CM-TRAVEL: what changed
CM-TRAVEL
Largest movements
- Cash +€109,371
up €109,371 (+87.9%), from €124,434 to €233,805
mainly Net result for the year (+€42,449) and Trade debts (+€34,790)
- Receivables within one year -€27,185
down €27,185 (-71.5%), from €38,034 to €10,849
of which Trade receivables: -€33,880
- Tangible fixed assets -€12,550
down €12,550 (-19.0%), from €66,198 to €53,648
- Reserves +€42,449
up €42,449 (+8.4%), from €504,435 to €546,884
- Trade debts +€34,790
up €34,790 (+2,710%), from €1,284 to €36,074
- Tax, wage and social debts -€7,246
down €7,246 (-43.1%), from €16,809 to €9,563
- Gross operating margin -€20,179
down €20,179 (-20.5%), from €98,543 to €78,364
- Taxes -€6,649
down €6,649 (-22.1%), from €30,046 to €23,397
- Depreciation +€1,942
up €1,942 (+18.3%), from €10,609 to €12,550
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €529,035 | €598,721 | +€69,686 | +13.2% |
| Fixed assets | 21/28 | €365,823 | €353,273 | -€12,550 | -3.4% |
| Tangible fixed assets | 22/27 | €66,198 | €53,648 | -€12,550 | -19.0% |
| Furniture and vehicles | 24 | €66,198 | €53,648 | -€12,550 | -19.0% |
| Financial fixed assets | 28 | €299,625 | €299,625 | = | 0.0% |
| Current assets | 29/58 | €163,212 | €245,448 | +€82,236 | +50.4% |
| Amounts receivable within one year | 40/41 | €38,034 | €10,849 | -€27,185 | -71.5% |
| Trade receivables | 40 | €33,880 | - | -€33,880 | |
| Other amounts receivable | 41 | €4,154 | €10,849 | +€6,695 | +161% |
| Cash at bank and in hand | 54/58 | €124,434 | €233,805 | +€109,371 | +87.9% |
| Deferred charges and accrued income | 490/1 | €745 | €794 | +€49 | +6.6% |
| Total equity and liabilities | 10/49 | €529,035 | €598,721 | +€69,686 | +13.2% |
| Equity | 10/15 | €510,635 | €553,084 | +€42,449 | +8.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €504,435 | €546,884 | +€42,449 | +8.4% |
| Distributable reserves | 133 | €504,435 | €546,884 | +€42,449 | +8.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €18,401 | €45,637 | +€27,236 | +148% |
| Amounts payable within one year | 42/48 | €18,401 | €45,637 | +€27,236 | +148% |
| Trade debts | 44 | €1,284 | €36,074 | +€34,790 | +2,710% |
| Suppliers | 440/4 | €1,284 | €36,074 | +€34,790 | +2,710% |
| Taxes, remuneration and social security | 45 | €16,809 | €9,563 | -€7,246 | -43.1% |
| Taxes | 450/3 | €16,809 | €9,563 | -€7,246 | -43.1% |
| Other amounts payable | 47/48 | €308 | - | -€308 | |
| Non-recurring operating income | 76A | €4,614 | - | -€4,614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,609 | €12,550 | +€1,942 | +18.3% |
| Other operating charges | 640/8 | €999 | €1,104 | +€105 | +10.5% |
| Gross operating margin | 9900 | €98,543 | €78,364 | -€20,179 | -20.5% |
| Operating profit (loss) | 9901 | €86,936 | €64,710 | -€22,226 | -25.6% |
| Financial income | 75/76B | €1,369 | €1,286 | -€83 | -6.1% |
| Recurring financial income | 75 | €1,369 | €1,286 | -€83 | -6.1% |
| Financial charges | 65/66B | €137 | €150 | +€13 | +9.6% |
| Recurring financial charges | 65 | €137 | €150 | +€13 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €88,168 | €65,846 | -€22,322 | -25.3% |
| Income taxes | 67/77 | €30,046 | €23,397 | -€6,649 | -22.1% |
| Profit (loss) for the period | 9904 | €58,122 | €42,449 | -€15,673 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,122 | €42,449 | -€15,673 | -27.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.