C.E.N. - INVEST: 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.N. - INVEST
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€81,054
up €81,054 (+72.9%), from €111,150 to €192,204
- Profit (loss) carried forward -€74,163
down €74,163 (-100%), from €74,163 to €0
- Debts after one year -€8,800
down €8,800 (-12.0%), from €73,334 to €64,534
- Gross operating margin -€29,298
down €29,298 (-58.9%), from €49,742 to €20,444
- Taxes -€9,007
down €9,007 (-71.5%), from €12,598 to €3,590
- Financial charges -€900
down €900 (-13.7%), from €6,572 to €5,672
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 | €512,906 | €513,627 | +€721 | +0.1% |
| Fixed assets | 21/28 | €511,000 | €510,766 | -€234 | 0.0% |
| Tangible fixed assets | 22/27 | €511,000 | €510,766 | -€234 | 0.0% |
| Land and buildings | 22 | €510,766 | €510,766 | = | 0.0% |
| Plant, machinery and equipment | 23 | €234 | €0 | -€234 | -100% |
| Current assets | 29/58 | €1,906 | €2,861 | +€955 | +50.1% |
| Cash at bank and in hand | 54/58 | €1,231 | €1,667 | +€436 | +35.4% |
| Deferred charges and accrued income | 490/1 | €675 | €1,194 | +€519 | +77.0% |
| Total equity and liabilities | 10/49 | €512,906 | €513,627 | +€721 | +0.1% |
| Equity | 10/15 | €204,063 | €210,954 | +€6,891 | +3.4% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €111,150 | €192,204 | +€81,054 | +72.9% |
| Distributable reserves | 133 | €111,150 | €192,204 | +€81,054 | +72.9% |
| Profit (loss) carried forward | 14 | €74,163 | €0 | -€74,163 | -100% |
| Amounts payable | 17/49 | €308,843 | €302,674 | -€6,170 | -2.0% |
| Amounts payable after more than one year | 17 | €73,334 | €64,534 | -€8,800 | -12.0% |
| Financial debts | 170/4 | €73,334 | €64,534 | -€8,800 | -12.0% |
| Amounts payable within one year | 42/48 | €226,801 | €224,905 | -€1,896 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €8,800 | €8,800 | = | 0.0% |
| Trade debts | 44 | €1,310 | €385 | -€925 | -70.6% |
| Suppliers | 440/4 | €1,310 | €385 | -€925 | -70.6% |
| Taxes, remuneration and social security | 45 | €9,377 | €9,422 | +€45 | +0.5% |
| Taxes | 450/3 | €9,377 | €9,422 | +€45 | +0.5% |
| Other amounts payable | 47/48 | €207,314 | €206,298 | -€1,016 | -0.5% |
| Accrued charges and deferred income | 492/3 | €8,709 | €13,235 | +€4,526 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €601 | €234 | -€367 | -61.1% |
| Other operating charges | 640/8 | €3,662 | €4,056 | +€394 | +10.8% |
| Gross operating margin | 9900 | €49,742 | €20,444 | -€29,298 | -58.9% |
| Operating profit (loss) | 9901 | €45,479 | €16,154 | -€29,325 | -64.5% |
| Financial income | 75/76B | €7 | €0 | -€7 | -100% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100% |
| Financial charges | 65/66B | €6,572 | €5,672 | -€900 | -13.7% |
| Recurring financial charges | 65 | €6,572 | €5,672 | -€900 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €38,914 | €10,481 | -€28,433 | -73.1% |
| Income taxes | 67/77 | €12,598 | €3,590 | -€9,007 | -71.5% |
| Profit (loss) for the period | 9904 | €26,316 | €6,891 | -€19,425 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,316 | €6,891 | -€19,425 | -73.8% |
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 25 October 2026 via checked.be.