CSM&I: 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&I
Largest movements
- Cash -€3,491
down €3,491 (-8.0%), from €43,716 to €40,225
mainly Net result for the year (-€3,903) and Tax, wage and social debts (-€1,166)
- Tangible fixed assets -€1,435
down €1,435 (-39.9%), from €3,593 to €2,159
- Profit (loss) carried forward -€3,903
new in 2025: -€3,903
- Tax, wage and social debts -€1,166
down €1,166 (-9.0%), from €12,941 to €11,775
- Gross operating margin -€45,640
down €45,640, from €43,247 to -€2,393
- Taxes -€11,775
no longer reported in 2025 (was €11,775)
- Depreciation +€724
up €724 (+102.0%), from €710 to €1,435
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 | €47,848 | €42,989 | -€4,859 | -10.2% |
| Fixed assets | 21/28 | €3,593 | €2,159 | -€1,435 | -39.9% |
| Tangible fixed assets | 22/27 | €3,593 | €2,159 | -€1,435 | -39.9% |
| Furniture and vehicles | 24 | €3,593 | €2,159 | -€1,435 | -39.9% |
| Current assets | 29/58 | €44,254 | €40,830 | -€3,424 | -7.7% |
| Amounts receivable within one year | 40/41 | €539 | €605 | +€67 | +12.4% |
| Other amounts receivable | 41 | €539 | €605 | +€67 | +12.4% |
| Cash at bank and in hand | 54/58 | €43,716 | €40,225 | -€3,491 | -8.0% |
| Total equity and liabilities | 10/49 | €47,848 | €42,989 | -€4,859 | -10.2% |
| Equity | 10/15 | €34,824 | €30,921 | -€3,903 | -11.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €33,824 | €33,824 | = | 0.0% |
| Distributable reserves | 133 | €33,824 | €33,824 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,903 | -€3,903 | |
| Amounts payable | 17/49 | €13,024 | €12,068 | -€955 | -7.3% |
| Amounts payable within one year | 42/48 | €13,024 | €12,068 | -€955 | -7.3% |
| Trade debts | 44 | €83 | €293 | +€210 | +254.4% |
| Suppliers | 440/4 | €83 | €293 | +€210 | +254.4% |
| Taxes, remuneration and social security | 45 | €12,941 | €11,775 | -€1,166 | -9.0% |
| Taxes | 450/3 | €12,941 | €11,775 | -€1,166 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €710 | €1,435 | +€724 | +102.0% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €43,247 | -€2,393 | -€45,640 | |
| Operating profit (loss) | 9901 | €42,475 | -€3,889 | -€46,364 | |
| Financial income | 75/76B | €59 | €26 | -€33 | -55.3% |
| Recurring financial income | 75 | €59 | €26 | -€33 | -55.3% |
| Financial charges | 65/66B | €43 | €40 | -€3 | -6.4% |
| Recurring financial charges | 65 | €43 | €40 | -€3 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €42,491 | -€3,903 | -€46,394 | |
| Income taxes | 67/77 | €11,775 | - | -€11,775 | |
| Profit (loss) for the period | 9904 | €30,716 | -€3,903 | -€34,619 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,716 | -€3,903 | -€34,619 |
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 29 September 2026 via checked.be.