CEMENT: 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.
CEMENT
Largest movements
- Tangible fixed assets +€206,626
up €206,626 (+7.4%), from €2.8m to €3.0m
- Cash -€35,594
down €35,594 (-76.6%), from €46,475 to €10,881
mainly Investment in fixed assets (net) (-€304,181) and Debts after one year (-€96,624)
- Revaluation surpluses +€288,256
up €288,256 (+222.4%), from €129,637 to €417,892
- Debts after one year -€96,624
down €96,624 (-6.1%), from €1.6m to €1.5m
- Profit (loss) carried forward -€63,405
down €63,405 (-11.7%), from -€542,695 to -€606,100
- Contributions +€51,525
up €51,525 (+3.3%), from €1.6m to €1.6m
- Gross operating margin +€10,657
up €10,657 (+9.9%), from €107,292 to €117,949
- Financial charges -€6,179
down €6,179 (-10.3%), from €60,174 to €53,995
- Depreciation -€5,758
down €5,758 (-5.7%), from €101,563 to €95,805
- Other operating charges -€1,652
down €1,652 (-11.3%), from €14,601 to €12,948
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 | €2,870,226 | €3,050,547 | +€180,321 | +6.3% |
| Fixed assets | 21/28 | €2,789,643 | €2,998,019 | +€208,376 | +7.5% |
| Tangible fixed assets | 22/27 | €2,774,143 | €2,980,769 | +€206,626 | +7.4% |
| Land and buildings | 22 | €2,774,143 | €2,980,769 | +€206,626 | +7.4% |
| Financial fixed assets | 28 | €15,500 | €17,250 | +€1,750 | +11.3% |
| Current assets | 29/58 | €80,584 | €52,528 | -€28,055 | -34.8% |
| Amounts receivable within one year | 40/41 | €31,357 | €38,836 | +€7,480 | +23.9% |
| Trade receivables | 40 | €19,069 | €22,792 | +€3,723 | +19.5% |
| Other amounts receivable | 41 | €12,287 | €16,044 | +€3,757 | +30.6% |
| Cash at bank and in hand | 54/58 | €46,475 | €10,881 | -€35,594 | -76.6% |
| Deferred charges and accrued income | 490/1 | €2,752 | €2,811 | +€59 | +2.1% |
| Total equity and liabilities | 10/49 | €2,870,226 | €3,050,547 | +€180,321 | +6.3% |
| Equity | 10/15 | €1,172,683 | €1,453,679 | +€280,995 | +24.0% |
| Contributions | 10/11 | €1,576,125 | €1,627,650 | +€51,525 | +3.3% |
| Revaluation surpluses | 12 | €129,637 | €417,892 | +€288,256 | +222.4% |
| Reserves | 13 | €9,617 | €14,237 | +€4,620 | +48.0% |
| Distributable reserves | 133 | €9,617 | €14,237 | +€4,620 | +48.0% |
| Profit (loss) carried forward | 14 | -€542,695 | -€606,100 | -€63,405 | -11.7% |
| Amounts payable | 17/49 | €1,697,543 | €1,596,868 | -€100,675 | -5.9% |
| Amounts payable after more than one year | 17 | €1,589,406 | €1,492,782 | -€96,624 | -6.1% |
| Financial debts | 170/4 | €1,589,406 | €1,492,782 | -€96,624 | -6.1% |
| Amounts payable within one year | 42/48 | €89,825 | €99,561 | +€9,736 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €65,071 | €66,624 | +€1,553 | +2.4% |
| Trade debts | 44 | €24,754 | €32,937 | +€8,183 | +33.1% |
| Suppliers | 440/4 | €24,754 | €32,937 | +€8,183 | +33.1% |
| Accrued charges and deferred income | 492/3 | €18,312 | €4,525 | -€13,787 | -75.3% |
| Non-recurring operating income | 76A | €16,260 | €13,740 | -€2,520 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,563 | €95,805 | -€5,758 | -5.7% |
| Other operating charges | 640/8 | €14,601 | €12,948 | -€1,652 | -11.3% |
| Non-recurring operating charges | 66A | €16,260 | €18,605 | +€2,345 | +14.4% |
| Gross operating margin | 9900 | €107,292 | €117,949 | +€10,657 | +9.9% |
| Operating profit (loss) | 9901 | -€25,132 | -€9,409 | +€15,722 | +62.6% |
| Financial charges | 65/66B | €60,174 | €53,995 | -€6,179 | -10.3% |
| Recurring financial charges | 65 | €60,174 | €53,995 | -€6,179 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€85,306 | -€63,405 | +€21,901 | +25.7% |
| Profit (loss) for the period | 9904 | -€85,306 | -€63,405 | +€21,901 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€85,306 | -€63,405 | +€21,901 | +25.7% |
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 10 October 2026 via checked.be.