CM4Cure: 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.
What changed
CM4Cure
NACE 72.101, Research and development on biotechnology
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€152,297
2024 · -€358,924+€206,626
Equity
€1.8m
2024 · €1.7m+€94,530
Cash
€229,025
2024 · €1.5m-€1.3m
Balance sheet total
€4.6m
2024 · €4.4m+€136,369
Largest movements
Assets
- Intangible fixed assets +€1.4m
up €1.4m (+53.9%), from €2.6m to €4.0m
- Cash -€1.3m
down €1.3m (-84.9%), from €1.5m to €229,025
mainly Investment in fixed assets (net) (-€1.4m) and Trade debts (-€152,974)
Equity and liabilities
- Investment grants +€246,827
up €246,827 (+23.5%), from €1.0m to €1.3m
- Debts after one year +€181,627
up €181,627 (+7.9%), from €2.3m to €2.5m
of which Other amounts payable: +€207,435
- Trade debts -€152,974
down €152,974 (-50.4%), from €303,674 to €150,700
- Profit (loss) carried forward -€152,297
down €152,297 (-36.2%), from -€421,181 to -€573,478
Income statement
- Gross operating margin +€363,172
up €363,172 (+138%), from €264,023 to €627,195
- Purchases and services -€174,114
down €174,114 (-15.9%), from €1.1m to €923,807
- Staff costs +€153,427
up €153,427 (+24.5%), from €626,443 to €779,870
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.
Result 2024
-€358,924
Gross operating margin
+€363,172
Staff costs
-€153,427
Depreciation
-€4,180
Other operating charges
+€61
Financial income
+€2,286
Financial charges
-€114
Taxes
-€1,171
Result 2025
-€152,297
raises the resultlowers the result
Derived cash bridge
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.
From operations
-€301,331
Investment
-€1.4m
Financing
+€429,710
Cash 2024
€1.5m
From operations (derived)
-€301,331
Net result for the year
-€152,297
Depreciation
+€41,702
Receivables after one year
-€39,388
Receivables within one year
-€9,883
Smaller working-capital items
-€3,169
Trade debts
-€152,974
Tax, wage and social debts
+€14,679
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€429,710
Debts after one year
+€181,627
Current portion of long-term debt
+€1,256
Contributions, distributions and other
+€246,827
Cash 2025
€229,025
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,431,363 | €4,567,731 | +€136,369 | +3.1% |
| Formation expenses | 20 | €1,828 | €415 | -€1,412 | -77.3% |
| Fixed assets | 21/28 | €2,728,873 | €4,107,648 | +€1.4m | +50.5% |
| Intangible fixed assets | 21 | €2,608,514 | €4,015,449 | +€1.4m | +53.9% |
| Tangible fixed assets | 22/27 | €120,359 | €92,199 | -€28,160 | -23.4% |
| Plant, machinery and equipment | 23 | €119,398 | €91,852 | -€27,545 | -23.1% |
| Furniture and vehicles | 24 | €962 | €347 | -€615 | -64.0% |
| Current assets | 29/58 | €1,700,662 | €459,668 | -€1.2m | -73.0% |
| Amounts receivable after more than one year | 29 | €120,126 | €159,514 | +€39,388 | +32.8% |
| Trade receivables | 290 | €2,248 | €0 | -€2,248 | -100% |
| Other amounts receivable | 291 | €117,879 | €159,514 | +€41,635 | +35.3% |
| Amounts receivable within one year | 40/41 | €59,924 | €69,808 | +€9,883 | +16.5% |
| Trade receivables | 40 | €3,381 | €41,706 | +€38,325 | +1,134% |
| Other amounts receivable | 41 | €56,543 | €28,102 | -€28,442 | -50.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,519,710 | €229,025 | -€1.3m | -84.9% |
| Deferred charges and accrued income | 490/1 | €902 | €1,321 | +€419 | +46.5% |
| Total equity and liabilities | 10/49 | €4,431,363 | €4,567,731 | +€136,369 | +3.1% |
| Equity | 10/15 | €1,677,124 | €1,771,654 | +€94,530 | +5.6% |
| Contributions | 10/11 | €1,050,200 | €1,050,200 | = | 0.0% |
| Capital | 10 | €1,050,200 | €1,050,200 | = | 0.0% |
| Issued capital | 100 | €1,050,200 | €1,050,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€421,181 | -€573,478 | -€152,297 | -36.2% |
| Investment grants | 15 | €1,048,105 | €1,294,932 | +€246,827 | +23.5% |
| Amounts payable | 17/49 | €2,754,239 | €2,796,078 | +€41,839 | +1.5% |
| Amounts payable after more than one year | 17 | €2,313,344 | €2,494,971 | +€181,627 | +7.9% |
| Financial debts | 170/4 | €48,326 | €22,518 | -€25,808 | -53.4% |
| Other amounts payable | 178/9 | €2,265,018 | €2,472,453 | +€207,435 | +9.2% |
| Amounts payable within one year | 42/48 | €440,895 | €301,107 | -€139,788 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €24,552 | €25,808 | +€1,256 | +5.1% |
| Trade debts | 44 | €303,674 | €150,700 | -€152,974 | -50.4% |
| Suppliers | 440/4 | €303,674 | €150,700 | -€152,974 | -50.4% |
| Taxes, remuneration and social security | 45 | €109,919 | €124,599 | +€14,679 | +13.4% |
| Taxes | 450/3 | €943 | €6,726 | +€5,783 | +613% |
| Remuneration and social security | 454/9 | €108,977 | €117,873 | +€8,896 | +8.2% |
| Other amounts payable | 47/48 | €2,750 | €0 | -€2,750 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,097,921 | €923,807 | -€174,114 | -15.9% |
| Remuneration, social security and pensions | 62 | €626,443 | €779,870 | +€153,427 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,521 | €41,702 | +€4,180 | +11.1% |
| Other operating charges | 640/8 | €2,232 | €2,171 | -€61 | -2.7% |
| Gross operating margin | 9900 | €264,023 | €627,195 | +€363,172 | +138% |
| Operating profit (loss) | 9901 | -€402,173 | -€196,548 | +€205,625 | +51.1% |
| Financial income | 75/76B | €482 | €2,769 | +€2,286 | +474% |
| Recurring financial income | 75 | €482 | €2,769 | +€2,286 | +474% |
| Financial charges | 65/66B | €6,175 | €6,289 | +€114 | +1.8% |
| Recurring financial charges | 65 | €6,175 | €6,289 | +€114 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€407,866 | -€200,068 | +€207,798 | +50.9% |
| Income taxes | 67/77 | -€48,942 | -€47,771 | +€1,171 | +2.4% |
| Profit (loss) for the period | 9904 | -€358,924 | -€152,297 | +€206,626 | +57.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€358,924 | -€152,297 | +€206,626 | +57.6% |
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 16 October 2026 via checked.be.