CMU: 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.
CMU
Largest movements
- Cash +€27,379
up €27,379 (+154%), from €17,764 to €45,144
mainly Net result for the year (+€32,003) and Receivables after one year (+€12,665)
- Receivables within one year +€14,339
up €14,339 (+297%), from €4,830 to €19,169
of which Trade receivables: +€12,834
- Receivables after one year -€12,665
down €12,665 (-66.4%), from €19,073 to €6,408
- Tangible fixed assets -€1,165
down €1,165 (-21.7%), from €5,376 to €4,210
of which Other tangible fixed assets: -€1,982
- Reserves +€32,003
up €32,003 (+275%), from €11,648 to €43,652
of which Distributable reserves: +€32,003
- Other debts -€11,509
down €11,509 (-100%), from €11,509 to €0
- Tax, wage and social debts +€7,099
up €7,099 (+800%), from €887 to €7,986
- Trade debts -€981
down €981 (-38.1%), from €2,575 to €1,594
- Gross operating margin +€50,010
up €50,010 (+4,149%), from €1,205 to €51,215
- Taxes +€14,197
up €14,197, from €0 to €14,197
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 | €47,848 | €75,086 | +€27,238 | +56.9% |
| Fixed assets | 21/28 | €6,181 | €4,366 | -€1,815 | -29.4% |
| Intangible fixed assets | 21 | €805 | €155 | -€650 | -80.7% |
| Tangible fixed assets | 22/27 | €5,376 | €4,210 | -€1,165 | -21.7% |
| Plant, machinery and equipment | 23 | - | €1,164 | +€1,164 | |
| Furniture and vehicles | 24 | €2,249 | €1,901 | -€348 | -15.5% |
| Other tangible fixed assets | 26 | €3,127 | €1,145 | -€1,982 | -63.4% |
| Current assets | 29/58 | €41,667 | €70,721 | +€29,053 | +69.7% |
| Amounts receivable after more than one year | 29 | €19,073 | €6,408 | -€12,665 | -66.4% |
| Other amounts receivable | 291 | €19,073 | €6,408 | -€12,665 | -66.4% |
| Amounts receivable within one year | 40/41 | €4,830 | €19,169 | +€14,339 | +297% |
| Trade receivables | 40 | €4,816 | €17,650 | +€12,834 | +266% |
| Other amounts receivable | 41 | €14 | €1,519 | +€1,506 | +11,022% |
| Cash at bank and in hand | 54/58 | €17,764 | €45,144 | +€27,379 | +154% |
| Total equity and liabilities | 10/49 | €47,848 | €75,086 | +€27,238 | +56.9% |
| Equity | 10/15 | €32,877 | €64,880 | +€32,003 | +97.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,648 | €43,652 | +€32,003 | +275% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,788 | €41,792 | +€32,003 | +327% |
| Profit (loss) carried forward | 14 | €15,028 | €15,028 | = | 0.0% |
| Amounts payable | 17/49 | €14,971 | €10,206 | -€4,765 | -31.8% |
| Amounts payable within one year | 42/48 | €14,971 | €9,580 | -€5,391 | -36.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,575 | €1,594 | -€981 | -38.1% |
| Suppliers | 440/4 | €2,575 | €1,594 | -€981 | -38.1% |
| Taxes, remuneration and social security | 45 | €887 | €7,986 | +€7,099 | +800% |
| Taxes | 450/3 | €887 | €7,986 | +€7,099 | +800% |
| Other amounts payable | 47/48 | €11,509 | €0 | -€11,509 | -100% |
| Accrued charges and deferred income | 492/3 | - | €626 | +€626 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,954 | €4,197 | +€242 | +6.1% |
| Other operating charges | 640/8 | €384 | €827 | +€443 | +115% |
| Gross operating margin | 9900 | €1,205 | €51,215 | +€50,010 | +4,149% |
| Operating profit (loss) | 9901 | -€3,134 | €46,191 | +€49,325 | |
| Financial income | 75/76B | €567 | €388 | -€179 | -31.6% |
| Recurring financial income | 75 | €567 | €388 | -€179 | -31.6% |
| Financial charges | 65/66B | €148 | €379 | +€231 | +156% |
| Recurring financial charges | 65 | €148 | €379 | +€231 | +156% |
| Profit (loss) for the period before taxes | 9903 | -€2,715 | €46,200 | +€48,915 | |
| Income taxes | 67/77 | €0 | €14,197 | +€14,197 | |
| Profit (loss) for the period | 9904 | -€2,715 | €32,003 | +€34,718 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,715 | €32,003 | +€34,718 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.