C.E.B.: 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.
C.E.B.
Largest movements
- Deferred charges and accrued income -€9,563
down €9,563 (-54.3%), from €17,610 to €8,047
- Stocks and contracts -€2,450
down €2,450 (-19.8%), from €12,400 to €9,950
- Profit (loss) carried forward -€24,820
down €24,820 (-26.2%), from -€94,791 to -€119,611
- Other debts +€10,710
new in 2025: €10,710
- Short-term financial debts +€4,104
up €4,104 (+26.9%), from €15,255 to €19,359
- Tax, wage and social debts -€1,418
down €1,418 (-12.0%), from €11,823 to €10,405
of which Taxes: -€1,613
- Trade debts -€1,174
down €1,174 (-4.0%), from €29,272 to €28,098
of which Suppliers: -€2,706
- Gross operating margin +€17,510
up €17,510 (+16.9%), from €103,599 to €121,109
- Financial charges +€15,493
up €15,493 (+289.4%), from €5,354 to €20,847
- Staff costs +€1,432
up €1,432 (+1.2%), from €121,011 to €122,443
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,322 | €35,723 | -€12,599 | -26.1% |
| Fixed assets | 21/28 | €3,758 | €3,500 | -€258 | -6.9% |
| Tangible fixed assets | 22/27 | €3,758 | €3,500 | -€258 | -6.9% |
| Plant, machinery and equipment | 23 | €629 | €1,236 | +€607 | +96.5% |
| Furniture and vehicles | 24 | €3,129 | €2,264 | -€865 | -27.6% |
| Current assets | 29/58 | €44,564 | €32,223 | -€12,341 | -27.7% |
| Stocks and contracts in progress | 3 | €12,400 | €9,950 | -€2,450 | -19.8% |
| Stocks | 30/36 | €12,400 | €9,950 | -€2,450 | -19.8% |
| Amounts receivable within one year | 40/41 | €14,554 | €14,226 | -€328 | -2.3% |
| Trade receivables | 40 | €8,329 | €14,218 | +€5,889 | +70.7% |
| Other amounts receivable | 41 | €6,225 | €8 | -€6,217 | -99.9% |
| Deferred charges and accrued income | 490/1 | €17,610 | €8,047 | -€9,563 | -54.3% |
| Total equity and liabilities | 10/49 | €48,322 | €35,723 | -€12,599 | -26.1% |
| Equity | 10/15 | -€8,028 | -€32,848 | -€24,820 | -309.2% |
| Contributions | 10/11 | €86,763 | €86,763 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€94,791 | -€119,611 | -€24,820 | -26.2% |
| Amounts payable | 17/49 | €56,350 | €68,571 | +€12,221 | +21.7% |
| Amounts payable within one year | 42/48 | €56,350 | €68,571 | +€12,221 | +21.7% |
| Financial debts | 43 | €15,255 | €19,359 | +€4,104 | +26.9% |
| Credit institutions | 430/8 | €15,255 | €19,359 | +€4,104 | +26.9% |
| Trade debts | 44 | €29,272 | €28,098 | -€1,174 | -4.0% |
| Suppliers | 440/4 | €23,751 | €21,045 | -€2,706 | -11.4% |
| Bills of exchange payable | 441 | €5,521 | €7,053 | +€1,532 | +27.7% |
| Taxes, remuneration and social security | 45 | €11,823 | €10,405 | -€1,418 | -12.0% |
| Taxes | 450/3 | €3,384 | €1,771 | -€1,613 | -47.7% |
| Remuneration and social security | 454/9 | €8,439 | €8,634 | +€195 | +2.3% |
| Other amounts payable | 47/48 | - | €10,710 | +€10,710 | |
| Remuneration, social security and pensions | 62 | €121,011 | €122,443 | +€1,432 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €953 | €1,471 | +€518 | +54.3% |
| Other operating charges | 640/8 | €1,506 | €1,167 | -€339 | -22.5% |
| Gross operating margin | 9900 | €103,599 | €121,109 | +€17,510 | +16.9% |
| Operating profit (loss) | 9901 | -€19,871 | -€3,972 | +€15,899 | +80.0% |
| Financial income | 75/76B | €635 | €0 | -€635 | -100.0% |
| Recurring financial income | 75 | €635 | €0 | -€635 | -100.0% |
| Financial charges | 65/66B | €5,354 | €20,847 | +€15,493 | +289.4% |
| Recurring financial charges | 65 | €5,354 | €20,847 | +€15,493 | +289.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,590 | -€24,820 | -€230 | -0.9% |
| Profit (loss) for the period | 9904 | -€24,590 | -€24,820 | -€230 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,590 | -€24,820 | -€230 | -0.9% |
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 9 October 2026 via checked.be.