CEMED: 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.
CEMED
Largest movements
- Cash -€141,311
down €141,311 (-59.2%), from €238,682 to €97,372
mainly Contributions, distributions and other (-€400,659) and Deferred charges and accrued income (-€32,337)
- Deferred charges and accrued income +€32,337
up €32,337 (+47.2%), from €68,467 to €100,804
- Tangible fixed assets -€11,670
down €11,670 (-26.4%), from €44,167 to €32,497
- Receivables within one year -€8,209
down €8,209 (-67.3%), from €12,197 to €3,987
- Profit (loss) carried forward -€208,909
down €208,909 (-90.5%), from €230,929 to €22,020
- Other debts +€77,450
up €77,450 (+86.2%), from €89,870 to €167,320
- Tax, wage and social debts +€9,710
up €9,710 (+56.3%), from €17,250 to €26,960
- Debts after one year -€7,650
down €7,650 (-49.0%), from €15,627 to €7,977
- Gross operating margin +€79,722
up €79,722 (+43.6%), from €182,827 to €262,549
- Taxes +€20,919
up €20,919 (+55.5%), from €37,678 to €58,597
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 | €363,513 | €234,660 | -€128,853 | -35.4% |
| Fixed assets | 21/28 | €44,167 | €32,497 | -€11,670 | -26.4% |
| Tangible fixed assets | 22/27 | €44,167 | €32,497 | -€11,670 | -26.4% |
| Furniture and vehicles | 24 | €44,167 | €32,497 | -€11,670 | -26.4% |
| Current assets | 29/58 | €319,346 | €202,163 | -€117,183 | -36.7% |
| Amounts receivable within one year | 40/41 | €12,197 | €3,987 | -€8,209 | -67.3% |
| Other amounts receivable | 41 | €12,197 | €3,987 | -€8,209 | -67.3% |
| Cash at bank and in hand | 54/58 | €238,682 | €97,372 | -€141,311 | -59.2% |
| Deferred charges and accrued income | 490/1 | €68,467 | €100,804 | +€32,337 | +47.2% |
| Total equity and liabilities | 10/49 | €363,513 | €234,660 | -€128,853 | -35.4% |
| Equity | 10/15 | €233,429 | €24,520 | -€208,909 | -89.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,929 | €22,020 | -€208,909 | -90.5% |
| Amounts payable | 17/49 | €130,084 | €210,140 | +€80,056 | +61.5% |
| Amounts payable after more than one year | 17 | €15,627 | €7,977 | -€7,650 | -49.0% |
| Financial debts | 170/4 | €15,627 | €7,977 | -€7,650 | -49.0% |
| Amounts payable within one year | 42/48 | €114,457 | €202,163 | +€87,706 | +76.6% |
| Current portion of amounts payable after more than one year | 42 | €7,337 | €7,650 | +€313 | +4.3% |
| Trade debts | 44 | - | €233 | +€233 | |
| Suppliers | 440/4 | - | €233 | +€233 | |
| Taxes, remuneration and social security | 45 | €17,250 | €26,960 | +€9,710 | +56.3% |
| Taxes | 450/3 | €17,250 | €26,960 | +€9,710 | +56.3% |
| Other amounts payable | 47/48 | €89,870 | €167,320 | +€77,450 | +86.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,670 | €11,670 | = | 0.0% |
| Other operating charges | 640/8 | €1,168 | €695 | -€473 | -40.5% |
| Gross operating margin | 9900 | €182,827 | €262,549 | +€79,722 | +43.6% |
| Operating profit (loss) | 9901 | €169,989 | €250,185 | +€80,195 | +47.2% |
| Financial income | 75/76B | - | €1,125 | +€1,125 | |
| Recurring financial income | 75 | - | €1,125 | +€1,125 | |
| Financial charges | 65/66B | €1,262 | €962 | -€300 | -23.8% |
| Recurring financial charges | 65 | €1,262 | €962 | -€300 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €168,727 | €250,347 | +€81,620 | +48.4% |
| Income taxes | 67/77 | €37,678 | €58,597 | +€20,919 | +55.5% |
| Profit (loss) for the period | 9904 | €131,049 | €191,750 | +€60,701 | +46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €131,049 | €191,750 | +€60,701 | +46.3% |
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 14 October 2026 via checked.be.