CMS Sandri-Simon: 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.
CMS Sandri-Simon
Largest movements
- Stocks and contracts -€109,361
no longer reported in 2025 (was €109,361)
- Receivables within one year +€30,310
up €30,310 (+33.0%), from €91,887 to €122,196
of which Trade receivables: +€33,125
- Cash +€20,942
up €20,942 (+27.4%), from €76,494 to €97,436
mainly Stocks and contracts (+€109,361) and Net result for the year (+€41,143)
- Tangible fixed assets -€9,991
down €9,991 (-3.6%), from €276,491 to €266,500
of which Plant, machinery and equipment: -€9,921
- Trade debts -€93,494
down €93,494 (-93.2%), from €100,316 to €6,822
- Profit (loss) carried forward +€41,143
up €41,143 (+77.8%), from €52,894 to €94,037
- Debts after one year -€29,176
down €29,176 (-8.0%), from €362,595 to €333,419
- Tax, wage and social debts +€12,964
up €12,964 (+520%), from €2,494 to €15,458
- Gross operating margin +€18,217
up €18,217 (+36.2%), from €50,262 to €68,479
- Taxes +€9,290
up €9,290 (+169%), from €5,494 to €14,784
- Depreciation -€6,118
down €6,118 (-62.8%), from €9,749 to €3,631
- Financial charges +€4,209
up €4,209 (+121%), from €3,475 to €7,684
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 | €555,301 | €487,666 | -€67,635 | -12.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €276,691 | €266,700 | -€9,991 | -3.6% |
| Tangible fixed assets | 22/27 | €276,491 | €266,500 | -€9,991 | -3.6% |
| Land and buildings | 22 | €263,540 | €263,540 | = | 0.0% |
| Plant, machinery and equipment | 23 | €10,964 | €1,042 | -€9,921 | -90.5% |
| Furniture and vehicles | 24 | €1,987 | €1,918 | -€69 | -3.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €278,610 | €220,966 | -€57,644 | -20.7% |
| Stocks and contracts in progress | 3 | €109,361 | - | -€109,361 | |
| Stocks | 30/36 | €109,361 | - | -€109,361 | |
| Amounts receivable within one year | 40/41 | €91,887 | €122,196 | +€30,310 | +33.0% |
| Trade receivables | 40 | €88,606 | €121,730 | +€33,125 | +37.4% |
| Other amounts receivable | 41 | €3,281 | €466 | -€2,815 | -85.8% |
| Cash at bank and in hand | 54/58 | €76,494 | €97,436 | +€20,942 | +27.4% |
| Deferred charges and accrued income | 490/1 | €868 | €1,334 | +€466 | +53.7% |
| Total equity and liabilities | 10/49 | €555,301 | €487,666 | -€67,635 | -12.2% |
| Equity | 10/15 | €59,344 | €100,487 | +€41,143 | +69.3% |
| Contributions | 10/11 | €6,450 | €6,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,894 | €94,037 | +€41,143 | +77.8% |
| Amounts payable | 17/49 | €495,957 | €387,179 | -€108,778 | -21.9% |
| Amounts payable after more than one year | 17 | €362,595 | €333,419 | -€29,176 | -8.0% |
| Financial debts | 170/4 | €362,595 | €333,419 | -€29,176 | -8.0% |
| Amounts payable within one year | 42/48 | €132,716 | €53,760 | -€78,956 | -59.5% |
| Current portion of amounts payable after more than one year | 42 | €28,905 | €29,176 | +€272 | +0.9% |
| Trade debts | 44 | €100,316 | €6,822 | -€93,494 | -93.2% |
| Suppliers | 440/4 | €100,316 | €6,822 | -€93,494 | -93.2% |
| Taxes, remuneration and social security | 45 | €2,494 | €15,458 | +€12,964 | +520% |
| Taxes | 450/3 | €2,494 | €15,458 | +€12,964 | +520% |
| Other amounts payable | 47/48 | €1,001 | €2,303 | +€1,303 | +130% |
| Accrued charges and deferred income | 492/3 | €646 | - | -€646 | |
| Remuneration, social security and pensions | 62 | €679 | €17 | -€662 | -97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,749 | €3,631 | -€6,118 | -62.8% |
| Other operating charges | 640/8 | €826 | €1,219 | +€394 | +47.7% |
| Non-recurring operating charges | 66A | €14,218 | - | -€14,218 | |
| Gross operating margin | 9900 | €50,262 | €68,479 | +€18,217 | +36.2% |
| Operating profit (loss) | 9901 | €24,790 | €63,611 | +€38,821 | +157% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,475 | €7,684 | +€4,209 | +121% |
| Recurring financial charges | 65 | €3,475 | €7,684 | +€4,209 | +121% |
| Profit (loss) for the period before taxes | 9903 | €21,315 | €55,927 | +€34,612 | +162% |
| Income taxes | 67/77 | €5,494 | €14,784 | +€9,290 | +169% |
| Profit (loss) for the period | 9904 | €15,821 | €41,143 | +€25,322 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €15,821 | €41,143 | +€25,322 | +160% |
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 13 October 2026 via checked.be.