CEDAU: 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.
CEDAU
Largest movements
- Receivables within one year -€66,018
down €66,018 (-90.0%), from €73,315 to €7,297
of which Trade receivables: -€54,271
- Tangible fixed assets -€32,890
down €32,890 (-18.4%), from €178,933 to €146,043
of which Plant, machinery and equipment: -€23,066
- Other debts -€81,156
down €81,156 (-73.9%), from €109,840 to €28,684
- Profit (loss) carried forward -€16,941
down €16,941 (-38.5%), from -€43,970 to -€60,911
- Other operating charges +€4,512
up €4,512 (+22560.0%), from €20 to €4,532
- Gross operating margin +€2,545
up €2,545 (+13.9%), from €18,311 to €20,856
- Financial charges -€462
down €462 (-55.1%), from €838 to €376
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 | €252,773 | €153,866 | -€98,907 | -39.1% |
| Fixed assets | 21/28 | €178,933 | €146,043 | -€32,890 | -18.4% |
| Tangible fixed assets | 22/27 | €178,933 | €146,043 | -€32,890 | -18.4% |
| Land and buildings | 22 | €125,307 | €115,483 | -€9,824 | -7.8% |
| Plant, machinery and equipment | 23 | €53,626 | €30,560 | -€23,066 | -43.0% |
| Current assets | 29/58 | €73,840 | €7,823 | -€66,017 | -89.4% |
| Amounts receivable within one year | 40/41 | €73,315 | €7,297 | -€66,018 | -90.0% |
| Trade receivables | 40 | €58,921 | €4,650 | -€54,271 | -92.1% |
| Other amounts receivable | 41 | €14,394 | €2,647 | -€11,747 | -81.6% |
| Cash at bank and in hand | 54/58 | €525 | €526 | +€1 | +0.2% |
| Total equity and liabilities | 10/49 | €252,773 | €153,866 | -€98,907 | -39.1% |
| Equity | 10/15 | €139,549 | €122,608 | -€16,941 | -12.1% |
| Contributions | 10/11 | €80,565 | €80,565 | = | 0.0% |
| Revaluation surpluses | 12 | €54,857 | €54,857 | = | 0.0% |
| Reserves | 13 | €48,097 | €48,097 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,057 | €8,057 | = | 0.0% |
| Distributable reserves | 133 | €40,040 | €40,040 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,970 | -€60,911 | -€16,941 | -38.5% |
| Amounts payable | 17/49 | €113,224 | €31,258 | -€81,966 | -72.4% |
| Amounts payable after more than one year | 17 | €355 | - | -€355 | |
| Financial debts | 170/4 | €355 | - | -€355 | |
| Amounts payable within one year | 42/48 | €112,869 | €31,258 | -€81,611 | -72.3% |
| Current portion of amounts payable after more than one year | 42 | €2,084 | €355 | -€1,729 | -83.0% |
| Trade debts | 44 | - | €2,191 | +€2,191 | |
| Suppliers | 440/4 | - | €2,191 | +€2,191 | |
| Taxes, remuneration and social security | 45 | €945 | €28 | -€917 | -97.0% |
| Taxes | 450/3 | €945 | €28 | -€917 | -97.0% |
| Other amounts payable | 47/48 | €109,840 | €28,684 | -€81,156 | -73.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,890 | €32,889 | -€1 | 0.0% |
| Other operating charges | 640/8 | €20 | €4,532 | +€4,512 | +22560.0% |
| Gross operating margin | 9900 | €18,311 | €20,856 | +€2,545 | +13.9% |
| Operating profit (loss) | 9901 | -€14,599 | -€16,565 | -€1,966 | -13.5% |
| Financial charges | 65/66B | €838 | €376 | -€462 | -55.1% |
| Recurring financial charges | 65 | €838 | €376 | -€462 | -55.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,437 | -€16,941 | -€1,504 | -9.7% |
| Profit (loss) for the period | 9904 | -€15,437 | -€16,941 | -€1,504 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,437 | -€16,941 | -€1,504 | -9.7% |
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 30 September 2026 via checked.be.