CEMG: 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.
CEMG
Largest movements
- Receivables within one year +€112,016
up €112,016 (+62.1%), from €180,363 to €292,379
of which Trade receivables: +€102,753
- Cash +€69,576
up €69,576 (+269.8%), from €25,792 to €95,368
mainly Net result for the year (+€136,747) and Other debts (+€90,651)
- Tangible fixed assets -€16,012
down €16,012 (-4.3%), from €370,556 to €354,543
of which Leasing and similar rights: -€16,124
- Receivables after one year +€12,500
new in 2025: €12,500
- Other debts +€90,651
up €90,651 (+186.0%), from €48,743 to €139,394
- Trade debts +€75,217
up €75,217 (+578.0%), from €13,014 to €88,230
- Tax, wage and social debts +€53,121
up €53,121 (+203.8%), from €26,059 to €79,180
- Debts after one year -€35,591
down €35,591 (-20.7%), from €171,679 to €136,088
- Gross operating margin +€113,885
up €113,885 (+68.5%), from €166,299 to €280,184
- Taxes +€29,476
up €29,476 (+97.1%), from €30,361 to €59,838
- Depreciation +€29,443
up €29,443 (+130.4%), from €22,572 to €52,016
- Staff costs -€7,111
down €7,111 (-29.5%), from €24,129 to €17,019
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 | €586,099 | €772,601 | +€186,503 | +31.8% |
| Fixed assets | 21/28 | €370,556 | €359,793 | -€10,762 | -2.9% |
| Tangible fixed assets | 22/27 | €370,556 | €354,543 | -€16,012 | -4.3% |
| Land and buildings | 22 | €231,043 | €247,231 | +€16,188 | +7.0% |
| Plant, machinery and equipment | 23 | €34,190 | €26,797 | -€7,393 | -21.6% |
| Furniture and vehicles | 24 | €34,893 | €26,210 | -€8,683 | -24.9% |
| Leasing and similar rights | 25 | €70,430 | €54,306 | -€16,124 | -22.9% |
| Financial fixed assets | 28 | - | €5,250 | +€5,250 | |
| Current assets | 29/58 | €215,543 | €412,808 | +€197,265 | +91.5% |
| Amounts receivable after more than one year | 29 | - | €12,500 | +€12,500 | |
| Other amounts receivable | 291 | - | €12,500 | +€12,500 | |
| Amounts receivable within one year | 40/41 | €180,363 | €292,379 | +€112,016 | +62.1% |
| Trade receivables | 40 | €123,609 | €226,362 | +€102,753 | +83.1% |
| Other amounts receivable | 41 | €56,754 | €66,017 | +€9,264 | +16.3% |
| Cash at bank and in hand | 54/58 | €25,792 | €95,368 | +€69,576 | +269.8% |
| Deferred charges and accrued income | 490/1 | €9,388 | €12,561 | +€3,173 | +33.8% |
| Total equity and liabilities | 10/49 | €586,099 | €772,601 | +€186,503 | +31.8% |
| Equity | 10/15 | €291,874 | €292,391 | +€517 | +0.2% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €272,075 | €270,845 | -€1,230 | -0.5% |
| Distributable reserves | 133 | €272,075 | €270,845 | -€1,230 | -0.5% |
| Profit (loss) carried forward | 14 | €1,049 | €2,796 | +€1,747 | +166.6% |
| Amounts payable | 17/49 | €294,225 | €480,211 | +€185,986 | +63.2% |
| Amounts payable after more than one year | 17 | €171,679 | €136,088 | -€35,591 | -20.7% |
| Financial debts | 170/4 | €171,679 | €136,088 | -€35,591 | -20.7% |
| Amounts payable within one year | 42/48 | €121,609 | €343,297 | +€221,689 | +182.3% |
| Current portion of amounts payable after more than one year | 42 | €33,793 | €36,493 | +€2,700 | +8.0% |
| Trade debts | 44 | €13,014 | €88,230 | +€75,217 | +578.0% |
| Suppliers | 440/4 | €13,014 | €88,230 | +€75,217 | +578.0% |
| Taxes, remuneration and social security | 45 | €26,059 | €79,180 | +€53,121 | +203.8% |
| Taxes | 450/3 | €26,059 | €79,180 | +€53,121 | +203.8% |
| Other amounts payable | 47/48 | €48,743 | €139,394 | +€90,651 | +186.0% |
| Accrued charges and deferred income | 492/3 | €938 | €825 | -€113 | -12.0% |
| Remuneration, social security and pensions | 62 | €24,129 | €17,019 | -€7,111 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,572 | €52,016 | +€29,443 | +130.4% |
| Other operating charges | 640/8 | €1,782 | €4,189 | +€2,408 | +135.1% |
| Non-recurring operating charges | 66A | €260 | €580 | +€320 | +122.8% |
| Gross operating margin | 9900 | €166,299 | €280,184 | +€113,885 | +68.5% |
| Operating profit (loss) | 9901 | €117,556 | €206,380 | +€88,825 | +75.6% |
| Financial income | 75/76B | €2,688 | €3,350 | +€662 | +24.6% |
| Recurring financial income | 75 | €2,688 | €3,350 | +€662 | +24.6% |
| Financial charges | 65/66B | €10,789 | €13,145 | +€2,356 | +21.8% |
| Recurring financial charges | 65 | €10,789 | €13,145 | +€2,356 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €109,454 | €196,585 | +€87,131 | +79.6% |
| Income taxes | 67/77 | €30,361 | €59,838 | +€29,476 | +97.1% |
| Profit (loss) for the period | 9904 | €79,093 | €136,747 | +€57,654 | +72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €79,093 | €136,747 | +€57,654 | +72.9% |
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 11 October 2026 via checked.be.