CEDEMA: 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.
CEDEMA
Largest movements
- Tangible fixed assets +€78,163
up €78,163 (+42.3%), from €184,754 to €262,917
of which Land and buildings: +€79,918
- Receivables after one year +€51,112
up €51,112 (+31.5%), from €162,013 to €213,125
- Cash -€8,968
down €8,968 (-85.0%), from €10,547 to €1,579
mainly Investment in fixed assets (net) (-€95,480) and Receivables after one year (-€51,112)
- Debts after one year +€84,139
new in 2024: €84,139
- Short-term financial debts +€23,708
new in 2024: €23,708
- Reserves +€15,252
up €15,252 (+17.1%), from €89,375 to €104,627
of which Distributable reserves: +€15,252
- Financial income +€8,125
up €8,125 (+175.5%), from €4,629 to €12,754
- Depreciation +€6,932
up €6,932 (+66.7%), from €10,385 to €17,317
- Financial charges +€3,966
up €3,966 (+1148.1%), from €345 to €4,311
- Gross operating margin +€1,273
up €1,273 (+3.6%), from €35,210 to €36,482
- Taxes -€1,263
down €1,263 (-12.7%), from €9,964 to €8,700
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €367,015 | €487,322 | +€120,307 | +32.8% |
| Fixed assets | 21/28 | €184,754 | €262,917 | +€78,163 | +42.3% |
| Tangible fixed assets | 22/27 | €184,754 | €262,917 | +€78,163 | +42.3% |
| Land and buildings | 22 | €173,858 | €253,776 | +€79,918 | +46.0% |
| Furniture and vehicles | 24 | €10,896 | €9,142 | -€1,755 | -16.1% |
| Current assets | 29/58 | €182,260 | €224,405 | +€42,144 | +23.1% |
| Amounts receivable after more than one year | 29 | €162,013 | €213,125 | +€51,112 | +31.5% |
| Other amounts receivable | 291 | €162,013 | €213,125 | +€51,112 | +31.5% |
| Amounts receivable within one year | 40/41 | €9,700 | €9,700 | = | 0.0% |
| Trade receivables | 40 | €9,700 | €9,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,547 | €1,579 | -€8,968 | -85.0% |
| Total equity and liabilities | 10/49 | €367,015 | €487,322 | +€120,307 | +32.8% |
| Equity | 10/15 | €345,131 | €360,383 | +€15,252 | +4.4% |
| Contributions | 10/11 | €61,998 | €61,998 | = | 0.0% |
| Capital | 10 | €61,998 | €61,998 | = | 0.0% |
| Issued capital | 100 | €61,998 | €61,998 | = | 0.0% |
| Revaluation surpluses | 12 | €117,502 | €117,502 | = | 0.0% |
| Reserves | 13 | €89,375 | €104,627 | +€15,252 | +17.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €83,175 | €98,427 | +€15,252 | +18.3% |
| Profit (loss) carried forward | 14 | €76,257 | €76,257 | = | 0.0% |
| Amounts payable | 17/49 | €21,883 | €126,939 | +€105,056 | +480.1% |
| Amounts payable after more than one year | 17 | - | €84,139 | +€84,139 | |
| Financial debts | 170/4 | - | €84,139 | +€84,139 | |
| Amounts payable within one year | 42/48 | €21,883 | €42,799 | +€20,916 | +95.6% |
| Financial debts | 43 | - | €23,708 | +€23,708 | |
| Credit institutions | 430/8 | - | €23,708 | +€23,708 | |
| Trade debts | 44 | €369 | €187 | -€182 | -49.4% |
| Suppliers | 440/4 | €369 | €187 | -€182 | -49.4% |
| Taxes, remuneration and social security | 45 | €21,514 | €18,904 | -€2,609 | -12.1% |
| Taxes | 450/3 | €21,514 | €18,904 | -€2,609 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,385 | €17,317 | +€6,932 | +66.7% |
| Other operating charges | 640/8 | €3,604 | €3,657 | +€53 | +1.5% |
| Gross operating margin | 9900 | €35,210 | €36,482 | +€1,273 | +3.6% |
| Operating profit (loss) | 9901 | €21,221 | €15,509 | -€5,712 | -26.9% |
| Financial income | 75/76B | €4,629 | €12,754 | +€8,125 | +175.5% |
| Recurring financial income | 75 | €4,629 | €12,754 | +€8,125 | +175.5% |
| Financial charges | 65/66B | €345 | €4,311 | +€3,966 | +1148.1% |
| Recurring financial charges | 65 | €345 | €4,311 | +€3,966 | +1148.1% |
| Profit (loss) for the period before taxes | 9903 | €25,505 | €23,952 | -€1,553 | -6.1% |
| Income taxes | 67/77 | €9,964 | €8,700 | -€1,263 | -12.7% |
| Profit (loss) for the period | 9904 | €15,541 | €15,252 | -€289 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,541 | €15,252 | -€289 | -1.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.