CECE: 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.
CECE
Largest movements
- Current investments +€339,153
new in 2025: €339,153
- Tangible fixed assets +€162,314
up €162,314 (+1567.9%), from €10,352 to €172,666
of which Land and buildings: +€159,601
- Financial fixed assets -€140,000
down €140,000 (-11.9%), from €1.2m to €1.0m
- Cash +€76,341
up €76,341 (+46.8%), from €163,038 to €239,379
mainly Net result for the year (+€1.0m) and Tax, wage and social debts (+€141,651)
- Receivables within one year -€70,724
down €70,724 (-100.0%), from €70,724 to €0
of which Trade receivables: -€70,703
- Reserves +€176,948
up €176,948 (+15.8%), from €1.1m to €1.3m
- Tax, wage and social debts +€141,651
up €141,651 (+49.2%), from €287,681 to €429,332
- Other debts +€43,139
up €43,139 (+211.7%), from €20,378 to €63,517
- Gross operating margin +€33,944
up €33,944 (+8.0%), from €424,245 to €458,189
- Financial income +€22,181
up €22,181 (+2.5%), from €901,440 to €923,621
of which Financial income: +€22,181
- Taxes -€8,993
down €8,993 (-2.5%), from €353,824 to €344,831
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 | €1,426,901 | €1,795,713 | +€368,813 | +25.8% |
| Fixed assets | 21/28 | €1,191,602 | €1,213,916 | +€22,314 | +1.9% |
| Tangible fixed assets | 22/27 | €10,352 | €172,666 | +€162,314 | +1567.9% |
| Land and buildings | 22 | - | €159,601 | +€159,601 | |
| Furniture and vehicles | 24 | €4,435 | €2,006 | -€2,429 | -54.8% |
| Other tangible fixed assets | 26 | €5,917 | €11,059 | +€5,142 | +86.9% |
| Financial fixed assets | 28 | €1,181,250 | €1,041,250 | -€140,000 | -11.9% |
| Current assets | 29/58 | €235,299 | €581,797 | +€346,498 | +147.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €70,724 | €0 | -€70,724 | -100.0% |
| Trade receivables | 40 | €70,703 | €0 | -€70,703 | -100.0% |
| Other amounts receivable | 41 | €21 | €0 | -€21 | -100.0% |
| Current investments | 50/53 | - | €339,153 | +€339,153 | |
| Cash at bank and in hand | 54/58 | €163,038 | €239,379 | +€76,341 | +46.8% |
| Deferred charges and accrued income | 490/1 | €1,537 | €3,265 | +€1,728 | +112.4% |
| Total equity and liabilities | 10/49 | €1,426,901 | €1,795,713 | +€368,813 | +25.8% |
| Equity | 10/15 | €1,117,756 | €1,294,704 | +€176,948 | +15.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,116,756 | €1,293,704 | +€176,948 | +15.8% |
| Distributable reserves | 133 | €1,116,756 | €1,293,704 | +€176,948 | +15.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €309,144 | €501,009 | +€191,865 | +62.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €309,144 | €501,009 | +€191,865 | +62.1% |
| Trade debts | 44 | €1,086 | €8,161 | +€7,075 | +651.6% |
| Suppliers | 440/4 | €1,086 | €8,161 | +€7,075 | +651.6% |
| Taxes, remuneration and social security | 45 | €287,681 | €429,332 | +€141,651 | +49.2% |
| Taxes | 450/3 | €287,681 | €429,332 | +€141,651 | +49.2% |
| Other amounts payable | 47/48 | €20,378 | €63,517 | +€43,139 | +211.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,572 | €4,555 | +€1,983 | +77.1% |
| Other operating charges | 640/8 | €778 | €1,005 | +€227 | +29.2% |
| Gross operating margin | 9900 | €424,245 | €458,189 | +€33,944 | +8.0% |
| Operating profit (loss) | 9901 | €420,895 | €452,629 | +€31,734 | +7.5% |
| Financial income | 75/76B | €901,440 | €923,621 | +€22,181 | +2.5% |
| Recurring financial income | 75 | €190 | €22,371 | +€22,181 | +11689.8% |
| Non-recurring financial income | 76B | €901,250 | €901,250 | = | 0.0% |
| Financial charges | 65/66B | €5,517 | €4,472 | -€1,045 | -18.9% |
| Recurring financial charges | 65 | €5,517 | €4,472 | -€1,045 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €1,316,818 | €1,371,778 | +€54,960 | +4.2% |
| Income taxes | 67/77 | €353,824 | €344,831 | -€8,993 | -2.5% |
| Profit (loss) for the period | 9904 | €962,994 | €1,026,948 | +€63,953 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €962,994 | €1,026,948 | +€63,953 | +6.6% |
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 10 October 2026 via checked.be.