C.E.M.: 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.
C.E.M.
Largest movements
- Cash +€958,049
up €958,049 (+260%), from €368,344 to €1.3m
mainly Net result for the year (+€889,986) and Investment in fixed assets (net) (+€69,519)
- Tangible fixed assets -€69,519
down €69,519 (-100%), from €69,519 to €0
of which Land and buildings: -€64,181
- Profit (loss) carried forward +€889,986
up €889,986 (+298%), from €298,624 to €1.2m
- Gross operating margin +€1.1m
up €1.1m (+1,858%), from €60,833 to €1.2m
- Taxes +€283,339
up €283,339 (+2,127%), from €13,320 to €296,659
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 | €450,542 | €1,331,419 | +€880,877 | +196% |
| Fixed assets | 21/28 | €69,519 | €0 | -€69,519 | -100% |
| Tangible fixed assets | 22/27 | €69,519 | €0 | -€69,519 | -100% |
| Land and buildings | 22 | €64,181 | €0 | -€64,181 | -100% |
| Plant, machinery and equipment | 23 | €5,338 | €0 | -€5,338 | -100% |
| Current assets | 29/58 | €381,023 | €1,331,419 | +€950,396 | +249% |
| Amounts receivable within one year | 40/41 | €8,360 | €3,611 | -€4,749 | -56.8% |
| Trade receivables | 40 | €7,630 | €0 | -€7,630 | -100% |
| Other amounts receivable | 41 | €730 | €3,611 | +€2,881 | +395% |
| Cash at bank and in hand | 54/58 | €368,344 | €1,326,392 | +€958,049 | +260% |
| Deferred charges and accrued income | 490/1 | €4,320 | €1,416 | -€2,904 | -67.2% |
| Total equity and liabilities | 10/49 | €450,542 | €1,331,419 | +€880,877 | +196% |
| Equity | 10/15 | €438,960 | €1,328,946 | +€889,986 | +203% |
| Contributions | 10/11 | €127,579 | €127,579 | = | 0.0% |
| Capital | 10 | €127,579 | €127,579 | = | 0.0% |
| Issued capital | 100 | €127,579 | €127,579 | = | 0.0% |
| Reserves | 13 | €12,758 | €12,758 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,758 | €12,758 | = | 0.0% |
| Legal reserve | 130 | €12,758 | €12,758 | = | 0.0% |
| Profit (loss) carried forward | 14 | €298,624 | €1,188,610 | +€889,986 | +298% |
| Amounts payable | 17/49 | €11,582 | €2,472 | -€9,110 | -78.7% |
| Amounts payable within one year | 42/48 | €3,037 | €2,472 | -€564 | -18.6% |
| Trade debts | 44 | €0 | €2,472 | +€2,472 | |
| Suppliers | 440/4 | €0 | €2,472 | +€2,472 | |
| Taxes, remuneration and social security | 45 | €3,037 | €0 | -€3,037 | -100% |
| Taxes | 450/3 | €3,037 | €0 | -€3,037 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €8,545 | €0 | -€8,545 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,098 | €0 | -€1,098 | -100% |
| Other operating charges | 640/8 | €6,498 | €6,727 | +€228 | +3.5% |
| Gross operating margin | 9900 | €60,833 | €1,191,105 | +€1.1m | +1,858% |
| Operating profit (loss) | 9901 | €53,236 | €1,184,378 | +€1.1m | +2,125% |
| Financial income | 75/76B | €585 | €2,387 | +€1,802 | +308% |
| Recurring financial income | 75 | €585 | €2,387 | +€1,802 | +308% |
| Financial charges | 65/66B | €68 | €120 | +€53 | +77.6% |
| Recurring financial charges | 65 | €68 | €120 | +€53 | +77.6% |
| Profit (loss) for the period before taxes | 9903 | €53,754 | €1,186,645 | +€1.1m | +2,108% |
| Income taxes | 67/77 | €13,320 | €296,659 | +€283,339 | +2,127% |
| Profit (loss) for the period | 9904 | €40,433 | €889,986 | +€849,553 | +2,101% |
| Profit (loss) for the period to be appropriated | 9905 | €40,433 | €889,986 | +€849,553 | +2,101% |
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 27 October 2026 via checked.be.