CEMREN: 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.
CEMREN
Largest movements
- Receivables within one year +€167,617
up €167,617 (+1,593%), from €10,523 to €178,140
- Cash -€101,795
down €101,795 (-76.1%), from €133,845 to €32,050
mainly Receivables within one year (-€167,617) and Tax, wage and social debts (-€1,500)
- Debts after one year +€38,340
new in 2025: €38,340
- Profit (loss) carried forward +€24,672
up €24,672 (+17.4%), from €141,613 to €166,285
- Trade debts +€3,389
up €3,389 (+74.0%), from €4,580 to €7,969
- Staff costs +€15,606
up €15,606 (+49.5%), from €31,546 to €47,152
- Gross operating margin +€15,133
up €15,133 (+20.8%), from €72,754 to €87,887
- Taxes -€11,211
down €11,211 (-60.2%), from €18,611 to €7,400
- Other operating charges +€6,584
up €6,584 (+1,254%), from €525 to €7,109
- Depreciation -€1,200
down €1,200 (-56.6%), from €2,121 to €921
From the 31-03-2025 result to the 31-12-2025 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 31-03-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-03-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,633 | €213,534 | +€64,901 | +43.7% |
| Fixed assets | 21/28 | €2,321 | €1,400 | -€921 | -39.7% |
| Tangible fixed assets | 22/27 | €921 | - | -€921 | |
| Plant, machinery and equipment | 23 | €404 | - | -€404 | |
| Furniture and vehicles | 24 | €517 | - | -€517 | |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €146,312 | €212,134 | +€65,822 | +45.0% |
| Stocks and contracts in progress | 3 | €1,944 | €1,944 | = | 0.0% |
| Stocks | 30/36 | €1,944 | €1,944 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,523 | €178,140 | +€167,617 | +1,593% |
| Other amounts receivable | 41 | €10,523 | €178,140 | +€167,617 | +1,593% |
| Cash at bank and in hand | 54/58 | €133,845 | €32,050 | -€101,795 | -76.1% |
| Total equity and liabilities | 10/49 | €148,633 | €213,534 | +€64,901 | +43.7% |
| Equity | 10/15 | €141,613 | €166,285 | +€24,672 | +17.4% |
| Profit (loss) carried forward | 14 | €141,613 | €166,285 | +€24,672 | +17.4% |
| Amounts payable | 17/49 | €7,020 | €47,249 | +€40,229 | +573% |
| Amounts payable after more than one year | 17 | - | €38,340 | +€38,340 | |
| Financial debts | 170/4 | - | €38,340 | +€38,340 | |
| Amounts payable within one year | 42/48 | €7,020 | €8,909 | +€1,889 | +26.9% |
| Trade debts | 44 | €4,580 | €7,969 | +€3,389 | +74.0% |
| Suppliers | 440/4 | €4,580 | €7,969 | +€3,389 | +74.0% |
| Taxes, remuneration and social security | 45 | €2,440 | €940 | -€1,500 | -61.5% |
| Taxes | 450/3 | - | €756 | +€756 | |
| Remuneration and social security | 454/9 | €2,440 | €184 | -€2,256 | -92.5% |
| Remuneration, social security and pensions | 62 | €31,546 | €47,152 | +€15,606 | +49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,121 | €921 | -€1,200 | -56.6% |
| Other operating charges | 640/8 | €525 | €7,109 | +€6,584 | +1,254% |
| Gross operating margin | 9900 | €72,754 | €87,887 | +€15,133 | +20.8% |
| Operating profit (loss) | 9901 | €38,562 | €32,705 | -€5,857 | -15.2% |
| Financial income | 75/76B | €80 | €3 | -€77 | -96.3% |
| Recurring financial income | 75 | €80 | €3 | -€77 | -96.3% |
| Financial charges | 65/66B | €61 | €636 | +€575 | +943% |
| Recurring financial charges | 65 | €61 | €636 | +€575 | +943% |
| Profit (loss) for the period before taxes | 9903 | €38,581 | €32,072 | -€6,509 | -16.9% |
| Income taxes | 67/77 | €18,611 | €7,400 | -€11,211 | -60.2% |
| Profit (loss) for the period | 9904 | €19,970 | €24,672 | +€4,702 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,970 | €24,672 | +€4,702 | +23.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.