CEM - KEM: 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 - KEM
Largest movements
- Receivables within one year +€158,919
up €158,919 (+41.9%), from €379,385 to €538,304
of which Trade receivables: +€158,919
- Cash +€84,577
up €84,577 (+911%), from €9,287 to €93,865
mainly Trade debts (+€129,322) and Net result for the year (+€109,700)
- Tangible fixed assets +€38,278
up €38,278 (+14.6%), from €261,606 to €299,884
of which Furniture and vehicles: +€28,678
- Trade debts +€129,322
up €129,322 (+334%), from €38,686 to €168,008
- Profit (loss) carried forward +€109,700
up €109,700 (+19.1%), from €573,661 to €683,361
- Short-term financial debts +€42,510
up €42,510 (+139%), from €30,604 to €73,115
- Debts after one year +€34,549
up €34,549 (+84.7%), from €40,813 to €75,362
- Tax, wage and social debts -€34,308
down €34,308 (-93.6%), from €36,648 to €2,341
- Turnover +€1.6m
new in 2025: €1.6m
- Purchases and services +€962,806
new in 2025: €962,806
- Gross operating margin +€244,930
up €244,930 (+55.7%), from €439,687 to €684,616
- Staff costs +€143,480
up €143,480 (+64.0%), from €224,142 to €367,622
- Financial income -€83,524
no longer reported in 2025 (was €83,524)
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 | €740,863 | €1,022,637 | +€281,774 | +38.0% |
| Fixed assets | 21/28 | €352,191 | €390,469 | +€38,278 | +10.9% |
| Tangible fixed assets | 22/27 | €261,606 | €299,884 | +€38,278 | +14.6% |
| Land and buildings | 22 | - | €9,600 | +€9,600 | |
| Plant, machinery and equipment | 23 | €2,355 | €2,355 | = | 0.0% |
| Furniture and vehicles | 24 | €259,251 | €287,929 | +€28,678 | +11.1% |
| Financial fixed assets | 28 | €90,585 | €90,585 | = | 0.0% |
| Current assets | 29/58 | €388,673 | €632,169 | +€243,496 | +62.6% |
| Amounts receivable within one year | 40/41 | €379,385 | €538,304 | +€158,919 | +41.9% |
| Trade receivables | 40 | €350,166 | €509,085 | +€158,919 | +45.4% |
| Other amounts receivable | 41 | €29,220 | €29,220 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,287 | €93,865 | +€84,577 | +911% |
| Total equity and liabilities | 10/49 | €740,863 | €1,022,637 | +€281,774 | +38.0% |
| Equity | 10/15 | €594,112 | €703,812 | +€109,700 | +18.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | - | €18,592 | +€18,592 | |
| Issued capital | 100 | - | €18,592 | +€18,592 | |
| Contributions outside capital | 11 | €18,592 | - | -€18,592 | |
| Share premium | 1100/10 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €573,661 | €683,361 | +€109,700 | +19.1% |
| Amounts payable | 17/49 | €146,751 | €318,825 | +€172,074 | +117% |
| Amounts payable after more than one year | 17 | €40,813 | €75,362 | +€34,549 | +84.7% |
| Financial debts | 170/4 | €40,813 | €75,362 | +€34,549 | +84.7% |
| Amounts payable within one year | 42/48 | €105,939 | €243,463 | +€137,525 | +130% |
| Financial debts | 43 | €30,604 | €73,115 | +€42,510 | +139% |
| Credit institutions | 430/8 | €30,604 | €73,115 | +€42,510 | +139% |
| Trade debts | 44 | €38,686 | €168,008 | +€129,322 | +334% |
| Suppliers | 440/4 | €38,686 | €168,008 | +€129,322 | +334% |
| Taxes, remuneration and social security | 45 | €36,648 | €2,341 | -€34,308 | -93.6% |
| Taxes | 450/3 | €36,648 | €2,341 | -€34,308 | -93.6% |
| Turnover | 70 | - | €1,647,422 | +€1.6m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €962,806 | +€962,806 | |
| Remuneration, social security and pensions | 62 | €224,142 | €367,622 | +€143,480 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,308 | €79,178 | +€24,870 | +45.8% |
| Other operating charges | 640/8 | €35,876 | €62,598 | +€26,722 | +74.5% |
| Gross operating margin | 9900 | €439,687 | €684,616 | +€244,930 | +55.7% |
| Operating profit (loss) | 9901 | €125,361 | €175,219 | +€49,858 | +39.8% |
| Financial income | 75/76B | €83,524 | - | -€83,524 | |
| Recurring financial income | 75 | €83,524 | - | -€83,524 | |
| Financial charges | 65/66B | €29,094 | €13,799 | -€15,295 | -52.6% |
| Recurring financial charges | 65 | €29,094 | €13,799 | -€15,295 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €179,791 | €161,420 | -€18,371 | -10.2% |
| Income taxes | 67/77 | €25,627 | €51,720 | +€26,093 | +102% |
| Profit (loss) for the period | 9904 | €154,165 | €109,700 | -€44,465 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €154,165 | €109,700 | -€44,465 | -28.8% |
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 23 October 2026 via checked.be.