CEDANA: 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.
CEDANA
Largest movements
- Tangible fixed assets +€81,099
up €81,099 (+80.5%), from €100,799 to €181,898
of which Assets under construction and advance payments: +€82,405
- Cash -€66,952
down €66,952 (-75.5%), from €88,652 to €21,700
mainly Investment in fixed assets (net) (-€86,399) and Receivables within one year (-€21,000)
- Receivables within one year +€21,000
up €21,000 (+127.6%), from €16,461 to €37,460
of which Other amounts receivable: +€11,320
- Profit (loss) carried forward +€33,465
up €33,465 (+20.3%), from €164,546 to €198,010
- Other debts +€15,078
up €15,078 (+127.6%), from €11,814 to €26,891
- Tax, wage and social debts -€13,716
down €13,716 (-48.6%), from €28,214 to €14,497
of which Taxes: -€11,948
- Gross operating margin -€27,117
down €27,117 (-36.3%), from €74,644 to €47,527
- Taxes -€6,579
down €6,579 (-48.4%), from €13,582 to €7,003
- Depreciation -€1,902
down €1,902 (-26.4%), from €7,202 to €5,300
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 | €206,308 | €241,479 | +€35,171 | +17.0% |
| Fixed assets | 21/28 | €100,799 | €181,898 | +€81,099 | +80.5% |
| Tangible fixed assets | 22/27 | €100,799 | €181,898 | +€81,099 | +80.5% |
| Land and buildings | 22 | €53,900 | €53,900 | = | 0.0% |
| Furniture and vehicles | 24 | €1,877 | €1,394 | -€482 | -25.7% |
| Other tangible fixed assets | 26 | €5,180 | €4,356 | -€823 | -15.9% |
| Assets under construction and advance payments | 27 | €39,843 | €122,248 | +€82,405 | +206.8% |
| Current assets | 29/58 | €105,509 | €59,580 | -€45,929 | -43.5% |
| Amounts receivable within one year | 40/41 | €16,461 | €37,460 | +€21,000 | +127.6% |
| Trade receivables | 40 | €9,680 | €19,360 | +€9,680 | +100.0% |
| Other amounts receivable | 41 | €6,781 | €18,100 | +€11,320 | +166.9% |
| Cash at bank and in hand | 54/58 | €88,652 | €21,700 | -€66,952 | -75.5% |
| Deferred charges and accrued income | 490/1 | €396 | €420 | +€24 | +6.0% |
| Total equity and liabilities | 10/49 | €206,308 | €241,479 | +€35,171 | +17.0% |
| Equity | 10/15 | €166,046 | €199,510 | +€33,465 | +20.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €164,546 | €198,010 | +€33,465 | +20.3% |
| Amounts payable | 17/49 | €40,263 | €41,969 | +€1,706 | +4.2% |
| Amounts payable within one year | 42/48 | €40,263 | €41,969 | +€1,706 | +4.2% |
| Trade debts | 44 | €235 | €580 | +€345 | +146.8% |
| Suppliers | 440/4 | €235 | €580 | +€345 | +146.8% |
| Taxes, remuneration and social security | 45 | €28,214 | €14,497 | -€13,716 | -48.6% |
| Taxes | 450/3 | €26,445 | €14,497 | -€11,948 | -45.2% |
| Remuneration and social security | 454/9 | €1,769 | €0 | -€1,769 | -100.0% |
| Other amounts payable | 47/48 | €11,814 | €26,891 | +€15,078 | +127.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,202 | €5,300 | -€1,902 | -26.4% |
| Other operating charges | 640/8 | €673 | €695 | +€22 | +3.3% |
| Gross operating margin | 9900 | €74,644 | €47,527 | -€27,117 | -36.3% |
| Operating profit (loss) | 9901 | €66,770 | €41,533 | -€25,237 | -37.8% |
| Financial income | 75/76B | €283 | €385 | +€102 | +36.3% |
| Recurring financial income | 75 | €283 | €385 | +€102 | +36.3% |
| Financial charges | 65/66B | €1,047 | €1,450 | +€403 | +38.5% |
| Recurring financial charges | 65 | €1,047 | €1,450 | +€403 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €66,005 | €40,468 | -€25,537 | -38.7% |
| Income taxes | 67/77 | €13,582 | €7,003 | -€6,579 | -48.4% |
| Profit (loss) for the period | 9904 | €52,423 | €33,465 | -€18,959 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,423 | €33,465 | -€18,959 | -36.2% |
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 8 October 2026 via checked.be.