CM2D: 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.
CM2D
Largest movements
- Tangible fixed assets +€137,322
up €137,322 (+39.4%), from €348,433 to €485,755
- Cash -€59,895
down €59,895 (-60.8%), from €98,494 to €38,600
mainly Investment in fixed assets (net) (-€137,322) and Net result for the year (-€21,794)
- Debts after one year +€99,700
up €99,700 (+29.9%), from €333,399 to €433,099
- Profit (loss) carried forward -€21,794
down €21,794 (-117.2%), from -€18,594 to -€40,388
- Financial charges +€5,598
up €5,598 (+46.9%), from €11,938 to €17,536
- Gross operating margin +€2,847
up €2,847 (+53.9%), from -€5,279 to -€2,432
- Other operating charges +€450
up €450 (+32.7%), from €1,376 to €1,826
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 | €447,684 | €526,282 | +€78,598 | +17.6% |
| Fixed assets | 21/28 | €348,433 | €485,755 | +€137,322 | +39.4% |
| Tangible fixed assets | 22/27 | €348,433 | €485,755 | +€137,322 | +39.4% |
| Land and buildings | 22 | €348,433 | €485,755 | +€137,322 | +39.4% |
| Current assets | 29/58 | €99,251 | €40,527 | -€58,725 | -59.2% |
| Amounts receivable within one year | 40/41 | - | €1,141 | +€1,141 | |
| Other amounts receivable | 41 | - | €1,141 | +€1,141 | |
| Cash at bank and in hand | 54/58 | €98,494 | €38,600 | -€59,895 | -60.8% |
| Deferred charges and accrued income | 490/1 | €757 | €786 | +€29 | +3.8% |
| Total equity and liabilities | 10/49 | €447,684 | €526,282 | +€78,598 | +17.6% |
| Equity | 10/15 | €106,406 | €84,612 | -€21,794 | -20.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,594 | -€40,388 | -€21,794 | -117.2% |
| Amounts payable | 17/49 | €341,278 | €441,670 | +€100,392 | +29.4% |
| Amounts payable after more than one year | 17 | €333,399 | €433,099 | +€99,700 | +29.9% |
| Financial debts | 170/4 | €333,399 | €433,099 | +€99,700 | +29.9% |
| Amounts payable within one year | 42/48 | €7,878 | €8,571 | +€693 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €7,878 | €8,172 | +€294 | +3.7% |
| Trade debts | 44 | - | €399 | +€399 | |
| Suppliers | 440/4 | - | €399 | +€399 | |
| Other operating charges | 640/8 | €1,376 | €1,826 | +€450 | +32.7% |
| Gross operating margin | 9900 | -€5,279 | -€2,432 | +€2,847 | +53.9% |
| Operating profit (loss) | 9901 | -€6,655 | -€4,258 | +€2,397 | +36.0% |
| Financial charges | 65/66B | €11,938 | €17,536 | +€5,598 | +46.9% |
| Recurring financial charges | 65 | €11,938 | €17,536 | +€5,598 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,594 | -€21,794 | -€3,201 | -17.2% |
| Profit (loss) for the period | 9904 | -€18,594 | -€21,794 | -€3,201 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,594 | -€21,794 | -€3,201 | -17.2% |
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 2 October 2026 via checked.be.