CECON Systems: 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.
CECON Systems
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+2001.1%), from €52,049 to €1.1m
of which Assets under construction and advance payments: +€1.0m
- Receivables within one year +€94,687
up €94,687 (+32.9%), from €287,576 to €382,262
of which Other amounts receivable: +€139,217
- Cash +€53,926
up €53,926 (+176.8%), from €30,497 to €84,422
mainly Debts after one year (+€941,423) and Short-term financial debts (+€306,000)
- Debts after one year +€941,423
up €941,423, from €0 to €941,423
- Short-term financial debts +€306,000
new in 2025: €306,000
- Other debts -€74,648
down €74,648 (-100.0%), from €74,648 to €0
- Accrued charges and deferred income +€55,009
up €55,009 (+95.1%), from €57,821 to €112,830
- Trade debts -€44,049
down €44,049 (-54.8%), from €80,344 to €36,294
- Gross operating margin +€54,046
up €54,046 (+53.2%), from €101,657 to €155,703
- Taxes +€30,022
up €30,022 (+1033.5%), from €2,905 to €32,927
- Financial charges +€3,939
up €3,939 (+88.8%), from €4,436 to €8,375
- Depreciation +€3,862
up €3,862 (+31.5%), from €12,263 to €16,125
- Other operating charges +€3,240
up €3,240 (+165.4%), from €1,959 to €5,199
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 | €453,664 | €1,646,874 | +€1.2m | +263.0% |
| Fixed assets | 21/28 | €55,649 | €1,097,196 | +€1.0m | +1871.6% |
| Tangible fixed assets | 22/27 | €52,049 | €1,093,596 | +€1.0m | +2001.1% |
| Plant, machinery and equipment | 23 | €6,724 | €17,339 | +€10,614 | +157.8% |
| Furniture and vehicles | 24 | €40,440 | €43,007 | +€2,567 | +6.3% |
| Leasing and similar rights | 25 | €4,885 | €0 | -€4,885 | -100.0% |
| Assets under construction and advance payments | 27 | - | €1,033,250 | +€1.0m | |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €398,014 | €549,679 | +€151,664 | +38.1% |
| Amounts receivable after more than one year | 29 | - | €6,347 | +€6,347 | |
| Other amounts receivable | 291 | - | €6,347 | +€6,347 | |
| Stocks and contracts in progress | 3 | €25,383 | €34,628 | +€9,245 | +36.4% |
| Stocks | 30/36 | €25,383 | €34,628 | +€9,245 | +36.4% |
| Amounts receivable within one year | 40/41 | €287,576 | €382,262 | +€94,687 | +32.9% |
| Trade receivables | 40 | €172,128 | €127,597 | -€44,531 | -25.9% |
| Other amounts receivable | 41 | €115,448 | €254,666 | +€139,217 | +120.6% |
| Cash at bank and in hand | 54/58 | €30,497 | €84,422 | +€53,926 | +176.8% |
| Deferred charges and accrued income | 490/1 | €54,559 | €42,019 | -€12,540 | -23.0% |
| Total equity and liabilities | 10/49 | €453,664 | €1,646,874 | +€1.2m | +263.0% |
| Equity | 10/15 | €233,214 | €193,805 | -€39,409 | -16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €133,356 | €133,356 | = | 0.0% |
| Distributable reserves | 133 | €133,356 | €133,356 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,258 | €41,849 | -€39,409 | -48.5% |
| Amounts payable | 17/49 | €220,449 | €1,453,069 | +€1.2m | +559.1% |
| Amounts payable after more than one year | 17 | €0 | €941,423 | +€941,423 | |
| Financial debts | 170/4 | €0 | €941,423 | +€941,423 | |
| Amounts payable within one year | 42/48 | €162,628 | €398,816 | +€236,188 | +145.2% |
| Current portion of amounts payable after more than one year | 42 | €4,261 | €29,155 | +€24,893 | +584.2% |
| Financial debts | 43 | - | €306,000 | +€306,000 | |
| Credit institutions | 430/8 | - | €306,000 | +€306,000 | |
| Trade debts | 44 | €80,344 | €36,294 | -€44,049 | -54.8% |
| Suppliers | 440/4 | €80,344 | €36,294 | -€44,049 | -54.8% |
| Taxes, remuneration and social security | 45 | €3,375 | €27,367 | +€23,992 | +710.9% |
| Taxes | 450/3 | €3,375 | €27,367 | +€23,992 | +710.9% |
| Other amounts payable | 47/48 | €74,648 | €0 | -€74,648 | -100.0% |
| Accrued charges and deferred income | 492/3 | €57,821 | €112,830 | +€55,009 | +95.1% |
| Non-recurring operating income | 76A | - | €715 | +€715 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,263 | €16,125 | +€3,862 | +31.5% |
| Other operating charges | 640/8 | €1,959 | €5,199 | +€3,240 | +165.4% |
| Gross operating margin | 9900 | €101,657 | €155,703 | +€54,046 | +53.2% |
| Operating profit (loss) | 9901 | €87,434 | €134,378 | +€46,944 | +53.7% |
| Financial income | 75/76B | €1,165 | €3,774 | +€2,609 | +223.9% |
| Recurring financial income | 75 | €1,165 | €3,774 | +€2,609 | +223.9% |
| Financial charges | 65/66B | €4,436 | €8,375 | +€3,939 | +88.8% |
| Recurring financial charges | 65 | €4,436 | €8,375 | +€3,939 | +88.8% |
| Profit (loss) for the period before taxes | 9903 | €84,163 | €129,777 | +€45,613 | +54.2% |
| Income taxes | 67/77 | €2,905 | €32,927 | +€30,022 | +1033.5% |
| Profit (loss) for the period | 9904 | €81,258 | €96,849 | +€15,591 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €81,258 | €96,849 | +€15,591 | +19.2% |
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 2 October 2026 via checked.be.