CECOSUR: 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.
CECOSUR
Largest movements
- Receivables within one year -€5,307
down €5,307 (-16.4%), from €32,389 to €27,081
of which Trade receivables: -€7,868
- Cash -€1,627
down €1,627 (-8.2%), from €19,869 to €18,243
mainly Tax, wage and social debts (-€9,494) and Net result for the year (-€3,153)
- Tangible fixed assets -€969
down €969 (-38.6%), from €2,512 to €1,543
- Stocks and contracts -€921
down €921 (-22.8%), from €4,037 to €3,116
- Tax, wage and social debts -€9,494
down €9,494 (-99.5%), from €9,547 to €52
- Other debts +€3,736
up €3,736 (+22.1%), from €16,905 to €20,641
- Profit (loss) carried forward -€3,153
down €3,153 (-35.6%), from -€8,864 to -€12,017
- Current portion of long-term debt +€1,470
new in 2025: €1,470
- Trade debts -€1,060
down €1,060 (-13.5%), from €7,862 to €6,802
- Gross operating margin +€22,513
up €22,513, from -€6,034 to €16,479
- Write-downs +€15,075
new in 2025: €15,075
- Other operating charges +€1,300
up €1,300 (+120%), from €1,087 to €2,387
- Taxes +€659
up €659 (+310%), from €212 to €871
- Financial charges -€294
down €294 (-63.3%), from €465 to €171
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 | €59,772 | €51,271 | -€8,501 | -14.2% |
| Fixed assets | 21/28 | €2,512 | €1,543 | -€969 | -38.6% |
| Tangible fixed assets | 22/27 | €2,512 | €1,543 | -€969 | -38.6% |
| Furniture and vehicles | 24 | €2,512 | €1,543 | -€969 | -38.6% |
| Current assets | 29/58 | €57,261 | €49,728 | -€7,532 | -13.2% |
| Stocks and contracts in progress | 3 | €4,037 | €3,116 | -€921 | -22.8% |
| Stocks | 30/36 | €4,037 | €3,116 | -€921 | -22.8% |
| Amounts receivable within one year | 40/41 | €32,389 | €27,081 | -€5,307 | -16.4% |
| Trade receivables | 40 | €32,269 | €24,401 | -€7,868 | -24.4% |
| Other amounts receivable | 41 | €119 | €2,680 | +€2,560 | +2,145% |
| Cash at bank and in hand | 54/58 | €19,869 | €18,243 | -€1,627 | -8.2% |
| Deferred charges and accrued income | 490/1 | €966 | €1,289 | +€323 | +33.4% |
| Total equity and liabilities | 10/49 | €59,772 | €51,271 | -€8,501 | -14.2% |
| Equity | 10/15 | €25,459 | €22,306 | -€3,153 | -12.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,122 | €28,122 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €26,262 | €28,122 | +€1,860 | +7.1% |
| Profit (loss) carried forward | 14 | -€8,864 | -€12,017 | -€3,153 | -35.6% |
| Amounts payable | 17/49 | €34,314 | €28,966 | -€5,348 | -15.6% |
| Amounts payable within one year | 42/48 | €34,314 | €28,966 | -€5,348 | -15.6% |
| Current portion of amounts payable after more than one year | 42 | - | €1,470 | +€1,470 | |
| Trade debts | 44 | €7,862 | €6,802 | -€1,060 | -13.5% |
| Suppliers | 440/4 | €7,862 | €6,802 | -€1,060 | -13.5% |
| Taxes, remuneration and social security | 45 | €9,547 | €52 | -€9,494 | -99.5% |
| Taxes | 450/3 | €9,547 | €52 | -€9,494 | -99.5% |
| Other amounts payable | 47/48 | €16,905 | €20,641 | +€3,736 | +22.1% |
| Non-recurring operating income | 76A | - | €1,852 | +€1,852 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,066 | €969 | -€97 | -9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,075 | +€15,075 | |
| Other operating charges | 640/8 | €1,087 | €2,387 | +€1,300 | +120% |
| Non-recurring operating charges | 66A | €0 | €162 | +€162 | +134,983% |
| Gross operating margin | 9900 | -€6,034 | €16,479 | +€22,513 | |
| Operating profit (loss) | 9901 | -€8,187 | -€2,114 | +€6,073 | +74.2% |
| Financial income | 75/76B | €0 | €2 | +€2 | +23,900% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +23,900% |
| Financial charges | 65/66B | €465 | €171 | -€294 | -63.3% |
| Recurring financial charges | 65 | €465 | €171 | -€294 | -63.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,652 | -€2,282 | +€6,369 | +73.6% |
| Income taxes | 67/77 | €212 | €871 | +€659 | +310% |
| Profit (loss) for the period | 9904 | -€8,864 | -€3,153 | +€5,711 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,864 | -€3,153 | +€5,711 | +64.4% |
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.