CEDREBEL: 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.
CEDREBEL
Largest movements
- Cash -€409,902
down €409,902 (-88.0%), from €465,937 to €56,034
mainly Current investments (-€400,000) and Net result for the year (-€24,192)
- Current investments +€400,000
up €400,000 (+133%), from €300,000 to €700,000
- Tangible fixed assets -€17,850
down €17,850 (-35.3%), from €50,518 to €32,668
- Receivables within one year -€11,261
down €11,261 (-18.2%), from €61,759 to €50,498
of which Other amounts receivable: -€10,811
- Profit (loss) carried forward -€24,192
down €24,192 (-20.5%), from €118,123 to €93,932
- Tax, wage and social debts -€15,018
no longer reported in 2025 (was €15,018)
- Financial charges -€82,624
down €82,624 (-96.9%), from €85,304 to €2,680
- Staff costs -€22,346
down €22,346 (-99.1%), from €22,539 to €193
- Gross operating margin +€19,840
up €19,840 (+71.1%), from -€27,907 to -€8,067
- Financial income +€2,691
up €2,691 (+66.8%), from €4,029 to €6,720
- Other operating charges +€2,121
new in 2025: €2,121
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 | €911,641 | €872,627 | -€39,014 | -4.3% |
| Fixed assets | 21/28 | €83,945 | €66,095 | -€17,850 | -21.3% |
| Tangible fixed assets | 22/27 | €50,518 | €32,668 | -€17,850 | -35.3% |
| Plant, machinery and equipment | 23 | €50,518 | €32,668 | -€17,850 | -35.3% |
| Financial fixed assets | 28 | €33,428 | €33,428 | = | 0.0% |
| Current assets | 29/58 | €827,696 | €806,532 | -€21,164 | -2.6% |
| Amounts receivable within one year | 40/41 | €61,759 | €50,498 | -€11,261 | -18.2% |
| Trade receivables | 40 | €571 | €120 | -€451 | -79.0% |
| Other amounts receivable | 41 | €61,188 | €50,378 | -€10,811 | -17.7% |
| Current investments | 50/53 | €300,000 | €700,000 | +€400,000 | +133% |
| Cash at bank and in hand | 54/58 | €465,937 | €56,034 | -€409,902 | -88.0% |
| Total equity and liabilities | 10/49 | €911,641 | €872,627 | -€39,014 | -4.3% |
| Equity | 10/15 | €869,784 | €845,592 | -€24,192 | -2.8% |
| Contributions | 10/11 | €582,250 | €582,250 | = | 0.0% |
| Capital | 10 | €582,250 | €582,250 | = | 0.0% |
| Issued capital | 100 | €582,250 | €582,250 | = | 0.0% |
| Reserves | 13 | €169,410 | €169,410 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,410 | €19,410 | = | 0.0% |
| Legal reserve | 130 | €18,895 | €18,895 | = | 0.0% |
| Reserves not available under the articles | 1311 | €516 | €516 | = | 0.0% |
| Distributable reserves | 133 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,123 | €93,932 | -€24,192 | -20.5% |
| Amounts payable | 17/49 | €41,858 | €27,035 | -€14,822 | -35.4% |
| Amounts payable within one year | 42/48 | €41,858 | €27,035 | -€14,822 | -35.4% |
| Trade debts | 44 | €3,821 | €4,017 | +€196 | +5.1% |
| Suppliers | 440/4 | €3,821 | €4,017 | +€196 | +5.1% |
| Taxes, remuneration and social security | 45 | €15,018 | - | -€15,018 | |
| Taxes | 450/3 | €15,018 | - | -€15,018 | |
| Other amounts payable | 47/48 | €23,019 | €23,019 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €22,539 | €193 | -€22,346 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,850 | €17,850 | = | 0.0% |
| Other operating charges | 640/8 | - | €2,121 | +€2,121 | |
| Gross operating margin | 9900 | -€27,907 | -€8,067 | +€19,840 | +71.1% |
| Operating profit (loss) | 9901 | -€68,296 | -€28,231 | +€40,065 | +58.7% |
| Financial income | 75/76B | €4,029 | €6,720 | +€2,691 | +66.8% |
| Recurring financial income | 75 | €4,029 | €6,720 | +€2,691 | +66.8% |
| Financial charges | 65/66B | €85,304 | €2,680 | -€82,624 | -96.9% |
| Recurring financial charges | 65 | €85,304 | €2,680 | -€82,624 | -96.9% |
| Profit (loss) for the period before taxes | 9903 | -€149,571 | -€24,191 | +€125,380 | +83.8% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€149,571 | -€24,192 | +€125,379 | +83.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,571 | -€24,192 | +€125,379 | +83.8% |
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 17 October 2026 via checked.be.