CEMA: 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.
CEMA
Largest movements
- Receivables within one year +€7,260
up €7,260 (+23.4%), from €31,043 to €38,304
of which Trade receivables: +€7,260
- Cash +€2,701
up €2,701 (+6.8%), from €39,543 to €42,243
mainly Trade debts (+€13,669) and Depreciation (+€1,644)
- Tangible fixed assets +€884
up €884 (+33.3%), from €2,654 to €3,538
of which Plant, machinery and equipment: +€2,366
- Trade debts +€13,669
up €13,669 (+157%), from €8,728 to €22,397
- Tax, wage and social debts -€2,394
down €2,394 (-80.2%), from €2,983 to €590
- Other debts -€1,000
no longer reported in 2025 (was €1,000)
- Profit (loss) carried forward +€993
up €993 (+4.0%), from €24,595 to €25,588
- Gross operating margin -€100,712
down €100,712 (-98.5%), from €102,196 to €1,484
- Staff costs -€60,395
no longer reported in 2025 (was €60,395)
- Taxes -€16,994
down €16,994, from €15,890 to -€1,103
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 | €73,488 | €84,756 | +€11,268 | +15.3% |
| Fixed assets | 21/28 | €2,654 | €3,538 | +€884 | +33.3% |
| Tangible fixed assets | 22/27 | €2,654 | €3,538 | +€884 | +33.3% |
| Plant, machinery and equipment | 23 | €157 | €2,523 | +€2,366 | +1,507% |
| Furniture and vehicles | 24 | €2,497 | €1,015 | -€1,482 | -59.4% |
| Current assets | 29/58 | €70,834 | €81,218 | +€10,384 | +14.7% |
| Amounts receivable within one year | 40/41 | €31,043 | €38,304 | +€7,260 | +23.4% |
| Trade receivables | 40 | €30,969 | €38,230 | +€7,260 | +23.4% |
| Other amounts receivable | 41 | €74 | €74 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,543 | €42,243 | +€2,701 | +6.8% |
| Deferred charges and accrued income | 490/1 | €248 | €671 | +€423 | +170% |
| Total equity and liabilities | 10/49 | €73,488 | €84,756 | +€11,268 | +15.3% |
| Equity | 10/15 | €60,764 | €61,757 | +€993 | +1.6% |
| Contributions | 10/11 | €245 | €245 | = | 0.0% |
| Reserves | 13 | €35,924 | €35,924 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25 | €25 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25 | €25 | = | 0.0% |
| Distributable reserves | 133 | €35,900 | €35,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,595 | €25,588 | +€993 | +4.0% |
| Amounts payable | 17/49 | €12,724 | €22,999 | +€10,275 | +80.8% |
| Amounts payable within one year | 42/48 | €12,712 | €22,987 | +€10,275 | +80.8% |
| Trade debts | 44 | €8,728 | €22,397 | +€13,669 | +157% |
| Suppliers | 440/4 | €8,728 | €22,397 | +€13,669 | +157% |
| Taxes, remuneration and social security | 45 | €2,983 | €590 | -€2,394 | -80.2% |
| Taxes | 450/3 | €2,983 | €590 | -€2,394 | -80.2% |
| Other amounts payable | 47/48 | €1,000 | - | -€1,000 | |
| Accrued charges and deferred income | 492/3 | €12 | €12 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €60,395 | - | -€60,395 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,716 | €1,644 | -€71 | -4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €80 | - | -€80 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €102,196 | €1,484 | -€100,712 | -98.5% |
| Operating profit (loss) | 9901 | €39,887 | -€280 | -€40,167 | |
| Financial income | 75/76B | €817 | €406 | -€411 | -50.3% |
| Recurring financial income | 75 | €817 | €406 | -€411 | -50.3% |
| Financial charges | 65/66B | €244 | €236 | -€8 | -3.4% |
| Recurring financial charges | 65 | €244 | €236 | -€8 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €40,460 | -€110 | -€40,571 | |
| Income taxes | 67/77 | €15,890 | -€1,103 | -€16,994 | |
| Profit (loss) for the period | 9904 | €24,570 | €993 | -€23,577 | -96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,570 | €993 | -€23,577 | -96.0% |
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 17 October 2026 via checked.be.