CEZAM: 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.
What changed
CEZAM
NACE 22.230, Manufacture of rubber and plastic products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€860,739
2024 · -€1.9m+€1.1m
Equity
-€606,461
2024 · €254,278-€860,739
Cash
€4,392
2024 · €11,675-€7,283
Balance sheet total
€7.4m
2024 · €7.8m-€413,362
Largest movements
Assets
- Tangible fixed assets -€186,616
down €186,616 (-12.1%), from €1.5m to €1.4m
of which Land and buildings: -€105,295
- Receivables after one year -€171,251
down €171,251 (-20.9%), from €818,664 to €647,413
of which Other amounts receivable: -€171,251
Equity and liabilities
- Profit (loss) carried forward -€860,739
down €860,739 (-32.8%), from -€2.6m to -€3.5m
- Trade debts +€841,440
up €841,440 (+20.2%), from €4.2m to €5.0m
- Advances received -€298,911
down €298,911 (-77.0%), from €388,083 to €89,172
- Provisions -€109,103
down €109,103 (-20.6%), from €529,692 to €420,589
Income statement
- Turnover -€2.0m
down €2.0m (-14.7%), from €13.3m to €11.4m
- Goods and materials -€1.5m
down €1.5m (-13.0%), from €11.7m to €10.2m
of which Purchases: -€990,489
- Write-downs +€463,239
up €463,239 (+99.3%), from €466,449 to €929,688
- Other operating charges -€259,440
down €259,440 (-54.1%), from €479,664 to €220,225
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
-€1.9m
Turnover
-€2.0m
Other operating income
+€84,091
Goods and materials
+€1.5m
Services and other goods
+€121,070
Staff costs
-€52,456
Depreciation
+€61,164
Write-downs
-€463,239
Provisions
+€49,312
Other operating charges
+€259,440
Other operating items
+€1.4m
Financial income
+€42,026
Financial charges
+€75,134
Taxes
-€3,143
Result 2025
-€860,739
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
-€111,068
Investment
+€103,785
Financing
€0
Cash 2024
€11,675
From operations (derived)
-€111,068
Net result for the year
-€860,739
Depreciation
+€130,006
Receivables after one year
+€171,251
Smaller working-capital items
+€1,257
Provisions
-€109,103
Trade debts
+€841,440
Tax, wage and social debts
+€18,361
Advances received
-€298,911
Other debts
-€4,630
Investment (derived)
+€103,785
Investment in fixed assets (net)
+€103,785
Cash 2025
€4,392
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,791,627 | €7,378,265 | -€413,362 | -5.3% |
| Fixed assets | 21/28 | €2,142,838 | €1,909,047 | -€233,791 | -10.9% |
| Intangible fixed assets | 21 | €36,175 | - | -€36,175 | |
| Tangible fixed assets | 22/27 | €1,544,393 | €1,357,777 | -€186,616 | -12.1% |
| Land and buildings | 22 | €1,441,560 | €1,336,265 | -€105,295 | -7.3% |
| Plant, machinery and equipment | 23 | €59,290 | €1,056 | -€58,233 | -98.2% |
| Furniture and vehicles | 24 | €43,543 | €20,456 | -€23,088 | -53.0% |
| Financial fixed assets | 28 | €562,270 | €551,270 | -€11,000 | -2.0% |
| Affiliated companies | 280/1 | €561,000 | €550,000 | -€11,000 | -2.0% |
| Participating interests | 280 | €561,000 | €550,000 | -€11,000 | -2.0% |
| Other financial fixed assets | 284/8 | €1,270 | €1,270 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,270 | €1,270 | = | 0.0% |
| Current assets | 29/58 | €5,648,789 | €5,469,218 | -€179,571 | -3.2% |
| Amounts receivable after more than one year | 29 | €818,664 | €647,413 | -€171,251 | -20.9% |
| Trade receivables | 290 | €605,503 | €605,503 | = | 0.0% |
| Other amounts receivable | 291 | €213,161 | €41,910 | -€171,251 | -80.3% |
| Amounts receivable within one year | 40/41 | €4,809,659 | €4,807,526 | -€2,134 | 0.0% |
| Trade receivables | 40 | €4,774,733 | €4,567,501 | -€207,232 | -4.3% |
| Other amounts receivable | 41 | €34,927 | €240,025 | +€205,098 | +587.2% |
| Cash at bank and in hand | 54/58 | €11,675 | €4,392 | -€7,283 | -62.4% |
| Deferred charges and accrued income | 490/1 | €8,791 | €9,887 | +€1,097 | +12.5% |
| Total equity and liabilities | 10/49 | €7,791,627 | €7,378,265 | -€413,362 | -5.3% |
| Equity | 10/15 | €254,278 | -€606,461 | -€860,739 | |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €125,000 | €125,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €125,000 | €125,000 | = | 0.0% |
| Legal reserve | 130 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,620,722 | -€3,481,461 | -€860,739 | -32.8% |
| Provisions and deferred taxes | 16 | €529,692 | €420,589 | -€109,103 | -20.6% |
| Provisions for liabilities and charges | 160/5 | €529,692 | €420,589 | -€109,103 | -20.6% |
| Other liabilities and charges | 164/5 | €529,692 | €420,589 | -€109,103 | -20.6% |
| Amounts payable | 17/49 | €7,007,657 | €7,564,138 | +€556,480 | +7.9% |
| Amounts payable within one year | 42/48 | €7,007,657 | €7,563,918 | +€556,261 | +7.9% |
| Trade debts | 44 | €4,166,668 | €5,008,108 | +€841,440 | +20.2% |
| Suppliers | 440/4 | €4,166,668 | €5,008,108 | +€841,440 | +20.2% |
| Advances received on contracts in progress | 46 | €388,083 | €89,172 | -€298,911 | -77.0% |
| Taxes, remuneration and social security | 45 | €2,448,277 | €2,466,638 | +€18,361 | +0.7% |
| Taxes | 450/3 | €2,329,822 | €2,254,192 | -€75,629 | -3.2% |
| Remuneration and social security | 454/9 | €118,455 | €212,446 | +€93,991 | +79.3% |
| Other amounts payable | 47/48 | €4,630 | - | -€4,630 | |
| Accrued charges and deferred income | 492/3 | - | €220 | +€220 | |
| Operating income | 70/76A | €12,738,024 | €12,080,417 | -€657,608 | -5.2% |
| Turnover | 70 | €13,341,131 | €11,377,886 | -€2.0m | -14.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€762,088 | - | +€762,088 | |
| Other operating income | 74 | €127,209 | €211,301 | +€84,091 | +66.1% |
| Non-recurring operating income | 76A | €31,772 | €491,230 | +€459,458 | +1446.1% |
| Operating charges | 60/66A | €14,483,854 | €12,866,136 | -€1.6m | -11.2% |
| Goods for resale, raw materials and consumables | 60 | €11,679,094 | €10,166,413 | -€1.5m | -13.0% |
| Purchases | 600/8 | €11,156,902 | €10,166,413 | -€990,489 | -8.9% |
| Change in stocks: decrease (increase) | 609 | €522,192 | - | -€522,192 | |
| Services and other goods | 61 | €1,090,425 | €969,354 | -€121,070 | -11.1% |
| Remuneration, social security and pensions | 62 | €450,675 | €503,131 | +€52,456 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,170 | €130,006 | -€61,164 | -32.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €466,449 | €929,688 | +€463,239 | +99.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,481 | -€52,793 | -€49,312 | -1416.7% |
| Other operating charges | 640/8 | €479,664 | €220,225 | -€259,440 | -54.1% |
| Non-recurring operating charges | 66A | €129,858 | €113 | -€129,745 | -99.9% |
| Operating profit (loss) | 9901 | -€1,745,830 | -€785,719 | +€960,111 | +55.0% |
| Financial income | 75/76B | €8,410 | €50,436 | +€42,026 | +499.7% |
| Recurring financial income | 75 | €8,410 | €50,436 | +€42,026 | +499.7% |
| Income from financial fixed assets | 750 | - | €3,749 | +€3,749 | |
| Income from current assets | 751 | €6,288 | €13,337 | +€7,049 | +112.1% |
| Other financial income | 752/9 | €2,122 | €33,350 | +€31,227 | +1471.4% |
| Financial charges | 65/66B | €199,392 | €124,258 | -€75,134 | -37.7% |
| Recurring financial charges | 65 | €99,392 | €84,117 | -€15,275 | -15.4% |
| Debt charges | 650 | €33,209 | €29,588 | -€3,621 | -10.9% |
| Other financial charges | 652/9 | €66,183 | €54,529 | -€11,654 | -17.6% |
| Non-recurring financial charges | 66B | €100,000 | €40,141 | -€59,859 | -59.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,936,811 | -€859,541 | +€1.1m | +55.6% |
| Income taxes | 67/77 | -€1,946 | €1,198 | +€3,143 | |
| Taxes | 670/3 | €1,432 | €1,198 | -€234 | -16.4% |
| Tax adjustments and reversals of tax provisions | 77 | €3,378 | - | -€3,378 | |
| Profit (loss) for the period | 9904 | -€1,934,866 | -€860,739 | +€1.1m | +55.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,934,866 | -€860,739 | +€1.1m | +55.5% |
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.