CEC MANAGEMENT: 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.
CEC MANAGEMENT
Largest movements
- Receivables within one year -€12,165
down €12,165 (-67.9%), from €17,911 to €5,746
of which Trade receivables: -€12,705
- Debts after one year -€18,000
down €18,000 (-8.1%), from €223,500 to €205,500
- Reserves +€7,426
up €7,426 (+20.5%), from €36,270 to €43,696
of which Distributable reserves: +€7,426
- Tax, wage and social debts -€7,407
down €7,407 (-31.0%), from €23,887 to €16,480
- Other debts +€4,050
up €4,050 (+22.5%), from €18,000 to €22,050
- Gross operating margin +€3,333
up €3,333 (+23.8%), from €14,013 to €17,346
- Taxes +€2,398
up €2,398 (+58.8%), from €4,080 to €6,478
- Financial income +€644
new in 2025: €644
- Financial charges -€380
down €380 (-12.7%), from €2,983 to €2,603
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 | €322,226 | €306,131 | -€16,095 | -5.0% |
| Fixed assets | 21/28 | €278,448 | €277,444 | -€1,004 | -0.4% |
| Tangible fixed assets | 22/27 | €8,448 | €7,444 | -€1,004 | -11.9% |
| Plant, machinery and equipment | 23 | €1,643 | €1,364 | -€279 | -17.0% |
| Furniture and vehicles | 24 | €714 | €384 | -€330 | -46.2% |
| Other tangible fixed assets | 26 | €6,091 | €5,696 | -€395 | -6.5% |
| Financial fixed assets | 28 | €270,000 | €270,000 | = | 0.0% |
| Current assets | 29/58 | €43,778 | €28,687 | -€15,091 | -34.5% |
| Amounts receivable after more than one year | 29 | €10,000 | €8,000 | -€2,000 | -20.0% |
| Other amounts receivable | 291 | €10,000 | €8,000 | -€2,000 | -20.0% |
| Amounts receivable within one year | 40/41 | €17,911 | €5,746 | -€12,165 | -67.9% |
| Trade receivables | 40 | €13,655 | €950 | -€12,705 | -93.0% |
| Other amounts receivable | 41 | €4,256 | €4,796 | +€540 | +12.7% |
| Cash at bank and in hand | 54/58 | €14,606 | €13,653 | -€953 | -6.5% |
| Deferred charges and accrued income | 490/1 | €1,261 | €1,288 | +€27 | +2.1% |
| Total equity and liabilities | 10/49 | €322,226 | €306,131 | -€16,095 | -5.0% |
| Equity | 10/15 | €53,075 | €60,501 | +€7,426 | +14.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €36,270 | €43,696 | +€7,426 | +20.5% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €250 | €250 | = | 0.0% |
| Distributable reserves | 133 | €36,020 | €43,446 | +€7,426 | +20.6% |
| Profit (loss) carried forward | 14 | €14,305 | €14,305 | = | 0.0% |
| Amounts payable | 17/49 | €269,151 | €245,630 | -€23,521 | -8.7% |
| Amounts payable after more than one year | 17 | €223,500 | €205,500 | -€18,000 | -8.1% |
| Other amounts payable | 178/9 | €223,500 | €205,500 | -€18,000 | -8.1% |
| Amounts payable within one year | 42/48 | €45,651 | €40,130 | -€5,521 | -12.1% |
| Trade debts | 44 | €3,764 | €1,600 | -€2,164 | -57.5% |
| Suppliers | 440/4 | €3,764 | €1,600 | -€2,164 | -57.5% |
| Taxes, remuneration and social security | 45 | €23,887 | €16,480 | -€7,407 | -31.0% |
| Taxes | 450/3 | €23,887 | €16,480 | -€7,407 | -31.0% |
| Other amounts payable | 47/48 | €18,000 | €22,050 | +€4,050 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,091 | €1,003 | -€88 | -8.1% |
| Other operating charges | 640/8 | €482 | €480 | -€2 | -0.4% |
| Gross operating margin | 9900 | €14,013 | €17,346 | +€3,333 | +23.8% |
| Operating profit (loss) | 9901 | €12,440 | €15,863 | +€3,423 | +27.5% |
| Financial income | 75/76B | - | €644 | +€644 | |
| Recurring financial income | 75 | - | €644 | +€644 | |
| Financial charges | 65/66B | €2,983 | €2,603 | -€380 | -12.7% |
| Recurring financial charges | 65 | €2,983 | €2,603 | -€380 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €9,457 | €13,904 | +€4,447 | +47.0% |
| Income taxes | 67/77 | €4,080 | €6,478 | +€2,398 | +58.8% |
| Profit (loss) for the period | 9904 | €5,377 | €7,426 | +€2,049 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,377 | €7,426 | +€2,049 | +38.1% |
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 4 October 2026 via checked.be.