CPM: 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.
CPM
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+4,515%), from €37,323 to €1.7m
of which Land and buildings: +€1.7m
- Receivables within one year +€343,613
up €343,613 (+853%), from €40,296 to €383,909
of which Trade receivables: +€337,108
- Cash +€149,411
up €149,411 (+5,967%), from €2,504 to €151,915
mainly Debts after one year (+€1.8m) and Accrued charges and deferred income (+€198,581)
- Deferred charges and accrued income -€47,517
down €47,517 (-89.5%), from €53,076 to €5,560
- Debts after one year +€1.8m
up €1.8m (+14,775%), from €12,202 to €1.8m
- Accrued charges and deferred income +€198,581
up €198,581 (+201,708%), from €98 to €198,680
- Current portion of long-term debt +€78,591
up €78,591 (+1,044%), from €7,529 to €86,120
- Reserves +€29,000
up €29,000 (+74.6%), from €38,860 to €67,860
- Gross operating margin +€44,494
up €44,494 (+164%), from €27,097 to €71,590
- Taxes +€11,148
up €11,148 (+1,110%), from €1,005 to €12,153
- Depreciation +€7,376
up €7,376 (+48.1%), from €15,324 to €22,700
- Other operating charges +€1,640
up €1,640 (+89.8%), from €1,827 to €3,467
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 | €133,199 | €2,264,006 | +€2.1m | +1,600% |
| Fixed assets | 21/28 | €37,323 | €1,722,623 | +€1.7m | +4,515% |
| Tangible fixed assets | 22/27 | €37,323 | €1,722,623 | +€1.7m | +4,515% |
| Land and buildings | 22 | - | €1,701,556 | +€1.7m | |
| Plant, machinery and equipment | 23 | €230 | €155 | -€74 | -32.4% |
| Furniture and vehicles | 24 | €30,386 | €15,750 | -€14,636 | -48.2% |
| Other tangible fixed assets | 26 | €6,708 | €5,162 | -€1,546 | -23.0% |
| Current assets | 29/58 | €95,876 | €541,383 | +€445,508 | +465% |
| Amounts receivable within one year | 40/41 | €40,296 | €383,909 | +€343,613 | +853% |
| Trade receivables | 40 | €9,433 | €346,541 | +€337,108 | +3,574% |
| Other amounts receivable | 41 | €30,863 | €37,368 | +€6,505 | +21.1% |
| Cash at bank and in hand | 54/58 | €2,504 | €151,915 | +€149,411 | +5,967% |
| Deferred charges and accrued income | 490/1 | €53,076 | €5,560 | -€47,517 | -89.5% |
| Total equity and liabilities | 10/49 | €133,199 | €2,264,006 | +€2.1m | +1,600% |
| Equity | 10/15 | €63,397 | €92,578 | +€29,181 | +46.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,860 | €67,860 | +€29,000 | +74.6% |
| Distributable reserves | 133 | €38,860 | €67,860 | +€29,000 | +74.6% |
| Profit (loss) carried forward | 14 | €5,937 | €6,118 | +€181 | +3.0% |
| Amounts payable | 17/49 | €69,802 | €2,171,428 | +€2.1m | +3,011% |
| Amounts payable after more than one year | 17 | €12,202 | €1,815,082 | +€1.8m | +14,775% |
| Financial debts | 170/4 | €12,202 | €1,815,082 | +€1.8m | +14,775% |
| Amounts payable within one year | 42/48 | €57,501 | €157,666 | +€100,165 | +174% |
| Current portion of amounts payable after more than one year | 42 | €7,529 | €86,120 | +€78,591 | +1,044% |
| Financial debts | 43 | €18,200 | €25,730 | +€7,529 | +41.4% |
| Other loans | 439 | €18,200 | €25,730 | +€7,529 | +41.4% |
| Trade debts | 44 | €64 | €1,742 | +€1,678 | +2,631% |
| Suppliers | 440/4 | €64 | €1,742 | +€1,678 | +2,631% |
| Taxes, remuneration and social security | 45 | €6,083 | €17,109 | +€11,026 | +181% |
| Taxes | 450/3 | €6,083 | €14,279 | +€8,196 | +135% |
| Remuneration and social security | 454/9 | €0 | €2,830 | +€2,830 | |
| Other amounts payable | 47/48 | €25,625 | €26,966 | +€1,341 | +5.2% |
| Accrued charges and deferred income | 492/3 | €98 | €198,680 | +€198,581 | +201,708% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,324 | €22,700 | +€7,376 | +48.1% |
| Other operating charges | 640/8 | €1,827 | €3,467 | +€1,640 | +89.8% |
| Gross operating margin | 9900 | €27,097 | €71,590 | +€44,494 | +164% |
| Operating profit (loss) | 9901 | €9,946 | €45,423 | +€35,477 | +357% |
| Financial charges | 65/66B | €3,944 | €4,089 | +€146 | +3.7% |
| Recurring financial charges | 65 | €3,944 | €4,089 | +€146 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €6,002 | €41,334 | +€35,332 | +589% |
| Income taxes | 67/77 | €1,005 | €12,153 | +€11,148 | +1,110% |
| Profit (loss) for the period | 9904 | €4,997 | €29,181 | +€24,184 | +484% |
| Profit (loss) for the period to be appropriated | 9905 | €4,997 | €29,181 | +€24,184 | +484% |
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 28 October 2026 via checked.be.