CMAH: 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.
CMAH
Largest movements
- Cash +€45,511
up €45,511 (+89.1%), from €51,061 to €96,572
mainly Net result for the year (+€40,506) and Tax, wage and social debts (+€3,597)
- Deferred charges and accrued income -€1,196
down €1,196 (-50.7%), from €2,358 to €1,162
- Reserves +€40,500
up €40,500 (+131.5%), from €30,800 to €71,300
- Tax, wage and social debts +€3,597
up €3,597 (+24.5%), from €14,664 to €18,261
- Gross operating margin +€11,268
up €11,268 (+24.9%), from €45,277 to €56,545
- Taxes +€3,597
up €3,597 (+29.7%), from €12,114 to €15,711
- Depreciation -€1,951
down €1,951 (-88.5%), from €2,204 to €254
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 | €54,173 | €98,234 | +€44,061 | +81.3% |
| Fixed assets | 21/28 | €754 | €500 | -€254 | -33.7% |
| Tangible fixed assets | 22/27 | €254 | - | -€254 | |
| Furniture and vehicles | 24 | €254 | - | -€254 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €53,419 | €97,734 | +€44,315 | +83.0% |
| Cash at bank and in hand | 54/58 | €51,061 | €96,572 | +€45,511 | +89.1% |
| Deferred charges and accrued income | 490/1 | €2,358 | €1,162 | -€1,196 | -50.7% |
| Total equity and liabilities | 10/49 | €54,173 | €98,234 | +€44,061 | +81.3% |
| Equity | 10/15 | €33,900 | €74,406 | +€40,506 | +119.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,800 | €71,300 | +€40,500 | +131.5% |
| Distributable reserves | 133 | €30,800 | €71,300 | +€40,500 | +131.5% |
| Profit (loss) carried forward | 14 | €100 | €106 | +€6 | +5.8% |
| Amounts payable | 17/49 | €20,272 | €23,828 | +€3,556 | +17.5% |
| Amounts payable within one year | 42/48 | €20,272 | €23,828 | +€3,556 | +17.5% |
| Trade debts | 44 | €204 | €1,042 | +€838 | +410.3% |
| Suppliers | 440/4 | €204 | €1,042 | +€838 | +410.3% |
| Taxes, remuneration and social security | 45 | €14,664 | €18,261 | +€3,597 | +24.5% |
| Taxes | 450/3 | €14,664 | €18,261 | +€3,597 | +24.5% |
| Other amounts payable | 47/48 | €5,404 | €4,525 | -€879 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,204 | €254 | -€1,951 | -88.5% |
| Gross operating margin | 9900 | €45,277 | €56,545 | +€11,268 | +24.9% |
| Operating profit (loss) | 9901 | €43,073 | €56,291 | +€13,218 | +30.7% |
| Financial charges | 65/66B | €59 | €75 | +€16 | +27.7% |
| Recurring financial charges | 65 | €59 | €75 | +€16 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €43,014 | €56,216 | +€13,202 | +30.7% |
| Income taxes | 67/77 | €12,114 | €15,711 | +€3,597 | +29.7% |
| Profit (loss) for the period | 9904 | €30,900 | €40,506 | +€9,606 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,900 | €40,506 | +€9,606 | +31.1% |
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 8 October 2026 via checked.be.