CMSVG: 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.
CMSVG
Largest movements
- Cash -€87,538
down €87,538 (-86.0%), from €101,763 to €14,225
mainly Debts after one year (-€93,106) and Other debts (-€68,254)
- Tangible fixed assets -€44,464
down €44,464 (-31.5%), from €141,073 to €96,609
of which Land and buildings: -€29,256
- Receivables within one year +€15,704
up €15,704 (+27.6%), from €56,950 to €72,654
of which Other amounts receivable: +€19,895
- Stocks and contracts +€5,534
up €5,534 (+2.4%), from €233,921 to €239,455
- Debts after one year -€93,106
down €93,106 (-100.0%), from €93,106 to €0
- Other debts -€68,254
down €68,254 (-43.9%), from €155,396 to €87,142
- Profit (loss) carried forward +€56,755
up €56,755 (+27.7%), from -€204,793 to -€148,037
- Trade debts +€30,232
up €30,232 (+20.1%), from €150,145 to €180,377
- Tax, wage and social debts -€27,045
down €27,045 (-20.1%), from €134,631 to €107,585
of which Remuneration and social security: -€17,113
- Staff costs -€81,173
down €81,173 (-7.5%), from €1.1m to €994,221
- Gross operating margin -€40,504
down €40,504 (-3.7%), from €1.1m to €1.1m
- Financial income +€35,770
up €35,770 (+418.9%), from €8,540 to €44,309
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 | €535,564 | €428,139 | -€107,425 | -20.1% |
| Fixed assets | 21/28 | €141,723 | €97,259 | -€44,464 | -31.4% |
| Tangible fixed assets | 22/27 | €141,073 | €96,609 | -€44,464 | -31.5% |
| Land and buildings | 22 | €29,256 | €0 | -€29,256 | -100.0% |
| Plant, machinery and equipment | 23 | €33,256 | €24,920 | -€8,336 | -25.1% |
| Furniture and vehicles | 24 | €8,007 | €6,204 | -€1,803 | -22.5% |
| Other tangible fixed assets | 26 | €70,554 | €65,485 | -€5,069 | -7.2% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €393,842 | €330,880 | -€62,961 | -16.0% |
| Stocks and contracts in progress | 3 | €233,921 | €239,455 | +€5,534 | +2.4% |
| Stocks | 30/36 | €233,921 | €239,455 | +€5,534 | +2.4% |
| Amounts receivable within one year | 40/41 | €56,950 | €72,654 | +€15,704 | +27.6% |
| Trade receivables | 40 | €31,873 | €27,682 | -€4,191 | -13.1% |
| Other amounts receivable | 41 | €25,077 | €44,972 | +€19,895 | +79.3% |
| Cash at bank and in hand | 54/58 | €101,763 | €14,225 | -€87,538 | -86.0% |
| Deferred charges and accrued income | 490/1 | €1,208 | €4,546 | +€3,338 | +276.3% |
| Total equity and liabilities | 10/49 | €535,564 | €428,139 | -€107,425 | -20.1% |
| Equity | 10/15 | -€34,333 | €22,423 | +€56,755 | |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€204,793 | -€148,037 | +€56,755 | +27.7% |
| Amounts payable | 17/49 | €569,897 | €405,716 | -€164,181 | -28.8% |
| Amounts payable after more than one year | 17 | €93,106 | €0 | -€93,106 | -100.0% |
| Financial debts | 170/4 | €93,106 | €0 | -€93,106 | -100.0% |
| Amounts payable within one year | 42/48 | €469,991 | €405,716 | -€64,274 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €11,286 | €18,230 | +€6,944 | +61.5% |
| Financial debts | 43 | €18,533 | €12,382 | -€6,151 | -33.2% |
| Credit institutions | 430/8 | €18,533 | €12,382 | -€6,151 | -33.2% |
| Trade debts | 44 | €150,145 | €180,377 | +€30,232 | +20.1% |
| Suppliers | 440/4 | €150,145 | €180,377 | +€30,232 | +20.1% |
| Taxes, remuneration and social security | 45 | €134,631 | €107,585 | -€27,045 | -20.1% |
| Taxes | 450/3 | €27,679 | €17,747 | -€9,932 | -35.9% |
| Remuneration and social security | 454/9 | €106,952 | €89,839 | -€17,113 | -16.0% |
| Other amounts payable | 47/48 | €155,396 | €87,142 | -€68,254 | -43.9% |
| Accrued charges and deferred income | 492/3 | €6,801 | €0 | -€6,801 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,075,394 | €994,221 | -€81,173 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,577 | €23,567 | +€1,990 | +9.2% |
| Other operating charges | 640/8 | €8,125 | €9,507 | +€1,382 | +17.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,102,442 | €1,061,938 | -€40,504 | -3.7% |
| Operating profit (loss) | 9901 | -€2,655 | €34,642 | +€37,296 | |
| Financial income | 75/76B | €8,540 | €44,309 | +€35,770 | +418.9% |
| Recurring financial income | 75 | €8,540 | €44,309 | +€35,770 | +418.9% |
| Financial charges | 65/66B | €21,723 | €20,831 | -€892 | -4.1% |
| Recurring financial charges | 65 | €21,723 | €20,831 | -€892 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,838 | €58,119 | +€73,958 | |
| Income taxes | 67/77 | €1,356 | €977 | -€379 | -28.0% |
| Profit (loss) for the period | 9904 | -€17,194 | €57,143 | +€74,337 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,194 | €57,143 | +€74,337 |
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 8 October 2026 via checked.be.