CEM & EFE: 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 & EFE
Largest movements
- Receivables within one year -€137,303
down €137,303 (-65.7%), from €209,031 to €71,728
of which Trade receivables: -€78,290
- Tangible fixed assets -€9,647
down €9,647 (-15.8%), from €61,033 to €51,386
- Stocks and contracts -€5,000
down €5,000 (-32.6%), from €15,342 to €10,342
- Profit (loss) carried forward -€113,665
down €113,665 (-82.4%), from €137,878 to €24,213
- Trade debts -€33,202
down €33,202 (-66.5%), from €49,957 to €16,755
- Debts after one year -€16,456
down €16,456 (-35.7%), from €46,127 to €29,671
- Tax, wage and social debts +€8,949
up €8,949 (+38.5%), from €23,218 to €32,167
- Gross operating margin -€66,629
down €66,629 (-83.7%), from €79,559 to €12,930
- Taxes -€12,922
down €12,922 (-66.8%), from €19,357 to €6,435
- Financial charges +€4,088
up €4,088 (+104%), from €3,926 to €8,014
- Other operating charges +€2,480
up €2,480 (+34.0%), from €7,299 to €9,779
- Financial income -€1,763
no longer reported in 2024 (was €1,763)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €292,600 | €139,722 | -€152,878 | -52.2% |
| Fixed assets | 21/28 | €61,177 | €51,530 | -€9,647 | -15.8% |
| Tangible fixed assets | 22/27 | €61,033 | €51,386 | -€9,647 | -15.8% |
| Furniture and vehicles | 24 | €61,033 | €51,386 | -€9,647 | -15.8% |
| Financial fixed assets | 28 | €144 | €144 | = | 0.0% |
| Current assets | 29/58 | €231,423 | €88,192 | -€143,231 | -61.9% |
| Stocks and contracts in progress | 3 | €15,342 | €10,342 | -€5,000 | -32.6% |
| Stocks | 30/36 | €15,342 | €10,342 | -€5,000 | -32.6% |
| Amounts receivable within one year | 40/41 | €209,031 | €71,728 | -€137,303 | -65.7% |
| Trade receivables | 40 | €141,559 | €63,269 | -€78,290 | -55.3% |
| Other amounts receivable | 41 | €67,472 | €8,459 | -€59,013 | -87.5% |
| Cash at bank and in hand | 54/58 | €7,050 | €6,122 | -€928 | -13.2% |
| Total equity and liabilities | 10/49 | €292,600 | €139,722 | -€152,878 | -52.2% |
| Equity | 10/15 | €158,338 | €44,673 | -€113,665 | -71.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,878 | €24,213 | -€113,665 | -82.4% |
| Amounts payable | 17/49 | €134,262 | €95,049 | -€39,213 | -29.2% |
| Amounts payable after more than one year | 17 | €46,127 | €29,671 | -€16,456 | -35.7% |
| Financial debts | 170/4 | €46,127 | €29,671 | -€16,456 | -35.7% |
| Amounts payable within one year | 42/48 | €88,135 | €65,378 | -€22,757 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €14,960 | €16,456 | +€1,496 | +10.0% |
| Trade debts | 44 | €49,957 | €16,755 | -€33,202 | -66.5% |
| Suppliers | 440/4 | €49,957 | €16,755 | -€33,202 | -66.5% |
| Taxes, remuneration and social security | 45 | €23,218 | €32,167 | +€8,949 | +38.5% |
| Taxes | 450/3 | €23,218 | €32,167 | +€8,949 | +38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,290 | €17,367 | +€77 | +0.4% |
| Other operating charges | 640/8 | €7,299 | €9,779 | +€2,480 | +34.0% |
| Gross operating margin | 9900 | €79,559 | €12,930 | -€66,629 | -83.7% |
| Operating profit (loss) | 9901 | €54,970 | -€14,216 | -€69,186 | |
| Financial income | 75/76B | €1,763 | - | -€1,763 | |
| Recurring financial income | 75 | €1,763 | - | -€1,763 | |
| Financial charges | 65/66B | €3,926 | €8,014 | +€4,088 | +104% |
| Recurring financial charges | 65 | €3,926 | €8,014 | +€4,088 | +104% |
| Profit (loss) for the period before taxes | 9903 | €52,807 | -€22,230 | -€75,037 | |
| Income taxes | 67/77 | €19,357 | €6,435 | -€12,922 | -66.8% |
| Profit (loss) for the period | 9904 | €33,450 | -€28,665 | -€62,115 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,450 | -€28,665 | -€62,115 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.