CEMAB: 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.
CEMAB
Largest movements
- Receivables within one year +€133,772
up €133,772 (+516%), from €25,925 to €159,697
of which Trade receivables: +€152,884
- Tangible fixed assets +€36,403
up €36,403 (+121%), from €30,009 to €66,412
of which Furniture and vehicles: +€33,265
- Cash +€27,342
up €27,342 (+46.3%), from €59,093 to €86,435
mainly Trade debts (+€98,773) and Net result for the year (+€68,477)
- Intangible fixed assets +€22,320
new in 2025: €22,320
- Trade debts +€98,773
up €98,773 (+282%), from €35,004 to €133,777
- Reserves +€68,477
up €68,477 (+129%), from €53,122 to €121,599
- Tax, wage and social debts +€40,891
up €40,891 (+1,480%), from €2,763 to €43,654
of which Taxes: +€41,067
- Debts after one year +€14,683
new in 2025: €14,683
- Gross operating margin +€163,111
up €163,111 (+527%), from €30,972 to €194,083
- Staff costs +€54,080
up €54,080 (+1,722%), from €3,141 to €57,221
- Taxes +€25,243
up €25,243 (+914%), from €2,762 to €28,006
- Depreciation +€16,605
up €16,605 (+119%), from €13,912 to €30,517
- Financial charges +€8,324
up €8,324 (+2,083%), from €400 to €8,724
of which Financial charges: +€8,330
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 | €121,526 | €343,965 | +€222,438 | +183% |
| Fixed assets | 21/28 | €30,059 | €88,781 | +€58,722 | +195% |
| Intangible fixed assets | 21 | - | €22,320 | +€22,320 | |
| Tangible fixed assets | 22/27 | €30,009 | €66,412 | +€36,403 | +121% |
| Plant, machinery and equipment | 23 | €23,310 | €23,915 | +€605 | +2.6% |
| Furniture and vehicles | 24 | €1,458 | €34,723 | +€33,265 | +2,282% |
| Leasing and similar rights | 25 | - | €3,523 | +€3,523 | |
| Other tangible fixed assets | 26 | €5,241 | €4,251 | -€990 | -18.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €91,468 | €255,184 | +€163,716 | +179% |
| Stocks and contracts in progress | 3 | €4,692 | €7,765 | +€3,073 | +65.5% |
| Stocks | 30/36 | €4,692 | €7,765 | +€3,073 | +65.5% |
| Amounts receivable within one year | 40/41 | €25,925 | €159,697 | +€133,772 | +516% |
| Trade receivables | 40 | €5,351 | €158,235 | +€152,884 | +2,857% |
| Other amounts receivable | 41 | €20,574 | €1,462 | -€19,112 | -92.9% |
| Cash at bank and in hand | 54/58 | €59,093 | €86,435 | +€27,342 | +46.3% |
| Deferred charges and accrued income | 490/1 | €1,758 | €1,286 | -€472 | -26.8% |
| Total equity and liabilities | 10/49 | €121,526 | €343,965 | +€222,438 | +183% |
| Equity | 10/15 | €71,722 | €140,199 | +€68,477 | +95.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,122 | €121,599 | +€68,477 | +129% |
| Distributable reserves | 133 | €53,122 | €121,599 | +€68,477 | +129% |
| Amounts payable | 17/49 | €49,805 | €203,766 | +€153,961 | +309% |
| Amounts payable after more than one year | 17 | - | €14,683 | +€14,683 | |
| Financial debts | 170/4 | - | €14,683 | +€14,683 | |
| Amounts payable within one year | 42/48 | €49,805 | €189,083 | +€139,278 | +280% |
| Current portion of amounts payable after more than one year | 42 | €7,588 | €6,120 | -€1,467 | -19.3% |
| Trade debts | 44 | €35,004 | €133,777 | +€98,773 | +282% |
| Suppliers | 440/4 | €35,004 | €133,777 | +€98,773 | +282% |
| Advances received on contracts in progress | 46 | €4,450 | €4,450 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,763 | €43,654 | +€40,891 | +1,480% |
| Taxes | 450/3 | €2,121 | €43,188 | +€41,067 | +1,936% |
| Remuneration and social security | 454/9 | €642 | €466 | -€176 | -27.4% |
| Other amounts payable | 47/48 | - | €1,081 | +€1,081 | |
| Remuneration, social security and pensions | 62 | €3,141 | €57,221 | +€54,080 | +1,722% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,912 | €30,517 | +€16,605 | +119% |
| Other operating charges | 640/8 | €1,143 | €1,542 | +€399 | +34.9% |
| Non-recurring operating charges | 66A | €1,540 | €118 | -€1,422 | -92.3% |
| Gross operating margin | 9900 | €30,972 | €194,083 | +€163,111 | +527% |
| Operating profit (loss) | 9901 | €11,236 | €104,685 | +€93,449 | +832% |
| Financial income | 75/76B | €1,516 | €521 | -€995 | -65.6% |
| Recurring financial income | 75 | €1,516 | €521 | -€995 | -65.6% |
| Financial charges | 65/66B | €400 | €8,724 | +€8,324 | +2,083% |
| Recurring financial charges | 65 | €394 | €8,724 | +€8,330 | +2,117% |
| Non-recurring financial charges | 66B | €6 | - | -€6 | |
| Profit (loss) for the period before taxes | 9903 | €12,353 | €96,483 | +€84,130 | +681% |
| Income taxes | 67/77 | €2,762 | €28,006 | +€25,243 | +914% |
| Profit (loss) for the period | 9904 | €9,591 | €68,477 | +€58,887 | +614% |
| Profit (loss) for the period to be appropriated | 9905 | €9,591 | €68,477 | +€58,887 | +614% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.