CEA Management: 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.
CEA Management
Largest movements
- Cash +€13,098
up €13,098 (+29.6%), from €44,314 to €57,412
mainly Depreciation (+€15,627) and Net result for the year (+€9,308)
- Tangible fixed assets -€12,471
down €12,471 (-22.4%), from €55,683 to €43,212
of which Furniture and vehicles: -€13,081
- Reserves +€10,000
up €10,000 (+21.1%), from €47,500 to €57,500
- Debts after one year -€8,142
down €8,142 (-38.9%), from €20,951 to €12,809
- Trade debts -€5,780
down €5,780 (-95.1%), from €6,078 to €299
- Other debts +€5,090
up €5,090 (+23.5%), from €21,620 to €26,711
- Gross operating margin -€23,481
down €23,481 (-43.0%), from €54,640 to €31,159
- Taxes -€4,750
down €4,750 (-53.2%), from €8,922 to €4,172
- Depreciation +€1,621
up €1,621 (+11.6%), from €14,006 to €15,627
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 | €113,307 | €114,540 | +€1,232 | +1.1% |
| Fixed assets | 21/28 | €55,683 | €43,212 | -€12,471 | -22.4% |
| Tangible fixed assets | 22/27 | €55,683 | €43,212 | -€12,471 | -22.4% |
| Plant, machinery and equipment | 23 | €3,182 | €4,321 | +€1,139 | +35.8% |
| Furniture and vehicles | 24 | €47,349 | €34,268 | -€13,081 | -27.6% |
| Other tangible fixed assets | 26 | €5,152 | €4,623 | -€529 | -10.3% |
| Current assets | 29/58 | €57,624 | €71,327 | +€13,703 | +23.8% |
| Amounts receivable within one year | 40/41 | €13,310 | €13,915 | +€605 | +4.5% |
| Trade receivables | 40 | €13,310 | €13,915 | +€605 | +4.5% |
| Cash at bank and in hand | 54/58 | €44,314 | €57,412 | +€13,098 | +29.6% |
| Total equity and liabilities | 10/49 | €113,307 | €114,540 | +€1,232 | +1.1% |
| Equity | 10/15 | €51,150 | €60,458 | +€9,308 | +18.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €47,500 | €57,500 | +€10,000 | +21.1% |
| Distributable reserves | 133 | €47,500 | €57,500 | +€10,000 | +21.1% |
| Profit (loss) carried forward | 14 | €1,150 | €458 | -€692 | -60.2% |
| Amounts payable | 17/49 | €62,157 | €54,082 | -€8,076 | -13.0% |
| Amounts payable after more than one year | 17 | €20,951 | €12,809 | -€8,142 | -38.9% |
| Financial debts | 170/4 | €20,951 | €12,809 | -€8,142 | -38.9% |
| Amounts payable within one year | 42/48 | €41,207 | €41,273 | +€66 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €7,838 | €8,142 | +€304 | +3.9% |
| Trade debts | 44 | €6,078 | €299 | -€5,780 | -95.1% |
| Suppliers | 440/4 | €6,078 | €299 | -€5,780 | -95.1% |
| Taxes, remuneration and social security | 45 | €5,670 | €6,121 | +€452 | +8.0% |
| Taxes | 450/3 | €5,670 | €6,121 | +€452 | +8.0% |
| Other amounts payable | 47/48 | €21,620 | €26,711 | +€5,090 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,006 | €15,627 | +€1,621 | +11.6% |
| Other operating charges | 640/8 | €917 | €953 | +€37 | +4.0% |
| Gross operating margin | 9900 | €54,640 | €31,159 | -€23,481 | -43.0% |
| Operating profit (loss) | 9901 | €39,718 | €14,579 | -€25,139 | -63.3% |
| Financial income | 75/76B | €65 | €9 | -€56 | -86.2% |
| Recurring financial income | 75 | €65 | €9 | -€56 | -86.2% |
| Financial charges | 65/66B | €1,335 | €1,109 | -€226 | -17.0% |
| Recurring financial charges | 65 | €1,335 | €1,109 | -€226 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €38,448 | €13,479 | -€24,968 | -64.9% |
| Income taxes | 67/77 | €8,922 | €4,172 | -€4,750 | -53.2% |
| Profit (loss) for the period | 9904 | €29,526 | €9,308 | -€20,218 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,526 | €9,308 | -€20,218 | -68.5% |
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 2 October 2026 via checked.be.