CSM CIAO ITALIA: what changed
CSM CIAO ITALIA
Largest movements
- Cash +€27,090
up €27,090 (+91.2%), from €29,710 to €56,800
mainly Net result for the year (+€27,846) and Depreciation (+€17,061)
- Receivables within one year +€8,854
up €8,854 (+101%), from €8,726 to €17,579
of which Other amounts receivable: +€8,854
- Tangible fixed assets +€4,319
up €4,319 (+10.8%), from €39,827 to €44,146
of which Furniture and vehicles: +€9,004
- Reserves +€27,846
up €27,846 (+108%), from €25,872 to €53,718
- Trade debts +€4,876
up €4,876 (+46.0%), from €10,595 to €15,471
- Debts after one year +€4,728
up €4,728 (+111%), from €4,250 to €8,978
of which Financial debts: +€8,978
- Tax, wage and social debts +€3,650
up €3,650 (+25.5%), from €14,297 to €17,947
of which Taxes: +€4,372
- Other debts -€3,000
down €3,000 (-100%), from €3,000 to €0
- Gross operating margin +€28,812
up €28,812 (+28.9%), from €99,826 to €128,637
- Staff costs +€10,450
up €10,450 (+20.3%), from €51,427 to €61,878
- Taxes +€5,003
up €5,003 (+72.9%), from €6,866 to €11,869
- Depreciation +€3,720
up €3,720 (+27.9%), from €13,342 to €17,061
- Other operating charges +€2,839
up €2,839 (+68.9%), from €4,118 to €6,958
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €92,718 | €133,051 | +€40,333 | +43.5% |
| Fixed assets | 21/28 | €49,090 | €53,408 | +€4,319 | +8.8% |
| Tangible fixed assets | 22/27 | €39,827 | €44,146 | +€4,319 | +10.8% |
| Plant, machinery and equipment | 23 | €9,531 | €9,137 | -€394 | -4.1% |
| Furniture and vehicles | 24 | €20,519 | €29,523 | +€9,004 | +43.9% |
| Other tangible fixed assets | 26 | €9,777 | €5,485 | -€4,291 | -43.9% |
| Financial fixed assets | 28 | €9,263 | €9,263 | = | 0.0% |
| Current assets | 29/58 | €43,628 | €79,643 | +€36,015 | +82.5% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,726 | €17,579 | +€8,854 | +101% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €8,726 | €17,579 | +€8,854 | +101% |
| Cash at bank and in hand | 54/58 | €29,710 | €56,800 | +€27,090 | +91.2% |
| Deferred charges and accrued income | 490/1 | €3,192 | €3,263 | +€71 | +2.2% |
| Total equity and liabilities | 10/49 | €92,718 | €133,051 | +€40,333 | +43.5% |
| Equity | 10/15 | €57,967 | €85,813 | +€27,846 | +48.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,872 | €53,718 | +€27,846 | +108% |
| Distributable reserves | 133 | €25,872 | €53,718 | +€27,846 | +108% |
| Profit (loss) carried forward | 14 | €13,494 | €13,494 | = | 0.0% |
| Amounts payable | 17/49 | €34,751 | €47,239 | +€12,487 | +35.9% |
| Amounts payable after more than one year | 17 | €4,250 | €8,978 | +€4,728 | +111% |
| Financial debts | 170/4 | €0 | €8,978 | +€8,978 | |
| Other amounts payable | 178/9 | €4,250 | €0 | -€4,250 | -100% |
| Amounts payable within one year | 42/48 | €30,501 | €38,261 | +€7,760 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €2,609 | €4,843 | +€2,233 | +85.6% |
| Trade debts | 44 | €10,595 | €15,471 | +€4,876 | +46.0% |
| Suppliers | 440/4 | €10,595 | €15,471 | +€4,876 | +46.0% |
| Taxes, remuneration and social security | 45 | €14,297 | €17,947 | +€3,650 | +25.5% |
| Taxes | 450/3 | €9,364 | €13,737 | +€4,372 | +46.7% |
| Remuneration and social security | 454/9 | €4,932 | €4,210 | -€722 | -14.6% |
| Other amounts payable | 47/48 | €3,000 | €0 | -€3,000 | -100% |
| Remuneration, social security and pensions | 62 | €51,427 | €61,878 | +€10,450 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,342 | €17,061 | +€3,720 | +27.9% |
| Other operating charges | 640/8 | €4,118 | €6,958 | +€2,839 | +68.9% |
| Gross operating margin | 9900 | €99,826 | €128,637 | +€28,812 | +28.9% |
| Operating profit (loss) | 9901 | €30,938 | €42,740 | +€11,802 | +38.1% |
| Financial income | 75/76B | €92 | €76 | -€16 | -16.9% |
| Recurring financial income | 75 | €92 | €76 | -€16 | -16.9% |
| Financial charges | 65/66B | €3,131 | €3,102 | -€29 | -0.9% |
| Recurring financial charges | 65 | €3,131 | €3,102 | -€29 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €27,900 | €39,715 | +€11,816 | +42.4% |
| Income taxes | 67/77 | €6,866 | €11,869 | +€5,003 | +72.9% |
| Profit (loss) for the period | 9904 | €21,033 | €27,846 | +€6,813 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,033 | €27,846 | +€6,813 | +32.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.