CEDENFO: 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.
CEDENFO
Largest movements
- Current investments +€170,000
up €170,000 (+340.0%), from €50,000 to €220,000
- Cash -€107,784
down €107,784 (-50.7%), from €212,793 to €105,009
mainly Current investments (-€170,000) and Trade debts (-€42,851)
- Tangible fixed assets +€4,135
up €4,135 (+26.1%), from €15,843 to €19,978
of which Other tangible fixed assets: +€4,737
- Reserves +€83,000
up €83,000 (+137.2%), from €60,494 to €143,494
of which Distributable reserves: +€83,000
- Trade debts -€42,851
down €42,851 (-89.8%), from €47,721 to €4,870
- Tax, wage and social debts +€21,213
up €21,213 (+532.5%), from €3,984 to €25,197
of which Taxes: +€20,213
- Profit (loss) carried forward +€6,230
up €6,230 (+34.1%), from €18,246 to €24,475
- Financial charges -€115,619
down €115,619 (-98.0%), from €117,944 to €2,325
- Gross operating margin +€74,345
up €74,345 (+120.7%), from €61,574 to €135,918
- Taxes +€23,954
up €23,954 (+14184.7%), from €169 to €24,123
- Financial income +€4,014
up €4,014 (+5548.3%), from €72 to €4,087
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 | €281,856 | €349,428 | +€67,571 | +24.0% |
| Fixed assets | 21/28 | €15,843 | €19,978 | +€4,135 | +26.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €15,843 | €19,978 | +€4,135 | +26.1% |
| Plant, machinery and equipment | 23 | €1,990 | €4,047 | +€2,057 | +103.4% |
| Furniture and vehicles | 24 | €7,443 | €4,784 | -€2,659 | -35.7% |
| Other tangible fixed assets | 26 | €6,410 | €11,147 | +€4,737 | +73.9% |
| Current assets | 29/58 | €266,014 | €329,450 | +€63,437 | +23.8% |
| Amounts receivable within one year | 40/41 | €1,049 | €4,065 | +€3,016 | +287.4% |
| Trade receivables | 40 | €1,049 | €4,065 | +€3,016 | +287.4% |
| Current investments | 50/53 | €50,000 | €220,000 | +€170,000 | +340.0% |
| Cash at bank and in hand | 54/58 | €212,793 | €105,009 | -€107,784 | -50.7% |
| Deferred charges and accrued income | 490/1 | €2,171 | €376 | -€1,795 | -82.7% |
| Total equity and liabilities | 10/49 | €281,856 | €349,428 | +€67,571 | +24.0% |
| Equity | 10/15 | €84,939 | €174,169 | +€89,230 | +105.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,494 | €143,494 | +€83,000 | +137.2% |
| Non-distributable reserves | 130/1 | €3,289 | €3,289 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,289 | €3,289 | = | 0.0% |
| Tax-exempt reserves | 132 | €705 | €705 | = | 0.0% |
| Distributable reserves | 133 | €56,500 | €139,500 | +€83,000 | +146.9% |
| Profit (loss) carried forward | 14 | €18,246 | €24,475 | +€6,230 | +34.1% |
| Amounts payable | 17/49 | €196,917 | €175,259 | -€21,658 | -11.0% |
| Amounts payable within one year | 42/48 | €196,530 | €174,859 | -€21,671 | -11.0% |
| Trade debts | 44 | €47,721 | €4,870 | -€42,851 | -89.8% |
| Suppliers | 440/4 | €47,721 | €4,870 | -€42,851 | -89.8% |
| Taxes, remuneration and social security | 45 | €3,984 | €25,197 | +€21,213 | +532.5% |
| Taxes | 450/3 | €3,984 | €24,197 | +€20,213 | +507.4% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €144,825 | €144,792 | -€33 | 0.0% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,417 | €6,335 | -€82 | -1.3% |
| Other operating charges | 640/8 | €1,053 | €992 | -€61 | -5.8% |
| Gross operating margin | 9900 | €61,574 | €135,918 | +€74,345 | +120.7% |
| Operating profit (loss) | 9901 | €54,104 | €128,591 | +€74,488 | +137.7% |
| Financial income | 75/76B | €72 | €4,087 | +€4,014 | +5548.3% |
| Recurring financial income | 75 | €72 | €4,087 | +€4,014 | +5548.3% |
| Financial charges | 65/66B | €117,944 | €2,325 | -€115,619 | -98.0% |
| Recurring financial charges | 65 | €117,944 | €2,325 | -€115,619 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | -€63,768 | €130,353 | +€194,121 | |
| Income taxes | 67/77 | €169 | €24,123 | +€23,954 | +14184.7% |
| Profit (loss) for the period | 9904 | -€63,937 | €106,230 | +€170,167 | |
| Profit (loss) for the period to be appropriated | 9905 | -€63,937 | €106,230 | +€170,167 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.