C.E.C. FINANCE: 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.C. FINANCE
Largest movements
- Receivables within one year +€73,549
up €73,549 (+10.9%), from €673,688 to €747,237
- Tangible fixed assets -€49,795
down €49,795 (-8.4%), from €594,383 to €544,588
of which Land and buildings: -€35,327
- Debts after one year -€65,145
down €65,145 (-14.5%), from €449,002 to €383,857
of which Financial debts: -€65,145
- Profit (loss) carried forward +€59,598
up €59,598 (+12.4%), from €482,548 to €542,145
- Trade debts +€19,877
up €19,877 (+63.1%), from €31,524 to €51,400
- Tax, wage and social debts +€16,681
up €16,681 (+69.6%), from €23,966 to €40,647
of which Remuneration and social security: +€16,773
- Staff costs -€55,231
down €55,231 (-30.5%), from €181,058 to €125,826
- Taxes +€21,375
up €21,375 (+172.4%), from €12,398 to €33,774
- Gross operating margin +€10,308
up €10,308 (+3.6%), from €285,903 to €296,211
- Other operating charges -€9,832
down €9,832 (-77.4%), from €12,700 to €2,868
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
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 | €1,271,444 | €1,294,119 | +€22,675 | +1.8% |
| Fixed assets | 21/28 | €595,831 | €545,796 | -€50,035 | -8.4% |
| Intangible fixed assets | 21 | €1,386 | €1,146 | -€240 | -17.3% |
| Tangible fixed assets | 22/27 | €594,383 | €544,588 | -€49,795 | -8.4% |
| Land and buildings | 22 | €523,767 | €488,440 | -€35,327 | -6.7% |
| Plant, machinery and equipment | 23 | €42,237 | €35,852 | -€6,385 | -15.1% |
| Furniture and vehicles | 24 | €28,379 | €20,296 | -€8,083 | -28.5% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €675,613 | €748,323 | +€72,710 | +10.8% |
| Amounts receivable within one year | 40/41 | €673,688 | €747,237 | +€73,549 | +10.9% |
| Other amounts receivable | 41 | €673,688 | €747,237 | +€73,549 | +10.9% |
| Cash at bank and in hand | 54/58 | €829 | €1 | -€828 | -99.8% |
| Deferred charges and accrued income | 490/1 | €1,096 | €1,084 | -€11 | -1.0% |
| Total equity and liabilities | 10/49 | €1,271,444 | €1,294,119 | +€22,675 | +1.8% |
| Equity | 10/15 | €672,374 | €731,972 | +€59,598 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €171,226 | €171,226 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,461 | €53,461 | = | 0.0% |
| Distributable reserves | 133 | €115,905 | €115,905 | = | 0.0% |
| Profit (loss) carried forward | 14 | €482,548 | €542,145 | +€59,598 | +12.4% |
| Amounts payable | 17/49 | €599,070 | €562,148 | -€36,922 | -6.2% |
| Amounts payable after more than one year | 17 | €449,002 | €383,857 | -€65,145 | -14.5% |
| Financial debts | 170/4 | €447,692 | €382,547 | -€65,145 | -14.6% |
| Other amounts payable | 178/9 | €1,310 | €1,310 | = | 0.0% |
| Amounts payable within one year | 42/48 | €146,552 | €176,503 | +€29,951 | +20.4% |
| Current portion of amounts payable after more than one year | 42 | €87,610 | €76,659 | -€10,951 | -12.5% |
| Financial debts | 43 | €3,452 | €7,797 | +€4,344 | +125.8% |
| Credit institutions | 430/8 | €3,452 | €7,797 | +€4,344 | +125.8% |
| Trade debts | 44 | €31,524 | €51,400 | +€19,877 | +63.1% |
| Suppliers | 440/4 | €31,524 | €51,400 | +€19,877 | +63.1% |
| Taxes, remuneration and social security | 45 | €23,966 | €40,647 | +€16,681 | +69.6% |
| Taxes | 450/3 | €10,929 | €10,838 | -€92 | -0.8% |
| Remuneration and social security | 454/9 | €13,036 | €29,809 | +€16,773 | +128.7% |
| Accrued charges and deferred income | 492/3 | €3,517 | €1,788 | -€1,729 | -49.2% |
| Remuneration, social security and pensions | 62 | €181,058 | €125,826 | -€55,231 | -30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,177 | €50,035 | +€858 | +1.7% |
| Other operating charges | 640/8 | €12,700 | €2,868 | -€9,832 | -77.4% |
| Non-recurring operating charges | 66A | €33,635 | €8,085 | -€25,550 | -76.0% |
| Gross operating margin | 9900 | €285,903 | €296,211 | +€10,308 | +3.6% |
| Operating profit (loss) | 9901 | €9,333 | €109,396 | +€100,063 | +1072.1% |
| Financial income | 75/76B | €971 | €10 | -€961 | -98.9% |
| Recurring financial income | 75 | €971 | €10 | -€961 | -98.9% |
| Financial charges | 65/66B | €18,449 | €16,036 | -€2,413 | -13.1% |
| Recurring financial charges | 65 | €18,449 | €16,036 | -€2,413 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,145 | €93,371 | +€101,516 | |
| Income taxes | 67/77 | €12,398 | €33,774 | +€21,375 | +172.4% |
| Profit (loss) for the period | 9904 | -€20,543 | €59,598 | +€80,141 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,543 | €59,598 | +€80,141 |
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 8 October 2026 via checked.be.