CECOMAR: 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.
CECOMAR
Largest movements
- Cash -€102,171
down €102,171 (-72.9%), from €140,067 to €37,896
mainly Tax, wage and social debts (-€192,643) and Other debts (-€96,128)
- Receivables within one year -€22,805
down €22,805 (-77.7%), from €29,335 to €6,530
of which Other amounts receivable: -€20,374
- Tangible fixed assets +€19,809
up €19,809 (+1.5%), from €1.3m to €1.3m
of which Land and buildings: +€25,934
- Reserves +€240,492
up €240,492 (+33.7%), from €713,347 to €953,839
of which Distributable reserves: +€245,000
- Tax, wage and social debts -€192,643
no longer reported in 2025 (was €192,643)
- Other debts -€96,128
down €96,128 (-52.9%), from €181,630 to €85,501
- Trade debts -€21,858
down €21,858 (-88.3%), from €24,752 to €2,894
- Accrued charges and deferred income -€19,126
down €19,126 (-87.8%), from €21,777 to €2,651
- Financial income +€249,938
up €249,938 (+3171804.9%), from €8 to €249,946
- Gross operating margin +€41,927
up €41,927, from -€901 to €41,026
- Depreciation +€36,938
up €36,938 (+212.8%), from €17,362 to €54,300
- Financial charges -€18,653
down €18,653 (-86.2%), from €21,635 to €2,982
- Other operating charges -€4,616
down €4,616 (-68.3%), from €6,753 to €2,138
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 | €1,737,765 | €1,632,991 | -€104,775 | -6.0% |
| Fixed assets | 21/28 | €1,566,329 | €1,586,139 | +€19,809 | +1.3% |
| Tangible fixed assets | 22/27 | €1,307,342 | €1,327,152 | +€19,809 | +1.5% |
| Land and buildings | 22 | €1,286,185 | €1,312,118 | +€25,934 | +2.0% |
| Furniture and vehicles | 24 | €21,158 | €15,034 | -€6,124 | -28.9% |
| Financial fixed assets | 28 | €258,987 | €258,987 | = | 0.0% |
| Current assets | 29/58 | €171,436 | €46,852 | -€124,584 | -72.7% |
| Amounts receivable within one year | 40/41 | €29,335 | €6,530 | -€22,805 | -77.7% |
| Trade receivables | 40 | €2,431 | - | -€2,431 | |
| Other amounts receivable | 41 | €26,904 | €6,530 | -€20,374 | -75.7% |
| Cash at bank and in hand | 54/58 | €140,067 | €37,896 | -€102,171 | -72.9% |
| Deferred charges and accrued income | 490/1 | €2,034 | €2,425 | +€392 | +19.3% |
| Total equity and liabilities | 10/49 | €1,737,765 | €1,632,991 | -€104,775 | -6.0% |
| Equity | 10/15 | €782,842 | €1,015,898 | +€233,056 | +29.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €713,347 | €953,839 | +€240,492 | +33.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €82,647 | €78,139 | -€4,508 | -5.5% |
| Distributable reserves | 133 | €624,500 | €869,500 | +€245,000 | +39.2% |
| Profit (loss) carried forward | 14 | €7,494 | €58 | -€7,436 | -99.2% |
| Provisions and deferred taxes | 16 | €27,549 | €26,046 | -€1,503 | -5.5% |
| Deferred taxes | 168 | €27,549 | €26,046 | -€1,503 | -5.5% |
| Amounts payable | 17/49 | €927,374 | €591,047 | -€336,328 | -36.3% |
| Amounts payable after more than one year | 17 | €500,000 | €500,000 | = | 0.0% |
| Financial debts | 170/4 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €405,597 | €88,396 | -€317,202 | -78.2% |
| Current portion of amounts payable after more than one year | 42 | €6,572 | - | -€6,572 | |
| Trade debts | 44 | €24,752 | €2,894 | -€21,858 | -88.3% |
| Suppliers | 440/4 | €24,752 | €2,894 | -€21,858 | -88.3% |
| Taxes, remuneration and social security | 45 | €192,643 | - | -€192,643 | |
| Taxes | 450/3 | €192,643 | - | -€192,643 | |
| Other amounts payable | 47/48 | €181,630 | €85,501 | -€96,128 | -52.9% |
| Accrued charges and deferred income | 492/3 | €21,777 | €2,651 | -€19,126 | -87.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,362 | €54,300 | +€36,938 | +212.8% |
| Other operating charges | 640/8 | €6,753 | €2,138 | -€4,616 | -68.3% |
| Gross operating margin | 9900 | -€901 | €41,026 | +€41,927 | |
| Operating profit (loss) | 9901 | -€25,016 | -€15,411 | +€9,604 | +38.4% |
| Financial income | 75/76B | €8 | €249,946 | +€249,938 | +3171804.9% |
| Recurring financial income | 75 | €8 | €249,946 | +€249,938 | +3171804.9% |
| Financial charges | 65/66B | €21,635 | €2,982 | -€18,653 | -86.2% |
| Recurring financial charges | 65 | €21,635 | €2,982 | -€18,653 | -86.2% |
| Profit (loss) for the period before taxes | 9903 | -€46,642 | €231,553 | +€278,195 | |
| Transfer from deferred taxes | 780 | €1,503 | €1,503 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€45,140 | €233,056 | +€278,195 | |
| Transfer from tax-exempt reserves | 789 | €4,508 | €4,508 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,632 | €237,564 | +€278,195 |
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.