CEM CINAROGLU: 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.
CEM CINAROGLU
Largest movements
- Cash +€57,524
up €57,524 (+68.2%), from €84,343 to €141,866
mainly Net result for the year (+€60,913) and Other debts (+€2,425)
- Receivables within one year +€2,911
new in 2025: €2,911
- Profit (loss) carried forward +€60,080
up €60,080 (+89.2%), from €67,374 to €127,454
- Other debts +€2,425
up €2,425 (+371%), from €653 to €3,078
- Tax, wage and social debts -€1,656
down €1,656 (-9.4%), from €17,582 to €15,926
- Gross operating margin -€8,935
down €8,935 (-10.4%), from €85,819 to €76,884
- Taxes -€1,656
down €1,656 (-9.4%), from €17,582 to €15,926
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 | €87,348 | €149,131 | +€61,784 | +70.7% |
| Current assets | 29/58 | €87,348 | €149,131 | +€61,784 | +70.7% |
| Amounts receivable within one year | 40/41 | - | €2,911 | +€2,911 | |
| Trade receivables | 40 | - | €2,911 | +€2,911 | |
| Cash at bank and in hand | 54/58 | €84,343 | €141,866 | +€57,524 | +68.2% |
| Deferred charges and accrued income | 490/1 | €3,005 | €4,354 | +€1,348 | +44.9% |
| Total equity and liabilities | 10/49 | €87,348 | €149,131 | +€61,784 | +70.7% |
| Equity | 10/15 | €68,374 | €128,454 | +€60,080 | +87.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,374 | €127,454 | +€60,080 | +89.2% |
| Amounts payable | 17/49 | €18,974 | €20,677 | +€1,703 | +9.0% |
| Amounts payable within one year | 42/48 | €18,974 | €20,677 | +€1,703 | +9.0% |
| Trade debts | 44 | €739 | €1,673 | +€934 | +126% |
| Suppliers | 440/4 | €739 | €1,673 | +€934 | +126% |
| Taxes, remuneration and social security | 45 | €17,582 | €15,926 | -€1,656 | -9.4% |
| Taxes | 450/3 | €17,582 | €15,926 | -€1,656 | -9.4% |
| Other amounts payable | 47/48 | €653 | €3,078 | +€2,425 | +371% |
| Gross operating margin | 9900 | €85,819 | €76,884 | -€8,935 | -10.4% |
| Operating profit (loss) | 9901 | €85,819 | €76,884 | -€8,935 | -10.4% |
| Financial charges | 65/66B | €30 | €45 | +€15 | +50.0% |
| Recurring financial charges | 65 | €30 | €45 | +€15 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €85,789 | €76,839 | -€8,950 | -10.4% |
| Income taxes | 67/77 | €17,582 | €15,926 | -€1,656 | -9.4% |
| Profit (loss) for the period | 9904 | €68,207 | €60,913 | -€7,294 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,207 | €60,913 | -€7,294 | -10.7% |
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 13 October 2026 via checked.be.