CSMT: 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.
CSMT
Largest movements
- Cash +€150,036
up €150,036 (+822.9%), from €18,233 to €168,268
mainly Current investments (+€130,000) and Net result for the year (+€19,720)
- Current investments -€130,000
no longer reported in 2025 (was €130,000)
- Tangible fixed assets -€7,117
down €7,117 (-3.5%), from €200,969 to €193,852
of which Land and buildings: -€3,588
- Receivables within one year +€4,123
up €4,123 (+70.8%), from €5,824 to €9,947
of which Trade receivables: +€3,544
- Reserves +€19,720
up €19,720 (+21.3%), from €92,598 to €112,318
of which Distributable reserves: +€19,720
- Debts after one year -€11,851
down €11,851 (-14.8%), from €80,156 to €68,306
- Other debts +€6,537
up €6,537 (+12.4%), from €52,556 to €59,093
- Tax, wage and social debts +€5,031
up €5,031 (+281.5%), from €1,787 to €6,818
of which Taxes: +€5,017
- Taxes +€4,095
up €4,095 (+61.8%), from €6,622 to €10,717
- Financial income +€3,504
up €3,504 (+1192.2%), from €294 to €3,798
- Gross operating margin +€3,402
up €3,402 (+8.0%), from €42,675 to €46,077
- Financial charges +€3,187
up €3,187 (+344.3%), from €926 to €4,113
- Depreciation -€1,914
down €1,914 (-21.2%), from €9,030 to €7,117
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 | €361,459 | €379,677 | +€18,218 | +5.0% |
| Fixed assets | 21/28 | €200,969 | €194,452 | -€6,517 | -3.2% |
| Tangible fixed assets | 22/27 | €200,969 | €193,852 | -€7,117 | -3.5% |
| Land and buildings | 22 | €192,263 | €188,675 | -€3,588 | -1.9% |
| Plant, machinery and equipment | 23 | €1,131 | €304 | -€827 | -73.1% |
| Furniture and vehicles | 24 | €7,574 | €4,873 | -€2,702 | -35.7% |
| Financial fixed assets | 28 | - | €600 | +€600 | |
| Current assets | 29/58 | €160,490 | €185,224 | +€24,734 | +15.4% |
| Stocks and contracts in progress | 3 | €6,302 | €6,302 | = | 0.0% |
| Stocks | 30/36 | €6,302 | €6,302 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,824 | €9,947 | +€4,123 | +70.8% |
| Trade receivables | 40 | €1,300 | €4,844 | +€3,544 | +272.6% |
| Other amounts receivable | 41 | €4,524 | €5,104 | +€580 | +12.8% |
| Current investments | 50/53 | €130,000 | - | -€130,000 | |
| Cash at bank and in hand | 54/58 | €18,233 | €168,268 | +€150,036 | +822.9% |
| Deferred charges and accrued income | 490/1 | €132 | €707 | +€575 | +436.3% |
| Total equity and liabilities | 10/49 | €361,459 | €379,677 | +€18,218 | +5.0% |
| Equity | 10/15 | €212,208 | €231,927 | +€19,720 | +9.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €92,598 | €112,318 | +€19,720 | +21.3% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €90,698 | €110,418 | +€19,720 | +21.7% |
| Profit (loss) carried forward | 14 | €100,610 | €100,610 | = | 0.0% |
| Amounts payable | 17/49 | €149,251 | €147,749 | -€1,502 | -1.0% |
| Amounts payable after more than one year | 17 | €80,156 | €68,306 | -€11,851 | -14.8% |
| Financial debts | 170/4 | €80,156 | €68,306 | -€11,851 | -14.8% |
| Amounts payable within one year | 42/48 | €69,095 | €79,443 | +€10,349 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €14,752 | €11,851 | -€2,901 | -19.7% |
| Trade debts | 44 | €0 | €1,681 | +€1,681 | |
| Suppliers | 440/4 | €0 | €1,681 | +€1,681 | |
| Taxes, remuneration and social security | 45 | €1,787 | €6,818 | +€5,031 | +281.5% |
| Taxes | 450/3 | €1,749 | €6,766 | +€5,017 | +286.8% |
| Remuneration and social security | 454/9 | €38 | €52 | +€14 | +37.5% |
| Other amounts payable | 47/48 | €52,556 | €59,093 | +€6,537 | +12.4% |
| Remuneration, social security and pensions | 62 | €5,062 | €3,519 | -€1,544 | -30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,030 | €7,117 | -€1,914 | -21.2% |
| Other operating charges | 640/8 | €4,736 | €4,690 | -€46 | -1.0% |
| Gross operating margin | 9900 | €42,675 | €46,077 | +€3,402 | +8.0% |
| Operating profit (loss) | 9901 | €23,846 | €30,752 | +€6,906 | +29.0% |
| Financial income | 75/76B | €294 | €3,798 | +€3,504 | +1192.2% |
| Recurring financial income | 75 | €294 | €3,798 | +€3,504 | +1192.2% |
| Financial charges | 65/66B | €926 | €4,113 | +€3,187 | +344.3% |
| Recurring financial charges | 65 | €926 | €4,113 | +€3,187 | +344.3% |
| Profit (loss) for the period before taxes | 9903 | €23,214 | €30,437 | +€7,222 | +31.1% |
| Income taxes | 67/77 | €6,622 | €10,717 | +€4,095 | +61.8% |
| Profit (loss) for the period | 9904 | €16,592 | €19,720 | +€3,128 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,592 | €19,720 | +€3,128 | +18.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.