CEDO GROUP: what changed
What changed
CEDO GROUP
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€43,749
2024 · -€23,301-€20,448
Equity
€176.8m
2024 · €176.9m-€43,749
Cash
€155,338
2024 · €149,001+€6,337
Balance sheet total
€176.9m
2024 · €177.0m-€33,984
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Turnover +€141,046
up €141,046 (+12.1%), from €1.2m to €1.3m
- Services and other goods +€140,767
up €140,767 (+11.8%), from €1.2m to €1.3m
- Financial income -€20,137
down €20,137 (-100%), from €20,137 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€23,301
Turnover
+€141,046
Services and other goods
-€140,767
Other operating charges
-€35
Financial income
-€20,137
Financial charges
-€555
Result 2025
-€43,749
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€6,337
Investment
€0
Financing
€0
Cash 2024
€149,001
From operations (derived)
+€6,337
Net result for the year
-€43,749
Depreciation
+€5,348
Receivables within one year
+€34,973
Trade debts
+€9,811
Accrued charges and deferred income
-€46
Cash 2025
€155,338
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,968,556 | €176,934,571 | -€33,984 | 0.0% |
| Formation expenses | 20 | €10,534 | €5,187 | -€5,348 | -50.8% |
| Fixed assets | 21/28 | €176,010,506 | €176,010,506 | = | 0.0% |
| Financial fixed assets | 28 | €176,010,506 | €176,010,506 | = | 0.0% |
| Affiliated companies | 280/1 | €176,010,506 | €176,010,506 | = | 0.0% |
| Participating interests | 280 | €176,010,506 | €176,010,506 | = | 0.0% |
| Current assets | 29/58 | €947,515 | €918,878 | -€28,637 | -3.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €798,514 | €763,541 | -€34,973 | -4.4% |
| Trade receivables | 40 | €93,422 | €70,946 | -€22,476 | -24.1% |
| Other amounts receivable | 41 | €705,092 | €692,594 | -€12,498 | -1.8% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €149,001 | €155,338 | +€6,337 | +4.3% |
| Total equity and liabilities | 10/49 | €176,968,556 | €176,934,571 | -€33,984 | 0.0% |
| Equity | 10/15 | €176,867,886 | €176,824,137 | -€43,749 | 0.0% |
| Contributions | 10/11 | €175,997,418 | €175,997,418 | = | 0.0% |
| Capital | 10 | €175,997,418 | €175,997,418 | = | 0.0% |
| Issued capital | 100 | €175,997,418 | €175,997,418 | = | 0.0% |
| Reserves | 13 | €406,000 | €406,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €406,000 | €406,000 | = | 0.0% |
| Legal reserve | 130 | €406,000 | €406,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €464,468 | €420,719 | -€43,749 | -9.4% |
| Amounts payable | 17/49 | €100,669 | €110,434 | +€9,765 | +9.7% |
| Amounts payable within one year | 42/48 | €100,623 | €110,434 | +€9,811 | +9.8% |
| Trade debts | 44 | €100,623 | €110,434 | +€9,811 | +9.8% |
| Suppliers | 440/4 | €100,623 | €110,434 | +€9,811 | +9.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €46 | €0 | -€46 | -99.7% |
| Operating income | 70/76A | €1,161,609 | €1,302,654 | +€141,046 | +12.1% |
| Turnover | 70 | €1,161,609 | €1,302,654 | +€141,046 | +12.1% |
| Operating charges | 60/66A | €1,204,209 | €1,345,010 | +€140,801 | +11.7% |
| Services and other goods | 61 | €1,197,753 | €1,338,520 | +€140,767 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,348 | €5,348 | = | 0.0% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Operating profit (loss) | 9901 | -€42,600 | -€42,356 | +€244 | +0.6% |
| Financial income | 75/76B | €20,137 | €0 | -€20,137 | -100% |
| Recurring financial income | 75 | €20,137 | €0 | -€20,137 | -100% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €20,137 | €0 | -€20,137 | -100% |
| Financial charges | 65/66B | €838 | €1,393 | +€555 | +66.3% |
| Recurring financial charges | 65 | €838 | €1,393 | +€555 | +66.3% |
| Debt charges | 650 | €0 | €0 | +€0 | |
| Other financial charges | 652/9 | €838 | €1,393 | +€555 | +66.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,301 | -€43,749 | -€20,448 | -87.8% |
| Profit (loss) for the period | 9904 | -€23,301 | -€43,749 | -€20,448 | -87.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,301 | -€43,749 | -€20,448 | -87.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.