CEDMAR: 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.
CEDMAR
Largest movements
- Cash +€120,776
up €120,776 (+34.8%), from €346,844 to €467,619
mainly Net result for the year (+€72,368) and Current investments (+€50,128)
- Current investments -€50,128
down €50,128 (-1.2%), from €4.1m to €4.0m
- Profit (loss) carried forward +€72,368
up €72,368 (+1.6%), from €4.4m to €4.5m
- Financial income +€56,016
up €56,016 (+34.3%), from €163,384 to €219,400
- Financial charges +€36,338
up €36,338, from -€23,399 to €12,939
- Taxes +€26,402
up €26,402 (+188.9%), from €13,976 to €40,377
- Gross operating margin +€19,491
up €19,491 (+17.2%), from -€113,207 to -€93,716
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 | €4,432,383 | €4,503,264 | +€70,882 | +1.6% |
| Fixed assets | 21/28 | €100 | €100 | = | 0.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €4,432,283 | €4,503,164 | +€70,882 | +1.6% |
| Current investments | 50/53 | €4,083,146 | €4,033,018 | -€50,128 | -1.2% |
| Cash at bank and in hand | 54/58 | €346,844 | €467,619 | +€120,776 | +34.8% |
| Deferred charges and accrued income | 490/1 | €2,293 | €2,528 | +€234 | +10.2% |
| Total equity and liabilities | 10/49 | €4,432,383 | €4,503,264 | +€70,882 | +1.6% |
| Equity | 10/15 | €4,430,715 | €4,503,083 | +€72,368 | +1.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,429,715 | €4,502,083 | +€72,368 | +1.6% |
| Amounts payable | 17/49 | €1,668 | €182 | -€1,486 | -89.1% |
| Amounts payable within one year | 42/48 | €1,668 | €182 | -€1,486 | -89.1% |
| Trade debts | 44 | €1,668 | €182 | -€1,486 | -89.1% |
| Suppliers | 440/4 | €1,668 | €182 | -€1,486 | -89.1% |
| Gross operating margin | 9900 | -€113,207 | -€93,716 | +€19,491 | +17.2% |
| Operating profit (loss) | 9901 | -€113,207 | -€93,716 | +€19,491 | +17.2% |
| Financial income | 75/76B | €163,384 | €219,400 | +€56,016 | +34.3% |
| Recurring financial income | 75 | €163,384 | €219,400 | +€56,016 | +34.3% |
| Financial charges | 65/66B | -€23,399 | €12,939 | +€36,338 | |
| Recurring financial charges | 65 | -€23,399 | €12,939 | +€36,338 | |
| Profit (loss) for the period before taxes | 9903 | €73,577 | €112,745 | +€39,169 | +53.2% |
| Income taxes | 67/77 | €13,976 | €40,377 | +€26,402 | +188.9% |
| Profit (loss) for the period | 9904 | €59,601 | €72,368 | +€12,767 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,601 | €72,368 | +€12,767 | +21.4% |
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.