CETEMI: what changed
CETEMI
Largest movements
- Cash +€30,610
up €30,610 (+13.3%), from €229,842 to €260,452
mainly Receivables within one year (+€24,883) and Depreciation (+€23,324)
- Receivables within one year -€24,883
down €24,883 (-23.3%), from €106,635 to €81,752
of which Trade receivables: -€26,602
- Tangible fixed assets -€19,263
down €19,263 (-12.8%), from €150,063 to €130,800
of which Land and buildings: -€12,843
- Contributions +€14,000
up €14,000 (+10.0%), from €140,000 to €154,000
- Reserves -€14,000
no longer reported in 2025 (was €14,000)
- Trade debts -€9,740
down €9,740 (-99.7%), from €9,771 to €31
- Investment grants -€7,554
down €7,554 (-14.3%), from €52,877 to €45,323
- Other debts +€6,051
up €6,051 (+39.8%), from €15,193 to €21,244
- Gross operating margin +€19,155
up €19,155 (+273%), from €7,028 to €26,183
- Turnover +€14,540
up €14,540 (+18.4%), from €79,202 to €93,742
- Purchases and services -€4,615
down €4,615 (-6.4%), from €72,174 to €67,559
- Depreciation +€2,202
up €2,202 (+10.4%), from €21,122 to €23,324
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,000 | €473,464 | -€13,536 | -2.8% |
| Fixed assets | 21/28 | €150,523 | €131,260 | -€19,263 | -12.8% |
| Tangible fixed assets | 22/27 | €150,063 | €130,800 | -€19,263 | -12.8% |
| Land and buildings | 22 | €99,548 | €86,706 | -€12,843 | -12.9% |
| Plant, machinery and equipment | 23 | €36,738 | €34,397 | -€2,342 | -6.4% |
| Furniture and vehicles | 24 | €13,777 | €9,698 | -€4,079 | -29.6% |
| Financial fixed assets | 28 | €460 | €460 | = | 0.0% |
| Current assets | 29/58 | €336,476 | €342,204 | +€5,727 | +1.7% |
| Amounts receivable within one year | 40/41 | €106,635 | €81,752 | -€24,883 | -23.3% |
| Trade receivables | 40 | €79,275 | €52,673 | -€26,602 | -33.6% |
| Other amounts receivable | 41 | €27,360 | €29,079 | +€1,719 | +6.3% |
| Cash at bank and in hand | 54/58 | €229,842 | €260,452 | +€30,610 | +13.3% |
| Total equity and liabilities | 10/49 | €487,000 | €473,464 | -€13,536 | -2.8% |
| Equity | 10/15 | €458,523 | €449,452 | -€9,071 | -2.0% |
| Contributions | 10/11 | €140,000 | €154,000 | +€14,000 | +10.0% |
| Reserves | 13 | €14,000 | - | -€14,000 | |
| Non-distributable reserves | 130/1 | €14,000 | - | -€14,000 | |
| Reserves not available under the articles | 1311 | €14,000 | - | -€14,000 | |
| Profit (loss) carried forward | 14 | €251,646 | €250,128 | -€1,518 | -0.6% |
| Investment grants | 15 | €52,877 | €45,323 | -€7,554 | -14.3% |
| Amounts payable | 17/49 | €28,476 | €24,012 | -€4,464 | -15.7% |
| Amounts payable within one year | 42/48 | €28,476 | €24,012 | -€4,464 | -15.7% |
| Trade debts | 44 | €9,771 | €31 | -€9,740 | -99.7% |
| Suppliers | 440/4 | €9,771 | €31 | -€9,740 | -99.7% |
| Taxes, remuneration and social security | 45 | €3,512 | €2,737 | -€775 | -22.1% |
| Taxes | 450/3 | €3,512 | €2,737 | -€775 | -22.1% |
| Other amounts payable | 47/48 | €15,193 | €21,244 | +€6,051 | +39.8% |
| Turnover | 70 | €79,202 | €93,742 | +€14,540 | +18.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €72,174 | €67,559 | -€4,615 | -6.4% |
| Remuneration, social security and pensions | 62 | €0 | €852 | +€852 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,122 | €23,324 | +€2,202 | +10.4% |
| Other operating charges | 640/8 | €3,585 | €3,791 | +€205 | +5.7% |
| Gross operating margin | 9900 | €7,028 | €26,183 | +€19,155 | +273% |
| Operating profit (loss) | 9901 | -€17,680 | -€1,784 | +€15,896 | +89.9% |
| Financial income | 75/76B | €1,740 | €1,159 | -€581 | -33.4% |
| Recurring financial income | 75 | €1,740 | €1,159 | -€581 | -33.4% |
| Financial charges | 65/66B | €553 | €817 | +€264 | +47.7% |
| Recurring financial charges | 65 | €553 | €817 | +€264 | +47.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,492 | -€1,441 | +€15,051 | +91.3% |
| Income taxes | 67/77 | €140 | €76 | -€63 | -45.3% |
| Profit (loss) for the period | 9904 | -€16,632 | -€1,518 | +€15,114 | +90.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,632 | -€1,518 | +€15,114 | +90.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.