CEMAGI: 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.
CEMAGI
Largest movements
- Current investments +€12,437
up €12,437 (+419.2%), from €2,967 to €15,404
- Tangible fixed assets -€9,586
down €9,586 (-3.1%), from €312,177 to €302,591
- Cash -€3,643
down €3,643 (-83.2%), from €4,380 to €737
mainly Current investments (-€12,437) and Debts after one year (-€6,000)
- Reserves +€7,500
up €7,500 (+4.2%), from €178,900 to €186,400
- Debts after one year -€6,000
no longer reported in 2025 (was €6,000)
- Accrued charges and deferred income -€4,759
down €4,759 (-62.3%), from €7,640 to €2,881
- Gross operating margin -€16,736
down €16,736 (-36.1%), from €46,333 to €29,597
- Taxes -€5,014
down €5,014 (-53.1%), from €9,436 to €4,422
- Financial charges -€2,223
down €2,223 (-50.8%), from €4,374 to €2,151
- Other operating charges +€560
up €560 (+21.0%), from €2,666 to €3,226
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.
Cash bridge derived
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 | €322,741 | €320,496 | -€2,245 | -0.7% |
| Fixed assets | 21/28 | €312,177 | €302,591 | -€9,586 | -3.1% |
| Tangible fixed assets | 22/27 | €312,177 | €302,591 | -€9,586 | -3.1% |
| Land and buildings | 22 | €312,177 | €302,591 | -€9,586 | -3.1% |
| Current assets | 29/58 | €10,564 | €17,905 | +€7,341 | +69.5% |
| Amounts receivable within one year | 40/41 | €3,217 | €1,764 | -€1,453 | -45.2% |
| Other amounts receivable | 41 | €3,217 | €1,764 | -€1,453 | -45.2% |
| Current investments | 50/53 | €2,967 | €15,404 | +€12,437 | +419.2% |
| Cash at bank and in hand | 54/58 | €4,380 | €737 | -€3,643 | -83.2% |
| Total equity and liabilities | 10/49 | €322,741 | €320,496 | -€2,245 | -0.7% |
| Equity | 10/15 | €274,993 | €285,259 | +€10,266 | +3.7% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €178,900 | €186,400 | +€7,500 | +4.2% |
| Distributable reserves | 133 | €178,900 | €186,400 | +€7,500 | +4.2% |
| Profit (loss) carried forward | 14 | €6,093 | €8,859 | +€2,766 | +45.4% |
| Amounts payable | 17/49 | €47,748 | €35,237 | -€12,511 | -26.2% |
| Amounts payable after more than one year | 17 | €6,000 | - | -€6,000 | |
| Other amounts payable | 178/9 | €6,000 | - | -€6,000 | |
| Amounts payable within one year | 42/48 | €34,108 | €32,356 | -€1,752 | -5.1% |
| Trade debts | 44 | - | €9 | +€9 | |
| Suppliers | 440/4 | - | €9 | +€9 | |
| Taxes, remuneration and social security | 45 | €424 | €424 | = | 0.0% |
| Taxes | 450/3 | €424 | €424 | = | 0.0% |
| Other amounts payable | 47/48 | €33,684 | €31,923 | -€1,761 | -5.2% |
| Accrued charges and deferred income | 492/3 | €7,640 | €2,881 | -€4,759 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,588 | €9,586 | -€2 | 0.0% |
| Other operating charges | 640/8 | €2,666 | €3,226 | +€560 | +21.0% |
| Gross operating margin | 9900 | €46,333 | €29,597 | -€16,736 | -36.1% |
| Operating profit (loss) | 9901 | €34,079 | €16,785 | -€17,294 | -50.7% |
| Financial income | 75/76B | €38 | €54 | +€16 | +42.1% |
| Recurring financial income | 75 | €38 | €54 | +€16 | +42.1% |
| Financial charges | 65/66B | €4,374 | €2,151 | -€2,223 | -50.8% |
| Recurring financial charges | 65 | €4,374 | €2,151 | -€2,223 | -50.8% |
| Profit (loss) for the period before taxes | 9903 | €29,743 | €14,688 | -€15,055 | -50.6% |
| Income taxes | 67/77 | €9,436 | €4,422 | -€5,014 | -53.1% |
| Profit (loss) for the period | 9904 | €20,307 | €10,266 | -€10,041 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,307 | €10,266 | -€10,041 | -49.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.