CMN CONCEPT: 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.
CMN CONCEPT
Largest movements
- Cash -€33,743
down €33,743 (-40.5%), from €83,380 to €49,637
mainly Debts after one year (-€41,933) and Investment in fixed assets (net) (-€28,372)
- Receivables within one year +€26,393
up €26,393 (+133.6%), from €19,753 to €46,146
of which Trade receivables: +€17,491
- Tangible fixed assets -€13,412
down €13,412 (-6.4%), from €210,722 to €197,310
of which Plant, machinery and equipment: -€14,452
- Stocks and contracts +€6,842
up €6,842 (+10.1%), from €67,416 to €74,259
- Debts after one year -€41,933
down €41,933 (-28.8%), from €145,349 to €103,416
- Profit (loss) carried forward +€28,502
up €28,502 (+128.5%), from €22,188 to €50,690
- Other debts -€26,820
down €26,820 (-23.1%), from €116,119 to €89,299
- Trade debts +€15,088
up €15,088 (+3036.6%), from €497 to €15,585
- Advances received +€14,734
up €14,734 (+96.5%), from €15,266 to €30,000
- Gross operating margin +€9,511
up €9,511 (+3.7%), from €256,963 to €266,474
- Staff costs +€6,157
up €6,157 (+3.6%), from €171,742 to €177,899
- Taxes +€2,887
up €2,887 (+36.2%), from €7,963 to €10,850
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 | €388,153 | €372,027 | -€16,125 | -4.2% |
| Formation expenses | 20 | €1,612 | €1,162 | -€450 | -27.9% |
| Fixed assets | 21/28 | €211,211 | €197,799 | -€13,412 | -6.3% |
| Tangible fixed assets | 22/27 | €210,722 | €197,310 | -€13,412 | -6.4% |
| Land and buildings | 22 | €15,460 | €15,460 | = | 0.0% |
| Plant, machinery and equipment | 23 | €110,596 | €96,144 | -€14,452 | -13.1% |
| Furniture and vehicles | 24 | €35,943 | €28,805 | -€7,138 | -19.9% |
| Other tangible fixed assets | 26 | €43,274 | €38,274 | -€5,000 | -11.6% |
| Assets under construction and advance payments | 27 | €5,449 | €18,628 | +€13,179 | +241.9% |
| Financial fixed assets | 28 | €489 | €489 | = | 0.0% |
| Current assets | 29/58 | €175,330 | €173,066 | -€2,264 | -1.3% |
| Stocks and contracts in progress | 3 | €67,416 | €74,259 | +€6,842 | +10.1% |
| Stocks | 30/36 | €67,416 | €74,259 | +€6,842 | +10.1% |
| Amounts receivable within one year | 40/41 | €19,753 | €46,146 | +€26,393 | +133.6% |
| Trade receivables | 40 | €15,505 | €32,996 | +€17,491 | +112.8% |
| Other amounts receivable | 41 | €4,249 | €13,150 | +€8,901 | +209.5% |
| Cash at bank and in hand | 54/58 | €83,380 | €49,637 | -€33,743 | -40.5% |
| Deferred charges and accrued income | 490/1 | €4,780 | €3,024 | -€1,756 | -36.7% |
| Total equity and liabilities | 10/49 | €388,153 | €372,027 | -€16,125 | -4.2% |
| Equity | 10/15 | €42,188 | €70,690 | +€28,502 | +67.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,188 | €50,690 | +€28,502 | +128.5% |
| Amounts payable | 17/49 | €345,965 | €301,338 | -€44,628 | -12.9% |
| Amounts payable after more than one year | 17 | €145,349 | €103,416 | -€41,933 | -28.8% |
| Financial debts | 170/4 | €145,349 | €103,416 | -€41,933 | -28.8% |
| Amounts payable within one year | 42/48 | €199,105 | €197,573 | -€1,531 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €42,869 | €43,983 | +€1,114 | +2.6% |
| Trade debts | 44 | €497 | €15,585 | +€15,088 | +3036.6% |
| Suppliers | 440/4 | €497 | €15,585 | +€15,088 | +3036.6% |
| Advances received on contracts in progress | 46 | €15,266 | €30,000 | +€14,734 | +96.5% |
| Taxes, remuneration and social security | 45 | €24,354 | €18,707 | -€5,647 | -23.2% |
| Taxes | 450/3 | €7,027 | €7,442 | +€415 | +5.9% |
| Remuneration and social security | 454/9 | €17,327 | €11,265 | -€6,062 | -35.0% |
| Other amounts payable | 47/48 | €116,119 | €89,299 | -€26,820 | -23.1% |
| Accrued charges and deferred income | 492/3 | €1,512 | €348 | -€1,164 | -77.0% |
| Non-recurring operating income | 76A | - | €5,264 | +€5,264 | |
| Remuneration, social security and pensions | 62 | €171,742 | €177,899 | +€6,157 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,508 | €42,233 | +€1,725 | +4.3% |
| Other operating charges | 640/8 | €735 | €781 | +€45 | +6.2% |
| Gross operating margin | 9900 | €256,963 | €266,474 | +€9,511 | +3.7% |
| Operating profit (loss) | 9901 | €43,978 | €45,561 | +€1,583 | +3.6% |
| Financial income | 75/76B | €80 | €40 | -€40 | -50.1% |
| Recurring financial income | 75 | €80 | €40 | -€40 | -50.1% |
| Financial charges | 65/66B | €7,948 | €6,249 | -€1,699 | -21.4% |
| Recurring financial charges | 65 | €7,948 | €6,249 | -€1,699 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €36,110 | €39,352 | +€3,242 | +9.0% |
| Income taxes | 67/77 | €7,963 | €10,850 | +€2,887 | +36.2% |
| Profit (loss) for the period | 9904 | €28,147 | €28,502 | +€356 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,147 | €28,502 | +€356 | +1.3% |
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.