C-MAC ELECTROMAG: 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
C-MAC ELECTROMAG
NACE 27.900, Manufacture of electrical equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.4m
2024 · €4.6m-€1.2m
Equity
€12.5m
2024 · €14.1m-€1.6m
Cash
€3.5m
2024 · €3.2m+€277,533
Balance sheet total
€31.8m
2024 · €43.1m-€11.3m
Largest movements
Assets
- Receivables after one year -€7.0m
down €7.0m (-37.3%), from €18.8m to €11.8m
- Stocks and contracts -€3.9m
down €3.9m (-28.8%), from €13.6m to €9.7m
- Receivables within one year -€1.2m
down €1.2m (-41.2%), from €2.9m to €1.7m
of which Trade receivables: -€1.2m
- Financial fixed assets +€544,098
up €544,098 (+42.8%), from €1.3m to €1.8m
Equity and liabilities
- Other debts -€5.2m
down €5.2m (-50.8%), from €10.2m to €5.0m
- Trade debts -€3.3m
down €3.3m (-39.8%), from €8.3m to €5.0m
- Debts after one year -€1.6m
down €1.6m (-26.3%), from €6.0m to €4.4m
- Reserves -€1.2m
down €1.2m (-85.9%), from €1.3m to €188,356
of which Tax-exempt reserves: -€1.2m
Income statement
- Turnover -€1.3m
down €1.3m (-3.0%), from €41.7m to €40.4m
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
€4.6m
Turnover
-€1.3m
Other operating income
-€303,575
Goods and materials
+€73,895
Services and other goods
-€22,367
Staff costs
-€113,139
Depreciation
-€29,310
Write-downs
+€356,813
Other operating charges
+€22,073
Other operating items
-€55,050
Financial income
+€23,427
Financial charges
+€312,012
Taxes
-€207,856
Result 2025
€3.4m
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.
From operations
+€8.0m
Investment
-€1.6m
Financing
-€6.2m
Cash 2024
€3.2m
From operations (derived)
+€8.0m
Net result for the year
+€3.4m
Depreciation
+€1.0m
Receivables after one year
+€7.0m
Stocks and contracts
+€3.9m
Receivables within one year
+€1.2m
Deferred charges and accrued income
-€23,624
Trade debts
-€3.3m
Tax, wage and social debts
+€274,730
Advances received
-€347,545
Other debts
-€5.2m
Accrued charges and deferred income
+€12,770
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
-€6.2m
Debts after one year
-€1.6m
Current portion of long-term debt
+€400,000
Contributions, distributions and other
-€5.0m
Cash 2025
€3.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,134,377 | €31,839,186 | -€11.3m | -26.2% |
| Fixed assets | 21/28 | €4,557,934 | €5,089,168 | +€531,235 | +11.7% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €3,286,642 | €3,273,778 | -€12,864 | -0.4% |
| Land and buildings | 22 | €291,452 | €282,731 | -€8,721 | -3.0% |
| Plant, machinery and equipment | 23 | €2,617,068 | €2,701,854 | +€84,787 | +3.2% |
| Furniture and vehicles | 24 | €79,289 | €168,602 | +€89,313 | +112.6% |
| Assets under construction and advance payments | 27 | €298,833 | €120,591 | -€178,242 | -59.6% |
| Financial fixed assets | 28 | €1,271,292 | €1,815,390 | +€544,098 | +42.8% |
| Affiliated companies | 280/1 | €1,271,292 | €1,815,390 | +€544,098 | +42.8% |
| Participating interests | 280 | €1,271,292 | €1,815,390 | +€544,098 | +42.8% |
| Current assets | 29/58 | €38,576,443 | €26,750,018 | -€11.8m | -30.7% |
| Amounts receivable after more than one year | 29 | €18,823,599 | €11,796,360 | -€7.0m | -37.3% |
| Other amounts receivable | 291 | €18,823,599 | €11,796,360 | -€7.0m | -37.3% |
| Stocks and contracts in progress | 3 | €13,598,671 | €9,676,232 | -€3.9m | -28.8% |
| Stocks | 30/36 | €13,598,671 | €9,676,232 | -€3.9m | -28.8% |
| Raw materials and consumables | 30/31 | €10,834,765 | €6,986,381 | -€3.8m | -35.5% |
| Work in progress | 32 | €1,633,383 | €1,417,034 | -€216,349 | -13.2% |
| Finished goods | 33 | €1,130,522 | €1,272,817 | +€142,295 | +12.6% |
| Amounts receivable within one year | 40/41 | €2,856,971 | €1,679,067 | -€1.2m | -41.2% |
| Trade receivables | 40 | €2,685,840 | €1,519,791 | -€1.2m | -43.4% |
| Other amounts receivable | 41 | €171,131 | €159,276 | -€11,855 | -6.9% |
| Cash at bank and in hand | 54/58 | €3,176,833 | €3,454,366 | +€277,533 | +8.7% |
| Deferred charges and accrued income | 490/1 | €120,369 | €143,993 | +€23,624 | +19.6% |
| Total equity and liabilities | 10/49 | €43,134,377 | €31,839,186 | -€11.3m | -26.2% |
| Equity | 10/15 | €14,112,958 | €12,536,363 | -€1.6m | -11.2% |
| Contributions | 10/11 | €1,799,973 | €1,799,973 | = | 0.0% |
| Revaluation surpluses | 12 | €317,000 | €317,000 | = | 0.0% |
| Reserves | 13 | €1,338,975 | €188,356 | -€1.2m | -85.9% |
| Non-distributable reserves | 130/1 | €188,356 | €188,356 | = | 0.0% |
| Reserves not available under the articles | 1311 | €180,000 | €180,000 | = | 0.0% |
| Other | 1319 | €8,356 | €8,356 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,150,620 | - | -€1.2m | |
| Profit (loss) carried forward | 14 | €10,657,010 | €10,231,034 | -€425,976 | -4.0% |
| Investment grants | 15 | - | €0 | = | |
| Amounts payable | 17/49 | €29,021,419 | €19,302,823 | -€9.7m | -33.5% |
| Amounts payable after more than one year | 17 | €6,038,181 | €4,449,320 | -€1.6m | -26.3% |
| Financial debts | 170/4 | €6,038,181 | €4,449,320 | -€1.6m | -26.3% |
| Subordinated loans | 170 | €1,650,681 | €511,820 | -€1.1m | -69.0% |
| Credit institutions | 173 | €4,387,500 | €3,937,500 | -€450,000 | -10.3% |
| Amounts payable within one year | 42/48 | €22,930,967 | €14,788,461 | -€8.1m | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €1,350,000 | €1,750,000 | +€400,000 | +29.6% |
| Trade debts | 44 | €8,332,288 | €5,018,083 | -€3.3m | -39.8% |
| Suppliers | 440/4 | €8,332,288 | €5,018,083 | -€3.3m | -39.8% |
| Advances received on contracts in progress | 46 | €387,808 | €40,263 | -€347,545 | -89.6% |
| Taxes, remuneration and social security | 45 | €2,705,386 | €2,980,115 | +€274,730 | +10.2% |
| Taxes | 450/3 | €1,133,097 | €1,514,492 | +€381,394 | +33.7% |
| Remuneration and social security | 454/9 | €1,572,288 | €1,465,624 | -€106,665 | -6.8% |
| Other amounts payable | 47/48 | €10,155,485 | €5,000,000 | -€5.2m | -50.8% |
| Accrued charges and deferred income | 492/3 | €52,271 | €65,041 | +€12,770 | +24.4% |
| Operating income | 70/76A | €42,640,028 | €41,026,849 | -€1.6m | -3.8% |
| Turnover | 70 | €41,700,573 | €40,446,020 | -€1.3m | -3.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €21,355 | -€33,695 | -€55,050 | |
| Other operating income | 74 | €918,099 | €614,524 | -€303,575 | -33.1% |
| Operating charges | 60/66A | €36,376,290 | €36,088,325 | -€287,965 | -0.8% |
| Goods for resale, raw materials and consumables | 60 | €19,218,220 | €19,144,325 | -€73,895 | -0.4% |
| Purchases | 600/8 | €20,461,750 | €15,203,749 | -€5.3m | -25.7% |
| Change in stocks: decrease (increase) | 609 | -€1,243,530 | €3,940,576 | +€5.2m | |
| Services and other goods | 61 | €5,452,263 | €5,474,630 | +€22,367 | +0.4% |
| Remuneration, social security and pensions | 62 | €10,335,255 | €10,448,394 | +€113,139 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €993,183 | €1,022,493 | +€29,310 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €304,981 | -€51,833 | -€356,813 | |
| Other operating charges | 640/8 | €72,390 | €50,316 | -€22,073 | -30.5% |
| Operating profit (loss) | 9901 | €6,263,737 | €4,938,524 | -€1.3m | -21.2% |
| Financial income | 75/76B | €515,765 | €539,192 | +€23,427 | +4.5% |
| Recurring financial income | 75 | €515,765 | €539,192 | +€23,427 | +4.5% |
| Income from current assets | 751 | €447,654 | €398,704 | -€48,950 | -10.9% |
| Other financial income | 752/9 | €68,111 | €140,488 | +€72,377 | +106.3% |
| Financial charges | 65/66B | €879,560 | €567,548 | -€312,012 | -35.5% |
| Recurring financial charges | 65 | €879,560 | €567,548 | -€312,012 | -35.5% |
| Debt charges | 650 | €436,330 | €271,912 | -€164,418 | -37.7% |
| Other financial charges | 652/9 | €443,230 | €295,636 | -€147,594 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €5,899,942 | €4,910,168 | -€989,775 | -16.8% |
| Income taxes | 67/77 | €1,278,908 | €1,486,763 | +€207,856 | +16.3% |
| Taxes | 670/3 | €1,379,471 | €1,486,763 | +€107,292 | +7.8% |
| Tax adjustments and reversals of tax provisions | 77 | €100,564 | - | -€100,564 | |
| Profit (loss) for the period | 9904 | €4,621,035 | €3,423,404 | -€1.2m | -25.9% |
| Transfer from tax-exempt reserves | 789 | €934,940 | €1,150,620 | +€215,680 | +23.1% |
| Transfer to tax-exempt reserves | 689 | €687,762 | - | -€687,762 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,868,212 | €4,574,024 | -€294,188 | -6.0% |
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 11 October 2026 via checked.be.