CEARA: 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.
CEARA
Largest movements
- Cash +€32,971
up €32,971 (+115.9%), from €28,451 to €61,421
mainly Depreciation (+€34,551) and Stocks and contracts (+€28,938)
- Stocks and contracts -€28,938
down €28,938 (-10.6%), from €272,829 to €243,891
- Receivables within one year -€20,915
down €20,915 (-35.3%), from €59,190 to €38,275
of which Other amounts receivable: -€15,885
- Tangible fixed assets -€18,188
down €18,188 (-20.0%), from €91,079 to €72,891
of which Furniture and vehicles: -€21,882
- Trade debts -€35,602
down €35,602 (-39.9%), from €89,138 to €53,536
- Reserves +€9,025
up €9,025 (+60.4%), from €14,953 to €23,978
- Other debts -€6,457
down €6,457 (-8.6%), from €75,189 to €68,732
- Staff costs +€11,932
up €11,932 (+9.7%), from €122,672 to €134,604
- Gross operating margin +€10,393
up €10,393 (+5.2%), from €200,000 to €210,393
- Financial charges -€7,951
down €7,951 (-55.0%), from €14,452 to €6,501
- Depreciation +€5,679
up €5,679 (+19.7%), from €28,873 to €34,551
- Other operating charges +€3,614
up €3,614 (+27.7%), from €13,070 to €16,684
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 | €456,990 | €421,644 | -€35,345 | -7.7% |
| Fixed assets | 21/28 | €91,779 | €73,791 | -€17,988 | -19.6% |
| Tangible fixed assets | 22/27 | €91,079 | €72,891 | -€18,188 | -20.0% |
| Land and buildings | 22 | €3,553 | €2,811 | -€742 | -20.9% |
| Plant, machinery and equipment | 23 | €22,690 | €27,126 | +€4,436 | +19.5% |
| Furniture and vehicles | 24 | €64,835 | €42,953 | -€21,882 | -33.8% |
| Financial fixed assets | 28 | €700 | €900 | +€200 | +28.6% |
| Current assets | 29/58 | €365,211 | €347,853 | -€17,357 | -4.8% |
| Stocks and contracts in progress | 3 | €272,829 | €243,891 | -€28,938 | -10.6% |
| Stocks | 30/36 | €272,829 | €243,891 | -€28,938 | -10.6% |
| Amounts receivable within one year | 40/41 | €59,190 | €38,275 | -€20,915 | -35.3% |
| Trade receivables | 40 | €37,080 | €32,050 | -€5,030 | -13.6% |
| Other amounts receivable | 41 | €22,110 | €6,225 | -€15,885 | -71.8% |
| Cash at bank and in hand | 54/58 | €28,451 | €61,421 | +€32,971 | +115.9% |
| Deferred charges and accrued income | 490/1 | €4,742 | €4,266 | -€475 | -10.0% |
| Total equity and liabilities | 10/49 | €456,990 | €421,644 | -€35,345 | -7.7% |
| Equity | 10/15 | €54,953 | €63,978 | +€9,025 | +16.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €14,953 | €23,978 | +€9,025 | +60.4% |
| Distributable reserves | 133 | €14,953 | €23,978 | +€9,025 | +60.4% |
| Amounts payable | 17/49 | €402,036 | €357,666 | -€44,370 | -11.0% |
| Amounts payable after more than one year | 17 | €28,341 | €24,137 | -€4,204 | -14.8% |
| Financial debts | 170/4 | €28,341 | €24,137 | -€4,204 | -14.8% |
| Amounts payable within one year | 42/48 | €370,248 | €332,989 | -€37,259 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €15,480 | €19,850 | +€4,371 | +28.2% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €89,138 | €53,536 | -€35,602 | -39.9% |
| Suppliers | 440/4 | €89,138 | €53,536 | -€35,602 | -39.9% |
| Taxes, remuneration and social security | 45 | €40,442 | €40,870 | +€428 | +1.1% |
| Taxes | 450/3 | €14,723 | €13,274 | -€1,449 | -9.8% |
| Remuneration and social security | 454/9 | €25,719 | €27,597 | +€1,878 | +7.3% |
| Other amounts payable | 47/48 | €75,189 | €68,732 | -€6,457 | -8.6% |
| Accrued charges and deferred income | 492/3 | €3,447 | €540 | -€2,907 | -84.3% |
| Remuneration, social security and pensions | 62 | €122,672 | €134,604 | +€11,932 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,873 | €34,551 | +€5,679 | +19.7% |
| Other operating charges | 640/8 | €13,070 | €16,684 | +€3,614 | +27.7% |
| Gross operating margin | 9900 | €200,000 | €210,393 | +€10,393 | +5.2% |
| Operating profit (loss) | 9901 | €35,386 | €24,554 | -€10,832 | -30.6% |
| Financial income | 75/76B | €53 | €221 | +€168 | +320.3% |
| Recurring financial income | 75 | €53 | €221 | +€168 | +320.3% |
| Financial charges | 65/66B | €14,452 | €6,501 | -€7,951 | -55.0% |
| Recurring financial charges | 65 | €14,452 | €6,501 | -€7,951 | -55.0% |
| Profit (loss) for the period before taxes | 9903 | €20,986 | €18,274 | -€2,713 | -12.9% |
| Income taxes | 67/77 | €11,300 | €9,249 | -€2,051 | -18.1% |
| Profit (loss) for the period | 9904 | €9,687 | €9,025 | -€662 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,687 | €9,025 | -€662 | -6.8% |
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 9 October 2026 via checked.be.