CEDEZ: 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.
CEDEZ
Largest movements
- Receivables within one year +€10,433
up €10,433 (+89.5%), from €11,655 to €22,088
of which Trade receivables: +€8,958
- Cash +€3,816
up €3,816 (+40.9%), from €9,337 to €13,154
mainly Net result for the year (+€9,554) and Depreciation (+€3,433)
- Tangible fixed assets -€2,907
down €2,907 (-25.8%), from €11,247 to €8,340
of which Plant, machinery and equipment: -€2,507
- Deferred charges and accrued income -€659
down €659 (-34.5%), from €1,909 to €1,249
- Formation expenses -€526
down €526 (-100.0%), from €526 to €0
- Reserves +€9,554
up €9,554 (+80.1%), from €11,934 to €21,489
- Other debts +€1,857
up €1,857 (+30.3%), from €6,137 to €7,994
- Tax, wage and social debts -€911
down €911 (-8.1%), from €11,268 to €10,357
of which Remuneration and social security: -€2,000
- Depreciation +€1,369
up €1,369 (+66.4%), from €2,063 to €3,433
- Gross operating margin -€970
down €970 (-5.3%), from €18,376 to €17,406
- Other operating charges +€232
up €232 (+31.4%), from €738 to €970
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,674 | €44,831 | +€10,157 | +29.3% |
| Formation expenses | 20 | €526 | €0 | -€526 | -100.0% |
| Fixed assets | 21/28 | €11,247 | €8,340 | -€2,907 | -25.8% |
| Tangible fixed assets | 22/27 | €11,247 | €8,340 | -€2,907 | -25.8% |
| Plant, machinery and equipment | 23 | €9,450 | €6,943 | -€2,507 | -26.5% |
| Furniture and vehicles | 24 | €1,797 | €1,397 | -€400 | -22.3% |
| Current assets | 29/58 | €22,901 | €36,491 | +€13,590 | +59.3% |
| Amounts receivable within one year | 40/41 | €11,655 | €22,088 | +€10,433 | +89.5% |
| Trade receivables | 40 | €11,655 | €20,613 | +€8,958 | +76.9% |
| Other amounts receivable | 41 | - | €1,475 | +€1,475 | |
| Cash at bank and in hand | 54/58 | €9,337 | €13,154 | +€3,816 | +40.9% |
| Deferred charges and accrued income | 490/1 | €1,909 | €1,249 | -€659 | -34.5% |
| Total equity and liabilities | 10/49 | €34,674 | €44,831 | +€10,157 | +29.3% |
| Equity | 10/15 | €14,934 | €24,489 | +€9,554 | +64.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,934 | €21,489 | +€9,554 | +80.1% |
| Distributable reserves | 133 | €11,934 | €21,489 | +€9,554 | +80.1% |
| Amounts payable | 17/49 | €19,740 | €20,343 | +€603 | +3.1% |
| Amounts payable within one year | 42/48 | €19,740 | €20,343 | +€603 | +3.1% |
| Trade debts | 44 | €2,335 | €1,992 | -€343 | -14.7% |
| Suppliers | 440/4 | €2,335 | €1,992 | -€343 | -14.7% |
| Taxes, remuneration and social security | 45 | €11,268 | €10,357 | -€911 | -8.1% |
| Taxes | 450/3 | €9,268 | €10,357 | +€1,089 | +11.7% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100.0% |
| Other amounts payable | 47/48 | €6,137 | €7,994 | +€1,857 | +30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,063 | €3,433 | +€1,369 | +66.4% |
| Other operating charges | 640/8 | €738 | €970 | +€232 | +31.4% |
| Gross operating margin | 9900 | €18,376 | €17,406 | -€970 | -5.3% |
| Operating profit (loss) | 9901 | €15,574 | €13,003 | -€2,571 | -16.5% |
| Financial charges | 65/66B | €55 | €26 | -€29 | -53.1% |
| Recurring financial charges | 65 | €55 | €26 | -€29 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €15,519 | €12,977 | -€2,542 | -16.4% |
| Income taxes | 67/77 | €3,585 | €3,423 | -€162 | -4.5% |
| Profit (loss) for the period | 9904 | €11,934 | €9,554 | -€2,380 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,934 | €9,554 | -€2,380 | -19.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.