CEMAF: 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.
CEMAF
Largest movements
- Tangible fixed assets -€23,900
down €23,900 (-10.3%), from €231,834 to €207,934
of which Land and buildings: -€14,590
- Receivables within one year +€9,167
up €9,167 (+4.9%), from €188,538 to €197,705
of which Other amounts receivable: +€12,131
- Cash +€4,318
up €4,318 (+197.8%), from €2,183 to €6,501
mainly Depreciation (+€23,900) and Net result for the year (+€19,652)
- Debts after one year -€30,364
down €30,364 (-39.9%), from €76,150 to €45,786
- Reserves +€19,000
up €19,000 (+27.1%), from €70,000 to €89,000
- Trade debts -€5,085
down €5,085 (-23.3%), from €21,839 to €16,754
- Gross operating margin -€30,058
down €30,058 (-35.9%), from €83,619 to €53,561
- Taxes -€6,955
down €6,955 (-38.8%), from €17,910 to €10,955
- Depreciation +€5,984
up €5,984 (+33.4%), from €17,916 to €23,900
- Financial charges -€902
down €902 (-13.2%), from €6,844 to €5,942
From the 30-06-2024 result to the 30-06-2025 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 30-06-2024 and 30-06-2025 balance sheets and the 30-06-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 30-06-2024 | 30-06-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €422,944 | €412,530 | -€10,415 | -2.5% |
| Fixed assets | 21/28 | €232,224 | €208,324 | -€23,900 | -10.3% |
| Tangible fixed assets | 22/27 | €231,834 | €207,934 | -€23,900 | -10.3% |
| Land and buildings | 22 | €189,898 | €175,308 | -€14,590 | -7.7% |
| Plant, machinery and equipment | 23 | €4,859 | €3,849 | -€1,010 | -20.8% |
| Furniture and vehicles | 24 | €37,078 | €28,778 | -€8,300 | -22.4% |
| Financial fixed assets | 28 | €390 | €390 | = | 0.0% |
| Current assets | 29/58 | €190,720 | €204,205 | +€13,485 | +7.1% |
| Amounts receivable within one year | 40/41 | €188,538 | €197,705 | +€9,167 | +4.9% |
| Trade receivables | 40 | €26,899 | €23,936 | -€2,963 | -11.0% |
| Other amounts receivable | 41 | €161,638 | €173,769 | +€12,131 | +7.5% |
| Cash at bank and in hand | 54/58 | €2,183 | €6,501 | +€4,318 | +197.8% |
| Total equity and liabilities | 10/49 | €422,944 | €412,530 | -€10,415 | -2.5% |
| Equity | 10/15 | €265,689 | €285,342 | +€19,652 | +7.4% |
| Contributions | 10/11 | €14,480 | €14,480 | = | 0.0% |
| Reserves | 13 | €70,000 | €89,000 | +€19,000 | +27.1% |
| Distributable reserves | 133 | €70,000 | €89,000 | +€19,000 | +27.1% |
| Profit (loss) carried forward | 14 | €181,209 | €181,862 | +€652 | +0.4% |
| Amounts payable | 17/49 | €157,255 | €127,188 | -€30,067 | -19.1% |
| Amounts payable after more than one year | 17 | €76,150 | €45,786 | -€30,364 | -39.9% |
| Financial debts | 170/4 | €76,150 | €45,786 | -€30,364 | -39.9% |
| Amounts payable within one year | 42/48 | €81,105 | €81,403 | +€298 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €28,862 | €30,364 | +€1,502 | +5.2% |
| Trade debts | 44 | €21,839 | €16,754 | -€5,085 | -23.3% |
| Suppliers | 440/4 | €21,839 | €16,754 | -€5,085 | -23.3% |
| Taxes, remuneration and social security | 45 | €30,403 | €34,284 | +€3,881 | +12.8% |
| Taxes | 450/3 | €27,557 | €30,375 | +€2,819 | +10.2% |
| Remuneration and social security | 454/9 | €2,847 | €3,909 | +€1,062 | +37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,916 | €23,900 | +€5,984 | +33.4% |
| Other operating charges | 640/8 | €3,861 | €3,405 | -€456 | -11.8% |
| Gross operating margin | 9900 | €83,619 | €53,561 | -€30,058 | -35.9% |
| Operating profit (loss) | 9901 | €61,843 | €26,257 | -€35,586 | -57.5% |
| Financial income | 75/76B | €9,975 | €10,292 | +€317 | +3.2% |
| Recurring financial income | 75 | €9,975 | €10,292 | +€317 | +3.2% |
| Financial charges | 65/66B | €6,844 | €5,942 | -€902 | -13.2% |
| Recurring financial charges | 65 | €6,844 | €5,942 | -€902 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €64,974 | €30,608 | -€34,367 | -52.9% |
| Income taxes | 67/77 | €17,910 | €10,955 | -€6,955 | -38.8% |
| Profit (loss) for the period | 9904 | €47,064 | €19,652 | -€27,412 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,064 | €19,652 | -€27,412 | -58.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.