Ceceo: 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.
Ceceo
Largest movements
- Cash +€71,186
up €71,186 (+53.1%), from €133,973 to €205,159
mainly Net result for the year (+€47,258) and Depreciation (+€30,767)
- Tangible fixed assets -€30,767
down €30,767 (-21.4%), from €144,026 to €113,259
of which Furniture and vehicles: -€17,808
- Financial fixed assets -€30,000
no longer reported in 2025 (was €30,000)
- Stocks and contracts +€17,946
new in 2025: €17,946
- Debts after one year -€47,454
down €47,454 (-33.3%), from €142,547 to €95,093
- Reserves +€47,258
up €47,258 (+41.6%), from €113,687 to €160,945
- Tax, wage and social debts +€26,128
up €26,128 (+136%), from €19,274 to €45,402
of which Taxes: +€18,657
- Gross operating margin +€7,892
up €7,892 (+3.3%), from €236,735 to €244,627
- Taxes +€3,850
up €3,850 (+30.9%), from €12,454 to €16,304
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 | €310,013 | €337,770 | +€27,757 | +9.0% |
| Fixed assets | 21/28 | €174,026 | €113,259 | -€60,767 | -34.9% |
| Tangible fixed assets | 22/27 | €144,026 | €113,259 | -€30,767 | -21.4% |
| Land and buildings | 22 | €82,818 | €72,495 | -€10,323 | -12.5% |
| Plant, machinery and equipment | 23 | €5,814 | €3,178 | -€2,636 | -45.3% |
| Furniture and vehicles | 24 | €55,394 | €37,586 | -€17,808 | -32.1% |
| Financial fixed assets | 28 | €30,000 | - | -€30,000 | |
| Current assets | 29/58 | €135,987 | €224,511 | +€88,524 | +65.1% |
| Stocks and contracts in progress | 3 | - | €17,946 | +€17,946 | |
| Stocks | 30/36 | - | €17,946 | +€17,946 | |
| Cash at bank and in hand | 54/58 | €133,973 | €205,159 | +€71,186 | +53.1% |
| Deferred charges and accrued income | 490/1 | €2,014 | €1,406 | -€608 | -30.2% |
| Total equity and liabilities | 10/49 | €310,013 | €337,770 | +€27,757 | +9.0% |
| Equity | 10/15 | €118,687 | €165,945 | +€47,258 | +39.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | - | -€5,000 | |
| Issued capital | 100 | €5,000 | - | -€5,000 | |
| Reserves | 13 | €113,687 | €160,945 | +€47,258 | +41.6% |
| Distributable reserves | 133 | €113,687 | €160,945 | +€47,258 | +41.6% |
| Amounts payable | 17/49 | €191,326 | €171,825 | -€19,501 | -10.2% |
| Amounts payable after more than one year | 17 | €142,547 | €95,093 | -€47,454 | -33.3% |
| Financial debts | 170/4 | €142,547 | €95,093 | -€47,454 | -33.3% |
| Amounts payable within one year | 42/48 | €48,779 | €76,732 | +€27,953 | +57.3% |
| Financial debts | 43 | €23,129 | €24,453 | +€1,324 | +5.7% |
| Credit institutions | 430/8 | €23,129 | €24,453 | +€1,324 | +5.7% |
| Trade debts | 44 | €6,376 | €4,357 | -€2,019 | -31.7% |
| Suppliers | 440/4 | €6,376 | €4,357 | -€2,019 | -31.7% |
| Taxes, remuneration and social security | 45 | €19,274 | €45,402 | +€26,128 | +136% |
| Taxes | 450/3 | €17,098 | €35,755 | +€18,657 | +109% |
| Remuneration and social security | 454/9 | €2,176 | €9,647 | +€7,471 | +343% |
| Other amounts payable | 47/48 | - | €2,520 | +€2,520 | |
| Non-recurring operating income | 76A | €3,586 | €3,379 | -€207 | -5.8% |
| Remuneration, social security and pensions | 62 | €139,647 | €140,412 | +€765 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,828 | €30,767 | -€61 | -0.2% |
| Other operating charges | 640/8 | €1,987 | €542 | -€1,445 | -72.7% |
| Gross operating margin | 9900 | €236,735 | €244,627 | +€7,892 | +3.3% |
| Operating profit (loss) | 9901 | €64,273 | €72,906 | +€8,633 | +13.4% |
| Financial charges | 65/66B | €10,597 | €9,344 | -€1,253 | -11.8% |
| Recurring financial charges | 65 | €10,597 | €9,344 | -€1,253 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €53,676 | €63,562 | +€9,886 | +18.4% |
| Income taxes | 67/77 | €12,454 | €16,304 | +€3,850 | +30.9% |
| Profit (loss) for the period | 9904 | €41,222 | €47,258 | +€6,036 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,222 | €47,258 | +€6,036 | +14.6% |
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 16 October 2026 via checked.be.