CEMA PASSION: 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 PASSION
Largest movements
- Tangible fixed assets -€21,171
down €21,171 (-10.8%), from €195,376 to €174,205
of which Land and buildings: -€14,121
- Stocks and contracts +€2,647
up €2,647 (+26.9%), from €9,854 to €12,501
- Debts after one year -€18,096
down €18,096 (-43.3%), from €41,768 to €23,672
- Profit (loss) carried forward -€5,451
down €5,451 (-5.7%), from €96,450 to €90,999
- Trade debts +€3,635
up €3,635 (+214%), from €1,700 to €5,336
- Gross operating margin -€62,801
down €62,801 (-38.9%), from €161,268 to €98,467
- Staff costs -€20,562
down €20,562 (-23.5%), from €87,374 to €66,813
- Taxes -€8,572
down €8,572 (-99.1%), from €8,653 to €81
- Depreciation +€2,400
up €2,400 (+10.2%), from €23,516 to €25,916
- Other operating charges +€1,883
up €1,883 (+35.8%), from €5,262 to €7,145
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 | €259,541 | €238,518 | -€21,023 | -8.1% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €196,491 | €175,320 | -€21,171 | -10.8% |
| Tangible fixed assets | 22/27 | €195,376 | €174,205 | -€21,171 | -10.8% |
| Land and buildings | 22 | €155,047 | €140,927 | -€14,121 | -9.1% |
| Plant, machinery and equipment | 23 | €32,129 | €26,815 | -€5,314 | -16.5% |
| Furniture and vehicles | 24 | €8,200 | €6,463 | -€1,737 | -21.2% |
| Financial fixed assets | 28 | €1,115 | €1,115 | = | 0.0% |
| Current assets | 29/58 | €63,050 | €63,198 | +€148 | +0.2% |
| Stocks and contracts in progress | 3 | €9,854 | €12,501 | +€2,647 | +26.9% |
| Stocks | 30/36 | €9,854 | €12,501 | +€2,647 | +26.9% |
| Amounts receivable within one year | 40/41 | €13,916 | €11,622 | -€2,294 | -16.5% |
| Trade receivables | 40 | €10,787 | €8,459 | -€2,328 | -21.6% |
| Other amounts receivable | 41 | €3,129 | €3,163 | +€34 | +1.1% |
| Cash at bank and in hand | 54/58 | €36,081 | €36,734 | +€654 | +1.8% |
| Deferred charges and accrued income | 490/1 | €3,199 | €2,341 | -€858 | -26.8% |
| Total equity and liabilities | 10/49 | €259,541 | €238,518 | -€21,023 | -8.1% |
| Equity | 10/15 | €166,721 | €161,270 | -€5,451 | -3.3% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €35,271 | €35,271 | = | 0.0% |
| Distributable reserves | 133 | €35,271 | €35,271 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,450 | €90,999 | -€5,451 | -5.7% |
| Amounts payable | 17/49 | €92,820 | €77,248 | -€15,572 | -16.8% |
| Amounts payable after more than one year | 17 | €41,768 | €23,672 | -€18,096 | -43.3% |
| Financial debts | 170/4 | €41,768 | €23,672 | -€18,096 | -43.3% |
| Amounts payable within one year | 42/48 | €48,602 | €51,126 | +€2,525 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €18,949 | €18,096 | -€853 | -4.5% |
| Trade debts | 44 | €1,700 | €5,336 | +€3,635 | +214% |
| Suppliers | 440/4 | €1,700 | €5,336 | +€3,635 | +214% |
| Taxes, remuneration and social security | 45 | €26,138 | €25,295 | -€842 | -3.2% |
| Taxes | 450/3 | €12,701 | €13,314 | +€613 | +4.8% |
| Remuneration and social security | 454/9 | €13,437 | €11,981 | -€1,456 | -10.8% |
| Other amounts payable | 47/48 | €1,814 | €2,399 | +€585 | +32.3% |
| Accrued charges and deferred income | 492/3 | €2,450 | €2,450 | = | 0.0% |
| Non-recurring operating income | 76A | - | €10,430 | +€10,430 | |
| Remuneration, social security and pensions | 62 | €87,374 | €66,813 | -€20,562 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,516 | €25,916 | +€2,400 | +10.2% |
| Other operating charges | 640/8 | €5,262 | €7,145 | +€1,883 | +35.8% |
| Gross operating margin | 9900 | €161,268 | €98,467 | -€62,801 | -38.9% |
| Operating profit (loss) | 9901 | €45,116 | -€1,406 | -€46,522 | |
| Financial income | 75/76B | €129 | €228 | +€99 | +76.9% |
| Recurring financial income | 75 | €129 | €228 | +€99 | +76.9% |
| Financial charges | 65/66B | €4,821 | €4,192 | -€630 | -13.1% |
| Recurring financial charges | 65 | €4,821 | €4,192 | -€630 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €40,424 | -€5,370 | -€45,794 | |
| Income taxes | 67/77 | €8,653 | €81 | -€8,572 | -99.1% |
| Profit (loss) for the period | 9904 | €31,771 | -€5,451 | -€37,222 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,771 | -€5,451 | -€37,222 |
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 24 October 2026 via checked.be.