CONEMPHAR: 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.
CONEMPHAR
Largest movements
- Cash +€39,173
up €39,173 (+53.9%), from €72,702 to €111,875
mainly Debts after one year (+€46,242) and Depreciation (+€27,803)
- Receivables after one year +€25,000
up €25,000 (+8.3%), from €300,000 to €325,000
- Receivables within one year +€18,486
up €18,486 (+20.6%), from €89,876 to €108,362
of which Trade receivables: +€15,151
- Debts after one year +€46,242
up €46,242 (+6.6%), from €697,738 to €743,980
of which Other amounts payable: +€100,000
- Other debts +€24,554
up €24,554 (+74.2%), from €33,112 to €57,666
- Depreciation -€30,284
down €30,284 (-52.1%), from €58,087 to €27,803
- Staff costs +€18,162
up €18,162 (+9.8%), from €186,103 to €204,265
- Gross operating margin -€12,310
down €12,310 (-4.3%), from €283,385 to €271,075
- Financial charges -€3,538
down €3,538 (-15.8%), from €22,369 to €18,831
- Taxes +€3,310
up €3,310 (+93.4%), from €3,546 to €6,856
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 | €1,277,275 | €1,360,086 | +€82,811 | +6.5% |
| Fixed assets | 21/28 | €650,138 | €643,796 | -€6,342 | -1.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €218,579 | €212,237 | -€6,342 | -2.9% |
| Land and buildings | 22 | €149,048 | €135,551 | -€13,497 | -9.1% |
| Plant, machinery and equipment | 23 | €18,453 | €14,182 | -€4,271 | -23.1% |
| Furniture and vehicles | 24 | €28,428 | €21,303 | -€7,124 | -25.1% |
| Other tangible fixed assets | 26 | €22,650 | €41,201 | +€18,551 | +81.9% |
| Financial fixed assets | 28 | €431,559 | €431,559 | = | 0.0% |
| Current assets | 29/58 | €627,137 | €716,290 | +€89,153 | +14.2% |
| Amounts receivable after more than one year | 29 | €300,000 | €325,000 | +€25,000 | +8.3% |
| Other amounts receivable | 291 | €300,000 | €325,000 | +€25,000 | +8.3% |
| Stocks and contracts in progress | 3 | €162,256 | €156,388 | -€5,867 | -3.6% |
| Stocks | 30/36 | €162,256 | €156,388 | -€5,867 | -3.6% |
| Amounts receivable within one year | 40/41 | €89,876 | €108,362 | +€18,486 | +20.6% |
| Trade receivables | 40 | €82,547 | €97,697 | +€15,151 | +18.4% |
| Other amounts receivable | 41 | €7,329 | €10,665 | +€3,336 | +45.5% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,702 | €111,875 | +€39,173 | +53.9% |
| Deferred charges and accrued income | 490/1 | €1,303 | €13,665 | +€12,362 | +948.5% |
| Total equity and liabilities | 10/49 | €1,277,275 | €1,360,086 | +€82,811 | +6.5% |
| Equity | 10/15 | €337,652 | €347,199 | +€9,547 | +2.8% |
| Contributions | 10/11 | €249,000 | €249,000 | = | 0.0% |
| Outside capital | 11 | €249,000 | - | -€249,000 | |
| Other | 1109/19 | €249,000 | - | -€249,000 | |
| Reserves | 13 | €88,652 | €98,199 | +€9,547 | +10.8% |
| Distributable reserves | 133 | €88,652 | €98,199 | +€9,547 | +10.8% |
| Amounts payable | 17/49 | €939,623 | €1,012,887 | +€73,264 | +7.8% |
| Amounts payable after more than one year | 17 | €697,738 | €743,980 | +€46,242 | +6.6% |
| Financial debts | 170/4 | €337,188 | €283,430 | -€53,758 | -15.9% |
| Other amounts payable | 178/9 | €360,550 | €460,550 | +€100,000 | +27.7% |
| Amounts payable within one year | 42/48 | €239,635 | €266,722 | +€27,087 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €53,453 | €53,758 | +€306 | +0.6% |
| Financial debts | 43 | €1,743 | €1,807 | +€64 | +3.7% |
| Credit institutions | 430/8 | €1,743 | €1,807 | +€64 | +3.7% |
| Trade debts | 44 | €102,688 | €96,449 | -€6,239 | -6.1% |
| Suppliers | 440/4 | €102,688 | €96,449 | -€6,239 | -6.1% |
| Taxes, remuneration and social security | 45 | €48,640 | €57,043 | +€8,403 | +17.3% |
| Taxes | 450/3 | €12,791 | €17,546 | +€4,755 | +37.2% |
| Remuneration and social security | 454/9 | €35,850 | €39,497 | +€3,648 | +10.2% |
| Other amounts payable | 47/48 | €33,112 | €57,666 | +€24,554 | +74.2% |
| Accrued charges and deferred income | 492/3 | €2,250 | €2,185 | -€65 | -2.9% |
| Remuneration, social security and pensions | 62 | €186,103 | €204,265 | +€18,162 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,087 | €27,803 | -€30,284 | -52.1% |
| Other operating charges | 640/8 | €5,528 | €4,048 | -€1,480 | -26.8% |
| Gross operating margin | 9900 | €283,385 | €271,075 | -€12,310 | -4.3% |
| Operating profit (loss) | 9901 | €33,667 | €34,960 | +€1,293 | +3.8% |
| Financial income | 75/76B | €446 | €274 | -€172 | -38.5% |
| Recurring financial income | 75 | €446 | €274 | -€172 | -38.5% |
| Financial charges | 65/66B | €22,369 | €18,831 | -€3,538 | -15.8% |
| Recurring financial charges | 65 | €22,369 | €18,831 | -€3,538 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €11,744 | €16,403 | +€4,659 | +39.7% |
| Income taxes | 67/77 | €3,546 | €6,856 | +€3,310 | +93.4% |
| Profit (loss) for the period | 9904 | €8,198 | €9,547 | +€1,349 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,198 | €9,547 | +€1,349 | +16.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.