CTM Motorhomes: 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.
What changed
CTM Motorhomes
NACE 46.713, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€29,814
2024 · €2,040+€27,774
Equity
€522,994
2024 · €493,180+€29,814
Cash
€95,643
2024 · €70,177+€25,466
Balance sheet total
€3.7m
2024 · €3.0m+€712,703
Largest movements
Assets
- Stocks and contracts +€758,737
up €758,737 (+51.3%), from €1.5m to €2.2m
- Tangible fixed assets -€51,337
down €51,337 (-3.8%), from €1.4m to €1.3m
of which Land and buildings: -€53,694
Equity and liabilities
- Trade debts +€474,002
up €474,002 (+39.3%), from €1.2m to €1.7m
- Short-term financial debts +€176,326
up €176,326 (+1,176%), from €15,000 to €191,326
- Advances received +€160,029
up €160,029 (+101%), from €157,858 to €317,886
- Debts after one year -€95,883
down €95,883 (-9.9%), from €972,508 to €876,625
Income statement
- Financial charges -€92,725
down €92,725 (-57.1%), from €162,429 to €69,704
of which Non-recurring financial charges: -€95,000
- Gross operating margin -€62,908
down €62,908 (-15.4%), from €408,502 to €345,594
- Staff costs +€20,389
up €20,389 (+13.1%), from €155,631 to €176,019
- Taxes -€14,038
down €14,038 (-48.0%), from €29,268 to €15,230
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.
Result 2024
€2,040
Gross operating margin
-€62,908
Staff costs
-€20,389
Depreciation
+€1,791
Write-downs
-€825
Other operating charges
+€3,393
Other operating items
-€1,079
Financial income
+€1,027
Financial charges
+€92,725
Taxes
+€14,038
Result 2025
€29,814
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
-€45,995
Investment
-€9,376
Financing
+€80,838
Cash 2024
€70,177
From operations (derived)
-€45,995
Net result for the year
+€29,814
Depreciation
+€60,714
Stocks and contracts
-€758,737
Receivables within one year
+€24,904
Deferred charges and accrued income
-€4,741
Trade debts
+€474,002
Tax, wage and social debts
-€31,979
Advances received
+€160,029
Investment (derived)
-€9,376
Investment in fixed assets (net)
-€9,376
Financing
+€80,838
Debts after one year
-€95,883
Current portion of long-term debt
+€395
Short-term financial debts
+€176,326
Cash 2025
€95,643
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,020,774 | €3,733,477 | +€712,703 | +23.6% |
| Fixed assets | 21/28 | €1,368,033 | €1,316,695 | -€51,337 | -3.8% |
| Tangible fixed assets | 22/27 | €1,368,033 | €1,316,695 | -€51,337 | -3.8% |
| Land and buildings | 22 | €1,344,818 | €1,291,124 | -€53,694 | -4.0% |
| Plant, machinery and equipment | 23 | €17,087 | €18,463 | +€1,376 | +8.1% |
| Furniture and vehicles | 24 | €6,128 | €7,108 | +€981 | +16.0% |
| Current assets | 29/58 | €1,652,741 | €2,416,782 | +€764,041 | +46.2% |
| Stocks and contracts in progress | 3 | €1,479,844 | €2,238,581 | +€758,737 | +51.3% |
| Stocks | 30/36 | €1,479,844 | €2,238,581 | +€758,737 | +51.3% |
| Amounts receivable within one year | 40/41 | €89,171 | €64,267 | -€24,904 | -27.9% |
| Trade receivables | 40 | €85,247 | €54,497 | -€30,750 | -36.1% |
| Other amounts receivable | 41 | €3,924 | €9,771 | +€5,846 | +149% |
| Cash at bank and in hand | 54/58 | €70,177 | €95,643 | +€25,466 | +36.3% |
| Deferred charges and accrued income | 490/1 | €13,550 | €18,291 | +€4,741 | +35.0% |
| Total equity and liabilities | 10/49 | €3,020,774 | €3,733,477 | +€712,703 | +23.6% |
| Equity | 10/15 | €493,180 | €522,994 | +€29,814 | +6.0% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €6,860 | €36,674 | +€29,814 | +435% |
| Distributable reserves | 133 | €6,860 | €36,674 | +€29,814 | +435% |
| Profit (loss) carried forward | 14 | €417,720 | €417,720 | = | 0.0% |
| Amounts payable | 17/49 | €2,527,595 | €3,210,484 | +€682,889 | +27.0% |
| Amounts payable after more than one year | 17 | €972,508 | €876,625 | -€95,883 | -9.9% |
| Financial debts | 170/4 | €972,508 | €876,625 | -€95,883 | -9.9% |
| Amounts payable within one year | 42/48 | €1,555,086 | €2,333,858 | +€778,772 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €95,488 | €95,883 | +€395 | +0.4% |
| Financial debts | 43 | €15,000 | €191,326 | +€176,326 | +1,176% |
| Credit institutions | 430/8 | €15,000 | €191,326 | +€176,326 | +1,176% |
| Trade debts | 44 | €1,205,414 | €1,679,415 | +€474,002 | +39.3% |
| Suppliers | 440/4 | €1,205,414 | €1,679,415 | +€474,002 | +39.3% |
| Advances received on contracts in progress | 46 | €157,858 | €317,886 | +€160,029 | +101% |
| Taxes, remuneration and social security | 45 | €60,952 | €28,973 | -€31,979 | -52.5% |
| Taxes | 450/3 | €50,517 | €16,137 | -€34,381 | -68.1% |
| Remuneration and social security | 454/9 | €10,435 | €12,837 | +€2,402 | +23.0% |
| Other amounts payable | 47/48 | €20,375 | €20,375 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €155,631 | €176,019 | +€20,389 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,505 | €60,714 | -€1,791 | -2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €825 | +€825 | |
| Other operating charges | 640/8 | €9,857 | €6,464 | -€3,393 | -34.4% |
| Non-recurring operating charges | 66A | €8 | €1,087 | +€1,079 | +13,141% |
| Gross operating margin | 9900 | €408,502 | €345,594 | -€62,908 | -15.4% |
| Operating profit (loss) | 9901 | €180,501 | €100,484 | -€80,017 | -44.3% |
| Financial income | 75/76B | €13,237 | €14,264 | +€1,027 | +7.8% |
| Recurring financial income | 75 | €13,237 | €14,264 | +€1,027 | +7.8% |
| Financial charges | 65/66B | €162,429 | €69,704 | -€92,725 | -57.1% |
| Recurring financial charges | 65 | €67,429 | €69,704 | +€2,275 | +3.4% |
| Non-recurring financial charges | 66B | €95,000 | - | -€95,000 | |
| Profit (loss) for the period before taxes | 9903 | €31,308 | €45,044 | +€13,736 | +43.9% |
| Income taxes | 67/77 | €29,268 | €15,230 | -€14,038 | -48.0% |
| Profit (loss) for the period | 9904 | €2,040 | €29,814 | +€27,774 | +1,361% |
| Profit (loss) for the period to be appropriated | 9905 | €2,040 | €29,814 | +€27,774 | +1,361% |
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 31 October 2026 via checked.be.