CEDEC MANAGEMENT: 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.
CEDEC MANAGEMENT
Largest movements
- Cash -€149,413
down €149,413 (-49.1%), from €304,308 to €154,895
mainly Trade debts (-€300,025)
- Receivables within one year -€46,299
down €46,299 (-33.8%), from €136,865 to €90,566
of which Other amounts receivable: -€44,958
- Tangible fixed assets -€9,464
down €9,464 (-53.5%), from €17,696 to €8,232
of which Furniture and vehicles: -€5,696
- Trade debts -€300,025
down €300,025 (-87.6%), from €342,359 to €42,334
- Accrued charges and deferred income +€52,580
up €52,580 (+970%), from €5,420 to €58,000
- Profit (loss) carried forward +€27,874
up €27,874 (+82.5%), from -€33,796 to -€5,921
- Tax, wage and social debts +€10,781
up €10,781 (+26.0%), from €41,424 to €52,206
of which Taxes: +€17,925
- Purchases and services -€272,306
down €272,306 (-29.5%), from €922,571 to €650,265
- Turnover -€229,564
down €229,564 (-21.2%), from €1.1m to €851,638
- Gross operating margin +€42,791
up €42,791 (+26.7%), from €160,233 to €203,023
- Taxes +€11,846
up €11,846 (+8,928%), from €133 to €11,979
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 | €465,407 | €256,618 | -€208,789 | -44.9% |
| Fixed assets | 21/28 | €18,187 | €8,723 | -€9,464 | -52.0% |
| Tangible fixed assets | 22/27 | €17,696 | €8,232 | -€9,464 | -53.5% |
| Plant, machinery and equipment | 23 | €10,549 | €6,781 | -€3,768 | -35.7% |
| Furniture and vehicles | 24 | €7,147 | €1,451 | -€5,696 | -79.7% |
| Financial fixed assets | 28 | €491 | €491 | = | 0.0% |
| Current assets | 29/58 | €447,220 | €247,895 | -€199,325 | -44.6% |
| Amounts receivable within one year | 40/41 | €136,865 | €90,566 | -€46,299 | -33.8% |
| Trade receivables | 40 | €82,824 | €81,483 | -€1,341 | -1.6% |
| Other amounts receivable | 41 | €54,041 | €9,083 | -€44,958 | -83.2% |
| Cash at bank and in hand | 54/58 | €304,308 | €154,895 | -€149,413 | -49.1% |
| Deferred charges and accrued income | 490/1 | €6,047 | €2,434 | -€3,613 | -59.7% |
| Total equity and liabilities | 10/49 | €465,407 | €256,618 | -€208,789 | -44.9% |
| Equity | 10/15 | €76,204 | €104,079 | +€27,874 | +36.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,796 | -€5,921 | +€27,874 | +82.5% |
| Amounts payable | 17/49 | €389,203 | €152,539 | -€236,663 | -60.8% |
| Amounts payable within one year | 42/48 | €383,783 | €94,539 | -€289,243 | -75.4% |
| Trade debts | 44 | €342,359 | €42,334 | -€300,025 | -87.6% |
| Suppliers | 440/4 | €342,359 | €42,334 | -€300,025 | -87.6% |
| Taxes, remuneration and social security | 45 | €41,424 | €52,206 | +€10,781 | +26.0% |
| Taxes | 450/3 | - | €17,925 | +€17,925 | |
| Remuneration and social security | 454/9 | €41,424 | €34,281 | -€7,144 | -17.2% |
| Accrued charges and deferred income | 492/3 | €5,420 | €58,000 | +€52,580 | +970% |
| Turnover | 70 | €1,081,202 | €851,638 | -€229,564 | -21.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €922,571 | €650,265 | -€272,306 | -29.5% |
| Remuneration, social security and pensions | 62 | €147,559 | €151,451 | +€3,892 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,048 | €9,464 | +€416 | +4.6% |
| Other operating charges | 640/8 | €745 | €1,988 | +€1,243 | +167% |
| Gross operating margin | 9900 | €160,233 | €203,023 | +€42,791 | +26.7% |
| Operating profit (loss) | 9901 | €2,880 | €40,120 | +€37,240 | +1,293% |
| Financial charges | 65/66B | €271 | €267 | -€4 | -1.4% |
| Recurring financial charges | 65 | €271 | €267 | -€4 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €2,609 | €39,853 | +€37,244 | +1,427% |
| Income taxes | 67/77 | €133 | €11,979 | +€11,846 | +8,928% |
| Profit (loss) for the period | 9904 | €2,476 | €27,874 | +€25,398 | +1,026% |
| Profit (loss) for the period to be appropriated | 9905 | €2,476 | €27,874 | +€25,398 | +1,026% |
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.