CE.SA: 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.
CE.SA
Largest movements
- Receivables within one year -€4,000
down €4,000 (-36.0%), from €11,110 to €7,110
- Tangible fixed assets -€1,125
down €1,125 (-70.5%), from €1,596 to €471
- Other debts -€3,898
down €3,898 (-67.7%), from €5,760 to €1,862
- Trade debts -€2,877
down €2,877 (-47.5%), from €6,053 to €3,177
- Profit (loss) carried forward +€1,154
up €1,154 (+12.0%), from -€9,652 to -€8,497
- Tax, wage and social debts +€667
up €667 (+364.2%), from €183 to €850
- Gross operating margin +€3,680
up €3,680 (+134.7%), from €2,731 to €6,411
- Financial charges +€1,436
up €1,436 (+101.0%), from €1,422 to €2,858
- Taxes +€484
up €484 (+264.2%), from €183 to €667
- Financial income +€123
up €123 (+285.5%), from €43 to €167
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 | €14,156 | €9,214 | -€4,942 | -34.9% |
| Fixed assets | 21/28 | €2,616 | €1,491 | -€1,125 | -43.0% |
| Tangible fixed assets | 22/27 | €1,596 | €471 | -€1,125 | -70.5% |
| Furniture and vehicles | 24 | €1,596 | €471 | -€1,125 | -70.5% |
| Financial fixed assets | 28 | €1,020 | €1,020 | = | 0.0% |
| Current assets | 29/58 | €11,540 | €7,723 | -€3,817 | -33.1% |
| Amounts receivable within one year | 40/41 | €11,110 | €7,110 | -€4,000 | -36.0% |
| Trade receivables | 40 | €11,110 | €7,110 | -€4,000 | -36.0% |
| Cash at bank and in hand | 54/58 | €362 | €413 | +€51 | +14.2% |
| Deferred charges and accrued income | 490/1 | €69 | €200 | +€131 | +191.5% |
| Total equity and liabilities | 10/49 | €14,156 | €9,214 | -€4,942 | -34.9% |
| Equity | 10/15 | €2,160 | €3,314 | +€1,154 | +53.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €11,712 | €11,712 | = | 0.0% |
| Distributable reserves | 133 | €11,712 | €11,712 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,652 | -€8,497 | +€1,154 | +12.0% |
| Amounts payable | 17/49 | €11,996 | €5,900 | -€6,097 | -50.8% |
| Amounts payable within one year | 42/48 | €11,996 | €5,900 | -€6,097 | -50.8% |
| Financial debts | 43 | - | €10 | +€10 | |
| Credit institutions | 430/8 | - | €10 | +€10 | |
| Trade debts | 44 | €6,053 | €3,177 | -€2,877 | -47.5% |
| Suppliers | 440/4 | €6,053 | €3,177 | -€2,877 | -47.5% |
| Taxes, remuneration and social security | 45 | €183 | €850 | +€667 | +364.2% |
| Taxes | 450/3 | €183 | €850 | +€667 | +364.2% |
| Other amounts payable | 47/48 | €5,760 | €1,862 | -€3,898 | -67.7% |
| Non-recurring operating income | 76A | - | €1,616 | +€1,616 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,125 | €1,125 | = | 0.0% |
| Other operating charges | 640/8 | €716 | €773 | +€57 | +8.0% |
| Gross operating margin | 9900 | €2,731 | €6,411 | +€3,680 | +134.7% |
| Operating profit (loss) | 9901 | €890 | €4,513 | +€3,623 | +406.8% |
| Financial income | 75/76B | €43 | €167 | +€123 | +285.5% |
| Recurring financial income | 75 | €43 | €167 | +€123 | +285.5% |
| Financial charges | 65/66B | €1,422 | €2,858 | +€1,436 | +101.0% |
| Recurring financial charges | 65 | €1,422 | €2,858 | +€1,436 | +101.0% |
| Profit (loss) for the period before taxes | 9903 | -€488 | €1,822 | +€2,310 | |
| Income taxes | 67/77 | €183 | €667 | +€484 | +264.2% |
| Profit (loss) for the period | 9904 | -€671 | €1,154 | +€1,826 | |
| Profit (loss) for the period to be appropriated | 9905 | -€671 | €1,154 | +€1,826 |
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 3 October 2026 via checked.be.