CMG 2 ASSOCIATES: 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.
CMG 2 ASSOCIATES
Largest movements
- Receivables within one year -€33,486
no longer reported in 2025 (was €33,486)
of which Trade receivables: -€31,926
- Tangible fixed assets +€7,078
up €7,078 (+5.5%), from €128,268 to €135,345
of which Other tangible fixed assets: +€15,749
- Intangible fixed assets -€6,000
down €6,000 (-26.7%), from €22,500 to €16,500
- Cash +€5,483
up €5,483 (+120%), from €4,578 to €10,062
mainly Receivables within one year (+€33,486) and Depreciation (+€25,606)
- Trade debts -€34,367
down €34,367 (-85.4%), from €40,238 to €5,871
- Debts after one year +€17,900
up €17,900 (+53.5%), from €33,430 to €51,330
- Current portion of long-term debt -€7,478
no longer reported in 2025 (was €7,478)
- Profit (loss) carried forward +€6,044
up €6,044 (+303%), from €1,994 to €8,038
- Other debts -€5,015
down €5,015 (-10.7%), from €46,722 to €41,707
- Gross operating margin -€14,960
down €14,960 (-13.3%), from €112,875 to €97,915
- Staff costs +€1,687
up €1,687 (+2.7%), from €62,163 to €63,850
- Depreciation +€1,651
up €1,651 (+6.9%), from €23,956 to €25,606
- Financial charges +€1,637
up €1,637 (+65.0%), from €2,516 to €4,153
- Taxes +€1,317
up €1,317 (+189%), from €697 to €2,015
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 | €188,832 | €162,804 | -€26,028 | -13.8% |
| Fixed assets | 21/28 | €150,768 | €151,845 | +€1,078 | +0.7% |
| Intangible fixed assets | 21 | €22,500 | €16,500 | -€6,000 | -26.7% |
| Tangible fixed assets | 22/27 | €128,268 | €135,345 | +€7,078 | +5.5% |
| Furniture and vehicles | 24 | €34,948 | €26,277 | -€8,671 | -24.8% |
| Other tangible fixed assets | 26 | €93,319 | €109,068 | +€15,749 | +16.9% |
| Current assets | 29/58 | €38,064 | €10,958 | -€27,106 | -71.2% |
| Amounts receivable within one year | 40/41 | €33,486 | - | -€33,486 | |
| Trade receivables | 40 | €31,926 | - | -€31,926 | |
| Other amounts receivable | 41 | €1,560 | - | -€1,560 | |
| Cash at bank and in hand | 54/58 | €4,578 | €10,062 | +€5,483 | +120% |
| Deferred charges and accrued income | 490/1 | - | €897 | +€897 | |
| Total equity and liabilities | 10/49 | €188,832 | €162,804 | -€26,028 | -13.8% |
| Equity | 10/15 | €43,286 | €44,718 | +€1,432 | +3.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,292 | €31,680 | -€4,611 | -12.7% |
| Tax-exempt reserves | 132 | €36,292 | €31,680 | -€4,611 | -12.7% |
| Profit (loss) carried forward | 14 | €1,994 | €8,038 | +€6,044 | +303% |
| Provisions and deferred taxes | 16 | €9,073 | €7,920 | -€1,153 | -12.7% |
| Deferred taxes | 168 | €9,073 | €7,920 | -€1,153 | -12.7% |
| Amounts payable | 17/49 | €136,473 | €110,165 | -€26,307 | -19.3% |
| Amounts payable after more than one year | 17 | €33,430 | €51,330 | +€17,900 | +53.5% |
| Financial debts | 170/4 | €33,430 | €51,330 | +€17,900 | +53.5% |
| Amounts payable within one year | 42/48 | €103,043 | €58,835 | -€44,207 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €7,478 | - | -€7,478 | |
| Trade debts | 44 | €40,238 | €5,871 | -€34,367 | -85.4% |
| Suppliers | 440/4 | €40,238 | €5,871 | -€34,367 | -85.4% |
| Taxes, remuneration and social security | 45 | €8,604 | €11,258 | +€2,653 | +30.8% |
| Taxes | 450/3 | €1,452 | €5,248 | +€3,795 | +261% |
| Remuneration and social security | 454/9 | €7,152 | €6,010 | -€1,142 | -16.0% |
| Other amounts payable | 47/48 | €46,722 | €41,707 | -€5,015 | -10.7% |
| Remuneration, social security and pensions | 62 | €62,163 | €63,850 | +€1,687 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,956 | €25,606 | +€1,651 | +6.9% |
| Other operating charges | 640/8 | €2,319 | €2,012 | -€307 | -13.2% |
| Gross operating margin | 9900 | €112,875 | €97,915 | -€14,960 | -13.3% |
| Operating profit (loss) | 9901 | €24,438 | €6,447 | -€17,991 | -73.6% |
| Financial charges | 65/66B | €2,516 | €4,153 | +€1,637 | +65.0% |
| Recurring financial charges | 65 | €2,516 | €4,153 | +€1,637 | +65.0% |
| Profit (loss) for the period before taxes | 9903 | €21,922 | €2,294 | -€19,628 | -89.5% |
| Transfer from deferred taxes | 780 | €1,153 | €1,153 | = | 0.0% |
| Income taxes | 67/77 | €697 | €2,015 | +€1,317 | +189% |
| Profit (loss) for the period | 9904 | €22,377 | €1,432 | -€20,945 | -93.6% |
| Transfer from tax-exempt reserves | 789 | €4,611 | €4,611 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,989 | €6,044 | -€20,945 | -77.6% |
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 21 October 2026 via checked.be.