CSM & MORE: 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.
CSM & MORE
Largest movements
- Cash -€37,997
down €37,997 (-57.3%), from €66,364 to €28,367
mainly Other debts (-€16,257) and Net result for the year (-€9,109)
- Receivables within one year +€5,710
up €5,710 (+43.9%), from €13,011 to €18,722
- Other debts -€16,257
down €16,257 (-28.9%), from €56,303 to €40,046
- Profit (loss) carried forward -€9,109
down €9,109 (-69.9%), from €13,040 to €3,931
- Trade debts -€6,945
down €6,945 (-76.9%), from €9,028 to €2,083
- Gross operating margin -€32,583
down €32,583, from €24,000 to -€8,583
- Taxes -€12,061
down €12,061, from €9,000 to -€3,061
- Other operating charges -€5,064
down €5,064 (-77.6%), from €6,523 to €1,459
- Financial charges +€1,889
up €1,889 (+787.7%), from €240 to €2,129
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 | €79,870 | €47,560 | -€32,311 | -40.5% |
| Current assets | 29/58 | €79,870 | €47,560 | -€32,311 | -40.5% |
| Amounts receivable within one year | 40/41 | €13,011 | €18,722 | +€5,710 | +43.9% |
| Other amounts receivable | 41 | €13,011 | €18,722 | +€5,710 | +43.9% |
| Cash at bank and in hand | 54/58 | €66,364 | €28,367 | -€37,997 | -57.3% |
| Deferred charges and accrued income | 490/1 | €495 | €470 | -€25 | -5.0% |
| Total equity and liabilities | 10/49 | €79,870 | €47,560 | -€32,311 | -40.5% |
| Equity | 10/15 | €14,540 | €5,431 | -€9,109 | -62.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,040 | €3,931 | -€9,109 | -69.9% |
| Amounts payable | 17/49 | €65,331 | €42,129 | -€23,202 | -35.5% |
| Amounts payable within one year | 42/48 | €65,331 | €42,129 | -€23,202 | -35.5% |
| Trade debts | 44 | €9,028 | €2,083 | -€6,945 | -76.9% |
| Suppliers | 440/4 | €9,028 | €2,083 | -€6,945 | -76.9% |
| Other amounts payable | 47/48 | €56,303 | €40,046 | -€16,257 | -28.9% |
| Other operating charges | 640/8 | €6,523 | €1,459 | -€5,064 | -77.6% |
| Gross operating margin | 9900 | €24,000 | -€8,583 | -€32,583 | |
| Operating profit (loss) | 9901 | €17,477 | -€10,042 | -€27,519 | |
| Financial charges | 65/66B | €240 | €2,129 | +€1,889 | +787.7% |
| Recurring financial charges | 65 | €240 | €2,129 | +€1,889 | +787.7% |
| Profit (loss) for the period before taxes | 9903 | €17,237 | -€12,170 | -€29,407 | |
| Income taxes | 67/77 | €9,000 | -€3,061 | -€12,061 | |
| Profit (loss) for the period | 9904 | €8,237 | -€9,109 | -€17,347 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,237 | -€9,109 | -€17,347 |
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 12 October 2026 via checked.be.