CEMAVI: 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.
CEMAVI
Largest movements
- Cash +€112,622
up €112,622 (+26.3%), from €429,006 to €541,628
mainly Net result for the year (+€67,154) and Depreciation (+€24,174)
- Tangible fixed assets -€24,174
down €24,174 (-23.0%), from €105,030 to €80,856
- Receivables within one year -€18,045
down €18,045 (-23.1%), from €78,169 to €60,124
of which Trade receivables: -€18,169
- Reserves +€67,154
up €67,154 (+4.6%), from €1.5m to €1.5m
- Financial income -€285,328
down €285,328 (-99.1%), from €287,785 to €2,457
- Gross operating margin -€33,679
down €33,679 (-21.2%), from €159,089 to €125,410
- Taxes -€6,627
down €6,627 (-19.5%), from €33,939 to €27,312
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 | €1,629,839 | €1,701,963 | +€72,124 | +4.4% |
| Fixed assets | 21/28 | €968,615 | €944,441 | -€24,174 | -2.5% |
| Tangible fixed assets | 22/27 | €105,030 | €80,856 | -€24,174 | -23.0% |
| Furniture and vehicles | 24 | €105,030 | €80,856 | -€24,174 | -23.0% |
| Financial fixed assets | 28 | €863,585 | €863,585 | = | 0.0% |
| Current assets | 29/58 | €661,224 | €757,521 | +€96,297 | +14.6% |
| Amounts receivable within one year | 40/41 | €78,169 | €60,124 | -€18,045 | -23.1% |
| Trade receivables | 40 | €78,169 | €60,000 | -€18,169 | -23.2% |
| Other amounts receivable | 41 | - | €124 | +€124 | |
| Current investments | 50/53 | €154,049 | €155,769 | +€1,720 | +1.1% |
| Cash at bank and in hand | 54/58 | €429,006 | €541,628 | +€112,622 | +26.3% |
| Total equity and liabilities | 10/49 | €1,629,839 | €1,701,963 | +€72,124 | +4.4% |
| Equity | 10/15 | €1,487,254 | €1,554,408 | +€67,154 | +4.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,467,254 | €1,534,408 | +€67,154 | +4.6% |
| Distributable reserves | 133 | €1,467,254 | €1,534,408 | +€67,154 | +4.6% |
| Amounts payable | 17/49 | €142,585 | €147,555 | +€4,969 | +3.5% |
| Amounts payable within one year | 42/48 | €136,873 | €142,096 | +€5,223 | +3.8% |
| Trade debts | 44 | €3,363 | €2,799 | -€563 | -16.7% |
| Suppliers | 440/4 | €3,363 | €2,799 | -€563 | -16.7% |
| Taxes, remuneration and social security | 45 | €26,423 | €25,828 | -€595 | -2.3% |
| Taxes | 450/3 | €23,823 | €25,828 | +€2,005 | +8.4% |
| Remuneration and social security | 454/9 | €2,600 | - | -€2,600 | |
| Other amounts payable | 47/48 | €107,088 | €113,469 | +€6,381 | +6.0% |
| Accrued charges and deferred income | 492/3 | €5,712 | €5,458 | -€254 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,099 | €24,174 | +€75 | +0.3% |
| Other operating charges | 640/8 | €1,676 | €1,330 | -€347 | -20.7% |
| Gross operating margin | 9900 | €159,089 | €125,410 | -€33,679 | -21.2% |
| Operating profit (loss) | 9901 | €133,314 | €99,907 | -€33,407 | -25.1% |
| Financial income | 75/76B | €287,785 | €2,457 | -€285,328 | -99.1% |
| Recurring financial income | 75 | €287,785 | €2,457 | -€285,328 | -99.1% |
| Financial charges | 65/66B | €8,311 | €7,897 | -€414 | -5.0% |
| Recurring financial charges | 65 | €8,311 | €7,897 | -€414 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €412,788 | €94,466 | -€318,321 | -77.1% |
| Income taxes | 67/77 | €33,939 | €27,312 | -€6,627 | -19.5% |
| Profit (loss) for the period | 9904 | €378,849 | €67,154 | -€311,695 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €378,849 | €67,154 | -€311,695 | -82.3% |
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 26 October 2026 via checked.be.