CED SERVICES: 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.
CED SERVICES
Largest movements
- Stocks and contracts +€231,785
up €231,785 (+98.6%), from €234,987 to €466,772
- Cash -€61,425
down €61,425 (-91.7%), from €66,953 to €5,527
- Receivables within one year -€30,610
down €30,610 (-14.6%), from €209,153 to €178,543
of which Other amounts receivable: -€66,214
- Tangible fixed assets +€23,923
up €23,923 (+143.9%), from €16,626 to €40,550
of which Furniture and vehicles: +€17,283
- Debts after one year +€184,931
up €184,931 (+186.3%), from €99,286 to €284,216
- Trade debts -€115,430
down €115,430 (-96.5%), from €119,576 to €4,146
- Reserves +€76,950
up €76,950 (+38.7%), from €199,060 to €276,010
of which Distributable reserves: +€76,950
- Tax, wage and social debts -€33,436
down €33,436 (-70.3%), from €47,576 to €14,140
of which Taxes: -€32,845
- Short-term financial debts +€26,750
up €26,750 (+627.4%), from €4,264 to €31,014
- Gross operating margin -€7,828
down €7,828 (-4.1%), from €191,313 to €183,485
- Taxes -€4,908
down €4,908 (-13.2%), from €37,257 to €32,348
- Financial charges +€4,720
up €4,720 (+29.3%), from €16,091 to €20,811
of which Financial charges: +€9,376
- Other operating charges +€2,993
up €2,993 (+128.8%), from €2,324 to €5,317
- Depreciation +€2,760
up €2,760 (+27.2%), from €10,149 to €12,910
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €535,022 | €697,519 | +€162,497 | +30.4% |
| Fixed assets | 21/28 | €22,753 | €46,677 | +€23,923 | +105.1% |
| Tangible fixed assets | 22/27 | €16,626 | €40,550 | +€23,923 | +143.9% |
| Plant, machinery and equipment | 23 | €2,356 | €8,997 | +€6,641 | +281.9% |
| Furniture and vehicles | 24 | €14,270 | €31,553 | +€17,283 | +121.1% |
| Financial fixed assets | 28 | €6,127 | €6,127 | = | 0.0% |
| Current assets | 29/58 | €512,269 | €650,843 | +€138,574 | +27.1% |
| Stocks and contracts in progress | 3 | €234,987 | €466,772 | +€231,785 | +98.6% |
| Stocks | 30/36 | €234,987 | €466,772 | +€231,785 | +98.6% |
| Amounts receivable within one year | 40/41 | €209,153 | €178,543 | -€30,610 | -14.6% |
| Trade receivables | 40 | €90,462 | €126,065 | +€35,604 | +39.4% |
| Other amounts receivable | 41 | €118,691 | €52,478 | -€66,214 | -55.8% |
| Cash at bank and in hand | 54/58 | €66,953 | €5,527 | -€61,425 | -91.7% |
| Deferred charges and accrued income | 490/1 | €1,176 | - | -€1,176 | |
| Total equity and liabilities | 10/49 | €535,022 | €697,519 | +€162,497 | +30.4% |
| Equity | 10/15 | €217,796 | €294,855 | +€77,059 | +35.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €199,060 | €276,010 | +€76,950 | +38.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €178,450 | €255,400 | +€76,950 | +43.1% |
| Profit (loss) carried forward | 14 | €136 | €245 | +€109 | +80.4% |
| Amounts payable | 17/49 | €317,226 | €402,664 | +€85,438 | +26.9% |
| Amounts payable after more than one year | 17 | €99,286 | €284,216 | +€184,931 | +186.3% |
| Financial debts | 170/4 | €99,286 | €284,216 | +€184,931 | +186.3% |
| Amounts payable within one year | 42/48 | €217,940 | €118,447 | -€99,493 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €11,034 | €32,339 | +€21,305 | +193.1% |
| Financial debts | 43 | €4,264 | €31,014 | +€26,750 | +627.4% |
| Credit institutions | 430/8 | €4,264 | €31,014 | +€26,750 | +627.4% |
| Trade debts | 44 | €119,576 | €4,146 | -€115,430 | -96.5% |
| Suppliers | 440/4 | €119,576 | €4,146 | -€115,430 | -96.5% |
| Advances received on contracts in progress | 46 | €21,253 | €20,000 | -€1,253 | -5.9% |
| Taxes, remuneration and social security | 45 | €47,576 | €14,140 | -€33,436 | -70.3% |
| Taxes | 450/3 | €41,199 | €8,354 | -€32,845 | -79.7% |
| Remuneration and social security | 454/9 | €6,377 | €5,786 | -€591 | -9.3% |
| Other amounts payable | 47/48 | €14,238 | €16,808 | +€2,571 | +18.1% |
| Remuneration, social security and pensions | 62 | €35,558 | €35,290 | -€269 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,149 | €12,910 | +€2,760 | +27.2% |
| Other operating charges | 640/8 | €2,324 | €5,317 | +€2,993 | +128.8% |
| Gross operating margin | 9900 | €191,313 | €183,485 | -€7,828 | -4.1% |
| Operating profit (loss) | 9901 | €143,281 | €129,969 | -€13,312 | -9.3% |
| Financial income | 75/76B | - | €250 | +€250 | |
| Recurring financial income | 75 | - | €250 | +€250 | |
| Non-recurring financial income | 76B | - | €250 | +€250 | |
| Financial charges | 65/66B | €16,091 | €20,811 | +€4,720 | +29.3% |
| Recurring financial charges | 65 | €11,436 | €20,811 | +€9,376 | +82.0% |
| Non-recurring financial charges | 66B | €4,655 | - | -€4,655 | |
| Profit (loss) for the period before taxes | 9903 | €127,190 | €109,408 | -€17,783 | -14.0% |
| Income taxes | 67/77 | €37,257 | €32,348 | -€4,908 | -13.2% |
| Profit (loss) for the period | 9904 | €89,934 | €77,059 | -€12,874 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €89,934 | €77,059 | -€12,874 | -14.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.