CMA Montage: 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 Montage
Largest movements
- Tangible fixed assets -€9,931
down €9,931 (-31.3%), from €31,693 to €21,762
of which Leasing and similar rights: -€5,917
- Receivables within one year +€1,305
up €1,305 (+7.8%), from €16,804 to €18,108
of which Trade receivables: +€8,941
- Deferred charges and accrued income +€528
up €528 (+22.7%), from €2,328 to €2,856
- Debts after one year -€5,955
down €5,955 (-25.4%), from €23,454 to €17,499
- Profit (loss) carried forward +€5,774
up €5,774 (+44.7%), from -€12,915 to -€7,141
- Current portion of long-term debt -€3,311
down €3,311 (-35.7%), from €9,266 to €5,955
- Trade debts -€3,076
down €3,076 (-61.7%), from €4,987 to €1,911
- Tax, wage and social debts -€825
down €825 (-21.8%), from €3,788 to €2,964
- Gross operating margin +€7,925
up €7,925 (+53.6%), from €14,787 to €22,712
- Depreciation +€3,023
up €3,023 (+43.8%), from €6,908 to €9,931
- Taxes +€1,290
up €1,290 (+75.4%), from €1,711 to €3,001
- Other operating charges +€667
up €667 (+47.1%), from €1,417 to €2,084
- Financial charges +€613
up €613 (+36.8%), from €1,669 to €2,282
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,743 | €43,602 | -€8,140 | -15.7% |
| Fixed assets | 21/28 | €31,693 | €21,762 | -€9,931 | -31.3% |
| Tangible fixed assets | 22/27 | €31,693 | €21,762 | -€9,931 | -31.3% |
| Furniture and vehicles | 24 | €4,014 | - | -€4,014 | |
| Leasing and similar rights | 25 | €27,679 | €21,762 | -€5,917 | -21.4% |
| Current assets | 29/58 | €20,050 | €21,841 | +€1,791 | +8.9% |
| Amounts receivable within one year | 40/41 | €16,804 | €18,108 | +€1,305 | +7.8% |
| Trade receivables | 40 | €6,299 | €15,240 | +€8,941 | +142% |
| Other amounts receivable | 41 | €10,505 | €2,868 | -€7,637 | -72.7% |
| Cash at bank and in hand | 54/58 | €918 | €876 | -€42 | -4.6% |
| Deferred charges and accrued income | 490/1 | €2,328 | €2,856 | +€528 | +22.7% |
| Total equity and liabilities | 10/49 | €51,743 | €43,602 | -€8,140 | -15.7% |
| Equity | 10/15 | €6,000 | €11,773 | +€5,774 | +96.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €314 | €314 | = | 0.0% |
| Non-distributable reserves | 130/1 | €314 | €314 | = | 0.0% |
| Reserves not available under the articles | 1311 | €314 | €314 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,915 | -€7,141 | +€5,774 | +44.7% |
| Amounts payable | 17/49 | €45,743 | €31,829 | -€13,914 | -30.4% |
| Amounts payable after more than one year | 17 | €23,454 | €17,499 | -€5,955 | -25.4% |
| Financial debts | 170/4 | €23,454 | €17,499 | -€5,955 | -25.4% |
| Amounts payable within one year | 42/48 | €22,289 | €14,330 | -€7,960 | -35.7% |
| Current portion of amounts payable after more than one year | 42 | €9,266 | €5,955 | -€3,311 | -35.7% |
| Trade debts | 44 | €4,987 | €1,911 | -€3,076 | -61.7% |
| Suppliers | 440/4 | €4,987 | €1,911 | -€3,076 | -61.7% |
| Advances received on contracts in progress | 46 | €1,419 | €959 | -€460 | -32.4% |
| Taxes, remuneration and social security | 45 | €3,788 | €2,964 | -€825 | -21.8% |
| Taxes | 450/3 | €3,788 | €2,964 | -€825 | -21.8% |
| Other amounts payable | 47/48 | €2,828 | €2,541 | -€288 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,908 | €9,931 | +€3,023 | +43.8% |
| Other operating charges | 640/8 | €1,417 | €2,084 | +€667 | +47.1% |
| Gross operating margin | 9900 | €14,787 | €22,712 | +€7,925 | +53.6% |
| Operating profit (loss) | 9901 | €6,462 | €10,697 | +€4,235 | +65.5% |
| Financial income | 75/76B | €523 | €360 | -€163 | -31.2% |
| Recurring financial income | 75 | €523 | €360 | -€163 | -31.2% |
| Financial charges | 65/66B | €1,669 | €2,282 | +€613 | +36.8% |
| Recurring financial charges | 65 | €1,669 | €2,282 | +€613 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €5,316 | €8,775 | +€3,458 | +65.1% |
| Income taxes | 67/77 | €1,711 | €3,001 | +€1,290 | +75.4% |
| Profit (loss) for the period | 9904 | €3,605 | €5,774 | +€2,169 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,605 | €5,774 | +€2,169 | +60.2% |
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 31 October 2026 via checked.be.