CEPEM: 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.
CEPEM
Largest movements
- Cash -€48,189
down €48,189 (-89.8%), from €53,680 to €5,491
mainly Receivables within one year (-€31,162) and Contributions, distributions and other (-€28,524)
- Tangible fixed assets -€35,045
down €35,045 (-28.0%), from €125,324 to €90,280
of which Plant, machinery and equipment: -€21,049
- Receivables within one year +€31,162
up €31,162 (+42.3%), from €73,668 to €104,830
of which Other amounts receivable: +€42,157
- Stocks and contracts +€5,321
up €5,321 (+68.5%), from €7,774 to €13,095
- Debts after one year -€12,371
down €12,371 (-45.0%), from €27,464 to €15,092
- Trade debts -€10,472
down €10,472 (-18.8%), from €55,815 to €45,342
- Tax, wage and social debts -€7,452
down €7,452 (-75.6%), from €9,862 to €2,410
of which Taxes: -€9,862
- Current portion of long-term debt -€6,412
down €6,412 (-26.9%), from €23,841 to €17,429
- Reserves -€6,156
down €6,156 (-3.0%), from €207,981 to €201,825
- Staff costs +€46,882
new in 2025: €46,882
- Taxes -€11,180
down €11,180 (-50.0%), from €22,364 to €11,184
- Depreciation -€6,943
down €6,943 (-15.9%), from €43,647 to €36,704
- Other operating charges -€5,941
down €5,941 (-59.0%), from €10,064 to €4,123
- Financial income +€5,356
up €5,356 (+89,266%), from €6 to €5,362
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 | €338,835 | €294,806 | -€44,029 | -13.0% |
| Fixed assets | 21/28 | €125,380 | €90,327 | -€35,053 | -28.0% |
| Tangible fixed assets | 22/27 | €125,324 | €90,280 | -€35,045 | -28.0% |
| Land and buildings | 22 | €8,497 | €7,046 | -€1,451 | -17.1% |
| Plant, machinery and equipment | 23 | €70,235 | €49,187 | -€21,049 | -30.0% |
| Furniture and vehicles | 24 | €15,187 | €11,674 | -€3,514 | -23.1% |
| Leasing and similar rights | 25 | €31,405 | €22,373 | -€9,031 | -28.8% |
| Financial fixed assets | 28 | €56 | €47 | -€9 | -16.0% |
| Current assets | 29/58 | €213,455 | €204,479 | -€8,975 | -4.2% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €7,774 | €13,095 | +€5,321 | +68.5% |
| Stocks | 30/36 | €7,774 | €13,095 | +€5,321 | +68.5% |
| Amounts receivable within one year | 40/41 | €73,668 | €104,830 | +€31,162 | +42.3% |
| Trade receivables | 40 | €15,665 | €4,669 | -€10,995 | -70.2% |
| Other amounts receivable | 41 | €58,004 | €100,161 | +€42,157 | +72.7% |
| Cash at bank and in hand | 54/58 | €53,680 | €5,491 | -€48,189 | -89.8% |
| Deferred charges and accrued income | 490/1 | €3,333 | €6,064 | +€2,731 | +81.9% |
| Total equity and liabilities | 10/49 | €338,835 | €294,806 | -€44,029 | -13.0% |
| Equity | 10/15 | €220,688 | €214,532 | -€6,156 | -2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €207,981 | €201,825 | -€6,156 | -3.0% |
| Distributable reserves | 133 | €207,981 | €201,825 | -€6,156 | -3.0% |
| Profit (loss) carried forward | 14 | €6,507 | €6,507 | = | 0.0% |
| Amounts payable | 17/49 | €118,147 | €80,274 | -€37,873 | -32.1% |
| Amounts payable after more than one year | 17 | €27,464 | €15,092 | -€12,371 | -45.0% |
| Financial debts | 170/4 | €27,464 | €15,092 | -€12,371 | -45.0% |
| Amounts payable within one year | 42/48 | €90,683 | €65,182 | -€25,502 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €23,841 | €17,429 | -€6,412 | -26.9% |
| Trade debts | 44 | €55,815 | €45,342 | -€10,472 | -18.8% |
| Suppliers | 440/4 | €55,815 | €45,342 | -€10,472 | -18.8% |
| Taxes, remuneration and social security | 45 | €9,862 | €2,410 | -€7,452 | -75.6% |
| Taxes | 450/3 | €9,862 | - | -€9,862 | |
| Remuneration and social security | 454/9 | - | €2,410 | +€2,410 | |
| Other amounts payable | 47/48 | €1,166 | - | -€1,166 | |
| Remuneration, social security and pensions | 62 | - | €46,882 | +€46,882 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,647 | €36,704 | -€6,943 | -15.9% |
| Other operating charges | 640/8 | €10,064 | €4,123 | -€5,941 | -59.0% |
| Gross operating margin | 9900 | €117,890 | €118,135 | +€245 | +0.2% |
| Operating profit (loss) | 9901 | €64,179 | €30,425 | -€33,754 | -52.6% |
| Financial income | 75/76B | €6 | €5,362 | +€5,356 | +89,266% |
| Recurring financial income | 75 | €6 | €5,362 | +€5,356 | +89,266% |
| Financial charges | 65/66B | €3,067 | €2,235 | -€832 | -27.1% |
| Recurring financial charges | 65 | €3,067 | €2,235 | -€832 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €61,118 | €33,552 | -€27,566 | -45.1% |
| Income taxes | 67/77 | €22,364 | €11,184 | -€11,180 | -50.0% |
| Profit (loss) for the period | 9904 | €38,754 | €22,368 | -€16,386 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,754 | €22,368 | -€16,386 | -42.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.