Cecan: 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.
Cecan
Largest movements
- Receivables within one year +€3.6m
up €3.6m (+198.8%), from €1.8m to €5.5m
- Profit (loss) carried forward +€21.8m
up €21.8m (+16.3%), from €134.1m to €155.9m
- Current portion of long-term debt -€13.0m
down €13.0m (-86.7%), from €15.0m to €2.0m
- Other debts -€9.7m
down €9.7m (-58.0%), from €16.7m to €7.0m
- Debts after one year +€5.0m
up €5.0m (+100.0%), from €5.0m to €10.0m
of which Financial debts: +€10.0m
- Financial income -€76.9m
down €76.9m (-73.8%), from €104.2m to €27.3m
of which Non-recurring financial income: -€91.5m
- Financial charges +€354,026
up €354,026 (+126.1%), from €280,663 to €634,689
- Gross operating margin -€138,112
down €138,112 (-19.7%), from -€700,691 to -€838,803
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 | €232,180,487 | €235,894,401 | +€3.7m | +1.6% |
| Fixed assets | 21/28 | €230,071,855 | €228,053,176 | -€2.0m | -0.9% |
| Financial fixed assets | 28 | €230,071,855 | €228,053,176 | -€2.0m | -0.9% |
| Current assets | 29/58 | €2,108,633 | €7,841,225 | +€5.7m | +271.9% |
| Amounts receivable within one year | 40/41 | €1,834,953 | €5,483,621 | +€3.6m | +198.8% |
| Other amounts receivable | 41 | €1,834,953 | €5,483,621 | +€3.6m | +198.8% |
| Cash at bank and in hand | 54/58 | €273,679 | €2,357,604 | +€2.1m | +761.4% |
| Total equity and liabilities | 10/49 | €232,180,487 | €235,894,401 | +€3.7m | +1.6% |
| Equity | 10/15 | €194,697,636 | €216,509,155 | +€21.8m | +11.2% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €59,336,228 | €59,336,228 | = | 0.0% |
| Non-distributable reserves | 130/1 | €153,299 | €153,299 | = | 0.0% |
| Legal reserve | 130 | €125,000 | €125,000 | = | 0.0% |
| Other | 1319 | €28,299 | €28,299 | = | 0.0% |
| Distributable reserves | 133 | €59,182,929 | €59,182,929 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,111,407 | €155,922,927 | +€21.8m | +16.3% |
| Amounts payable | 17/49 | €37,482,852 | €19,385,246 | -€18.1m | -48.3% |
| Amounts payable after more than one year | 17 | €5,000,000 | €10,000,000 | +€5.0m | +100.0% |
| Financial debts | 170/4 | - | €10,000,000 | +€10.0m | |
| Other amounts payable | 178/9 | €5,000,000 | - | -€5.0m | |
| Amounts payable within one year | 42/48 | €32,359,914 | €9,349,802 | -€23.0m | -71.1% |
| Current portion of amounts payable after more than one year | 42 | €15,000,000 | €2,000,000 | -€13.0m | -86.7% |
| Trade debts | 44 | €674,281 | €338,343 | -€335,938 | -49.8% |
| Suppliers | 440/4 | €674,281 | €338,343 | -€335,938 | -49.8% |
| Other amounts payable | 47/48 | €16,685,633 | €7,011,459 | -€9.7m | -58.0% |
| Accrued charges and deferred income | 492/3 | €122,938 | €35,443 | -€87,494 | -71.2% |
| Other operating charges | 640/8 | €19,439 | €12,419 | -€7,020 | -36.1% |
| Gross operating margin | 9900 | -€700,691 | -€838,803 | -€138,112 | -19.7% |
| Operating profit (loss) | 9901 | -€720,130 | -€851,222 | -€131,092 | -18.2% |
| Financial income | 75/76B | €104,180,380 | €27,297,430 | -€76.9m | -73.8% |
| Recurring financial income | 75 | €9,045,260 | €23,698,320 | +€14.7m | +162.0% |
| Non-recurring financial income | 76B | €95,135,120 | €3,599,111 | -€91.5m | -96.2% |
| Financial charges | 65/66B | €280,663 | €634,689 | +€354,026 | +126.1% |
| Recurring financial charges | 65 | €280,663 | €634,689 | +€354,026 | +126.1% |
| Profit (loss) for the period before taxes | 9903 | €103,179,587 | €25,811,520 | -€77.4m | -75.0% |
| Profit (loss) for the period | 9904 | €103,179,587 | €25,811,520 | -€77.4m | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €103,179,587 | €25,811,520 | -€77.4m | -75.0% |
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 30 September 2026 via checked.be.