CEBEO: 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.
What changed
CEBEO
NACE 46.643, Wholesale of electrical equipment, including installation materials
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€21.5m
2023 · €47.4m-€25.9m
Equity
€235.0m
2023 · €233.5m+€1.5m
Cash
€128,705
2023 · €1.7m-€1.5m
Balance sheet total
€358.5m
2023 · €388.7m-€30.2m
Largest movements
Assets
- Stocks and contracts -€15.3m
down €15.3m (-15.1%), from €101.2m to €85.9m
of which Stocks: -€15.3m
- Receivables within one year -€12.6m
down €12.6m (-7.1%), from €177.9m to €165.3m
of which Trade receivables: -€22.1m
- Tangible fixed assets -€6.0m
down €6.0m (-6.2%), from €97.7m to €91.7m
of which Assets under construction and advance payments: -€83.7m
- Intangible fixed assets +€5.2m
up €5.2m (+58.0%), from €9.0m to €14.1m
Equity and liabilities
- Trade debts -€28.5m
down €28.5m (-21.7%), from €131.5m to €102.9m
Income statement
- Turnover -€132.4m
down €132.4m (-15.1%), from €877.2m to €744.7m
- Goods and materials -€97.2m
down €97.2m (-14.7%), from €663.7m to €566.4m
of which Purchases: -€133.2m
- Taxes -€10.0m
down €10.0m (-56.0%), from €17.9m to €7.9m
of which Taxes: -€9.9m
From the 2023 result to the 2024 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.
Result 2023
€47.4m
Turnover
-€132.4m
Other operating income
+€2.2m
Goods and materials
+€97.2m
Services and other goods
-€1.0m
Staff costs
+€368,558
Depreciation
-€3.1m
Write-downs
-€823,713
Provisions
+€607,529
Other operating charges
+€884,597
Other operating items
+€1.6m
Financial income
-€1.6m
Financial charges
+€313,492
Taxes
+€10.0m
Deferred taxes and other
+€5,376
Result 2024
€21.5m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€27.7m
Investment
-€9.2m
Financing
-€20.0m
Cash 2023
€1.7m
From operations (derived)
+€27.7m
Net result for the year
+€21.5m
Depreciation
+€10.1m
Stocks and contracts
+€15.3m
Receivables within one year
+€12.6m
Deferred charges and accrued income
-€88,684
Provisions
-€1.1m
Trade debts
-€28.5m
Tax, wage and social debts
-€1.7m
Other debts
+€237,529
Accrued charges and deferred income
-€661,519
Investment (derived)
-€9.2m
Investment in fixed assets (net)
-€9.2m
Financing
-€20.0m
Contributions, distributions and other
-€20.0m
Cash 2024
€128,705
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €388,697,522 | €358,506,797 | -€30.2m | -7.8% |
| Fixed assets | 21/28 | €106,799,873 | €105,985,047 | -€814,826 | -0.8% |
| Intangible fixed assets | 21 | €8,957,913 | €14,149,522 | +€5.2m | +58.0% |
| Tangible fixed assets | 22/27 | €97,723,383 | €91,707,628 | -€6.0m | -6.2% |
| Land and buildings | 22 | €861,768 | €74,942,651 | +€74.1m | +8596.4% |
| Plant, machinery and equipment | 23 | €2,937,956 | €7,192,468 | +€4.3m | +144.8% |
| Furniture and vehicles | 24 | €934,217 | €1,081,203 | +€146,986 | +15.7% |
| Other tangible fixed assets | 26 | €9,176,115 | €8,391,306 | -€784,809 | -8.6% |
| Assets under construction and advance payments | 27 | €83,813,327 | €100,000 | -€83.7m | -99.9% |
| Financial fixed assets | 28 | €118,578 | €127,898 | +€9,320 | +7.9% |
| Affiliated companies | 280/1 | €8,197 | €8,197 | = | 0.0% |
| Participating interests | 280 | €8,197 | €8,197 | = | 0.0% |
| Other financial fixed assets | 284/8 | €110,381 | €119,701 | +€9,320 | +8.4% |
| Amounts receivable and cash guarantees | 285/8 | €110,381 | €119,701 | +€9,320 | +8.4% |
| Current assets | 29/58 | €281,897,649 | €252,521,749 | -€29.4m | -10.4% |
| Stocks and contracts in progress | 3 | €101,203,301 | €85,895,593 | -€15.3m | -15.1% |
| Stocks | 30/36 | €100,462,240 | €85,187,908 | -€15.3m | -15.2% |
| Goods purchased for resale | 34 | €100,462,240 | €85,187,908 | -€15.3m | -15.2% |
| Contracts in progress | 37 | €741,061 | €707,685 | -€33,376 | -4.5% |
| Amounts receivable within one year | 40/41 | €177,931,347 | €165,299,701 | -€12.6m | -7.1% |
| Trade receivables | 40 | €165,522,782 | €143,395,464 | -€22.1m | -13.4% |
| Other amounts receivable | 41 | €12,408,565 | €21,904,237 | +€9.5m | +76.5% |
| Cash at bank and in hand | 54/58 | €1,653,934 | €128,705 | -€1.5m | -92.2% |
| Deferred charges and accrued income | 490/1 | €1,109,066 | €1,197,750 | +€88,684 | +8.0% |
| Total equity and liabilities | 10/49 | €388,697,522 | €358,506,797 | -€30.2m | -7.8% |
| Equity | 10/15 | €233,484,427 | €234,990,759 | +€1.5m | +0.6% |
| Contributions | 10/11 | €3,890,730 | €3,890,730 | = | 0.0% |
| Capital | 10 | €3,890,730 | €3,890,730 | = | 0.0% |
| Issued capital | 100 | €3,890,730 | €3,890,730 | = | 0.0% |
| Revaluation surpluses | 12 | €4,761,777 | €4,761,777 | = | 0.0% |
| Reserves | 13 | €13,944,277 | €14,847,520 | +€903,242 | +6.5% |
| Non-distributable reserves | 130/1 | €752,900 | €752,900 | = | 0.0% |
| Legal reserve | 130 | €732,468 | €732,468 | = | 0.0% |
| Other | 1319 | €20,432 | €20,432 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,131,355 | €7,034,597 | -€1.1m | -13.5% |
| Distributable reserves | 133 | €5,060,023 | €7,060,023 | +€2.0m | +39.5% |
| Profit (loss) carried forward | 14 | €210,887,643 | €211,490,732 | +€603,089 | +0.3% |
| Provisions and deferred taxes | 16 | €1,283,316 | €228,535 | -€1.1m | -82.2% |
| Provisions for liabilities and charges | 160/5 | €1,085,000 | €62,471 | -€1.0m | -94.2% |
| Other liabilities and charges | 164/5 | €1,085,000 | €62,471 | -€1.0m | -94.2% |
| Deferred taxes | 168 | €198,316 | €166,065 | -€32,252 | -16.3% |
| Amounts payable | 17/49 | €153,929,779 | €123,287,503 | -€30.6m | -19.9% |
| Amounts payable within one year | 42/48 | €153,241,172 | €123,260,416 | -€30.0m | -19.6% |
| Trade debts | 44 | €131,455,626 | €102,906,183 | -€28.5m | -21.7% |
| Suppliers | 440/4 | €131,455,626 | €102,906,183 | -€28.5m | -21.7% |
| Taxes, remuneration and social security | 45 | €20,465,546 | €18,796,704 | -€1.7m | -8.2% |
| Taxes | 450/3 | €6,840,215 | €6,235,901 | -€604,314 | -8.8% |
| Remuneration and social security | 454/9 | €13,625,331 | €12,560,803 | -€1.1m | -7.8% |
| Other amounts payable | 47/48 | €1,320,000 | €1,557,529 | +€237,529 | +18.0% |
| Accrued charges and deferred income | 492/3 | €688,606 | €27,087 | -€661,519 | -96.1% |
| Operating income | 70/76A | €880,423,091 | €752,782,217 | -€127.6m | -14.5% |
| Turnover | 70 | €877,156,317 | €744,713,374 | -€132.4m | -15.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €21,209 | -€33,376 | -€54,585 | |
| Other operating income | 74 | €3,182,149 | €5,337,209 | +€2.2m | +67.7% |
| Non-recurring operating income | 76A | €63,416 | €2,765,010 | +€2.7m | +4260.1% |
| Operating charges | 60/66A | €818,922,448 | €725,874,667 | -€93.0m | -11.4% |
| Goods for resale, raw materials and consumables | 60 | €663,668,662 | €566,423,859 | -€97.2m | -14.7% |
| Purchases | 600/8 | €685,010,346 | €551,783,328 | -€133.2m | -19.4% |
| Change in stocks: decrease (increase) | 609 | -€21,341,684 | €14,640,531 | +€36.0m | |
| Services and other goods | 61 | €72,529,613 | €73,553,366 | +€1.0m | +1.4% |
| Remuneration, social security and pensions | 62 | €72,030,381 | €71,661,824 | -€368,558 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,932,795 | €10,055,205 | +€3.1m | +45.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,034,421 | €1,858,134 | +€823,713 | +79.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€415,000 | -€1,022,529 | -€607,529 | -146.4% |
| Other operating charges | 640/8 | €3,111,262 | €2,226,665 | -€884,597 | -28.4% |
| Non-recurring operating charges | 66A | €30,313 | €1,118,144 | +€1.1m | +3588.6% |
| Operating profit (loss) | 9901 | €61,500,643 | €26,907,551 | -€34.6m | -56.2% |
| Financial income | 75/76B | €6,978,198 | €5,329,937 | -€1.6m | -23.6% |
| Recurring financial income | 75 | €6,978,198 | €5,329,937 | -€1.6m | -23.6% |
| Income from financial fixed assets | 750 | - | €280 | +€280 | |
| Income from current assets | 751 | €703,602 | €688,931 | -€14,672 | -2.1% |
| Other financial income | 752/9 | €6,274,596 | €4,640,726 | -€1.6m | -26.0% |
| Financial charges | 65/66B | €3,182,863 | €2,869,371 | -€313,492 | -9.8% |
| Recurring financial charges | 65 | €3,182,503 | €2,869,371 | -€313,131 | -9.8% |
| Debt charges | 650 | €300,821 | €465,230 | +€164,409 | +54.7% |
| Other financial charges | 652/9 | €2,881,681 | €2,404,142 | -€477,540 | -16.6% |
| Non-recurring financial charges | 66B | €361 | - | -€361 | |
| Profit (loss) for the period before taxes | 9903 | €65,295,978 | €29,368,116 | -€35.9m | -55.0% |
| Transfer from deferred taxes | 780 | €26,875 | €32,252 | +€5,376 | +20.0% |
| Income taxes | 67/77 | €17,924,719 | €7,894,036 | -€10.0m | -56.0% |
| Taxes | 670/3 | €17,924,719 | €8,006,407 | -€9.9m | -55.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €112,371 | +€112,371 | |
| Profit (loss) for the period | 9904 | €47,398,135 | €21,506,331 | -€25.9m | -54.6% |
| Transfer from tax-exempt reserves | 789 | €927,905 | €2,096,755 | +€1.2m | +126.0% |
| Transfer to tax-exempt reserves | 689 | €1,000,000 | €999,997 | -€3 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,326,040 | €22,603,089 | -€24.7m | -52.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.