CMD: 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.
What changed
CMD
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€28,294
2024 · €19,443+€8,851
Equity
€335,305
2024 · €307,011+€28,294
Cash
€41,370
2024 · €38,837+€2,534
Balance sheet total
€398,851
2024 · €366,703+€32,147
Largest movements
Assets
- Current investments +€29,550
up €29,550 (+15.6%), from €190,000 to €219,550
Equity and liabilities
- Reserves +€28,294
up €28,294 (+9.9%), from €285,011 to €313,305
- Other debts +€4,194
up €4,194 (+10.9%), from €38,305 to €42,499
Income statement
- Gross operating margin +€5,816
up €5,816 (+9.3%), from €62,802 to €68,618
- Purchases and services -€5,526
down €5,526 (-4.3%), from €128,662 to €123,136
- Financial income +€3,494
up €3,494 (+2508.7%), from €139 to €3,634
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
€19,443
Gross operating margin
+€5,816
Depreciation
-€257
Other operating charges
+€1,563
Financial income
+€3,494
Financial charges
-€1,141
Taxes
-€624
Result 2025
€28,294
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.
From operations
+€60,623
Investment
-€58,090
Financing
€0
Cash 2024
€38,837
From operations (derived)
+€60,623
Net result for the year
+€28,294
Depreciation
+€28,003
Receivables within one year
+€853
Deferred charges and accrued income
-€380
Trade debts
-€1,242
Tax, wage and social debts
+€901
Other debts
+€4,194
Investment (derived)
-€58,090
Investment in fixed assets (net)
-€28,540
Current investments
-€29,550
Cash 2025
€41,370
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €366,703 | €398,851 | +€32,147 | +8.8% |
| Fixed assets | 21/28 | €120,875 | €121,412 | +€536 | +0.4% |
| Tangible fixed assets | 22/27 | €119,942 | €120,478 | +€536 | +0.4% |
| Land and buildings | 22 | €119,942 | €96,076 | -€23,866 | -19.9% |
| Plant, machinery and equipment | 23 | - | €24,402 | +€24,402 | |
| Financial fixed assets | 28 | €934 | €934 | = | 0.0% |
| Current assets | 29/58 | €245,828 | €277,439 | +€31,611 | +12.9% |
| Amounts receivable within one year | 40/41 | €14,650 | €13,797 | -€853 | -5.8% |
| Trade receivables | 40 | €13,695 | €12,876 | -€819 | -6.0% |
| Other amounts receivable | 41 | €955 | €921 | -€34 | -3.6% |
| Current investments | 50/53 | €190,000 | €219,550 | +€29,550 | +15.6% |
| Cash at bank and in hand | 54/58 | €38,837 | €41,370 | +€2,534 | +6.5% |
| Deferred charges and accrued income | 490/1 | €2,342 | €2,722 | +€380 | +16.2% |
| Total equity and liabilities | 10/49 | €366,703 | €398,851 | +€32,147 | +8.8% |
| Equity | 10/15 | €307,011 | €335,305 | +€28,294 | +9.2% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €285,011 | €313,305 | +€28,294 | +9.9% |
| Distributable reserves | 133 | €285,011 | €313,305 | +€28,294 | +9.9% |
| Amounts payable | 17/49 | €59,692 | €63,545 | +€3,853 | +6.5% |
| Amounts payable after more than one year | 17 | €6,150 | €6,150 | = | 0.0% |
| Other amounts payable | 178/9 | €6,150 | €6,150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €53,467 | €57,320 | +€3,853 | +7.2% |
| Trade debts | 44 | €1,336 | €94 | -€1,242 | -93.0% |
| Suppliers | 440/4 | €1,336 | €94 | -€1,242 | -93.0% |
| Taxes, remuneration and social security | 45 | €13,826 | €14,727 | +€901 | +6.5% |
| Taxes | 450/3 | €13,826 | €14,727 | +€901 | +6.5% |
| Other amounts payable | 47/48 | €38,305 | €42,499 | +€4,194 | +10.9% |
| Accrued charges and deferred income | 492/3 | €75 | €75 | = | 0.0% |
| Turnover | 70 | €191,464 | €191,754 | +€290 | +0.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €128,662 | €123,136 | -€5,526 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,746 | €28,003 | +€257 | +0.9% |
| Other operating charges | 640/8 | €2,732 | €1,169 | -€1,563 | -57.2% |
| Gross operating margin | 9900 | €62,802 | €68,618 | +€5,816 | +9.3% |
| Operating profit (loss) | 9901 | €32,324 | €39,446 | +€7,122 | +22.0% |
| Financial income | 75/76B | €139 | €3,634 | +€3,494 | +2508.7% |
| Recurring financial income | 75 | €139 | €3,634 | +€3,494 | +2508.7% |
| Financial charges | 65/66B | €3,042 | €4,182 | +€1,141 | +37.5% |
| Recurring financial charges | 65 | €3,042 | €4,182 | +€1,141 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €29,422 | €38,897 | +€9,475 | +32.2% |
| Income taxes | 67/77 | €9,979 | €10,603 | +€624 | +6.3% |
| Profit (loss) for the period | 9904 | €19,443 | €28,294 | +€8,851 | +45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,443 | €28,294 | +€8,851 | +45.5% |
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 7 October 2026 via checked.be.