CEADEX: 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.
CEADEX
Largest movements
- Tangible fixed assets -€22,502
down €22,502 (-4.0%), from €569,141 to €546,639
of which Land and buildings: -€23,794
- Receivables within one year +€18,461
up €18,461 (+139.4%), from €13,248 to €31,709
of which Trade receivables: +€19,447
- Debts after one year -€40,116
down €40,116 (-21.8%), from €183,671 to €143,554
- Other debts +€26,682
up €26,682 (+25.2%), from €106,008 to €132,690
- Tax, wage and social debts +€8,329
new in 2025: €8,329
- Trade debts -€6,466
down €6,466 (-75.9%), from €8,524 to €2,058
- Gross operating margin +€30,932
up €30,932 (+204.3%), from €15,143 to €46,075
- Financial charges +€2,539
up €2,539 (+33.3%), from €7,629 to €10,168
- Depreciation -€1,602
down €1,602 (-5.3%), from €30,425 to €28,823
- Other operating charges +€902
up €902 (+26.0%), from €3,475 to €4,377
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 | €615,487 | €608,388 | -€7,099 | -1.2% |
| Fixed assets | 21/28 | €569,165 | €546,663 | -€22,502 | -4.0% |
| Tangible fixed assets | 22/27 | €569,141 | €546,639 | -€22,502 | -4.0% |
| Land and buildings | 22 | €568,118 | €544,325 | -€23,794 | -4.2% |
| Furniture and vehicles | 24 | €1,022 | €2,314 | +€1,292 | +126.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €46,321 | €61,724 | +€15,403 | +33.3% |
| Amounts receivable within one year | 40/41 | €13,248 | €31,709 | +€18,461 | +139.4% |
| Trade receivables | 40 | €12,262 | €31,709 | +€19,447 | +158.6% |
| Other amounts receivable | 41 | €986 | - | -€986 | |
| Cash at bank and in hand | 54/58 | €33,073 | €30,015 | -€3,058 | -9.2% |
| Total equity and liabilities | 10/49 | €615,487 | €608,388 | -€7,099 | -1.2% |
| Equity | 10/15 | €278,933 | €281,640 | +€2,707 | +1.0% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €251,433 | €254,140 | +€2,707 | +1.1% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €241,433 | €244,140 | +€2,707 | +1.1% |
| Amounts payable | 17/49 | €336,554 | €326,748 | -€9,806 | -2.9% |
| Amounts payable after more than one year | 17 | €183,671 | €143,554 | -€40,116 | -21.8% |
| Financial debts | 170/4 | €183,671 | €143,554 | -€40,116 | -21.8% |
| Amounts payable within one year | 42/48 | €152,883 | €183,194 | +€30,311 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €38,351 | €40,116 | +€1,766 | +4.6% |
| Trade debts | 44 | €8,524 | €2,058 | -€6,466 | -75.9% |
| Suppliers | 440/4 | €8,524 | €2,058 | -€6,466 | -75.9% |
| Taxes, remuneration and social security | 45 | - | €8,329 | +€8,329 | |
| Taxes | 450/3 | - | €8,329 | +€8,329 | |
| Other amounts payable | 47/48 | €106,008 | €132,690 | +€26,682 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,425 | €28,823 | -€1,602 | -5.3% |
| Other operating charges | 640/8 | €3,475 | €4,377 | +€902 | +26.0% |
| Gross operating margin | 9900 | €15,143 | €46,075 | +€30,932 | +204.3% |
| Operating profit (loss) | 9901 | -€18,757 | €12,875 | +€31,632 | |
| Financial charges | 65/66B | €7,629 | €10,168 | +€2,539 | +33.3% |
| Recurring financial charges | 65 | €7,629 | €10,168 | +€2,539 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | -€26,386 | €2,707 | +€29,093 | |
| Income taxes | 67/77 | €205 | - | -€205 | |
| Profit (loss) for the period | 9904 | -€26,591 | €2,707 | +€29,298 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,591 | €2,707 | +€29,298 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.