Cerimo: 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.
What changed
Cerimo
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.8m
2024 · €1.1m+€1.6m
Equity
€38.9m
2024 · €36.1m+€2.8m
Cash
€584,835
2024 · €352,344+€232,491
Balance sheet total
€45.3m
2024 · €48.2m-€2.9m
Largest movements
Assets
- Current investments -€3.8m
down €3.8m (-27.9%), from €13.6m to €9.8m
- Receivables within one year +€639,330
up €639,330 (+3.5%), from €18.4m to €19.0m
of which Other amounts receivable: +€638,817
Equity and liabilities
- Short-term financial debts -€5.6m
down €5.6m (-52.8%), from €10.6m to €5.0m
- Reserves +€2.9m
up €2.9m (+51.1%), from €5.7m to €8.5m
of which Distributable reserves: +€2.8m
Income statement
- Financial income +€1.4m
up €1.4m (+59.5%), from €2.3m to €3.7m
- Financial charges -€226,880
down €226,880 (-44.2%), from €512,776 to €285,896
- Taxes +€67,631
up €67,631 (+15.9%), from €426,040 to €493,671
- Gross operating margin +€66,344
up €66,344 (+74.0%), from €89,623 to €155,967
- Depreciation -€23,835
down €23,835 (-7.4%), from €320,793 to €296,958
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.
Result 2024
€1.1m
Gross operating margin
+€66,344
Depreciation
+€23,835
Other operating charges
+€6,528
Financial income
+€1.4m
Financial charges
+€226,880
Taxes
-€67,631
Result 2025
€2.8m
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.
From operations
+€2.1m
Investment
+€3.8m
Financing
-€5.6m
Cash 2024
€352,344
From operations (derived)
+€2.1m
Net result for the year
+€2.8m
Depreciation
+€296,958
Receivables after one year
-€362,699
Receivables within one year
-€639,330
Deferred charges and accrued income
+€50,574
Provisions
-€4,685
Trade debts
-€44,335
Tax, wage and social debts
+€58,801
Other debts
+€49,341
Accrued charges and deferred income
-€45,658
Investment (derived)
+€3.8m
Investment in fixed assets (net)
-€31,624
Current investments
+€3.8m
Financing
-€5.6m
Debts after one year
-€14,915
Current portion of long-term debt
-€28,494
Short-term financial debts
-€5.6m
Cash 2025
€584,835
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,174,409 | €45,295,409 | -€2.9m | -6.0% |
| Fixed assets | 21/28 | €13,739,492 | €13,474,158 | -€265,334 | -1.9% |
| Tangible fixed assets | 22/27 | €3,164,748 | €2,951,012 | -€213,736 | -6.8% |
| Land and buildings | 22 | €3,130,533 | €2,928,017 | -€202,515 | -6.5% |
| Furniture and vehicles | 24 | €25,593 | €14,500 | -€11,093 | -43.3% |
| Other tangible fixed assets | 26 | €8,623 | €8,495 | -€128 | -1.5% |
| Financial fixed assets | 28 | €10,574,743 | €10,523,146 | -€51,598 | -0.5% |
| Current assets | 29/58 | €34,434,917 | €31,821,251 | -€2.6m | -7.6% |
| Amounts receivable after more than one year | 29 | €1,365,580 | €1,728,279 | +€362,699 | +26.6% |
| Other amounts receivable | 291 | €1,365,580 | €1,728,279 | +€362,699 | +26.6% |
| Amounts receivable within one year | 40/41 | €18,393,718 | €19,033,049 | +€639,330 | +3.5% |
| Trade receivables | 40 | €1,179 | €1,692 | +€513 | +43.6% |
| Other amounts receivable | 41 | €18,392,539 | €19,031,357 | +€638,817 | +3.5% |
| Current investments | 50/53 | €13,593,581 | €9,795,967 | -€3.8m | -27.9% |
| Cash at bank and in hand | 54/58 | €352,344 | €584,835 | +€232,491 | +66.0% |
| Deferred charges and accrued income | 490/1 | €729,695 | €679,121 | -€50,574 | -6.9% |
| Total equity and liabilities | 10/49 | €48,174,409 | €45,295,409 | -€2.9m | -6.0% |
| Equity | 10/15 | €36,137,239 | €38,888,183 | +€2.8m | +7.6% |
| Contributions | 10/11 | €14,094,800 | €14,094,800 | = | 0.0% |
| Capital | 10 | €14,094,800 | €14,094,800 | = | 0.0% |
| Issued capital | 100 | €14,094,800 | €14,094,800 | = | 0.0% |
| Reserves | 13 | €5,650,470 | €8,538,666 | +€2.9m | +51.1% |
| Non-distributable reserves | 130/1 | €1,047,566 | €1,185,816 | +€138,250 | +13.2% |
| Legal reserve | 130 | €1,047,379 | €1,185,629 | +€138,250 | +13.2% |
| Reserves not available under the articles | 1311 | €187 | €187 | = | 0.0% |
| Tax-exempt reserves | 132 | €301,904 | €287,850 | -€14,054 | -4.7% |
| Distributable reserves | 133 | €4,301,000 | €7,065,000 | +€2.8m | +64.3% |
| Profit (loss) carried forward | 14 | €16,391,969 | €16,254,718 | -€137,251 | -0.8% |
| Provisions and deferred taxes | 16 | €100,635 | €95,950 | -€4,685 | -4.7% |
| Deferred taxes | 168 | €100,635 | €95,950 | -€4,685 | -4.7% |
| Amounts payable | 17/49 | €11,936,535 | €6,311,275 | -€5.6m | -47.1% |
| Amounts payable after more than one year | 17 | €14,915 | - | -€14,915 | |
| Financial debts | 170/4 | €14,915 | - | -€14,915 | |
| Amounts payable within one year | 42/48 | €11,849,815 | €6,285,127 | -€5.6m | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €43,409 | €14,915 | -€28,494 | -65.6% |
| Financial debts | 43 | €10,600,000 | €5,000,000 | -€5.6m | -52.8% |
| Credit institutions | 430/8 | €10,600,000 | €5,000,000 | -€5.6m | -52.8% |
| Trade debts | 44 | €47,984 | €3,648 | -€44,335 | -92.4% |
| Suppliers | 440/4 | €47,984 | €3,648 | -€44,335 | -92.4% |
| Taxes, remuneration and social security | 45 | €173,949 | €232,750 | +€58,801 | +33.8% |
| Taxes | 450/3 | €173,949 | €232,750 | +€58,801 | +33.8% |
| Other amounts payable | 47/48 | €984,473 | €1,033,814 | +€49,341 | +5.0% |
| Accrued charges and deferred income | 492/3 | €71,806 | €26,148 | -€45,658 | -63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €320,793 | €296,958 | -€23,835 | -7.4% |
| Other operating charges | 640/8 | €39,823 | €33,295 | -€6,528 | -16.4% |
| Gross operating margin | 9900 | €89,623 | €155,967 | +€66,344 | +74.0% |
| Operating profit (loss) | 9901 | -€270,993 | -€174,286 | +€96,707 | +35.7% |
| Financial income | 75/76B | €2,320,462 | €3,700,112 | +€1.4m | +59.5% |
| Recurring financial income | 75 | €2,320,462 | €3,700,112 | +€1.4m | +59.5% |
| Financial charges | 65/66B | €512,776 | €285,896 | -€226,880 | -44.2% |
| Recurring financial charges | 65 | €512,776 | €285,896 | -€226,880 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €1,536,693 | €3,239,930 | +€1.7m | +110.8% |
| Transfer from deferred taxes | 780 | €4,685 | €4,685 | = | 0.0% |
| Income taxes | 67/77 | €426,040 | €493,671 | +€67,631 | +15.9% |
| Profit (loss) for the period | 9904 | €1,115,338 | €2,750,944 | +€1.6m | +146.6% |
| Transfer from tax-exempt reserves | 789 | €14,054 | €14,054 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,129,392 | €2,764,999 | +€1.6m | +144.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.