CEM23: 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.
CEM23
Largest movements
- Tangible fixed assets -€4,767
down €4,767 (-20.0%), from €23,837 to €19,070
- Receivables within one year +€1,547
up €1,547 (+315.5%), from €490 to €2,037
of which Trade receivables: +€2,037
- Formation expenses -€1,151
no longer reported in 2025 (was €1,151)
- Profit (loss) carried forward -€15,329
down €15,329, from €1,486 to -€13,844
- Other debts +€11,378
up €11,378 (+64.9%), from €17,537 to €28,915
- Tax, wage and social debts -€439
down €439 (-98.1%), from €448 to €9
- Purchases and services -€16,204
no longer reported in 2025 (was €16,204)
- Gross operating margin -€10,771
down €10,771, from €2,488 to -€8,283
- Depreciation +€5,918
new in 2025: €5,918
- Taxes -€527
down €527, from €439 to -€88
- Other operating charges +€525
up €525 (+106.4%), from €493 to €1,017
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 | €25,623 | €21,251 | -€4,373 | -17.1% |
| Formation expenses | 20 | €1,151 | - | -€1,151 | |
| Fixed assets | 21/28 | €23,837 | €19,070 | -€4,767 | -20.0% |
| Tangible fixed assets | 22/27 | €23,837 | €19,070 | -€4,767 | -20.0% |
| Furniture and vehicles | 24 | €23,837 | €19,070 | -€4,767 | -20.0% |
| Current assets | 29/58 | €635 | €2,181 | +€1,546 | +243.3% |
| Amounts receivable within one year | 40/41 | €490 | €2,037 | +€1,547 | +315.5% |
| Trade receivables | 40 | - | €2,037 | +€2,037 | |
| Other amounts receivable | 41 | €490 | - | -€490 | |
| Cash at bank and in hand | 54/58 | €145 | €18 | -€127 | -87.6% |
| Deferred charges and accrued income | 490/1 | - | €126 | +€126 | |
| Total equity and liabilities | 10/49 | €25,623 | €21,251 | -€4,373 | -17.1% |
| Equity | 10/15 | €6,486 | -€8,844 | -€15,329 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,486 | -€13,844 | -€15,329 | |
| Amounts payable | 17/49 | €19,137 | €30,094 | +€10,957 | +57.3% |
| Amounts payable within one year | 42/48 | €19,137 | €30,094 | +€10,957 | +57.3% |
| Trade debts | 44 | €1,153 | €1,170 | +€17 | +1.5% |
| Suppliers | 440/4 | €1,153 | €1,170 | +€17 | +1.5% |
| Taxes, remuneration and social security | 45 | €448 | €9 | -€439 | -98.1% |
| Taxes | 450/3 | €448 | €9 | -€439 | -98.1% |
| Other amounts payable | 47/48 | €17,537 | €28,915 | +€11,378 | +64.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €16,204 | - | -€16,204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,918 | +€5,918 | |
| Other operating charges | 640/8 | €493 | €1,017 | +€525 | +106.4% |
| Gross operating margin | 9900 | €2,488 | -€8,283 | -€10,771 | |
| Operating profit (loss) | 9901 | €1,995 | -€15,218 | -€17,213 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €70 | €199 | +€129 | +183.6% |
| Recurring financial charges | 65 | €70 | €199 | +€129 | +183.6% |
| Profit (loss) for the period before taxes | 9903 | €1,925 | -€15,417 | -€17,342 | |
| Income taxes | 67/77 | €439 | -€88 | -€527 | |
| Profit (loss) for the period | 9904 | €1,486 | -€15,329 | -€16,815 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,486 | -€15,329 | -€16,815 |
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 8 October 2026 via checked.be.