CECILIA ADJAZ: 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.
CECILIA ADJAZ
Largest movements
- Cash +€13,042
up €13,042 (+246%), from €5,291 to €18,333
mainly Net result for the year (+€24,052) and Depreciation (+€4,409)
- Receivables within one year +€12,788
up €12,788 (+134%), from €9,569 to €22,357
- Tangible fixed assets -€4,409
down €4,409 (-50.1%), from €8,805 to €4,396
- Reserves +€24,052
up €24,052 (+246%), from €9,762 to €33,815
- Debts after one year -€4,115
down €4,115 (-92.2%), from €4,461 to €346
- Tax, wage and social debts +€1,486
up €1,486 (+64.9%), from €2,290 to €3,776
- Gross operating margin +€14,106
up €14,106 (+73.6%), from €19,160 to €33,265
- Taxes +€4,486
up €4,486 (+86.4%), from €5,190 to €9,676
- Financial income +€4,338
up €4,338 (+295%), from €1,471 to €5,809
of which Non-recurring financial income: +€5,000
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 | €23,983 | €45,086 | +€21,103 | +88.0% |
| Fixed assets | 21/28 | €8,805 | €4,396 | -€4,409 | -50.1% |
| Tangible fixed assets | 22/27 | €8,805 | €4,396 | -€4,409 | -50.1% |
| Furniture and vehicles | 24 | €8,805 | €4,396 | -€4,409 | -50.1% |
| Current assets | 29/58 | €15,178 | €40,690 | +€25,512 | +168% |
| Amounts receivable within one year | 40/41 | €9,569 | €22,357 | +€12,788 | +134% |
| Other amounts receivable | 41 | €9,569 | €22,357 | +€12,788 | +134% |
| Cash at bank and in hand | 54/58 | €5,291 | €18,333 | +€13,042 | +246% |
| Deferred charges and accrued income | 490/1 | €318 | - | -€318 | |
| Total equity and liabilities | 10/49 | €23,983 | €45,086 | +€21,103 | +88.0% |
| Equity | 10/15 | €12,796 | €36,848 | +€24,052 | +188% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €9,762 | €33,815 | +€24,052 | +246% |
| Distributable reserves | 133 | €9,762 | €33,815 | +€24,052 | +246% |
| Profit (loss) carried forward | 14 | €34 | €34 | = | 0.0% |
| Amounts payable | 17/49 | €11,187 | €8,237 | -€2,950 | -26.4% |
| Amounts payable after more than one year | 17 | €4,461 | €346 | -€4,115 | -92.2% |
| Financial debts | 170/4 | €4,461 | €346 | -€4,115 | -92.2% |
| Amounts payable within one year | 42/48 | €6,726 | €7,891 | +€1,165 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €4,049 | €4,115 | +€66 | +1.6% |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Taxes, remuneration and social security | 45 | €2,290 | €3,776 | +€1,486 | +64.9% |
| Taxes | 450/3 | €2,290 | €3,776 | +€1,486 | +64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,409 | €4,409 | = | 0.0% |
| Other operating charges | 640/8 | €667 | €453 | -€215 | -32.2% |
| Gross operating margin | 9900 | €19,160 | €33,265 | +€14,106 | +73.6% |
| Operating profit (loss) | 9901 | €14,083 | €28,404 | +€14,320 | +102% |
| Financial income | 75/76B | €1,471 | €5,809 | +€4,338 | +295% |
| Recurring financial income | 75 | €1,471 | €809 | -€662 | -45.0% |
| Non-recurring financial income | 76B | - | €5,000 | +€5,000 | |
| Financial charges | 65/66B | €602 | €484 | -€118 | -19.6% |
| Recurring financial charges | 65 | €602 | €484 | -€118 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €14,952 | €33,729 | +€18,777 | +126% |
| Income taxes | 67/77 | €5,190 | €9,676 | +€4,486 | +86.4% |
| Profit (loss) for the period | 9904 | €9,762 | €24,052 | +€14,290 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | €9,762 | €24,052 | +€14,290 | +146% |
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.