CEDREC: 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.
CEDREC
Largest movements
- Receivables within one year +€48,712
up €48,712 (+143.4%), from €33,974 to €82,686
- Tangible fixed assets -€34,096
down €34,096 (-12.9%), from €264,400 to €230,304
of which Land and buildings: -€34,096
- Cash +€32,730
up €32,730 (+46.7%), from €70,152 to €102,882
mainly Other debts (+€41,805) and Depreciation (+€34,096)
- Other debts +€41,805
new in 2025: €41,805
- Profit (loss) carried forward +€5,541
up €5,541 (+2.4%), from €232,398 to €237,940
- Gross operating margin +€47,661
up €47,661 (+186.1%), from €25,605 to €73,266
- Other operating charges +€18,711
up €18,711 (+126.9%), from €14,739 to €33,450
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 | €368,677 | €416,023 | +€47,346 | +12.8% |
| Fixed assets | 21/28 | €264,550 | €230,454 | -€34,096 | -12.9% |
| Tangible fixed assets | 22/27 | €264,400 | €230,304 | -€34,096 | -12.9% |
| Land and buildings | 22 | €264,400 | €230,304 | -€34,096 | -12.9% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €104,126 | €185,568 | +€81,442 | +78.2% |
| Amounts receivable within one year | 40/41 | €33,974 | €82,686 | +€48,712 | +143.4% |
| Other amounts receivable | 41 | €33,974 | €82,686 | +€48,712 | +143.4% |
| Cash at bank and in hand | 54/58 | €70,152 | €102,882 | +€32,730 | +46.7% |
| Total equity and liabilities | 10/49 | €368,677 | €416,023 | +€47,346 | +12.8% |
| Equity | 10/15 | €357,919 | €363,460 | +€5,541 | +1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €63,520 | €63,520 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,081 | €60,081 | = | 0.0% |
| Legal reserve | 130 | €60,081 | €60,081 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,439 | €3,439 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,398 | €237,940 | +€5,541 | +2.4% |
| Amounts payable | 17/49 | €10,758 | €52,563 | +€41,805 | +388.6% |
| Amounts payable after more than one year | 17 | €10,188 | €10,188 | = | 0.0% |
| Other amounts payable | 178/9 | €10,188 | €10,188 | = | 0.0% |
| Amounts payable within one year | 42/48 | €570 | €42,374 | +€41,805 | +7340.6% |
| Trade debts | 44 | €570 | €570 | = | 0.0% |
| Suppliers | 440/4 | €570 | €570 | = | 0.0% |
| Other amounts payable | 47/48 | - | €41,805 | +€41,805 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,431 | €34,096 | -€335 | -1.0% |
| Other operating charges | 640/8 | €14,739 | €33,450 | +€18,711 | +126.9% |
| Gross operating margin | 9900 | €25,605 | €73,266 | +€47,661 | +186.1% |
| Operating profit (loss) | 9901 | -€23,565 | €5,719 | +€29,284 | |
| Financial income | 75/76B | €190 | €218 | +€28 | +14.5% |
| Recurring financial income | 75 | €190 | €218 | +€28 | +14.5% |
| Financial charges | 65/66B | €472 | €396 | -€76 | -16.2% |
| Recurring financial charges | 65 | €472 | €396 | -€76 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€23,847 | €5,541 | +€29,388 | |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€23,847 | €5,541 | +€29,388 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,847 | €5,541 | +€29,388 |
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 12 October 2026 via checked.be.