CEDEMA: 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.
CEDEMA
Largest movements
- Tangible fixed assets -€20,174
down €20,174 (-7.7%), from €262,917 to €242,743
of which Land and buildings: -€16,682
- Debts after one year -€24,703
down €24,703 (-29.4%), from €84,139 to €59,437
- Current portion of long-term debt +€24,703
new in 2025: €24,703
- Short-term financial debts -€23,708
down €23,708 (-100%), from €23,708 to €0
- Reserves +€15,159
up €15,159 (+14.5%), from €104,627 to €119,785
of which Distributable reserves: +€15,159
- Gross operating margin +€3,473
up €3,473 (+9.5%), from €36,482 to €39,955
- Depreciation +€2,857
up €2,857 (+16.5%), from €17,317 to €20,174
- Taxes -€2,301
down €2,301 (-26.4%), from €8,700 to €6,399
- Other operating charges +€1,846
up €1,846 (+50.5%), from €3,657 to €5,502
- Financial income -€1,082
down €1,082 (-8.5%), from €12,754 to €11,672
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.
Derived cash bridge
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 | €487,322 | €474,993 | -€12,329 | -2.5% |
| Fixed assets | 21/28 | €262,917 | €242,743 | -€20,174 | -7.7% |
| Tangible fixed assets | 22/27 | €262,917 | €242,743 | -€20,174 | -7.7% |
| Land and buildings | 22 | €253,776 | €237,094 | -€16,682 | -6.6% |
| Furniture and vehicles | 24 | €9,142 | €5,649 | -€3,492 | -38.2% |
| Current assets | 29/58 | €224,405 | €232,250 | +€7,845 | +3.5% |
| Amounts receivable after more than one year | 29 | €213,125 | €217,649 | +€4,524 | +2.1% |
| Other amounts receivable | 291 | €213,125 | €217,649 | +€4,524 | +2.1% |
| Amounts receivable within one year | 40/41 | €9,700 | €9,700 | = | 0.0% |
| Trade receivables | 40 | €9,700 | €9,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,579 | €4,901 | +€3,321 | +210% |
| Total equity and liabilities | 10/49 | €487,322 | €474,993 | -€12,329 | -2.5% |
| Equity | 10/15 | €360,383 | €375,542 | +€15,159 | +4.2% |
| Contributions | 10/11 | €61,998 | €61,998 | = | 0.0% |
| Capital | 10 | €61,998 | €61,998 | = | 0.0% |
| Issued capital | 100 | €61,998 | €61,998 | = | 0.0% |
| Revaluation surpluses | 12 | €117,502 | €117,502 | = | 0.0% |
| Reserves | 13 | €104,627 | €119,785 | +€15,159 | +14.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €98,427 | €113,586 | +€15,159 | +15.4% |
| Profit (loss) carried forward | 14 | €76,257 | €76,257 | = | 0.0% |
| Amounts payable | 17/49 | €126,939 | €99,451 | -€27,487 | -21.7% |
| Amounts payable after more than one year | 17 | €84,139 | €59,437 | -€24,703 | -29.4% |
| Financial debts | 170/4 | €84,139 | €59,437 | -€24,703 | -29.4% |
| Amounts payable within one year | 42/48 | €42,799 | €40,015 | -€2,785 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | - | €24,703 | +€24,703 | |
| Financial debts | 43 | €23,708 | €0 | -€23,708 | -100% |
| Credit institutions | 430/8 | €23,708 | €0 | -€23,708 | -100% |
| Trade debts | 44 | €187 | €213 | +€26 | +13.6% |
| Suppliers | 440/4 | €187 | €213 | +€26 | +13.6% |
| Taxes, remuneration and social security | 45 | €18,904 | €15,100 | -€3,805 | -20.1% |
| Taxes | 450/3 | €18,904 | €15,100 | -€3,805 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,317 | €20,174 | +€2,857 | +16.5% |
| Other operating charges | 640/8 | €3,657 | €5,502 | +€1,846 | +50.5% |
| Gross operating margin | 9900 | €36,482 | €39,955 | +€3,473 | +9.5% |
| Operating profit (loss) | 9901 | €15,509 | €14,279 | -€1,230 | -7.9% |
| Financial income | 75/76B | €12,754 | €11,672 | -€1,082 | -8.5% |
| Recurring financial income | 75 | €12,754 | €11,672 | -€1,082 | -8.5% |
| Financial charges | 65/66B | €4,311 | €4,393 | +€82 | +1.9% |
| Recurring financial charges | 65 | €4,311 | €4,393 | +€82 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €23,952 | €21,558 | -€2,394 | -10.0% |
| Income taxes | 67/77 | €8,700 | €6,399 | -€2,301 | -26.4% |
| Profit (loss) for the period | 9904 | €15,252 | €15,159 | -€93 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,252 | €15,159 | -€93 | -0.6% |
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 26 October 2026 via checked.be.