CEDIMMO BXL: 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.
CEDIMMO BXL
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+193.0%), from €523,963 to €1.5m
of which Land and buildings: +€1.0m
- Receivables within one year -€832,495
down €832,495 (-83.3%), from €999,993 to €167,498
of which Other amounts receivable: -€832,495
- Cash -€357,826
down €357,826 (-50.6%), from €706,806 to €348,980
mainly Investment in fixed assets (net) (-€1.1m) and Net result for the year (-€82,846)
- Profit (loss) carried forward -€79,230
down €79,230 (-125.4%), from -€63,167 to -€142,398
- Tax, wage and social debts -€68,619
no longer reported in 2025 (was €68,619)
- Other debts -€53,805
down €53,805 (-66.3%), from €81,201 to €27,396
- Debts after one year +€42,433
up €42,433 (+18.3%), from €232,468 to €274,901
- Gross operating margin -€926,370
down €926,370 (-99.4%), from €931,665 to €5,295
- Depreciation +€22,522
up €22,522 (+49.2%), from €45,791 to €68,313
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 | €2,260,669 | €2,083,480 | -€177,190 | -7.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €523,963 | €1,534,975 | +€1.0m | +193.0% |
| Tangible fixed assets | 22/27 | €523,963 | €1,534,975 | +€1.0m | +193.0% |
| Land and buildings | 22 | €298,607 | €1,340,115 | +€1.0m | +348.8% |
| Plant, machinery and equipment | 23 | €195,374 | €172,164 | -€23,211 | -11.9% |
| Furniture and vehicles | 24 | €28,512 | €21,226 | -€7,287 | -25.6% |
| Other tangible fixed assets | 26 | €1,470 | €1,470 | = | 0.0% |
| Current assets | 29/58 | €1,736,706 | €548,505 | -€1.2m | -68.4% |
| Amounts receivable within one year | 40/41 | €999,993 | €167,498 | -€832,495 | -83.3% |
| Trade receivables | 40 | €625 | €625 | = | 0.0% |
| Other amounts receivable | 41 | €999,368 | €166,873 | -€832,495 | -83.3% |
| Current investments | 50/53 | €29,614 | €29,614 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €706,806 | €348,980 | -€357,826 | -50.6% |
| Deferred charges and accrued income | 490/1 | €293 | €2,413 | +€2,120 | +724.3% |
| Total equity and liabilities | 10/49 | €2,260,669 | €2,083,480 | -€177,190 | -7.8% |
| Equity | 10/15 | €1,563,974 | €1,480,753 | -€83,221 | -5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,614,741 | €1,610,751 | -€3,990 | -0.2% |
| Tax-exempt reserves | 132 | €698,465 | €694,474 | -€3,990 | -0.6% |
| Distributable reserves | 133 | €916,276 | €916,276 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,167 | -€142,398 | -€79,230 | -125.4% |
| Provisions and deferred taxes | 16 | €232,322 | €231,491 | -€830 | -0.4% |
| Deferred taxes | 168 | €232,322 | €231,491 | -€830 | -0.4% |
| Amounts payable | 17/49 | €464,374 | €371,235 | -€93,139 | -20.1% |
| Amounts payable after more than one year | 17 | €232,468 | €274,901 | +€42,433 | +18.3% |
| Financial debts | 170/4 | €232,468 | €274,901 | +€42,433 | +18.3% |
| Amounts payable within one year | 42/48 | €226,675 | €96,334 | -€130,341 | -57.5% |
| Current portion of amounts payable after more than one year | 42 | €69,090 | €57,557 | -€11,533 | -16.7% |
| Trade debts | 44 | €7,764 | €11,380 | +€3,616 | +46.6% |
| Suppliers | 440/4 | €7,764 | €11,380 | +€3,616 | +46.6% |
| Taxes, remuneration and social security | 45 | €68,619 | - | -€68,619 | |
| Taxes | 450/3 | €68,619 | - | -€68,619 | |
| Other amounts payable | 47/48 | €81,201 | €27,396 | -€53,805 | -66.3% |
| Accrued charges and deferred income | 492/3 | €5,231 | - | -€5,231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,791 | €68,313 | +€22,522 | +49.2% |
| Other operating charges | 640/8 | €5,217 | €7,130 | +€1,912 | +36.7% |
| Gross operating margin | 9900 | €931,665 | €5,295 | -€926,370 | -99.4% |
| Operating profit (loss) | 9901 | €880,656 | -€70,148 | -€950,804 | |
| Financial income | 75/76B | €2 | €5 | +€3 | +145.2% |
| Recurring financial income | 75 | €2 | €5 | +€3 | +145.2% |
| Financial charges | 65/66B | €12,913 | €13,908 | +€995 | +7.7% |
| Recurring financial charges | 65 | €12,913 | €13,908 | +€995 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €867,745 | -€84,051 | -€951,796 | |
| Transfer from deferred taxes | 780 | - | €1,205 | +€1,205 | |
| Transfer to deferred taxes | 680 | €232,322 | - | -€232,322 | |
| Income taxes | 67/77 | €126 | €0 | -€126 | -100.0% |
| Profit (loss) for the period | 9904 | €635,298 | -€82,846 | -€718,143 | |
| Transfer from tax-exempt reserves | 789 | - | €3,615 | +€3,615 | |
| Transfer to tax-exempt reserves | 689 | €698,465 | - | -€698,465 | |
| Profit (loss) for the period to be appropriated | 9905 | -€63,167 | -€79,230 | -€16,063 | -25.4% |
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.