CMA & CO: 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.
CMA & CO
Largest movements
- Receivables within one year -€81,922
down €81,922 (-57.7%), from €142,028 to €60,106
- Cash +€8,372
new in 2025: €8,372
mainly Receivables within one year (+€81,922) and Current portion of long-term debt (+€29,908)
- Tax, wage and social debts -€58,543
no longer reported in 2025 (was €58,543)
- Current portion of long-term debt +€29,908
new in 2025: €29,908
- Short-term financial debts -€26,629
no longer reported in 2025 (was €26,629)
- Profit (loss) carried forward -€17,406
down €17,406 (-34.0%), from €51,129 to €33,723
- Gross operating margin -€25,951
down €25,951, from €24,705 to -€1,246
- Financial charges -€3,734
down €3,734 (-95.5%), from €3,909 to €175
- Other operating charges +€3,352
up €3,352 (+165.9%), from €2,021 to €5,373
- Depreciation +€2,046
up €2,046 (+23.9%), from €8,566 to €10,612
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 | €156,761 | €84,091 | -€72,670 | -46.4% |
| Fixed assets | 21/28 | €14,733 | €15,613 | +€880 | +6.0% |
| Tangible fixed assets | 22/27 | €14,733 | €15,613 | +€880 | +6.0% |
| Plant, machinery and equipment | 23 | €938 | €693 | -€245 | -26.1% |
| Furniture and vehicles | 24 | €13,795 | €14,920 | +€1,125 | +8.2% |
| Current assets | 29/58 | €142,028 | €68,478 | -€73,550 | -51.8% |
| Amounts receivable within one year | 40/41 | €142,028 | €60,106 | -€81,922 | -57.7% |
| Trade receivables | 40 | €142,028 | €60,106 | -€81,922 | -57.7% |
| Cash at bank and in hand | 54/58 | - | €8,372 | +€8,372 | |
| Total equity and liabilities | 10/49 | €156,761 | €84,091 | -€72,670 | -46.4% |
| Equity | 10/15 | €71,589 | €54,183 | -€17,406 | -24.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,129 | €33,723 | -€17,406 | -34.0% |
| Amounts payable | 17/49 | €85,172 | €29,908 | -€55,264 | -64.9% |
| Amounts payable within one year | 42/48 | €85,172 | €29,908 | -€55,264 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | - | €29,908 | +€29,908 | |
| Financial debts | 43 | €26,629 | - | -€26,629 | |
| Credit institutions | 430/8 | €26,629 | - | -€26,629 | |
| Taxes, remuneration and social security | 45 | €58,543 | - | -€58,543 | |
| Taxes | 450/3 | €58,543 | - | -€58,543 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,566 | €10,612 | +€2,046 | +23.9% |
| Other operating charges | 640/8 | €2,021 | €5,373 | +€3,352 | +165.9% |
| Gross operating margin | 9900 | €24,705 | -€1,246 | -€25,951 | |
| Operating profit (loss) | 9901 | €14,118 | -€17,231 | -€31,349 | |
| Financial charges | 65/66B | €3,909 | €175 | -€3,734 | -95.5% |
| Recurring financial charges | 65 | €3,909 | €175 | -€3,734 | -95.5% |
| Profit (loss) for the period before taxes | 9903 | €10,209 | -€17,406 | -€27,615 | |
| Profit (loss) for the period | 9904 | €10,209 | -€17,406 | -€27,615 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,209 | -€17,406 | -€27,615 |
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 11 October 2026 via checked.be.