CEBEAU: 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.
CEBEAU
Largest movements
- Intangible fixed assets +€930,312
new in 2025: €930,312
- Tangible fixed assets +€453,221
new in 2025: €453,221
of which Plant, machinery and equipment: +€451,233
- Stocks and contracts +€260,000
new in 2025: €260,000
- Cash -€113,648
down €113,648 (-19.0%), from €598,951 to €485,303
mainly Investment in fixed assets (net) (-€1.5m) and Stocks and contracts (-€260,000)
- Receivables within one year +€83,230
up €83,230 (+229.3%), from €36,300 to €119,530
of which Other amounts receivable: +€50,404
- Debts after one year +€1.5m
new in 2025: €1.5m
- Trade debts +€87,454
up €87,454, from €0 to €87,454
- Reserves +€43,801
new in 2025: €43,801
- Gross operating margin -€206,089
down €206,089 (-53.7%), from €383,521 to €177,432
- Depreciation +€118,875
new in 2025: €118,875
- Taxes -€74,126
down €74,126 (-81.6%), from €90,820 to €16,694
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 | €635,251 | €2,248,365 | +€1.6m | +253.9% |
| Fixed assets | 21/28 | - | €1,383,533 | +€1.4m | |
| Intangible fixed assets | 21 | - | €930,312 | +€930,312 | |
| Tangible fixed assets | 22/27 | - | €453,221 | +€453,221 | |
| Plant, machinery and equipment | 23 | - | €451,233 | +€451,233 | |
| Furniture and vehicles | 24 | - | €1,988 | +€1,988 | |
| Current assets | 29/58 | €635,251 | €864,832 | +€229,582 | +36.1% |
| Stocks and contracts in progress | 3 | - | €260,000 | +€260,000 | |
| Contracts in progress | 37 | - | €260,000 | +€260,000 | |
| Amounts receivable within one year | 40/41 | €36,300 | €119,530 | +€83,230 | +229.3% |
| Trade receivables | 40 | €36,300 | €69,126 | +€32,826 | +90.4% |
| Other amounts receivable | 41 | €0 | €50,404 | +€50,404 | |
| Cash at bank and in hand | 54/58 | €598,951 | €485,303 | -€113,648 | -19.0% |
| Total equity and liabilities | 10/49 | €635,251 | €2,248,365 | +€1.6m | +253.9% |
| Equity | 10/15 | €608,304 | €652,105 | +€43,801 | +7.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €43,801 | +€43,801 | |
| Distributable reserves | 133 | - | €43,801 | +€43,801 | |
| Profit (loss) carried forward | 14 | €606,304 | €606,304 | = | 0.0% |
| Amounts payable | 17/49 | €26,947 | €1,596,261 | +€1.6m | +5823.7% |
| Amounts payable after more than one year | 17 | - | €1,500,000 | +€1.5m | |
| Financial debts | 170/4 | - | €1,500,000 | +€1.5m | |
| Amounts payable within one year | 42/48 | €26,947 | €96,261 | +€69,314 | +257.2% |
| Trade debts | 44 | €0 | €87,454 | +€87,454 | |
| Suppliers | 440/4 | €0 | €87,454 | +€87,454 | |
| Taxes, remuneration and social security | 45 | €26,947 | €8,807 | -€18,140 | -67.3% |
| Taxes | 450/3 | €26,947 | €8,807 | -€18,140 | -67.3% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €118,875 | +€118,875 | |
| Other operating charges | 640/8 | €182 | €186 | +€4 | +2.1% |
| Gross operating margin | 9900 | €383,521 | €177,432 | -€206,089 | -53.7% |
| Operating profit (loss) | 9901 | €383,339 | €58,371 | -€324,968 | -84.8% |
| Financial income | 75/76B | - | €2,176 | +€2,176 | |
| Recurring financial income | 75 | - | €2,176 | +€2,176 | |
| Financial charges | 65/66B | €59 | €53 | -€6 | -10.2% |
| Recurring financial charges | 65 | €59 | €53 | -€6 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €383,281 | €60,495 | -€322,786 | -84.2% |
| Income taxes | 67/77 | €90,820 | €16,694 | -€74,126 | -81.6% |
| Profit (loss) for the period | 9904 | €292,461 | €43,801 | -€248,660 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €292,461 | €43,801 | -€248,660 | -85.0% |
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 6 October 2026 via checked.be.