Cebri: 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.
Cebri
Largest movements
- Tangible fixed assets +€982,840
up €982,840 (+172%), from €571,142 to €1.6m
of which Assets under construction and advance payments: +€986,894
- Cash -€54,331
down €54,331 (-94.2%), from €57,694 to €3,364
mainly Investment in fixed assets (net) (-€1.0m) and Smaller working-capital items (-€1,644)
- Other debts +€438,793
up €438,793 (+1,780,817%), from €25 to €438,818
- Debts after one year +€338,357
up €338,357 (+97.8%), from €346,010 to €684,367
- Current portion of long-term debt +€62,465
up €62,465 (+140%), from €44,645 to €107,111
- Trade debts +€52,841
up €52,841 (+94.5%), from €55,938 to €108,779
- Profit (loss) carried forward +€24,847
up €24,847 (+31.1%), from €79,929 to €104,776
- Financial charges +€47,409
up €47,409 (+643%), from €7,373 to €54,782
- Gross operating margin +€31,580
up €31,580 (+42.7%), from €74,027 to €105,607
- Other operating charges -€13,805
down €13,805 (-94.7%), from €14,579 to €774
- Depreciation -€2,726
down €2,726 (-13.0%), from €21,046 to €18,320
- Taxes -€1,286
down €1,286 (-15.7%), from €8,179 to €6,894
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 | €653,651 | €1,568,631 | +€914,980 | +140% |
| Fixed assets | 21/28 | €571,142 | €1,553,982 | +€982,840 | +172% |
| Tangible fixed assets | 22/27 | €571,142 | €1,553,982 | +€982,840 | +172% |
| Land and buildings | 22 | €188,340 | €178,220 | -€10,120 | -5.4% |
| Plant, machinery and equipment | 23 | €5,493 | €0 | -€5,493 | -100% |
| Furniture and vehicles | 24 | €0 | €11,559 | +€11,559 | |
| Assets under construction and advance payments | 27 | €377,309 | €1,364,203 | +€986,894 | +262% |
| Current assets | 29/58 | €82,509 | €14,649 | -€67,860 | -82.2% |
| Amounts receivable within one year | 40/41 | €18,299 | €5,449 | -€12,850 | -70.2% |
| Trade receivables | 40 | €18,295 | €5,445 | -€12,850 | -70.2% |
| Other amounts receivable | 41 | €4 | €4 | = | 0.0% |
| Current investments | 50/53 | €4,952 | €4,952 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €57,694 | €3,364 | -€54,331 | -94.2% |
| Deferred charges and accrued income | 490/1 | €1,563 | €884 | -€679 | -43.5% |
| Total equity and liabilities | 10/49 | €653,651 | €1,568,631 | +€914,980 | +140% |
| Equity | 10/15 | €176,996 | €201,843 | +€24,847 | +14.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €78,475 | €78,475 | = | 0.0% |
| Non-distributable reserves | 130/1 | €174 | €174 | = | 0.0% |
| Reserves not available under the articles | 1311 | €174 | €174 | = | 0.0% |
| Distributable reserves | 133 | €78,302 | €78,302 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,929 | €104,776 | +€24,847 | +31.1% |
| Amounts payable | 17/49 | €476,655 | €1,366,788 | +€890,133 | +187% |
| Amounts payable after more than one year | 17 | €346,010 | €684,367 | +€338,357 | +97.8% |
| Financial debts | 170/4 | €346,010 | €684,367 | +€338,357 | +97.8% |
| Amounts payable within one year | 42/48 | €130,645 | €682,421 | +€551,776 | +422% |
| Current portion of amounts payable after more than one year | 42 | €44,645 | €107,111 | +€62,465 | +140% |
| Trade debts | 44 | €55,938 | €108,779 | +€52,841 | +94.5% |
| Suppliers | 440/4 | €55,938 | €108,779 | +€52,841 | +94.5% |
| Advances received on contracts in progress | 46 | €1,500 | - | -€1,500 | |
| Taxes, remuneration and social security | 45 | €28,537 | €27,714 | -€823 | -2.9% |
| Taxes | 450/3 | €25,137 | €20,914 | -€4,223 | -16.8% |
| Remuneration and social security | 454/9 | €3,400 | €6,800 | +€3,400 | +100% |
| Other amounts payable | 47/48 | €25 | €438,818 | +€438,793 | +1,780,817% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,046 | €18,320 | -€2,726 | -13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €45 | +€45 | |
| Other operating charges | 640/8 | €14,579 | €774 | -€13,805 | -94.7% |
| Gross operating margin | 9900 | €74,027 | €105,607 | +€31,580 | +42.7% |
| Operating profit (loss) | 9901 | €38,401 | €86,467 | +€48,066 | +125% |
| Financial income | 75/76B | €0 | €56 | +€56 | +559,300% |
| Recurring financial income | 75 | €0 | €56 | +€56 | +559,300% |
| Financial charges | 65/66B | €7,373 | €54,782 | +€47,409 | +643% |
| Recurring financial charges | 65 | €7,373 | €54,782 | +€47,409 | +643% |
| Profit (loss) for the period before taxes | 9903 | €31,028 | €31,741 | +€714 | +2.3% |
| Income taxes | 67/77 | €8,179 | €6,894 | -€1,286 | -15.7% |
| Profit (loss) for the period | 9904 | €22,848 | €24,847 | +€1,999 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,848 | €24,847 | +€1,999 | +8.7% |
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 13 October 2026 via checked.be.