BUREAU D'EXPERTISES CEDAL: what changed
What changed
BUREAU D'EXPERTISES CEDAL
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
-€16,052
2024 · €26,979-€43,031
Equity
€165,503
2024 · €181,555-€16,052
Cash
€193,452
2024 · €144,566+€48,886
Balance sheet total
€262,933
2024 · €228,337+€34,596
Largest movements
Assets
- Cash +€48,886
up €48,886 (+33.8%), from €144,566 to €193,452
mainly Trade debts (+€51,683) and Receivables within one year (+€16,539)
- Receivables within one year -€16,539
down €16,539 (-28.7%), from €57,602 to €41,062
of which Trade receivables: -€16,246
Equity and liabilities
- Trade debts +€51,683
up €51,683 (+134%), from €38,634 to €90,316
- Profit (loss) carried forward -€16,052
down €16,052 (-80.6%), from -€19,916 to -€35,968
Income statement
- Gross operating margin -€37,439
down €37,439 (-21.0%), from €178,148 to €140,708
- Turnover -€32,308
down €32,308 (-7.6%), from €422,995 to €390,687
- Staff costs +€8,460
up €8,460 (+6.4%), from €132,237 to €140,696
- Purchases and services +€5,131
up €5,131 (+2.1%), from €244,847 to €249,979
- Taxes -€4,555
down €4,555 (-38.2%), from €11,912 to €7,357
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€26,979
Gross operating margin
-€37,439
Staff costs
-€8,460
Depreciation
-€956
Other operating charges
-€738
Financial income
+€16
Financial charges
-€9
Taxes
+€4,555
Result 2025
-€16,052
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€53,399
Investment
-€4,512
Financing
€0
Cash 2024
€144,566
From operations (derived)
+€53,399
Net result for the year
-€16,052
Depreciation
+€3,028
Receivables within one year
+€16,539
Deferred charges and accrued income
-€765
Trade debts
+€51,683
Tax, wage and social debts
+€560
Advances received
-€1,595
Investment (derived)
-€4,512
Investment in fixed assets (net)
-€4,512
Cash 2025
€193,452
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €228,337 | €262,933 | +€34,596 | +15.2% |
| Fixed assets | 21/28 | €26,169 | €27,653 | +€1,484 | +5.7% |
| Tangible fixed assets | 22/27 | €26,095 | €27,579 | +€1,484 | +5.7% |
| Land and buildings | 22 | €22,030 | €21,388 | -€642 | -2.9% |
| Plant, machinery and equipment | 23 | €1,805 | €1,321 | -€484 | -26.8% |
| Furniture and vehicles | 24 | €2,260 | €4,870 | +€2,611 | +116% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €202,167 | €235,280 | +€33,112 | +16.4% |
| Amounts receivable within one year | 40/41 | €57,602 | €41,062 | -€16,539 | -28.7% |
| Trade receivables | 40 | €49,280 | €33,033 | -€16,246 | -33.0% |
| Other amounts receivable | 41 | €8,322 | €8,029 | -€293 | -3.5% |
| Cash at bank and in hand | 54/58 | €144,566 | €193,452 | +€48,886 | +33.8% |
| Deferred charges and accrued income | 490/1 | - | €765 | +€765 | |
| Total equity and liabilities | 10/49 | €228,337 | €262,933 | +€34,596 | +15.2% |
| Equity | 10/15 | €181,555 | €165,503 | -€16,052 | -8.8% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €163,971 | €163,971 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,750 | €3,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,750 | €3,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €149,221 | €149,221 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,916 | -€35,968 | -€16,052 | -80.6% |
| Provisions and deferred taxes | 16 | €3,855 | €3,855 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,855 | €3,855 | = | 0.0% |
| Other liabilities and charges | 164/5 | €3,855 | €3,855 | = | 0.0% |
| Amounts payable | 17/49 | €42,926 | €93,575 | +€50,648 | +118% |
| Amounts payable within one year | 42/48 | €42,926 | €93,575 | +€50,648 | +118% |
| Trade debts | 44 | €38,634 | €90,316 | +€51,683 | +134% |
| Suppliers | 440/4 | €38,634 | €90,316 | +€51,683 | +134% |
| Advances received on contracts in progress | 46 | €1,595 | - | -€1,595 | |
| Taxes, remuneration and social security | 45 | €2,698 | €3,258 | +€560 | +20.8% |
| Taxes | 450/3 | €2,698 | €3,258 | +€560 | +20.8% |
| Turnover | 70 | €422,995 | €390,687 | -€32,308 | -7.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €244,847 | €249,979 | +€5,131 | +2.1% |
| Remuneration, social security and pensions | 62 | €132,237 | €140,696 | +€8,460 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,072 | €3,028 | +€956 | +46.1% |
| Other operating charges | 640/8 | €5,390 | €6,128 | +€738 | +13.7% |
| Gross operating margin | 9900 | €178,148 | €140,708 | -€37,439 | -21.0% |
| Operating profit (loss) | 9901 | €38,449 | -€9,144 | -€47,593 | |
| Financial income | 75/76B | €513 | €530 | +€16 | +3.2% |
| Recurring financial income | 75 | €513 | €530 | +€16 | +3.2% |
| Financial charges | 65/66B | €72 | €80 | +€9 | +12.3% |
| Recurring financial charges | 65 | €72 | €80 | +€9 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €38,891 | -€8,695 | -€47,586 | |
| Income taxes | 67/77 | €11,912 | €7,357 | -€4,555 | -38.2% |
| Profit (loss) for the period | 9904 | €26,979 | -€16,052 | -€43,031 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,979 | -€16,052 | -€43,031 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.