CMS16: 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.
CMS16
Largest movements
- Current investments -€198,455
down €198,455 (-60.1%), from €330,000 to €131,545
- Cash +€88,760
up €88,760 (+115%), from €77,358 to €166,119
mainly Current investments (+€198,455) and Net result for the year (+€137,799)
- Receivables within one year +€32,846
up €32,846 (+44.6%), from €73,593 to €106,439
of which Other amounts receivable: +€32,846
- Intangible fixed assets -€32,143
down €32,143 (-79.9%), from €40,214 to €8,071
- Deferred charges and accrued income -€6,033
down €6,033 (-84.3%), from €7,157 to €1,125
- Other debts -€102,698
down €102,698 (-42.7%), from €240,497 to €137,799
- Debts after one year -€14,783
down €14,783 (-79.9%), from €18,508 to €3,725
- Gross operating margin -€19,203
down €19,203 (-8.2%), from €233,049 to €213,846
- Taxes +€5,350
up €5,350 (+15.3%), from €35,015 to €40,365
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 | €535,719 | €418,596 | -€117,123 | -21.9% |
| Fixed assets | 21/28 | €47,610 | €13,369 | -€34,241 | -71.9% |
| Intangible fixed assets | 21 | €40,214 | €8,071 | -€32,143 | -79.9% |
| Tangible fixed assets | 22/27 | €7,396 | €5,298 | -€2,098 | -28.4% |
| Plant, machinery and equipment | 23 | €1,792 | €1,447 | -€345 | -19.2% |
| Furniture and vehicles | 24 | €5,604 | €3,851 | -€1,754 | -31.3% |
| Current assets | 29/58 | €488,109 | €405,227 | -€82,882 | -17.0% |
| Amounts receivable within one year | 40/41 | €73,593 | €106,439 | +€32,846 | +44.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €73,593 | €106,439 | +€32,846 | +44.6% |
| Current investments | 50/53 | €330,000 | €131,545 | -€198,455 | -60.1% |
| Cash at bank and in hand | 54/58 | €77,358 | €166,119 | +€88,760 | +115% |
| Deferred charges and accrued income | 490/1 | €7,157 | €1,125 | -€6,033 | -84.3% |
| Total equity and liabilities | 10/49 | €535,719 | €418,596 | -€117,123 | -21.9% |
| Equity | 10/15 | €259,100 | €259,100 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €240,500 | €240,500 | = | 0.0% |
| Distributable reserves | 133 | €240,500 | €240,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €276,619 | €159,496 | -€117,123 | -42.3% |
| Amounts payable after more than one year | 17 | €18,508 | €3,725 | -€14,783 | -79.9% |
| Financial debts | 170/4 | €18,508 | €3,725 | -€14,783 | -79.9% |
| Amounts payable within one year | 42/48 | €258,110 | €155,771 | -€102,340 | -39.6% |
| Current portion of amounts payable after more than one year | 42 | €14,599 | €14,783 | +€185 | +1.3% |
| Trade debts | 44 | €0 | €412 | +€412 | |
| Suppliers | 440/4 | €0 | €412 | +€412 | |
| Taxes, remuneration and social security | 45 | €3,015 | €2,777 | -€237 | -7.9% |
| Taxes | 450/3 | €3,015 | €27 | -€2,987 | -99.1% |
| Remuneration and social security | 454/9 | - | €2,750 | +€2,750 | |
| Other amounts payable | 47/48 | €240,497 | €137,799 | -€102,698 | -42.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,675 | €34,808 | +€133 | +0.4% |
| Other operating charges | 640/8 | €671 | €400 | -€271 | -40.4% |
| Non-recurring operating charges | 66A | €46,086 | €0 | -€46,086 | -100% |
| Gross operating margin | 9900 | €233,049 | €213,846 | -€19,203 | -8.2% |
| Operating profit (loss) | 9901 | €151,616 | €178,638 | +€27,022 | +17.8% |
| Financial income | 75/76B | €6,444 | €5,663 | -€781 | -12.1% |
| Recurring financial income | 75 | €6,444 | €5,663 | -€781 | -12.1% |
| Financial charges | 65/66B | €5,933 | €6,137 | +€204 | +3.4% |
| Recurring financial charges | 65 | €5,933 | €6,137 | +€204 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €152,127 | €178,164 | +€26,037 | +17.1% |
| Income taxes | 67/77 | €35,015 | €40,365 | +€5,350 | +15.3% |
| Profit (loss) for the period | 9904 | €117,112 | €137,799 | +€20,687 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €117,112 | €137,799 | +€20,687 | +17.7% |
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.