CEMCO: 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.
CEMCO
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+50,304%), from €2,387 to €1.2m
of which Land and buildings: +€1.2m
- Cash +€68,269
up €68,269 (+117%), from €58,546 to €126,815
mainly Debts after one year (+€862,593) and Net result for the year (+€308,633)
- Receivables after one year -€41,428
down €41,428 (-48.2%), from €86,000 to €44,572
- Receivables within one year -€27,092
down €27,092 (-66.4%), from €40,775 to €13,683
- Debts after one year +€862,593
up €862,593 (+123,742%), from €697 to €863,290
- Profit (loss) carried forward +€208,633
up €208,633 (+9.0%), from -€2.3m to -€2.1m
- Reserves +€100,000
up €100,000 (+323%), from €30,965 to €130,965
- Trade debts +€60,640
new in 2025: €60,640
- Short-term financial debts -€35,724
down €35,724 (-89.3%), from €40,000 to €4,276
- Financial charges -€2.4m
down €2.4m (-98.7%), from €2.4m to €31,737
of which Non-recurring financial charges: -€2.4m
- Gross operating margin +€238,238
up €238,238 (+160%), from €148,441 to €386,679
- Depreciation +€28,717
up €28,717 (+7,199%), from €399 to €29,116
- Taxes -€27,630
down €27,630 (-73.2%), from €37,725 to €10,095
- Other operating charges +€7,566
up €7,566 (+754%), from €1,003 to €8,569
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 | €187,708 | €1,388,897 | +€1.2m | +640% |
| Fixed assets | 21/28 | €2,387 | €1,203,213 | +€1.2m | +50,304% |
| Tangible fixed assets | 22/27 | €2,387 | €1,203,213 | +€1.2m | +50,304% |
| Land and buildings | 22 | - | €1,177,605 | +€1.2m | |
| Furniture and vehicles | 24 | €2,387 | €25,607 | +€23,220 | +973% |
| Current assets | 29/58 | €185,321 | €185,684 | +€364 | +0.2% |
| Amounts receivable after more than one year | 29 | €86,000 | €44,572 | -€41,428 | -48.2% |
| Other amounts receivable | 291 | €86,000 | €44,572 | -€41,428 | -48.2% |
| Amounts receivable within one year | 40/41 | €40,775 | €13,683 | -€27,092 | -66.4% |
| Other amounts receivable | 41 | €40,775 | €13,683 | -€27,092 | -66.4% |
| Cash at bank and in hand | 54/58 | €58,546 | €126,815 | +€68,269 | +117% |
| Deferred charges and accrued income | 490/1 | - | €614 | +€614 | |
| Total equity and liabilities | 10/49 | €187,708 | €1,388,897 | +€1.2m | +640% |
| Equity | 10/15 | €136,338 | €444,971 | +€308,633 | +226% |
| Contributions | 10/11 | €2,418,592 | €2,418,592 | = | 0.0% |
| Contributions outside capital | 11 | €2,418,592 | €2,418,592 | = | 0.0% |
| Other | 1109/19 | €2,418,592 | €2,418,592 | = | 0.0% |
| Reserves | 13 | €30,965 | €130,965 | +€100,000 | +323% |
| Distributable reserves | 133 | €30,965 | €130,965 | +€100,000 | +323% |
| Profit (loss) carried forward | 14 | -€2,313,218 | -€2,104,586 | +€208,633 | +9.0% |
| Amounts payable | 17/49 | €51,370 | €943,926 | +€892,556 | +1,738% |
| Amounts payable after more than one year | 17 | €697 | €863,290 | +€862,593 | +123,742% |
| Financial debts | 170/4 | €697 | €863,290 | +€862,593 | +123,742% |
| Amounts payable within one year | 42/48 | €50,673 | €80,636 | +€29,963 | +59.1% |
| Financial debts | 43 | €40,000 | €4,276 | -€35,724 | -89.3% |
| Credit institutions | 430/8 | €40,000 | €4,276 | -€35,724 | -89.3% |
| Trade debts | 44 | - | €60,640 | +€60,640 | |
| Suppliers | 440/4 | - | €60,640 | +€60,640 | |
| Taxes, remuneration and social security | 45 | €9,518 | €14,471 | +€4,953 | +52.0% |
| Taxes | 450/3 | €9,518 | €14,471 | +€4,953 | +52.0% |
| Other amounts payable | 47/48 | €1,155 | €1,249 | +€94 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €399 | €29,116 | +€28,717 | +7,199% |
| Other operating charges | 640/8 | €1,003 | €8,569 | +€7,566 | +754% |
| Gross operating margin | 9900 | €148,441 | €386,679 | +€238,238 | +160% |
| Operating profit (loss) | 9901 | €147,039 | €348,993 | +€201,954 | +137% |
| Financial income | 75/76B | €603 | €1,472 | +€869 | +144% |
| Recurring financial income | 75 | €603 | €1,472 | +€869 | +144% |
| Financial charges | 65/66B | €2,400,389 | €31,737 | -€2.4m | -98.7% |
| Recurring financial charges | 65 | €393 | €31,737 | +€31,344 | +7,979% |
| Non-recurring financial charges | 66B | €2,399,996 | - | -€2.4m | |
| Profit (loss) for the period before taxes | 9903 | -€2,252,747 | €318,728 | +€2.6m | |
| Income taxes | 67/77 | €37,725 | €10,095 | -€27,630 | -73.2% |
| Profit (loss) for the period | 9904 | -€2,290,472 | €308,633 | +€2.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,290,472 | €308,633 | +€2.6m |
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 16 October 2026 via checked.be.