CPM PROJECT: 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.
CPM PROJECT
Largest movements
- Receivables within one year -€330,852
down €330,852 (-49.4%), from €669,312 to €338,459
of which Trade receivables: -€342,691
- Stocks and contracts +€51,134
up €51,134 (+80.3%), from €63,664 to €114,797
- Profit (loss) carried forward -€245,022
down €245,022, from €1,107 to -€243,915
- Short-term financial debts -€70,000
down €70,000 (-100.0%), from €70,000 to €0
- Other debts +€68,543
up €68,543 (+29.1%), from €235,312 to €303,855
- Trade debts -€40,079
down €40,079 (-9.7%), from €411,745 to €371,666
- Write-downs +€278,859
up €278,859 (+7730.9%), from €3,607 to €282,466
- Gross operating margin +€90,529
up €90,529 (+1564.9%), from €5,785 to €96,313
- Other operating charges +€57,261
up €57,261 (+5918.4%), from €968 to €58,229
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 | €739,329 | €453,635 | -€285,694 | -38.6% |
| Fixed assets | 21/28 | €5,911 | €0 | -€5,911 | -100.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €5,911 | €0 | -€5,911 | -100.0% |
| Current assets | 29/58 | €733,418 | €453,635 | -€279,782 | -38.1% |
| Stocks and contracts in progress | 3 | €63,664 | €114,797 | +€51,134 | +80.3% |
| Stocks | 30/36 | €63,664 | €114,797 | +€51,134 | +80.3% |
| Amounts receivable within one year | 40/41 | €669,312 | €338,459 | -€330,852 | -49.4% |
| Trade receivables | 40 | €664,354 | €321,663 | -€342,691 | -51.6% |
| Other amounts receivable | 41 | €4,957 | €16,796 | +€11,839 | +238.8% |
| Cash at bank and in hand | 54/58 | €442 | €379 | -€64 | -14.4% |
| Total equity and liabilities | 10/49 | €739,329 | €453,635 | -€285,694 | -38.6% |
| Equity | 10/15 | €21,567 | -€223,455 | -€245,022 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,107 | -€243,915 | -€245,022 | |
| Amounts payable | 17/49 | €717,762 | €677,090 | -€40,672 | -5.7% |
| Amounts payable within one year | 42/48 | €717,762 | €677,090 | -€40,672 | -5.7% |
| Financial debts | 43 | €70,000 | €0 | -€70,000 | -100.0% |
| Credit institutions | 430/8 | €70,000 | €0 | -€70,000 | -100.0% |
| Trade debts | 44 | €411,745 | €371,666 | -€40,079 | -9.7% |
| Suppliers | 440/4 | €411,745 | €371,666 | -€40,079 | -9.7% |
| Taxes, remuneration and social security | 45 | €705 | €1,569 | +€864 | +122.6% |
| Taxes | 450/3 | €705 | €1,569 | +€864 | +122.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €235,312 | €303,855 | +€68,543 | +29.1% |
| Non-recurring operating income | 76A | - | €17,329 | +€17,329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €0 | -€213 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,607 | €282,466 | +€278,859 | +7730.9% |
| Other operating charges | 640/8 | €968 | €58,229 | +€57,261 | +5918.4% |
| Gross operating margin | 9900 | €5,785 | €96,313 | +€90,529 | +1564.9% |
| Operating profit (loss) | 9901 | €997 | -€244,382 | -€245,379 | |
| Financial income | 75/76B | €38 | €0 | -€38 | -100.0% |
| Recurring financial income | 75 | €38 | €0 | -€38 | -100.0% |
| Financial charges | 65/66B | €323 | €640 | +€317 | +97.9% |
| Recurring financial charges | 65 | €323 | €640 | +€317 | +97.9% |
| Profit (loss) for the period before taxes | 9903 | €712 | -€245,022 | -€245,734 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €712 | -€245,022 | -€245,734 | |
| Profit (loss) for the period to be appropriated | 9905 | €712 | -€245,022 | -€245,734 |
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 7 October 2026 via checked.be.