CSMed: 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.
CSMed
Largest movements
- Tangible fixed assets +€55,025
up €55,025 (+6390.4%), from €861 to €55,887
- Cash -€10,173
down €10,173 (-26.7%), from €38,154 to €27,980
mainly Investment in fixed assets (net) (-€58,900) and Tax, wage and social debts (-€9,918)
- Deferred charges and accrued income +€7,053
up €7,053 (+4816.1%), from €146 to €7,200
- Receivables within one year -€4,711
down €4,711 (-27.5%), from €17,142 to €12,431
of which Other amounts receivable: -€4,286
- Debts after one year +€24,804
new in 2025: €24,804
- Other debts +€18,004
new in 2025: €18,004
- Tax, wage and social debts -€9,918
down €9,918 (-100.0%), from €9,918 to €0
- Current portion of long-term debt +€6,227
new in 2025: €6,227
- Short-term financial debts +€5,876
new in 2025: €5,876
- Gross operating margin -€36,010
down €36,010 (-78.1%), from €46,081 to €10,071
- Taxes -€8,901
down €8,901 (-89.7%), from €9,918 to €1,017
- Depreciation +€3,537
up €3,537 (+1046.5%), from €338 to €3,875
- Other operating charges +€2,613
up €2,613 (+425.4%), from €614 to €3,227
- Financial charges +€785
up €785 (+2325.9%), from €34 to €819
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 | €56,303 | €103,498 | +€47,195 | +83.8% |
| Fixed assets | 21/28 | €861 | €55,887 | +€55,025 | +6390.4% |
| Tangible fixed assets | 22/27 | €861 | €55,887 | +€55,025 | +6390.4% |
| Furniture and vehicles | 24 | €861 | €55,887 | +€55,025 | +6390.4% |
| Current assets | 29/58 | €55,442 | €47,611 | -€7,831 | -14.1% |
| Amounts receivable within one year | 40/41 | €17,142 | €12,431 | -€4,711 | -27.5% |
| Trade receivables | 40 | €3,873 | €3,448 | -€424 | -11.0% |
| Other amounts receivable | 41 | €13,269 | €8,983 | -€4,286 | -32.3% |
| Cash at bank and in hand | 54/58 | €38,154 | €27,980 | -€10,173 | -26.7% |
| Deferred charges and accrued income | 490/1 | €146 | €7,200 | +€7,053 | +4816.1% |
| Total equity and liabilities | 10/49 | €56,303 | €103,498 | +€47,195 | +83.8% |
| Equity | 10/15 | €37,546 | €38,679 | +€1,133 | +3.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,546 | €36,679 | +€1,133 | +3.2% |
| Distributable reserves | 133 | €35,546 | €36,679 | +€1,133 | +3.2% |
| Amounts payable | 17/49 | €18,757 | €64,818 | +€46,062 | +245.6% |
| Amounts payable after more than one year | 17 | - | €24,804 | +€24,804 | |
| Financial debts | 170/4 | - | €24,804 | +€24,804 | |
| Amounts payable within one year | 42/48 | €18,696 | €40,014 | +€21,318 | +114.0% |
| Current portion of amounts payable after more than one year | 42 | - | €6,227 | +€6,227 | |
| Financial debts | 43 | - | €5,876 | +€5,876 | |
| Other loans | 439 | - | €5,876 | +€5,876 | |
| Trade debts | 44 | €8,778 | €9,907 | +€1,129 | +12.9% |
| Suppliers | 440/4 | €8,778 | €9,907 | +€1,129 | +12.9% |
| Taxes, remuneration and social security | 45 | €9,918 | €0 | -€9,918 | -100.0% |
| Taxes | 450/3 | €9,918 | €0 | -€9,918 | -100.0% |
| Other amounts payable | 47/48 | - | €18,004 | +€18,004 | |
| Accrued charges and deferred income | 492/3 | €61 | €0 | -€61 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €338 | €3,875 | +€3,537 | +1046.5% |
| Other operating charges | 640/8 | €614 | €3,227 | +€2,613 | +425.4% |
| Gross operating margin | 9900 | €46,081 | €10,071 | -€36,010 | -78.1% |
| Operating profit (loss) | 9901 | €45,129 | €2,969 | -€42,160 | -93.4% |
| Financial income | 75/76B | €370 | €0 | -€370 | -100.0% |
| Recurring financial income | 75 | €370 | €0 | -€370 | -100.0% |
| Financial charges | 65/66B | €34 | €819 | +€785 | +2325.9% |
| Recurring financial charges | 65 | €34 | €819 | +€785 | +2325.9% |
| Profit (loss) for the period before taxes | 9903 | €45,465 | €2,150 | -€43,315 | -95.3% |
| Income taxes | 67/77 | €9,918 | €1,017 | -€8,901 | -89.7% |
| Profit (loss) for the period | 9904 | €35,546 | €1,133 | -€34,413 | -96.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,546 | €1,133 | -€34,413 | -96.8% |
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.