CEMES: 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.
CEMES
Largest movements
- Tangible fixed assets -€16,858
down €16,858 (-4.9%), from €341,790 to €324,932
- Receivables within one year +€13,117
up €13,117 (+91.2%), from €14,386 to €27,503
of which Trade receivables: +€14,400
- Current portion of long-term debt -€29,410
down €29,410 (-96.6%), from €30,435 to €1,025
- Reserves +€24,270
up €24,270 (+59.7%), from €40,627 to €64,897
of which Distributable reserves: +€24,270
- Tax, wage and social debts -€15,721
down €15,721 (-42.7%), from €36,813 to €21,092
of which Remuneration and social security: -€11,306
- Debts after one year +€5,435
up €5,435 (+2.1%), from €253,344 to €258,779
- Trade debts +€5,240
up €5,240 (+23.0%), from €22,815 to €28,055
- Gross operating margin -€16,381
down €16,381 (-8.5%), from €193,643 to €177,262
- Staff costs -€12,843
down €12,843 (-10.5%), from €122,852 to €110,009
- Financial charges -€5,688
down €5,688 (-47.7%), from €11,930 to €6,242
- Other operating charges -€2,292
down €2,292 (-64.7%), from €3,544 to €1,252
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 | €419,095 | €408,034 | -€11,061 | -2.6% |
| Fixed assets | 21/28 | €342,527 | €325,290 | -€17,237 | -5.0% |
| Intangible fixed assets | 21 | €738 | €358 | -€380 | -51.5% |
| Tangible fixed assets | 22/27 | €341,790 | €324,932 | -€16,858 | -4.9% |
| Land and buildings | 22 | €312,342 | €304,422 | -€7,920 | -2.5% |
| Plant, machinery and equipment | 23 | €783 | €19 | -€764 | -97.6% |
| Furniture and vehicles | 24 | €12,381 | €9,495 | -€2,886 | -23.3% |
| Leasing and similar rights | 25 | €16,284 | €10,996 | -€5,288 | -32.5% |
| Current assets | 29/58 | €76,568 | €82,744 | +€6,176 | +8.1% |
| Stocks and contracts in progress | 3 | €19,233 | €19,233 | -€0 | 0.0% |
| Stocks | 30/36 | €19,233 | €19,233 | -€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €14,386 | €27,503 | +€13,117 | +91.2% |
| Trade receivables | 40 | €11,109 | €25,509 | +€14,400 | +129.6% |
| Other amounts receivable | 41 | €3,277 | €1,994 | -€1,283 | -39.2% |
| Cash at bank and in hand | 54/58 | €39,683 | €36,008 | -€3,675 | -9.3% |
| Deferred charges and accrued income | 490/1 | €3,266 | - | -€3,266 | |
| Total equity and liabilities | 10/49 | €419,095 | €408,034 | -€11,061 | -2.6% |
| Equity | 10/15 | €59,177 | €83,447 | +€24,270 | +41.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €40,627 | €64,897 | +€24,270 | +59.7% |
| Tax-exempt reserves | 132 | €17,336 | €17,336 | -€0 | 0.0% |
| Distributable reserves | 133 | €23,291 | €47,561 | +€24,270 | +104.2% |
| Amounts payable | 17/49 | €359,919 | €324,587 | -€35,332 | -9.8% |
| Amounts payable after more than one year | 17 | €253,344 | €258,779 | +€5,435 | +2.1% |
| Financial debts | 170/4 | €253,344 | €258,779 | +€5,435 | +2.1% |
| Amounts payable within one year | 42/48 | €106,234 | €65,808 | -€40,426 | -38.1% |
| Current portion of amounts payable after more than one year | 42 | €30,435 | €1,025 | -€29,410 | -96.6% |
| Financial debts | 43 | €13,500 | €13,500 | = | 0.0% |
| Credit institutions | 430/8 | €13,500 | €13,500 | = | 0.0% |
| Trade debts | 44 | €22,815 | €28,055 | +€5,240 | +23.0% |
| Suppliers | 440/4 | €22,815 | €28,055 | +€5,240 | +23.0% |
| Advances received on contracts in progress | 46 | €1,071 | - | -€1,071 | |
| Taxes, remuneration and social security | 45 | €36,813 | €21,092 | -€15,721 | -42.7% |
| Taxes | 450/3 | €6,871 | €2,456 | -€4,415 | -64.3% |
| Remuneration and social security | 454/9 | €29,942 | €18,636 | -€11,306 | -37.8% |
| Other amounts payable | 47/48 | €1,600 | €2,136 | +€536 | +33.5% |
| Accrued charges and deferred income | 492/3 | €340 | - | -€340 | |
| Non-recurring operating income | 76A | - | €7,438 | +€7,438 | |
| Remuneration, social security and pensions | 62 | €122,852 | €110,009 | -€12,843 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,732 | €25,533 | -€199 | -0.8% |
| Other operating charges | 640/8 | €3,544 | €1,252 | -€2,292 | -64.7% |
| Gross operating margin | 9900 | €193,643 | €177,262 | -€16,381 | -8.5% |
| Operating profit (loss) | 9901 | €41,515 | €40,468 | -€1,047 | -2.5% |
| Financial income | 75/76B | €456 | - | -€456 | |
| Recurring financial income | 75 | €456 | - | -€456 | |
| Financial charges | 65/66B | €11,930 | €6,242 | -€5,688 | -47.7% |
| Recurring financial charges | 65 | €11,930 | €6,242 | -€5,688 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €30,041 | €34,226 | +€4,185 | +13.9% |
| Income taxes | 67/77 | €9,461 | €9,956 | +€495 | +5.2% |
| Profit (loss) for the period | 9904 | €20,580 | €24,270 | +€3,690 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,580 | €24,270 | +€3,690 | +17.9% |
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 5 October 2026 via checked.be.