CSM CONSTRUCTION: 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.
CSM CONSTRUCTION
Largest movements
- Receivables after one year +€22,916
up €22,916 (+32.6%), from €70,392 to €93,307
of which Trade receivables: +€22,886
- Receivables within one year -€4,063
down €4,063 (-3.6%), from €111,589 to €107,526
of which Trade receivables: -€3,234
- Profit (loss) carried forward +€17,006
up €17,006 (+61.8%), from €27,518 to €44,523
- Advances received +€6,050
up €6,050 (+151.3%), from €4,000 to €10,050
- Trade debts -€2,642
down €2,642 (-3.0%), from €87,962 to €85,319
- Gross operating margin +€4,693
up €4,693 (+22.3%), from €21,034 to €25,727
- Other operating charges +€1,424
up €1,424 (+957.5%), from €149 to €1,573
- Taxes +€657
up €657 (+15.6%), from €4,205 to €4,862
- Financial charges +€480
up €480 (+20.8%), from €2,313 to €2,793
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,440 | €201,793 | +€18,353 | +10.0% |
| Fixed assets | 21/28 | €1,263 | €763 | -€500 | -39.6% |
| Tangible fixed assets | 22/27 | €500 | - | -€500 | |
| Other tangible fixed assets | 26 | €500 | - | -€500 | |
| Financial fixed assets | 28 | €763 | €763 | = | 0.0% |
| Current assets | 29/58 | €182,177 | €201,030 | +€18,853 | +10.3% |
| Amounts receivable after more than one year | 29 | €70,392 | €93,307 | +€22,916 | +32.6% |
| Trade receivables | 290 | €67,186 | €90,072 | +€22,886 | +34.1% |
| Other amounts receivable | 291 | €3,206 | €3,235 | +€30 | +0.9% |
| Amounts receivable within one year | 40/41 | €111,589 | €107,526 | -€4,063 | -3.6% |
| Trade receivables | 40 | €109,568 | €106,334 | -€3,234 | -3.0% |
| Other amounts receivable | 41 | €2,021 | €1,191 | -€829 | -41.0% |
| Deferred charges and accrued income | 490/1 | €197 | €197 | +€0 | +0.2% |
| Total equity and liabilities | 10/49 | €183,440 | €201,793 | +€18,353 | +10.0% |
| Equity | 10/15 | €39,844 | €56,849 | +€17,006 | +42.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €6,126 | €6,126 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €6,126 | +€6,126 | |
| Distributable reserves | 133 | €6,126 | - | -€6,126 | |
| Profit (loss) carried forward | 14 | €27,518 | €44,523 | +€17,006 | +61.8% |
| Amounts payable | 17/49 | €143,597 | €144,944 | +€1,347 | +0.9% |
| Amounts payable after more than one year | 17 | €21,385 | €21,385 | = | 0.0% |
| Financial debts | 170/4 | €21,385 | €21,385 | = | 0.0% |
| Amounts payable within one year | 42/48 | €118,658 | €121,190 | +€2,532 | +2.1% |
| Financial debts | 43 | €17,581 | €16,302 | -€1,278 | -7.3% |
| Credit institutions | 430/8 | €17,581 | €16,302 | -€1,278 | -7.3% |
| Trade debts | 44 | €87,962 | €85,319 | -€2,642 | -3.0% |
| Suppliers | 440/4 | €87,962 | €85,319 | -€2,642 | -3.0% |
| Advances received on contracts in progress | 46 | €4,000 | €10,050 | +€6,050 | +151.3% |
| Taxes, remuneration and social security | 45 | €9,116 | €9,518 | +€403 | +4.4% |
| Taxes | 450/3 | €9,116 | €9,518 | +€403 | +4.4% |
| Accrued charges and deferred income | 492/3 | €3,554 | €2,369 | -€1,185 | -33.3% |
| Remuneration, social security and pensions | 62 | €284 | €177 | -€106 | -37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €500 | = | 0.0% |
| Other operating charges | 640/8 | €149 | €1,573 | +€1,424 | +957.5% |
| Non-recurring operating charges | 66A | €1,007 | - | -€1,007 | |
| Gross operating margin | 9900 | €21,034 | €25,727 | +€4,693 | +22.3% |
| Operating profit (loss) | 9901 | €19,095 | €23,477 | +€4,382 | +22.9% |
| Financial income | 75/76B | €1,185 | €1,185 | = | 0.0% |
| Recurring financial income | 75 | €1,185 | €1,185 | = | 0.0% |
| Financial charges | 65/66B | €2,313 | €2,793 | +€480 | +20.8% |
| Recurring financial charges | 65 | €2,313 | €2,793 | +€480 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €17,966 | €21,868 | +€3,902 | +21.7% |
| Income taxes | 67/77 | €4,205 | €4,862 | +€657 | +15.6% |
| Profit (loss) for the period | 9904 | €13,761 | €17,006 | +€3,245 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,761 | €17,006 | +€3,245 | +23.6% |
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 4 October 2026 via checked.be.