CMD PARTNERS: 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.
CMD PARTNERS
Largest movements
- Receivables within one year +€20,808
up €20,808 (+24.8%), from €83,753 to €104,561
of which Trade receivables: +€20,808
- Cash -€16,412
down €16,412 (-30.7%), from €53,517 to €37,105
mainly Debts after one year (-€21,875) and Receivables within one year (-€20,808)
- Tangible fixed assets -€9,592
down €9,592 (-3.6%), from €268,272 to €258,680
of which Land and buildings: -€11,106
- Profit (loss) carried forward +€23,748
up €23,748 (+49.5%), from €47,981 to €71,729
- Debts after one year -€21,875
down €21,875 (-11.1%), from €197,034 to €175,159
- Trade debts -€8,068
down €8,068 (-10.0%), from €80,859 to €72,791
- Staff costs -€26,634
down €26,634 (-13.9%), from €191,561 to €164,927
- Taxes +€6,485
up €6,485 (+190.7%), from €3,400 to €9,885
- Write-downs -€3,663
no longer reported in 2025 (was €3,663)
- Other operating charges +€2,795
up €2,795 (+20.4%), from €13,687 to €16,482
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 | €411,107 | €407,404 | -€3,703 | -0.9% |
| Fixed assets | 21/28 | €273,593 | €264,228 | -€9,365 | -3.4% |
| Tangible fixed assets | 22/27 | €268,272 | €258,680 | -€9,592 | -3.6% |
| Land and buildings | 22 | €267,516 | €256,410 | -€11,106 | -4.2% |
| Furniture and vehicles | 24 | €756 | €2,270 | +€1,514 | +200.3% |
| Financial fixed assets | 28 | €5,321 | €5,548 | +€227 | +4.3% |
| Current assets | 29/58 | €137,514 | €143,176 | +€5,662 | +4.1% |
| Amounts receivable within one year | 40/41 | €83,753 | €104,561 | +€20,808 | +24.8% |
| Trade receivables | 40 | €83,483 | €104,291 | +€20,808 | +24.9% |
| Other amounts receivable | 41 | €270 | €270 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,517 | €37,105 | -€16,412 | -30.7% |
| Deferred charges and accrued income | 490/1 | €244 | €1,510 | +€1,266 | +518.9% |
| Total equity and liabilities | 10/49 | €411,107 | €407,404 | -€3,703 | -0.9% |
| Equity | 10/15 | €66,981 | €90,729 | +€23,748 | +35.5% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,981 | €71,729 | +€23,748 | +49.5% |
| Amounts payable | 17/49 | €344,126 | €316,675 | -€27,451 | -8.0% |
| Amounts payable after more than one year | 17 | €197,034 | €175,159 | -€21,875 | -11.1% |
| Financial debts | 170/4 | €197,034 | €175,159 | -€21,875 | -11.1% |
| Amounts payable within one year | 42/48 | €147,092 | €141,516 | -€5,576 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €21,361 | €21,875 | +€514 | +2.4% |
| Trade debts | 44 | €80,859 | €72,791 | -€8,068 | -10.0% |
| Suppliers | 440/4 | €80,859 | €72,791 | -€8,068 | -10.0% |
| Taxes, remuneration and social security | 45 | €37,578 | €39,682 | +€2,104 | +5.6% |
| Taxes | 450/3 | €22,244 | €26,292 | +€4,048 | +18.2% |
| Remuneration and social security | 454/9 | €15,334 | €13,390 | -€1,944 | -12.7% |
| Other amounts payable | 47/48 | €7,294 | €7,168 | -€126 | -1.7% |
| Remuneration, social security and pensions | 62 | €191,561 | €164,927 | -€26,634 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,629 | €12,550 | -€79 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,663 | - | -€3,663 | |
| Other operating charges | 640/8 | €13,687 | €16,482 | +€2,795 | +20.4% |
| Gross operating margin | 9900 | €234,467 | €233,649 | -€818 | -0.3% |
| Operating profit (loss) | 9901 | €12,927 | €39,690 | +€26,763 | +207.0% |
| Financial income | 75/76B | €65 | €55 | -€10 | -15.4% |
| Recurring financial income | 75 | €65 | €55 | -€10 | -15.4% |
| Financial charges | 65/66B | €5,785 | €5,517 | -€268 | -4.6% |
| Recurring financial charges | 65 | €5,785 | €5,517 | -€268 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €7,207 | €34,228 | +€27,021 | +374.9% |
| Income taxes | 67/77 | €3,400 | €9,885 | +€6,485 | +190.7% |
| Profit (loss) for the period | 9904 | €3,807 | €24,343 | +€20,536 | +539.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,807 | €24,343 | +€20,536 | +539.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.