CIEMAT: 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.
CIEMAT
Largest movements
- Tangible fixed assets -€844,155
down €844,155 (-64.5%), from €1.3m to €463,621
of which Land and buildings: -€831,661
- Cash +€434,249
up €434,249 (+142.4%), from €304,981 to €739,230
mainly Investment in fixed assets (net) (+€769,053) and Net result for the year (+€221,373)
- Debts after one year -€470,935
down €470,935 (-58.1%), from €811,178 to €340,243
- Reserves +€121,373
up €121,373 (+24.8%), from €489,303 to €610,677
- Current portion of long-term debt -€56,352
down €56,352 (-43.9%), from €128,380 to €72,028
- Tax, wage and social debts -€16,826
down €16,826 (-35.9%), from €46,879 to €30,053
- Gross operating margin +€71,298
up €71,298 (+20.9%), from €341,181 to €412,479
- Taxes +€8,623
up €8,623 (+12.9%), from €66,879 to €75,501
- Depreciation -€6,779
down €6,779 (-8.3%), from €81,880 to €75,101
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,617,107 | €1,204,622 | -€412,485 | -25.5% |
| Fixed assets | 21/28 | €1,308,809 | €464,654 | -€844,155 | -64.5% |
| Tangible fixed assets | 22/27 | €1,307,775 | €463,621 | -€844,155 | -64.5% |
| Land and buildings | 22 | €1,295,282 | €463,621 | -€831,661 | -64.2% |
| Plant, machinery and equipment | 23 | €1,158 | €0 | -€1,158 | -100.0% |
| Furniture and vehicles | 24 | €11,335 | €0 | -€11,335 | -100.0% |
| Financial fixed assets | 28 | €1,034 | €1,034 | = | 0.0% |
| Current assets | 29/58 | €308,298 | €739,968 | +€431,669 | +140.0% |
| Amounts receivable within one year | 40/41 | €3,317 | €0 | -€3,317 | -100.0% |
| Other amounts receivable | 41 | €3,317 | €0 | -€3,317 | -100.0% |
| Cash at bank and in hand | 54/58 | €304,981 | €739,230 | +€434,249 | +142.4% |
| Deferred charges and accrued income | 490/1 | - | €737 | +€737 | |
| Total equity and liabilities | 10/49 | €1,617,107 | €1,204,622 | -€412,485 | -25.5% |
| Equity | 10/15 | €589,303 | €710,677 | +€121,373 | +20.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €489,303 | €610,677 | +€121,373 | +24.8% |
| Distributable reserves | 133 | €489,303 | €610,677 | +€121,373 | +24.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,027,804 | €493,945 | -€533,859 | -51.9% |
| Amounts payable after more than one year | 17 | €811,178 | €340,243 | -€470,935 | -58.1% |
| Financial debts | 170/4 | €811,178 | €340,243 | -€470,935 | -58.1% |
| Amounts payable within one year | 42/48 | €215,626 | €153,703 | -€61,924 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €128,380 | €72,028 | -€56,352 | -43.9% |
| Trade debts | 44 | €8,831 | €10,568 | +€1,737 | +19.7% |
| Suppliers | 440/4 | €8,831 | €10,568 | +€1,737 | +19.7% |
| Taxes, remuneration and social security | 45 | €46,879 | €30,053 | -€16,826 | -35.9% |
| Taxes | 450/3 | €46,879 | €30,053 | -€16,826 | -35.9% |
| Other amounts payable | 47/48 | €31,537 | €41,053 | +€9,516 | +30.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €0 | -€1,000 | -100.0% |
| Non-recurring operating income | 76A | - | €15,201 | +€15,201 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,880 | €75,101 | -€6,779 | -8.3% |
| Other operating charges | 640/8 | €6,621 | €4,971 | -€1,650 | -24.9% |
| Gross operating margin | 9900 | €341,181 | €412,479 | +€71,298 | +20.9% |
| Operating profit (loss) | 9901 | €252,680 | €332,406 | +€79,726 | +31.6% |
| Financial income | 75/76B | €72 | €1,495 | +€1,423 | +1982.1% |
| Recurring financial income | 75 | €72 | €1,495 | +€1,423 | +1982.1% |
| Financial charges | 65/66B | €35,386 | €37,026 | +€1,640 | +4.6% |
| Recurring financial charges | 65 | €35,386 | €37,026 | +€1,640 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €217,365 | €296,875 | +€79,509 | +36.6% |
| Income taxes | 67/77 | €66,879 | €75,501 | +€8,623 | +12.9% |
| Profit (loss) for the period | 9904 | €150,487 | €221,373 | +€70,887 | +47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €150,487 | €221,373 | +€70,887 | +47.1% |
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 9 October 2026 via checked.be.