CMVD: 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.
CMVD
Largest movements
- Receivables after one year -€79,726
down €79,726 (-52.3%), from €152,557 to €72,831
- Deferred charges and accrued income +€21,783
up €21,783 (+45.2%), from €48,163 to €69,946
- Cash +€17,770
up €17,770 (+20.2%), from €87,915 to €105,685
mainly Receivables after one year (+€79,726) and Net result for the year (+€64,417)
- Reserves -€59,270
down €59,270 (-25.7%), from €230,710 to €171,440
- Other debts +€12,556
up €12,556 (+37.0%), from €33,968 to €46,524
- Tax, wage and social debts +€4,891
up €4,891 (+32.5%), from €15,027 to €19,918
of which Taxes: +€5,751
- Gross operating margin +€10,336
up €10,336 (+12.4%), from €83,473 to €93,809
- Taxes +€3,951
up €3,951 (+18.6%), from €21,207 to €25,158
- Financial income -€1,113
down €1,113 (-100.0%), from €1,113 to €0
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 | €292,343 | €251,697 | -€40,646 | -13.9% |
| Fixed assets | 21/28 | €3,708 | €3,235 | -€473 | -12.7% |
| Tangible fixed assets | 22/27 | €2,545 | €2,073 | -€473 | -18.6% |
| Furniture and vehicles | 24 | €1,296 | €1,317 | +€21 | +1.6% |
| Other tangible fixed assets | 26 | €1,250 | €756 | -€494 | -39.5% |
| Financial fixed assets | 28 | €1,163 | €1,163 | = | 0.0% |
| Current assets | 29/58 | €288,635 | €248,462 | -€40,173 | -13.9% |
| Amounts receivable after more than one year | 29 | €152,557 | €72,831 | -€79,726 | -52.3% |
| Other amounts receivable | 291 | €152,557 | €72,831 | -€79,726 | -52.3% |
| Cash at bank and in hand | 54/58 | €87,915 | €105,685 | +€17,770 | +20.2% |
| Deferred charges and accrued income | 490/1 | €48,163 | €69,946 | +€21,783 | +45.2% |
| Total equity and liabilities | 10/49 | €292,343 | €251,697 | -€40,646 | -13.9% |
| Equity | 10/15 | €243,198 | €183,945 | -€59,253 | -24.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €230,710 | €171,440 | -€59,270 | -25.7% |
| Distributable reserves | 133 | €230,710 | €171,440 | -€59,270 | -25.7% |
| Profit (loss) carried forward | 14 | €88 | €105 | +€17 | +19.7% |
| Amounts payable | 17/49 | €49,145 | €67,752 | +€18,607 | +37.9% |
| Amounts payable within one year | 42/48 | €49,145 | €67,752 | +€18,607 | +37.9% |
| Trade debts | 44 | €150 | €1,310 | +€1,160 | +771.9% |
| Suppliers | 440/4 | €150 | €1,310 | +€1,160 | +771.9% |
| Taxes, remuneration and social security | 45 | €15,027 | €19,918 | +€4,891 | +32.5% |
| Taxes | 450/3 | €14,167 | €19,918 | +€5,751 | +40.6% |
| Remuneration and social security | 454/9 | €860 | - | -€860 | |
| Other amounts payable | 47/48 | €33,968 | €46,524 | +€12,556 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,842 | €1,869 | +€26 | +1.4% |
| Other operating charges | 640/8 | €874 | €775 | -€99 | -11.4% |
| Gross operating margin | 9900 | €83,473 | €93,809 | +€10,336 | +12.4% |
| Operating profit (loss) | 9901 | €80,757 | €91,166 | +€10,409 | +12.9% |
| Financial income | 75/76B | €1,113 | €0 | -€1,113 | -100.0% |
| Recurring financial income | 75 | €1,113 | €0 | -€1,113 | -100.0% |
| Financial charges | 65/66B | €2,034 | €1,591 | -€443 | -21.8% |
| Recurring financial charges | 65 | €2,034 | €1,591 | -€443 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €79,835 | €89,575 | +€9,740 | +12.2% |
| Income taxes | 67/77 | €21,207 | €25,158 | +€3,951 | +18.6% |
| Profit (loss) for the period | 9904 | €58,628 | €64,417 | +€5,789 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,628 | €64,417 | +€5,789 | +9.9% |
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 30 September 2026 via checked.be.