CZ&M: 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.
CZ&M
Largest movements
- Tangible fixed assets -€6,058
down €6,058 (-29.9%), from €20,256 to €14,197
of which Other tangible fixed assets: -€5,058
- Stocks and contracts +€3,558
up €3,558 (+6.3%), from €56,125 to €59,683
- Cash +€2,753
up €2,753 (+6.5%), from €42,169 to €44,922
mainly Net result for the year (+€25,240) and Tax, wage and social debts (+€12,442)
- Receivables within one year -€1,362
down €1,362 (-16.7%), from €8,133 to €6,771
- Other debts -€32,076
down €32,076 (-93.6%), from €34,273 to €2,197
- Profit (loss) carried forward +€25,240
up €25,240 (+49.8%), from €50,675 to €75,915
- Tax, wage and social debts +€12,442
up €12,442 (+50.7%), from €24,559 to €37,001
of which Taxes: +€12,192
- Trade debts -€6,716
down €6,716 (-74.5%), from €9,016 to €2,300
- Gross operating margin +€5,839
up €5,839 (+16.1%), from €36,324 to €42,163
- Depreciation +€4,624
up €4,624 (+323%), from €1,434 to €6,058
- Financial charges -€629
down €629 (-19.2%), from €3,270 to €2,641
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,683 | €125,574 | -€1,109 | -0.9% |
| Fixed assets | 21/28 | €20,256 | €14,197 | -€6,058 | -29.9% |
| Tangible fixed assets | 22/27 | €20,256 | €14,197 | -€6,058 | -29.9% |
| Plant, machinery and equipment | 23 | €4,250 | €3,250 | -€1,000 | -23.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €16,005 | €10,947 | -€5,058 | -31.6% |
| Current assets | 29/58 | €106,427 | €111,376 | +€4,949 | +4.6% |
| Stocks and contracts in progress | 3 | €56,125 | €59,683 | +€3,558 | +6.3% |
| Stocks | 30/36 | €56,125 | €59,683 | +€3,558 | +6.3% |
| Amounts receivable within one year | 40/41 | €8,133 | €6,771 | -€1,362 | -16.7% |
| Other amounts receivable | 41 | €8,133 | €6,771 | -€1,362 | -16.7% |
| Cash at bank and in hand | 54/58 | €42,169 | €44,922 | +€2,753 | +6.5% |
| Total equity and liabilities | 10/49 | €126,683 | €125,574 | -€1,109 | -0.9% |
| Equity | 10/15 | €58,835 | €84,075 | +€25,240 | +42.9% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,675 | €75,915 | +€25,240 | +49.8% |
| Amounts payable | 17/49 | €67,848 | €41,499 | -€26,350 | -38.8% |
| Amounts payable within one year | 42/48 | €67,848 | €41,499 | -€26,350 | -38.8% |
| Trade debts | 44 | €9,016 | €2,300 | -€6,716 | -74.5% |
| Suppliers | 440/4 | €9,016 | €2,300 | -€6,716 | -74.5% |
| Taxes, remuneration and social security | 45 | €24,559 | €37,001 | +€12,442 | +50.7% |
| Taxes | 450/3 | €22,159 | €34,351 | +€12,192 | +55.0% |
| Remuneration and social security | 454/9 | €2,400 | €2,650 | +€250 | +10.4% |
| Other amounts payable | 47/48 | €34,273 | €2,197 | -€32,076 | -93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,434 | €6,058 | +€4,624 | +323% |
| Other operating charges | 640/8 | €1,572 | €1,304 | -€269 | -17.1% |
| Gross operating margin | 9900 | €36,324 | €42,163 | +€5,839 | +16.1% |
| Operating profit (loss) | 9901 | €33,318 | €34,801 | +€1,483 | +4.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,270 | €2,641 | -€629 | -19.2% |
| Recurring financial charges | 65 | €3,270 | €2,641 | -€629 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €30,048 | €32,160 | +€2,112 | +7.0% |
| Income taxes | 67/77 | €6,640 | €6,919 | +€279 | +4.2% |
| Profit (loss) for the period | 9904 | €23,408 | €25,240 | +€1,833 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,408 | €25,240 | +€1,833 | +7.8% |
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 20 October 2026 via checked.be.