from €999,000 to €959,000
- Tangible fixed assets -€35,473
down €35,473 (-8.8%), from €403,773 to €368,300
of which Land and buildings: -€41,407
- Receivables within one year -€16,980
down €16,980 (-42.7%), from €39,727 to €22,747
of which Trade receivables: -€14,657
- Other debts -€53,610
down €53,610 (-28.7%), from €187,022 to €133,412
- Profit (loss) carried forward -€22,759
down €22,759 (-17.5%), from -€130,242 to -€153,001
- Gross operating margin +€58,162
up €58,162 (+479.4%), from €12,131 to €70,293
- Other operating charges -€9,749
down €9,749 (-46.6%), from €20,900 to €11,151
- Taxes -€7,570
down €7,570 (-64.9%), from €11,666 to €4,096
- Depreciation +€7,038
up €7,038 (+8.7%), from €81,072 to €88,109
- Financial income -€4,058
down €4,058 (-27.1%), from €14,970 to €10,912
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 | €1,686,019 | €1,601,538 | -€84,481 | -5.0% |
| Fixed assets | 21/28 | €403,773 | €368,300 | -€35,473 | -8.8% |
| Tangible fixed assets | 22/27 | €403,773 | €368,300 | -€35,473 | -8.8% |
| Land and buildings | 22 | €265,740 | €224,333 | -€41,407 | -15.6% |
| Plant, machinery and equipment | 23 | €7,451 | €52,403 | +€44,952 | +603.3% |
| Furniture and vehicles | 24 | €130,582 | €91,563 | -€39,018 | -29.9% |
| Current assets | 29/58 | €1,282,247 | €1,233,239 | -€49,008 | -3.8% |
| Stocks and contracts in progress | 3 | €2,932 | €2,932 | = | 0.0% |
| Stocks | 30/36 | €2,932 | €2,932 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,727 | €22,747 | -€16,980 | -42.7% |
| Trade receivables | 40 | €36,427 | €21,770 | -€14,657 | -40.2% |
| Other amounts receivable | 41 | €3,299 | €977 | -€2,323 | -70.4% |
| Current investments | 50/53 | €999,000 | €959,000 | -€40,000 | -4.0% |
| Cash at bank and in hand | 54/58 | €237,828 | €248,560 | +€10,732 | +4.5% |
| Deferred charges and accrued income | 490/1 | €2,759 | €0 | -€2,759 | -100.0% |
| Total equity and liabilities | 10/49 | €1,686,019 | €1,601,538 | -€84,481 | -5.0% |
| Equity | 10/15 | €1,479,738 | €1,456,978 | -€22,759 | -1.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,509,293 | €1,509,293 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €1,499,293 | €1,499,293 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,242 | -€153,001 | -€22,759 | -17.5% |
| Investment grants | 15 | €687 | €687 | = | 0.0% |
| Amounts payable | 17/49 | €206,282 | €144,560 | -€61,722 | -29.9% |
| Amounts payable within one year | 42/48 | €206,282 | €144,560 | -€61,722 | -29.9% |
| Trade debts | 44 | €16,947 | €11,043 | -€5,904 | -34.8% |
| Suppliers | 440/4 | €16,947 | €11,043 | -€5,904 | -34.8% |
| Taxes, remuneration and social security | 45 | €2,313 | €105 | -€2,208 | -95.5% |
| Taxes | 450/3 | €2,267 | €105 | -€2,162 | -95.4% |
| Remuneration and social security | 454/9 | €46 | €0 | -€46 | -100.0% |
| Other amounts payable | 47/48 | €187,022 | €133,412 | -€53,610 | -28.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €43,077 | €0 | -€43,077 | -100.0% |
| Remuneration, social security and pensions | 62 | €3,020 | €0 | -€3,020 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,072 | €88,109 | +€7,038 | +8.7% |
| Other operating charges | 640/8 | €20,900 | €11,151 | -€9,749 | -46.6% |
| Non-recurring operating charges | 66A | €42,283 | €0 | -€42,283 | -100.0% |
| Gross operating margin | 9900 | €12,131 | €70,293 | +€58,162 | +479.4% |
| Operating profit (loss) | 9901 | -€135,143 | -€28,968 | +€106,176 | +78.6% |
| Financial income | 75/76B | €14,970 | €10,912 | -€4,058 | -27.1% |
| Recurring financial income | 75 | €14,970 | €10,912 | -€4,058 | -27.1% |
| Financial charges | 65/66B | €1,406 | €608 | -€799 | -56.8% |
| Recurring financial charges | 65 | €1,406 | €608 | -€799 | -56.8% |
| Profit (loss) for the period before taxes | 9903 | -€121,580 | -€18,664 | +€102,916 | +84.6% |
| Income taxes | 67/77 | €11,666 | €4,096 | -€7,570 | -64.9% |
| Profit (loss) for the period | 9904 | -€133,246 | -€22,759 | +€110,487 | +82.9% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€133,246 | -€22,759 | +€110,487 | +82.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.