CECO: 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.
CECO
Largest movements
- Current investments +€1.2m
up €1.2m (+47.1%), from €2.6m to €3.8m
- Other debts +€1.4m
up €1.4m (+181%), from €780,000 to €2.2m
- Financial income -€5.4m
down €5.4m (-99.7%), from €5.4m to €13,548
of which Non-recurring financial income: -€5.4m
- Gross operating margin -€907,096
down €907,096 (-24.1%), from €3.8m to €2.9m
- Taxes -€578,363
down €578,363 (-70.1%), from €825,000 to €246,637
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 | €62,174,438 | €63,881,457 | +€1.7m | +2.7% |
| Fixed assets | 21/28 | €58,744,050 | €58,708,147 | -€35,904 | -0.1% |
| Financial fixed assets | 28 | €58,744,050 | €58,708,147 | -€35,904 | -0.1% |
| Current assets | 29/58 | €3,430,388 | €5,173,310 | +€1.7m | +50.8% |
| Amounts receivable within one year | 40/41 | €781,746 | €718,493 | -€63,254 | -8.1% |
| Other amounts receivable | 41 | €781,746 | €718,493 | -€63,254 | -8.1% |
| Current investments | 50/53 | €2,564,014 | €3,771,952 | +€1.2m | +47.1% |
| Cash at bank and in hand | 54/58 | €84,628 | €682,865 | +€598,237 | +707% |
| Total equity and liabilities | 10/49 | €62,174,438 | €63,881,457 | +€1.7m | +2.7% |
| Equity | 10/15 | €61,394,438 | €61,691,457 | +€297,019 | +0.5% |
| Contributions | 10/11 | €28,118,563 | €28,118,563 | = | 0.0% |
| Capital | 10 | €28,118,563 | €28,118,563 | = | 0.0% |
| Issued capital | 100 | €28,118,563 | €28,118,563 | = | 0.0% |
| Reserves | 13 | €33,272,856 | €33,569,856 | +€297,000 | +0.9% |
| Non-distributable reserves | 130/1 | €2,811,856 | €2,811,856 | = | 0.0% |
| Legal reserve | 130 | €2,811,856 | €2,811,856 | = | 0.0% |
| Distributable reserves | 133 | €30,461,000 | €30,758,000 | +€297,000 | +1.0% |
| Profit (loss) carried forward | 14 | €3,020 | €3,038 | +€19 | +0.6% |
| Amounts payable | 17/49 | €780,000 | €2,190,000 | +€1.4m | +181% |
| Amounts payable within one year | 42/48 | €780,000 | €2,190,000 | +€1.4m | +181% |
| Other amounts payable | 47/48 | €780,000 | €2,190,000 | +€1.4m | +181% |
| Non-recurring operating income | 76A | €748,288 | - | -€748,288 | |
| Other operating charges | 640/8 | €74,068 | €96,193 | +€22,125 | +29.9% |
| Gross operating margin | 9900 | €3,760,634 | €2,853,538 | -€907,096 | -24.1% |
| Operating profit (loss) | 9901 | €3,686,565 | €2,757,345 | -€929,221 | -25.2% |
| Financial income | 75/76B | €5,417,440 | €13,548 | -€5.4m | -99.7% |
| Recurring financial income | 75 | €39,213 | €13,548 | -€25,665 | -65.4% |
| Non-recurring financial income | 76B | €5,378,227 | - | -€5.4m | |
| Financial charges | 65/66B | €28,584 | €37,237 | +€8,653 | +30.3% |
| Recurring financial charges | 65 | €28,584 | €1,334 | -€27,251 | -95.3% |
| Non-recurring financial charges | 66B | - | €35,904 | +€35,904 | |
| Profit (loss) for the period before taxes | 9903 | €9,075,421 | €2,733,655 | -€6.3m | -69.9% |
| Income taxes | 67/77 | €825,000 | €246,637 | -€578,363 | -70.1% |
| Profit (loss) for the period | 9904 | €8,250,421 | €2,487,019 | -€5.8m | -69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,250,421 | €2,487,019 | -€5.8m | -69.9% |
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 13 October 2026 via checked.be.