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
- Receivables within one year +€24,602
up €24,602 (+199.4%), from €12,336 to €36,938
- Deferred charges and accrued income +€9,000
new in 2025: €9,000
- Trade debts +€18,851
up €18,851 (+1373.9%), from €1,372 to €20,223
- Reserves +€10,790
up €10,790 (+3.3%), from €322,810 to €333,600
- Gross operating margin -€33,685
down €33,685 (-36.0%), from €93,543 to €59,859
- Taxes -€13,487
down €13,487 (-50.5%), from €26,707 to €13,219
- Financial income +€1,060
up €1,060 (+3275.4%), from €32 to €1,092
- Depreciation -€960
down €960 (-18.4%), from €5,206 to €4,246
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 | €394,965 | €423,696 | +€28,731 | +7.3% |
| Fixed assets | 21/28 | €358,118 | €357,279 | -€838 | -0.2% |
| Tangible fixed assets | 22/27 | €358,118 | €357,279 | -€838 | -0.2% |
| Land and buildings | 22 | €358,118 | €357,279 | -€838 | -0.2% |
| Current assets | 29/58 | €36,848 | €66,417 | +€29,569 | +80.2% |
| Amounts receivable within one year | 40/41 | €12,336 | €36,938 | +€24,602 | +199.4% |
| Other amounts receivable | 41 | €12,336 | €36,938 | +€24,602 | +199.4% |
| Cash at bank and in hand | 54/58 | €24,512 | €20,479 | -€4,034 | -16.5% |
| Deferred charges and accrued income | 490/1 | - | €9,000 | +€9,000 | |
| Total equity and liabilities | 10/49 | €394,965 | €423,696 | +€28,731 | +7.3% |
| Equity | 10/15 | €374,587 | €385,377 | +€10,790 | +2.9% |
| Contributions | 10/11 | €51,777 | €51,777 | = | 0.0% |
| Reserves | 13 | €322,810 | €333,600 | +€10,790 | +3.3% |
| Distributable reserves | 133 | €322,810 | €333,600 | +€10,790 | +3.3% |
| Amounts payable | 17/49 | €20,379 | €38,319 | +€17,941 | +88.0% |
| Amounts payable within one year | 42/48 | €20,379 | €38,319 | +€17,941 | +88.0% |
| Trade debts | 44 | €1,372 | €20,223 | +€18,851 | +1373.9% |
| Suppliers | 440/4 | €1,372 | €20,223 | +€18,851 | +1373.9% |
| Taxes, remuneration and social security | 45 | - | €1,899 | +€1,899 | |
| Taxes | 450/3 | - | €1,899 | +€1,899 | |
| Other amounts payable | 47/48 | €19,007 | €16,197 | -€2,809 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,206 | €4,246 | -€960 | -18.4% |
| Other operating charges | 640/8 | €2,530 | €2,347 | -€183 | -7.2% |
| Gross operating margin | 9900 | €93,543 | €59,859 | -€33,685 | -36.0% |
| Operating profit (loss) | 9901 | €85,808 | €53,266 | -€32,542 | -37.9% |
| Financial income | 75/76B | €32 | €1,092 | +€1,060 | +3275.4% |
| Recurring financial income | 75 | €32 | €1,092 | +€1,060 | +3275.4% |
| Financial charges | 65/66B | €1,905 | €1,480 | -€425 | -22.3% |
| Recurring financial charges | 65 | €1,905 | €1,480 | -€425 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €83,935 | €52,878 | -€31,058 | -37.0% |
| Income taxes | 67/77 | €26,707 | €13,219 | -€13,487 | -50.5% |
| Profit (loss) for the period | 9904 | €57,229 | €39,658 | -€17,570 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,229 | €39,658 | -€17,570 | -30.7% |
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 4 October 2026 via checked.be.