CEDOC: 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.
CEDOC
Largest movements
- Receivables within one year +€6,953
up €6,953 (+72.9%), from €9,534 to €16,486
of which Trade receivables: +€5,900
- Tangible fixed assets -€4,972
down €4,972 (-45.4%), from €10,951 to €5,979
- Cash +€2,375
up €2,375 (+95.8%), from €2,479 to €4,854
mainly Trade debts (+€11,028) and Depreciation (+€4,972)
- Trade debts +€11,028
up €11,028 (+356.9%), from €3,090 to €14,118
- Profit (loss) carried forward -€5,234
down €5,234 (-6.6%), from -€79,819 to -€85,053
- Other debts -€1,351
down €1,351 (-1.5%), from €91,533 to €90,183
- Gross operating margin -€5,874
down €5,874 (-87.0%), from €6,750 to €877
- Depreciation +€1,005
up €1,005 (+25.3%), from €3,967 to €4,972
- Other operating charges -€503
down €503 (-48.8%), from €1,031 to €528
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 | €23,104 | €27,598 | +€4,493 | +19.4% |
| Fixed assets | 21/28 | €10,951 | €5,979 | -€4,972 | -45.4% |
| Tangible fixed assets | 22/27 | €10,951 | €5,979 | -€4,972 | -45.4% |
| Furniture and vehicles | 24 | €10,951 | €5,979 | -€4,972 | -45.4% |
| Current assets | 29/58 | €12,154 | €21,619 | +€9,465 | +77.9% |
| Amounts receivable within one year | 40/41 | €9,534 | €16,486 | +€6,953 | +72.9% |
| Trade receivables | 40 | €7,800 | €13,700 | +€5,900 | +75.6% |
| Other amounts receivable | 41 | €1,734 | €2,786 | +€1,053 | +60.7% |
| Cash at bank and in hand | 54/58 | €2,479 | €4,854 | +€2,375 | +95.8% |
| Deferred charges and accrued income | 490/1 | €141 | €279 | +€138 | +97.3% |
| Total equity and liabilities | 10/49 | €23,104 | €27,598 | +€4,493 | +19.4% |
| Equity | 10/15 | -€71,759 | -€76,993 | -€5,234 | -7.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,819 | -€85,053 | -€5,234 | -6.6% |
| Amounts payable | 17/49 | €94,863 | €104,591 | +€9,727 | +10.3% |
| Amounts payable within one year | 42/48 | €94,863 | €104,591 | +€9,727 | +10.3% |
| Trade debts | 44 | €3,090 | €14,118 | +€11,028 | +356.9% |
| Suppliers | 440/4 | €3,090 | €14,118 | +€11,028 | +356.9% |
| Taxes, remuneration and social security | 45 | €240 | €290 | +€50 | +20.8% |
| Taxes | 450/3 | €240 | €290 | +€50 | +20.8% |
| Other amounts payable | 47/48 | €91,533 | €90,183 | -€1,351 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,967 | €4,972 | +€1,005 | +25.3% |
| Other operating charges | 640/8 | €1,031 | €528 | -€503 | -48.8% |
| Gross operating margin | 9900 | €6,750 | €877 | -€5,874 | -87.0% |
| Operating profit (loss) | 9901 | €1,752 | -€4,624 | -€6,376 | |
| Financial charges | 65/66B | €263 | €323 | +€60 | +22.7% |
| Recurring financial charges | 65 | €263 | €323 | +€60 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €1,489 | -€4,947 | -€6,436 | |
| Income taxes | 67/77 | €240 | €287 | +€47 | +19.7% |
| Profit (loss) for the period | 9904 | €1,249 | -€5,234 | -€6,483 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,249 | -€5,234 | -€6,483 |
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 7 October 2026 via checked.be.