CEBO INVEST: 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.
CEBO INVEST
Largest movements
- Receivables within one year -€64,776
down €64,776 (-53.2%), from €121,858 to €57,082
of which Trade receivables: -€78,122
- Deferred charges and accrued income +€24,000
up €24,000 (+33.3%), from €72,000 to €96,000
- Tangible fixed assets -€19,558
down €19,558 (-2.9%), from €680,600 to €661,042
of which Land and buildings: -€38,237
- Tax, wage and social debts -€42,925
down €42,925 (-45.8%), from €93,661 to €50,736
- Reserves +€42,868
up €42,868 (+10.3%), from €415,188 to €458,055
- Debts after one year -€38,713
down €38,713 (-15.1%), from €256,833 to €218,120
- Current portion of long-term debt -€9,957
down €9,957 (-13.0%), from €76,747 to €66,790
- Gross operating margin +€45,590
up €45,590 (+47.5%), from €96,057 to €141,647
- Financial charges +€12,024
up €12,024 (+127%), from €9,438 to €21,462
- Taxes +€10,139
up €10,139 (+86.7%), from €11,695 to €21,834
- Depreciation +€9,425
up €9,425 (+22.7%), from €41,573 to €50,998
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.
Derived cash bridge
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 | €947,861 | €888,058 | -€59,803 | -6.3% |
| Fixed assets | 21/28 | €680,600 | €661,042 | -€19,558 | -2.9% |
| Tangible fixed assets | 22/27 | €680,600 | €661,042 | -€19,558 | -2.9% |
| Land and buildings | 22 | €678,753 | €640,516 | -€38,237 | -5.6% |
| Plant, machinery and equipment | 23 | €1,848 | €1,145 | -€702 | -38.0% |
| Furniture and vehicles | 24 | - | €19,381 | +€19,381 | |
| Current assets | 29/58 | €267,261 | €227,016 | -€40,244 | -15.1% |
| Amounts receivable after more than one year | 29 | €73,050 | €73,050 | = | 0.0% |
| Other amounts receivable | 291 | €73,050 | €73,050 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €121,858 | €57,082 | -€64,776 | -53.2% |
| Trade receivables | 40 | €87,673 | €9,551 | -€78,122 | -89.1% |
| Other amounts receivable | 41 | €34,186 | €47,531 | +€13,346 | +39.0% |
| Cash at bank and in hand | 54/58 | €353 | €884 | +€532 | +151% |
| Deferred charges and accrued income | 490/1 | €72,000 | €96,000 | +€24,000 | +33.3% |
| Total equity and liabilities | 10/49 | €947,861 | €888,058 | -€59,803 | -6.3% |
| Equity | 10/15 | €463,738 | €506,605 | +€42,868 | +9.2% |
| Contributions | 10/11 | €48,550 | €48,550 | = | 0.0% |
| Reserves | 13 | €415,188 | €458,055 | +€42,868 | +10.3% |
| Distributable reserves | 133 | €415,188 | €458,055 | +€42,868 | +10.3% |
| Amounts payable | 17/49 | €484,123 | €381,453 | -€102,670 | -21.2% |
| Amounts payable after more than one year | 17 | €256,833 | €218,120 | -€38,713 | -15.1% |
| Financial debts | 170/4 | €256,833 | €218,120 | -€38,713 | -15.1% |
| Amounts payable within one year | 42/48 | €227,290 | €163,333 | -€63,957 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €76,747 | €66,790 | -€9,957 | -13.0% |
| Financial debts | 43 | €29,956 | €29,412 | -€543 | -1.8% |
| Credit institutions | 430/8 | €29,956 | €29,412 | -€543 | -1.8% |
| Trade debts | 44 | €21,627 | €14,945 | -€6,682 | -30.9% |
| Suppliers | 440/4 | €21,627 | €14,945 | -€6,682 | -30.9% |
| Taxes, remuneration and social security | 45 | €93,661 | €50,736 | -€42,925 | -45.8% |
| Taxes | 450/3 | €93,661 | €50,736 | -€42,925 | -45.8% |
| Other amounts payable | 47/48 | €5,300 | €1,450 | -€3,850 | -72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,573 | €50,998 | +€9,425 | +22.7% |
| Other operating charges | 640/8 | €7,352 | €7,856 | +€504 | +6.9% |
| Gross operating margin | 9900 | €96,057 | €141,647 | +€45,590 | +47.5% |
| Operating profit (loss) | 9901 | €47,132 | €82,793 | +€35,661 | +75.7% |
| Financial income | 75/76B | €3,581 | €3,371 | -€211 | -5.9% |
| Recurring financial income | 75 | €3,581 | €3,371 | -€211 | -5.9% |
| Financial charges | 65/66B | €9,438 | €21,462 | +€12,024 | +127% |
| Recurring financial charges | 65 | €9,438 | €21,462 | +€12,024 | +127% |
| Profit (loss) for the period before taxes | 9903 | €41,276 | €64,701 | +€23,426 | +56.8% |
| Income taxes | 67/77 | €11,695 | €21,834 | +€10,139 | +86.7% |
| Profit (loss) for the period | 9904 | €29,581 | €42,868 | +€13,287 | +44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,581 | €42,868 | +€13,287 | +44.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.