CMZA: 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.
CMZA
Largest movements
- Receivables after one year +€8,009
up €8,009 (+14.3%), from €56,092 to €64,101
of which Other amounts receivable: +€5,000
- Cash +€6,458
up €6,458 (+7.2%), from €89,227 to €95,685
mainly Net result for the year (+€35,504) and Other debts (+€13,600)
- Deferred charges and accrued income -€3,444
no longer reported in 2025 (was €3,444)
- Tangible fixed assets -€2,958
down €2,958 (-16.5%), from €17,881 to €14,922
of which Plant, machinery and equipment: -€2,474
- Profit (loss) carried forward -€14,496
down €14,496 (-49.1%), from €29,546 to €15,050
- Other debts +€13,600
up €13,600 (+46.1%), from €29,510 to €43,110
- Reserves +€11,750
up €11,750 (+12.7%), from €92,370 to €104,120
of which Distributable reserves: +€11,750
- Trade debts -€3,463
down €3,463 (-7.5%), from €45,976 to €42,512
- Gross operating margin -€18,308
down €18,308 (-20.6%), from €88,829 to €70,521
- Depreciation +€1,597
up €1,597 (+16.5%), from €9,685 to €11,282
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 | €216,644 | €225,831 | +€9,187 | +4.2% |
| Fixed assets | 21/28 | €17,881 | €14,922 | -€2,958 | -16.5% |
| Tangible fixed assets | 22/27 | €17,881 | €14,922 | -€2,958 | -16.5% |
| Land and buildings | 22 | €3,358 | €3,095 | -€263 | -7.8% |
| Plant, machinery and equipment | 23 | €3,046 | €572 | -€2,474 | -81.2% |
| Furniture and vehicles | 24 | €11,477 | €11,256 | -€221 | -1.9% |
| Current assets | 29/58 | €198,763 | €210,909 | +€12,145 | +6.1% |
| Amounts receivable after more than one year | 29 | €56,092 | €64,101 | +€8,009 | +14.3% |
| Trade receivables | 290 | €56,092 | €59,101 | +€3,009 | +5.4% |
| Other amounts receivable | 291 | - | €5,000 | +€5,000 | |
| Current investments | 50/53 | €50,000 | €51,123 | +€1,123 | +2.2% |
| Cash at bank and in hand | 54/58 | €89,227 | €95,685 | +€6,458 | +7.2% |
| Deferred charges and accrued income | 490/1 | €3,444 | - | -€3,444 | |
| Total equity and liabilities | 10/49 | €216,644 | €225,831 | +€9,187 | +4.2% |
| Equity | 10/15 | €140,508 | €137,762 | -€2,746 | -2.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €92,370 | €104,120 | +€11,750 | +12.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €90,511 | €102,261 | +€11,750 | +13.0% |
| Profit (loss) carried forward | 14 | €29,546 | €15,050 | -€14,496 | -49.1% |
| Amounts payable | 17/49 | €76,136 | €88,069 | +€11,933 | +15.7% |
| Amounts payable within one year | 42/48 | €76,136 | €88,069 | +€11,933 | +15.7% |
| Trade debts | 44 | €45,976 | €42,512 | -€3,463 | -7.5% |
| Suppliers | 440/4 | €45,976 | €42,512 | -€3,463 | -7.5% |
| Taxes, remuneration and social security | 45 | €650 | €2,446 | +€1,796 | +276.3% |
| Taxes | 450/3 | €650 | €2,101 | +€1,450 | +223.1% |
| Remuneration and social security | 454/9 | - | €346 | +€346 | |
| Other amounts payable | 47/48 | €29,510 | €43,110 | +€13,600 | +46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,685 | €11,282 | +€1,597 | +16.5% |
| Other operating charges | 640/8 | €991 | €738 | -€253 | -25.5% |
| Gross operating margin | 9900 | €88,829 | €70,521 | -€18,308 | -20.6% |
| Operating profit (loss) | 9901 | €78,153 | €58,501 | -€19,652 | -25.1% |
| Financial income | 75/76B | €1,048 | €1,697 | +€649 | +61.9% |
| Recurring financial income | 75 | €1,048 | €1,697 | +€649 | +61.9% |
| Financial charges | 65/66B | €63 | €213 | +€150 | +239.2% |
| Recurring financial charges | 65 | €63 | €213 | +€150 | +239.2% |
| Profit (loss) for the period before taxes | 9903 | €79,138 | €59,985 | -€19,153 | -24.2% |
| Income taxes | 67/77 | €23,607 | €24,481 | +€874 | +3.7% |
| Profit (loss) for the period | 9904 | €55,531 | €35,504 | -€20,027 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,531 | €35,504 | -€20,027 | -36.1% |
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 11 October 2026 via checked.be.