Alexis Ceuterick: what changed
Alexis Ceuterick
Largest movements
- Cash -€88,524
down €88,524 (-56.7%), from €156,122 to €67,599
mainly Contributions, distributions and other (-€86,942) and Investment in fixed assets (net) (-€86,271)
- Financial fixed assets +€67,500
new in 2026: €67,500
- Tangible fixed assets +€5,440
up €5,440 (+24.9%), from €21,869 to €27,310
of which Furniture and vehicles: +€5,101
- Reserves -€83,148
down €83,148 (-21.4%), from €389,097 to €305,949
- Debts after one year +€67,500
new in 2026: €67,500
- Other debts +€14,578
up €14,578 (+18.9%), from €77,282 to €91,860
- Tax, wage and social debts -€12,478
down €12,478 (-62.8%), from €19,873 to €7,395
of which Taxes: -€13,063
- Gross operating margin -€86,578
down €86,578 (-83.3%), from €103,957 to €17,379
- Taxes -€28,991
down €28,991 (-88.9%), from €32,604 to €3,612
- Financial income -€12,141
down €12,141 (-75.2%), from €16,152 to €4,011
- Financial charges -€10,770
down €10,770 (-99.3%), from €10,851 to €81
- Depreciation +€7,916
up €7,916 (+146%), from €5,414 to €13,330
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €501,709 | €489,145 | -€12,564 | -2.5% |
| Fixed assets | 21/28 | €21,869 | €94,810 | +€72,940 | +334% |
| Tangible fixed assets | 22/27 | €21,869 | €27,310 | +€5,440 | +24.9% |
| Plant, machinery and equipment | 23 | €1,009 | €2,771 | +€1,762 | +175% |
| Furniture and vehicles | 24 | €12,726 | €17,827 | +€5,101 | +40.1% |
| Other tangible fixed assets | 26 | €8,135 | €6,712 | -€1,423 | -17.5% |
| Financial fixed assets | 28 | - | €67,500 | +€67,500 | |
| Current assets | 29/58 | €479,840 | €394,336 | -€85,504 | -17.8% |
| Amounts receivable within one year | 40/41 | €3,392 | €2,496 | -€896 | -26.4% |
| Trade receivables | 40 | €392 | €71 | -€321 | -82.0% |
| Other amounts receivable | 41 | €3,000 | €2,425 | -€575 | -19.2% |
| Current investments | 50/53 | €312,735 | €312,735 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €156,122 | €67,599 | -€88,524 | -56.7% |
| Deferred charges and accrued income | 490/1 | €7,591 | €11,506 | +€3,916 | +51.6% |
| Total equity and liabilities | 10/49 | €501,709 | €489,145 | -€12,564 | -2.5% |
| Equity | 10/15 | €404,097 | €320,949 | -€83,148 | -20.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €389,097 | €305,949 | -€83,148 | -21.4% |
| Distributable reserves | 133 | €389,097 | €305,949 | -€83,148 | -21.4% |
| Amounts payable | 17/49 | €97,613 | €168,197 | +€70,584 | +72.3% |
| Amounts payable after more than one year | 17 | - | €67,500 | +€67,500 | |
| Financial debts | 170/4 | - | €67,500 | +€67,500 | |
| Amounts payable within one year | 42/48 | €97,613 | €100,697 | +€3,084 | +3.2% |
| Trade debts | 44 | €458 | €1,442 | +€984 | +215% |
| Suppliers | 440/4 | €458 | €1,442 | +€984 | +215% |
| Taxes, remuneration and social security | 45 | €19,873 | €7,395 | -€12,478 | -62.8% |
| Taxes | 450/3 | €19,873 | €6,810 | -€13,063 | -65.7% |
| Remuneration and social security | 454/9 | - | €585 | +€585 | |
| Other amounts payable | 47/48 | €77,282 | €91,860 | +€14,578 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,414 | €13,330 | +€7,916 | +146% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €179 | -€179 | -€357 | |
| Other operating charges | 640/8 | €733 | €751 | +€18 | +2.4% |
| Gross operating margin | 9900 | €103,957 | €17,379 | -€86,578 | -83.3% |
| Operating profit (loss) | 9901 | €97,631 | €3,476 | -€94,155 | -96.4% |
| Financial income | 75/76B | €16,152 | €4,011 | -€12,141 | -75.2% |
| Recurring financial income | 75 | €16,152 | €4,011 | -€12,141 | -75.2% |
| Financial charges | 65/66B | €10,851 | €81 | -€10,770 | -99.3% |
| Recurring financial charges | 65 | €10,851 | €81 | -€10,770 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | €102,933 | €7,406 | -€95,527 | -92.8% |
| Income taxes | 67/77 | €32,604 | €3,612 | -€28,991 | -88.9% |
| Profit (loss) for the period | 9904 | €70,329 | €3,794 | -€66,535 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,329 | €3,794 | -€66,535 | -94.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.