CEGEDIM BELGIUM: 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.
CEGEDIM BELGIUM
Largest movements
- Financial fixed assets +€2.2m
up €2.2m (+21.4%), from €10.4m to €12.6m
- Cash +€562,586
up €562,586 (+133%), from €423,131 to €985,717
mainly Contributions, distributions and other (+€8.0m) and Accrued charges and deferred income (+€105,844)
- Contributions +€7.0m
up €7.0m (+702%), from €1.0m to €8.0m
- Other debts -€5.1m
down €5.1m (-53.1%), from €9.6m to €4.5m
- Profit (loss) carried forward +€841,056
up €841,056 (+86.0%), from -€978,022 to -€136,966
- Financial income +€222,288
new in 2025: €222,288
of which Financial income: +€222,288
- Financial charges +€32,421
up €32,421 (+11.2%), from €290,530 to €322,951
- Gross operating margin -€24,430
down €24,430 (-337%), from -€7,249 to -€31,679
- Other operating charges -€5,188
down €5,188 (-83.9%), from €6,187 to €998
- Depreciation -€5,076
down €5,076 (-58.3%), from €8,701 to €3,626
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.
Derived cash bridge
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 | €10,859,928 | €13,646,260 | +€2.8m | +25.7% |
| Fixed assets | 21/28 | €10,422,625 | €12,641,287 | +€2.2m | +21.3% |
| Tangible fixed assets | 22/27 | €20,358 | €16,733 | -€3,626 | -17.8% |
| Land and buildings | 22 | €20,358 | €16,733 | -€3,626 | -17.8% |
| Financial fixed assets | 28 | €10,402,266 | €12,624,555 | +€2.2m | +21.4% |
| Current assets | 29/58 | €437,303 | €1,004,973 | +€567,670 | +130% |
| Cash at bank and in hand | 54/58 | €423,131 | €985,717 | +€562,586 | +133% |
| Deferred charges and accrued income | 490/1 | €14,172 | €19,256 | +€5,084 | +35.9% |
| Total equity and liabilities | 10/49 | €10,859,928 | €13,646,260 | +€2.8m | +25.7% |
| Equity | 10/15 | €969,478 | €8,832,512 | +€7.9m | +811% |
| Contributions | 10/11 | €1,000,000 | €8,021,978 | +€7.0m | +702% |
| Capital | 10 | €1,000,000 | €8,021,978 | +€7.0m | +702% |
| Issued capital | 100 | €1,000,000 | €8,021,978 | +€7.0m | +702% |
| Reserves | 13 | €947,500 | €947,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €947,500 | €802,198 | -€145,302 | -15.3% |
| Legal reserve | 130 | €947,500 | €802,198 | -€145,302 | -15.3% |
| Distributable reserves | 133 | - | €145,302 | +€145,302 | |
| Profit (loss) carried forward | 14 | -€978,022 | -€136,966 | +€841,056 | +86.0% |
| Amounts payable | 17/49 | €9,890,450 | €4,813,748 | -€5.1m | -51.3% |
| Amounts payable within one year | 42/48 | €9,691,282 | €4,508,736 | -€5.2m | -53.5% |
| Trade debts | 44 | €100,928 | €12,390 | -€88,538 | -87.7% |
| Suppliers | 440/4 | €100,928 | €12,390 | -€88,538 | -87.7% |
| Other amounts payable | 47/48 | €9,590,354 | €4,496,346 | -€5.1m | -53.1% |
| Accrued charges and deferred income | 492/3 | €199,168 | €305,012 | +€105,844 | +53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,701 | €3,626 | -€5,076 | -58.3% |
| Other operating charges | 640/8 | €6,187 | €998 | -€5,188 | -83.9% |
| Gross operating margin | 9900 | -€7,249 | -€31,679 | -€24,430 | -337% |
| Operating profit (loss) | 9901 | -€22,137 | -€36,303 | -€14,166 | -64.0% |
| Financial income | 75/76B | - | €222,288 | +€222,288 | |
| Recurring financial income | 75 | - | €222,288 | +€222,288 | |
| Non-recurring financial income | 76B | - | €222,288 | +€222,288 | |
| Financial charges | 65/66B | €290,530 | €322,951 | +€32,421 | +11.2% |
| Recurring financial charges | 65 | €290,530 | €322,951 | +€32,421 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | -€312,667 | -€136,966 | +€175,701 | +56.2% |
| Profit (loss) for the period | 9904 | -€312,667 | -€136,966 | +€175,701 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€312,667 | -€136,966 | +€175,701 | +56.2% |
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 30 October 2026 via checked.be.