CeArKo: 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.
CeArKo
Largest movements
- Cash +€41,190
up €41,190 (+44.3%), from €93,084 to €134,274
mainly Net result for the year (+€47,556) and Tax, wage and social debts (+€1,690)
- Receivables within one year +€6,569
up €6,569 (+42.5%), from €15,452 to €22,021
of which Trade receivables: +€5,162
- Reserves +€47,556
up €47,556 (+46.3%), from €102,774 to €150,331
- Trade debts -€2,507
down €2,507 (-67.5%), from €3,713 to €1,206
- Tax, wage and social debts +€1,690
up €1,690 (+60.7%), from €2,782 to €4,472
- Gross operating margin -€71,876
down €71,876 (-53.8%), from €133,596 to €61,721
- Taxes -€16,222
down €16,222 (-56.7%), from €28,615 to €12,394
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 | €114,269 | €161,022 | +€46,753 | +40.9% |
| Fixed assets | 21/28 | €4,522 | €3,493 | -€1,029 | -22.8% |
| Tangible fixed assets | 22/27 | €4,522 | €3,493 | -€1,029 | -22.8% |
| Plant, machinery and equipment | 23 | €1,555 | €1,160 | -€395 | -25.4% |
| Furniture and vehicles | 24 | €2,967 | €2,333 | -€634 | -21.4% |
| Current assets | 29/58 | €109,747 | €157,529 | +€47,782 | +43.5% |
| Amounts receivable within one year | 40/41 | €15,452 | €22,021 | +€6,569 | +42.5% |
| Trade receivables | 40 | €15,452 | €20,614 | +€5,162 | +33.4% |
| Other amounts receivable | 41 | - | €1,406 | +€1,406 | |
| Cash at bank and in hand | 54/58 | €93,084 | €134,274 | +€41,190 | +44.3% |
| Deferred charges and accrued income | 490/1 | €1,211 | €1,234 | +€24 | +2.0% |
| Total equity and liabilities | 10/49 | €114,269 | €161,022 | +€46,753 | +40.9% |
| Equity | 10/15 | €107,774 | €155,331 | +€47,556 | +44.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €102,774 | €150,331 | +€47,556 | +46.3% |
| Distributable reserves | 133 | €102,774 | €150,331 | +€47,556 | +46.3% |
| Amounts payable | 17/49 | €6,494 | €5,691 | -€803 | -12.4% |
| Amounts payable within one year | 42/48 | €6,494 | €5,691 | -€803 | -12.4% |
| Trade debts | 44 | €3,713 | €1,206 | -€2,507 | -67.5% |
| Suppliers | 440/4 | €3,713 | €1,206 | -€2,507 | -67.5% |
| Taxes, remuneration and social security | 45 | €2,782 | €4,472 | +€1,690 | +60.7% |
| Taxes | 450/3 | €2,782 | €4,472 | +€1,690 | +60.7% |
| Other amounts payable | 47/48 | - | €14 | +€14 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €624 | €1,029 | +€405 | +64.8% |
| Other operating charges | 640/8 | €1,115 | €464 | -€651 | -58.4% |
| Gross operating margin | 9900 | €133,596 | €61,721 | -€71,876 | -53.8% |
| Operating profit (loss) | 9901 | €131,857 | €60,228 | -€71,629 | -54.3% |
| Financial charges | 65/66B | €468 | €278 | -€190 | -40.6% |
| Recurring financial charges | 65 | €468 | €278 | -€190 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €131,390 | €59,950 | -€71,440 | -54.4% |
| Income taxes | 67/77 | €28,615 | €12,394 | -€16,222 | -56.7% |
| Profit (loss) for the period | 9904 | €102,774 | €47,556 | -€55,218 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €102,774 | €47,556 | -€55,218 | -53.7% |
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 11 October 2026 via checked.be.