Cemaco Consulting: 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.
Cemaco Consulting
Largest movements
- Current investments -€1.0m
down €1.0m (-53.5%), from €1.9m to €888,153
- Cash -€940,950
down €940,950 (-91.9%), from €1.0m to €82,389
mainly Contributions, distributions and other (-€3.1m) and Receivables within one year (-€25,515)
- Tangible fixed assets -€71,265
down €71,265 (-32.4%), from €220,078 to €148,813
- Reserves -€2.0m
down €2.0m (-66.4%), from €3.1m to €1.0m
- Financial charges +€170,037
up €170,037 (+4,065%), from €4,183 to €174,219
- Financial income +€102,424
up €102,424 (+54.6%), from €187,557 to €289,980
- Gross operating margin -€78,428
down €78,428 (-5.7%), from €1.4m to €1.3m
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 | €3,209,053 | €1,178,736 | -€2.0m | -63.3% |
| Fixed assets | 21/28 | €220,078 | €148,813 | -€71,265 | -32.4% |
| Tangible fixed assets | 22/27 | €220,078 | €148,813 | -€71,265 | -32.4% |
| Furniture and vehicles | 24 | €220,078 | €148,813 | -€71,265 | -32.4% |
| Current assets | 29/58 | €2,988,975 | €1,029,923 | -€2.0m | -65.5% |
| Amounts receivable after more than one year | 29 | €27,956 | €4,810 | -€23,146 | -82.8% |
| Trade receivables | 290 | €27,956 | €0 | -€27,956 | -100% |
| Other amounts receivable | 291 | - | €4,810 | +€4,810 | |
| Amounts receivable within one year | 40/41 | €26,403 | €51,918 | +€25,515 | +96.6% |
| Trade receivables | 40 | €0 | €14,520 | +€14,520 | |
| Other amounts receivable | 41 | €26,403 | €37,398 | +€10,995 | +41.6% |
| Current investments | 50/53 | €1,908,858 | €888,153 | -€1.0m | -53.5% |
| Cash at bank and in hand | 54/58 | €1,023,339 | €82,389 | -€940,950 | -91.9% |
| Deferred charges and accrued income | 490/1 | €2,420 | €2,654 | +€234 | +9.7% |
| Total equity and liabilities | 10/49 | €3,209,053 | €1,178,736 | -€2.0m | -63.3% |
| Equity | 10/15 | €3,090,682 | €1,041,231 | -€2.0m | -66.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,085,682 | €1,036,231 | -€2.0m | -66.4% |
| Distributable reserves | 133 | €3,085,682 | €1,036,231 | -€2.0m | -66.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €118,371 | €137,505 | +€19,135 | +16.2% |
| Amounts payable within one year | 42/48 | €116,321 | €133,474 | +€17,152 | +14.7% |
| Trade debts | 44 | €1,071 | €5,152 | +€4,082 | +381% |
| Suppliers | 440/4 | €1,071 | €5,152 | +€4,082 | +381% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €75,250 | €88,321 | +€13,071 | +17.4% |
| Taxes | 450/3 | €75,250 | €88,321 | +€13,071 | +17.4% |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,049 | €4,032 | +€1,982 | +96.7% |
| Non-recurring operating income | 76A | - | €11,028 | +€11,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,376 | €39,292 | -€5,084 | -11.5% |
| Other operating charges | 640/8 | €4,187 | €7,171 | +€2,984 | +71.3% |
| Gross operating margin | 9900 | €1,379,672 | €1,301,244 | -€78,428 | -5.7% |
| Operating profit (loss) | 9901 | €1,331,108 | €1,254,780 | -€76,328 | -5.7% |
| Financial income | 75/76B | €187,557 | €289,980 | +€102,424 | +54.6% |
| Recurring financial income | 75 | €187,557 | €289,980 | +€102,424 | +54.6% |
| Financial charges | 65/66B | €4,183 | €174,219 | +€170,037 | +4,065% |
| Recurring financial charges | 65 | €4,183 | €174,219 | +€170,037 | +4,065% |
| Profit (loss) for the period before taxes | 9903 | €1,514,482 | €1,370,541 | -€143,941 | -9.5% |
| Income taxes | 67/77 | €335,968 | €334,993 | -€975 | -0.3% |
| Profit (loss) for the period | 9904 | €1,178,514 | €1,035,548 | -€142,966 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,178,514 | €1,035,548 | -€142,966 | -12.1% |
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 20 October 2026 via checked.be.