CTMED: 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.
CTMED
Largest movements
- Cash +€615,759
up €615,759 (+225.6%), from €272,902 to €888,660
mainly Net result for the year (+€540,580) and Other debts (+€459,435)
- Current investments -€128,678
down €128,678 (-15.0%), from €860,700 to €732,021
- Deferred charges and accrued income +€54,051
up €54,051 (+637.5%), from €8,479 to €62,529
- Intangible fixed assets -€40,000
down €40,000 (-25.0%), from €160,000 to €120,000
- Receivables within one year -€25,395
down €25,395 (-59.7%), from €42,559 to €17,164
of which Trade receivables: -€19,655
- Other debts +€459,435
up €459,435 (+81.5%), from €564,005 to €1.0m
- Gross operating margin +€22,793
up €22,793 (+2.9%), from €784,428 to €807,221
- Other operating charges +€9,070
up €9,070 (+479.4%), from €1,892 to €10,962
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 | €1,474,786 | €1,939,631 | +€464,845 | +31.5% |
| Fixed assets | 21/28 | €290,147 | €239,256 | -€50,891 | -17.5% |
| Intangible fixed assets | 21 | €160,000 | €120,000 | -€40,000 | -25.0% |
| Tangible fixed assets | 22/27 | €130,060 | €119,169 | -€10,891 | -8.4% |
| Plant, machinery and equipment | 23 | €805 | €402 | -€403 | -50.1% |
| Furniture and vehicles | 24 | €9,522 | €15,455 | +€5,932 | +62.3% |
| Other tangible fixed assets | 26 | €119,733 | €103,313 | -€16,420 | -13.7% |
| Financial fixed assets | 28 | €87 | €87 | = | 0.0% |
| Current assets | 29/58 | €1,184,639 | €1,700,375 | +€515,737 | +43.5% |
| Amounts receivable within one year | 40/41 | €42,559 | €17,164 | -€25,395 | -59.7% |
| Trade receivables | 40 | €30,584 | €10,929 | -€19,655 | -64.3% |
| Other amounts receivable | 41 | €11,975 | €6,235 | -€5,739 | -47.9% |
| Current investments | 50/53 | €860,700 | €732,021 | -€128,678 | -15.0% |
| Cash at bank and in hand | 54/58 | €272,902 | €888,660 | +€615,759 | +225.6% |
| Deferred charges and accrued income | 490/1 | €8,479 | €62,529 | +€54,051 | +637.5% |
| Total equity and liabilities | 10/49 | €1,474,786 | €1,939,631 | +€464,845 | +31.5% |
| Equity | 10/15 | €905,403 | €905,403 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €886,803 | €886,803 | = | 0.0% |
| Distributable reserves | 133 | €886,803 | €886,803 | = | 0.0% |
| Amounts payable | 17/49 | €569,382 | €1,034,228 | +€464,845 | +81.6% |
| Amounts payable within one year | 42/48 | €568,964 | €1,034,228 | +€465,263 | +81.8% |
| Trade debts | 44 | - | €5,570 | +€5,570 | |
| Suppliers | 440/4 | - | €5,570 | +€5,570 | |
| Taxes, remuneration and social security | 45 | €4,959 | €5,218 | +€259 | +5.2% |
| Remuneration and social security | 454/9 | €4,959 | €5,218 | +€259 | +5.2% |
| Other amounts payable | 47/48 | €564,005 | €1,023,440 | +€459,435 | +81.5% |
| Accrued charges and deferred income | 492/3 | €418 | - | -€418 | |
| Remuneration, social security and pensions | 62 | €22,758 | €24,075 | +€1,317 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,123 | €66,397 | +€275 | +0.4% |
| Other operating charges | 640/8 | €1,892 | €10,962 | +€9,070 | +479.4% |
| Gross operating margin | 9900 | €784,428 | €807,221 | +€22,793 | +2.9% |
| Operating profit (loss) | 9901 | €693,655 | €705,787 | +€12,132 | +1.7% |
| Financial income | 75/76B | €21,525 | €18,677 | -€2,848 | -13.2% |
| Recurring financial income | 75 | €21,525 | €18,677 | -€2,848 | -13.2% |
| Financial charges | 65/66B | €5,704 | €6,629 | +€925 | +16.2% |
| Recurring financial charges | 65 | €5,704 | €6,629 | +€925 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €709,476 | €717,835 | +€8,359 | +1.2% |
| Income taxes | 67/77 | €172,957 | €177,255 | +€4,299 | +2.5% |
| Profit (loss) for the period | 9904 | €536,520 | €540,580 | +€4,060 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €536,520 | €540,580 | +€4,060 | +0.8% |
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 30 September 2026 via checked.be.