CMHC: 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
CMHC
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €8.9m-€7.6m
Equity
€67.6m
2024 · €66.3m+€1.3m
Cash
€365,635
2024 · €2.7m-€2.4m
Balance sheet total
€72.0m
2024 · €71.6m+€356,975
Largest movements
Assets
- Current investments +€3.2m
up €3.2m (+13.2%), from €24.0m to €27.2m
- Receivables within one year -€2.5m
down €2.5m (-54.6%), from €4.5m to €2.0m
of which Other amounts receivable: -€2.5m
- Cash -€2.4m
down €2.4m (-86.6%), from €2.7m to €365,635
mainly Current investments (-€3.2m) and Receivables after one year (-€1.5m)
- Receivables after one year +€1.5m
up €1.5m (+7.2%), from €20.3m to €21.8m
- Deferred charges and accrued income +€805,325
up €805,325 (+54.7%), from €1.5m to €2.3m
Equity and liabilities
- Profit (loss) carried forward +€1.3m
up €1.3m (+2.6%), from €51.7m to €53.0m
- Debts after one year -€1.2m
down €1.2m (-33.3%), from €3.6m to €2.4m
Income statement
- Financial income -€7.7m
down €7.7m (-73.7%), from €10.5m to €2.8m
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
€8.9m
Other operating charges
+€533
Other operating items
-€53,287
Financial income
-€7.7m
Financial charges
+€247,278
Taxes
-€86,530
Result 2025
€1.3m
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
+€1.7m
Investment
-€2.9m
Financing
-€1.2m
Cash 2024
€2.7m
From operations (derived)
+€1.7m
Net result for the year
+€1.3m
Receivables after one year
-€1.5m
Receivables within one year
+€2.5m
Deferred charges and accrued income
-€805,325
Trade debts
+€1,641
Tax, wage and social debts
+€253,793
Accrued charges and deferred income
-€20,685
Investment (derived)
-€2.9m
Investment in fixed assets (net)
+€275,520
Current investments
-€3.2m
Financing
-€1.2m
Debts after one year
-€1.2m
Contributions, distributions and other
+€1
Cash 2025
€365,635
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €71,598,736 | €71,955,711 | +€356,975 | +0.5% |
| Fixed assets | 21/28 | €18,550,229 | €18,274,709 | -€275,520 | -1.5% |
| Financial fixed assets | 28 | €18,550,229 | €18,274,709 | -€275,520 | -1.5% |
| Affiliated companies | 280/1 | €16,952,361 | €16,980,361 | +€28,000 | +0.2% |
| Participating interests | 280 | €16,952,361 | €16,980,361 | +€28,000 | +0.2% |
| Companies linked by participating interests | 282/3 | €303,520 | - | -€303,520 | |
| Participating interests | 282 | €303,520 | - | -€303,520 | |
| Other financial fixed assets | 284/8 | €1,294,348 | €1,294,348 | = | 0.0% |
| Shares | 284 | €1,294,348 | €1,294,348 | = | 0.0% |
| Current assets | 29/58 | €53,048,507 | €53,681,002 | +€632,495 | +1.2% |
| Amounts receivable after more than one year | 29 | €20,318,280 | €21,785,673 | +€1.5m | +7.2% |
| Other amounts receivable | 291 | €20,318,280 | €21,785,673 | +€1.5m | +7.2% |
| Amounts receivable within one year | 40/41 | €4,502,494 | €2,042,999 | -€2.5m | -54.6% |
| Trade receivables | 40 | €3,328 | €3,327 | -€1 | 0.0% |
| Other amounts receivable | 41 | €4,499,166 | €2,039,672 | -€2.5m | -54.7% |
| Current investments | 50/53 | €24,025,487 | €27,207,909 | +€3.2m | +13.2% |
| Other investments | 51/53 | €24,025,487 | €27,207,909 | +€3.2m | +13.2% |
| Cash at bank and in hand | 54/58 | €2,728,785 | €365,635 | -€2.4m | -86.6% |
| Deferred charges and accrued income | 490/1 | €1,473,461 | €2,278,786 | +€805,325 | +54.7% |
| Total equity and liabilities | 10/49 | €71,598,736 | €71,955,711 | +€356,975 | +0.5% |
| Equity | 10/15 | €66,309,112 | €67,631,338 | +€1.3m | +2.0% |
| Contributions | 10/11 | €12,588,181 | €12,588,181 | = | 0.0% |
| Reserves | 13 | €2,052,552 | €2,052,552 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,167 | €70,167 | = | 0.0% |
| Distributable reserves | 133 | €1,982,385 | €1,982,385 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,668,379 | €52,990,605 | +€1.3m | +2.6% |
| Amounts payable | 17/49 | €5,289,624 | €4,324,373 | -€965,251 | -18.2% |
| Amounts payable after more than one year | 17 | €3,600,000 | €2,400,000 | -€1.2m | -33.3% |
| Financial debts | 170/4 | €3,600,000 | €2,400,000 | -€1.2m | -33.3% |
| Credit institutions | 173 | €3,600,000 | €2,400,000 | -€1.2m | -33.3% |
| Amounts payable within one year | 42/48 | €1,597,488 | €1,852,922 | +€255,434 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €1,200,000 | €1,200,000 | = | 0.0% |
| Trade debts | 44 | €3,210 | €4,851 | +€1,641 | +51.1% |
| Suppliers | 440/4 | €3,210 | €4,851 | +€1,641 | +51.1% |
| Taxes, remuneration and social security | 45 | €319,535 | €573,328 | +€253,793 | +79.4% |
| Taxes | 450/3 | €319,535 | €573,328 | +€253,793 | +79.4% |
| Other amounts payable | 47/48 | €74,743 | €74,743 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €92,136 | €71,451 | -€20,685 | -22.5% |
| Operating income | 70/76A | €59,723 | €1,952 | -€57,771 | -96.7% |
| Other operating income | 74 | - | €1,952 | +€1,952 | |
| Non-recurring operating income | 76A | €59,723 | - | -€59,723 | |
| Operating charges | 60/66A | €20,371 | €15,354 | -€5,017 | -24.6% |
| Services and other goods | 61 | €18,467 | €13,983 | -€4,484 | -24.3% |
| Other operating charges | 640/8 | €1,904 | €1,371 | -€533 | -28.0% |
| Operating profit (loss) | 9901 | €39,352 | -€13,402 | -€52,754 | |
| Financial income | 75/76B | €10,480,419 | €2,757,095 | -€7.7m | -73.7% |
| Recurring financial income | 75 | €10,480,419 | €2,757,095 | -€7.7m | -73.7% |
| Income from financial fixed assets | 750 | €8,333,544 | €356,413 | -€8.0m | -95.7% |
| Income from current assets | 751 | €1,589,221 | €1,582,974 | -€6,247 | -0.4% |
| Other financial income | 752/9 | €557,654 | €817,708 | +€260,054 | +46.6% |
| Financial charges | 65/66B | €1,169,119 | €921,841 | -€247,278 | -21.2% |
| Recurring financial charges | 65 | €1,169,119 | €567,577 | -€601,542 | -51.5% |
| Debt charges | 650 | €637,128 | €423,931 | -€213,197 | -33.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €432,578 | -€71,578 | -€504,156 | |
| Other financial charges | 652/9 | €99,413 | €215,224 | +€115,811 | +116.5% |
| Non-recurring financial charges | 66B | - | €354,264 | +€354,264 | |
| Profit (loss) for the period before taxes | 9903 | €9,350,652 | €1,821,852 | -€7.5m | -80.5% |
| Income taxes | 67/77 | €413,097 | €499,627 | +€86,530 | +20.9% |
| Taxes | 670/3 | €446,369 | €499,627 | +€53,258 | +11.9% |
| Tax adjustments and reversals of tax provisions | 77 | €33,272 | - | -€33,272 | |
| Profit (loss) for the period | 9904 | €8,937,555 | €1,322,225 | -€7.6m | -85.2% |
| Transfer from tax-exempt reserves | 789 | €91,217 | - | -€91,217 | |
| Transfer to tax-exempt reserves | 689 | €91,217 | - | -€91,217 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,937,555 | €1,322,225 | -€7.6m | -85.2% |
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 3 October 2026 via checked.be.