CECAF: 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.
CECAF
Largest movements
- Receivables within one year -€110,500
no longer reported in 2024 (was €110,500)
- Receivables after one year -€55,020
down €55,020 (-5.5%), from €1.0m to €947,437
- Tangible fixed assets -€23,563
down €23,563 (-20.8%), from €113,133 to €89,570
of which Furniture and vehicles: -€22,100
- Current investments +€18,909
up €18,909 (+5.1%), from €370,916 to €389,825
- Trade debts -€109,712
down €109,712 (-99.3%), from €110,529 to €817
- Profit (loss) carried forward -€43,011
down €43,011 (-16.1%), from €267,763 to €224,752
- Debts after one year -€20,737
down €20,737 (-26.4%), from €78,697 to €57,960
- Other debts -€16,896
no longer reported in 2024 (was €16,896)
- Depreciation +€11,569
up €11,569 (+96.5%), from €11,993 to €23,563
- Financial income +€7,936
up €7,936 (+42.5%), from €18,661 to €26,598
- Other operating charges -€6,606
down €6,606 (-73.3%), from €9,014 to €2,409
- Taxes -€2,815
down €2,815 (-3.5%), from €80,814 to €77,999
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,630,764 | €1,446,799 | -€183,965 | -11.3% |
| Fixed assets | 21/28 | €113,133 | €89,570 | -€23,563 | -20.8% |
| Tangible fixed assets | 22/27 | €113,133 | €89,570 | -€23,563 | -20.8% |
| Land and buildings | 22 | €14,500 | €13,037 | -€1,463 | -10.1% |
| Furniture and vehicles | 24 | €98,633 | €76,533 | -€22,100 | -22.4% |
| Current assets | 29/58 | €1,517,631 | €1,357,229 | -€160,402 | -10.6% |
| Amounts receivable after more than one year | 29 | €1,002,457 | €947,437 | -€55,020 | -5.5% |
| Other amounts receivable | 291 | €1,002,457 | €947,437 | -€55,020 | -5.5% |
| Amounts receivable within one year | 40/41 | €110,500 | - | -€110,500 | |
| Trade receivables | 40 | €110,500 | - | -€110,500 | |
| Current investments | 50/53 | €370,916 | €389,825 | +€18,909 | +5.1% |
| Cash at bank and in hand | 54/58 | €32,543 | €17,292 | -€15,250 | -46.9% |
| Deferred charges and accrued income | 490/1 | €1,216 | €2,675 | +€1,459 | +120.0% |
| Total equity and liabilities | 10/49 | €1,630,764 | €1,446,799 | -€183,965 | -11.3% |
| Equity | 10/15 | €1,377,401 | €1,335,511 | -€41,890 | -3.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,097,238 | €1,098,360 | +€1,122 | +0.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,095,378 | €1,096,500 | +€1,122 | +0.1% |
| Profit (loss) carried forward | 14 | €267,763 | €224,752 | -€43,011 | -16.1% |
| Amounts payable | 17/49 | €253,363 | €111,288 | -€142,075 | -56.1% |
| Amounts payable after more than one year | 17 | €78,697 | €57,960 | -€20,737 | -26.4% |
| Financial debts | 170/4 | €78,697 | €57,960 | -€20,737 | -26.4% |
| Amounts payable within one year | 42/48 | €174,666 | €53,328 | -€121,338 | -69.5% |
| Current portion of amounts payable after more than one year | 42 | €21,704 | €21,637 | -€67 | -0.3% |
| Trade debts | 44 | €110,529 | €817 | -€109,712 | -99.3% |
| Suppliers | 440/4 | €110,529 | €817 | -€109,712 | -99.3% |
| Taxes, remuneration and social security | 45 | €25,537 | €30,874 | +€5,337 | +20.9% |
| Taxes | 450/3 | €25,537 | €30,874 | +€5,337 | +20.9% |
| Other amounts payable | 47/48 | €16,896 | - | -€16,896 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,993 | €23,563 | +€11,569 | +96.5% |
| Other operating charges | 640/8 | €9,014 | €2,409 | -€6,606 | -73.3% |
| Non-recurring operating charges | 66A | - | €1,029 | +€1,029 | |
| Gross operating margin | 9900 | €263,515 | €261,977 | -€1,538 | -0.6% |
| Operating profit (loss) | 9901 | €242,508 | €234,976 | -€7,531 | -3.1% |
| Financial income | 75/76B | €18,661 | €26,598 | +€7,936 | +42.5% |
| Recurring financial income | 75 | €18,661 | €26,598 | +€7,936 | +42.5% |
| Financial charges | 65/66B | €2,886 | €4,543 | +€1,657 | +57.4% |
| Recurring financial charges | 65 | €2,886 | €4,374 | +€1,488 | +51.5% |
| Non-recurring financial charges | 66B | - | €169 | +€169 | |
| Profit (loss) for the period before taxes | 9903 | €258,282 | €257,031 | -€1,251 | -0.5% |
| Income taxes | 67/77 | €80,814 | €77,999 | -€2,815 | -3.5% |
| Profit (loss) for the period | 9904 | €177,468 | €179,032 | +€1,564 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €177,468 | €179,032 | +€1,564 | +0.9% |
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 30 September 2026 via checked.be.