CEDREY: 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.
CEDREY
Largest movements
- Cash +€55,300
new in 2025: €55,300
mainly Current investments (+€37,110) and Net result for the year (+€33,312)
- Current investments -€37,110
no longer reported in 2025 (was €37,110)
- Stocks and contracts +€6,081
up €6,081 (+140.5%), from €4,329 to €10,410
- Intangible fixed assets +€2,866
new in 2025: €2,866
- Receivables within one year +€2,173
up €2,173 (+40.4%), from €5,385 to €7,558
of which Trade receivables: +€2,112
- Profit (loss) carried forward +€32,479
up €32,479 (+110.8%), from €29,300 to €61,779
- Tax, wage and social debts +€4,337
up €4,337 (+48.2%), from €9,003 to €13,340
- Trade debts -€3,993
down €3,993 (-65.0%), from €6,146 to €2,153
- Other debts -€1,380
down €1,380 (-62.4%), from €2,213 to €833
- Gross operating margin +€7,993
up €7,993 (+19.6%), from €40,830 to €48,823
- Financial charges +€2,524
up €2,524 (+289.1%), from €873 to €3,397
- Taxes +€2,005
up €2,005 (+24.6%), from €8,149 to €10,154
- Depreciation +€836
up €836 (+275.0%), from €304 to €1,140
- Other operating charges -€551
down €551 (-40.2%), from €1,371 to €820
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 | €48,662 | €80,105 | +€31,443 | +64.6% |
| Fixed assets | 21/28 | €1,442 | €6,200 | +€4,758 | +330.0% |
| Intangible fixed assets | 21 | - | €2,866 | +€2,866 | |
| Tangible fixed assets | 22/27 | €1,442 | €3,334 | +€1,892 | +131.2% |
| Plant, machinery and equipment | 23 | €1,442 | €2,994 | +€1,552 | +107.6% |
| Furniture and vehicles | 24 | - | €340 | +€340 | |
| Current assets | 29/58 | €47,220 | €73,905 | +€26,685 | +56.5% |
| Stocks and contracts in progress | 3 | €4,329 | €10,410 | +€6,081 | +140.5% |
| Stocks | 30/36 | €4,329 | €10,410 | +€6,081 | +140.5% |
| Amounts receivable within one year | 40/41 | €5,385 | €7,558 | +€2,173 | +40.4% |
| Trade receivables | 40 | €5,385 | €7,497 | +€2,112 | +39.2% |
| Other amounts receivable | 41 | - | €61 | +€61 | |
| Current investments | 50/53 | €37,110 | - | -€37,110 | |
| Cash at bank and in hand | 54/58 | - | €55,300 | +€55,300 | |
| Deferred charges and accrued income | 490/1 | €396 | €637 | +€241 | +60.9% |
| Total equity and liabilities | 10/49 | €48,662 | €80,105 | +€31,443 | +64.6% |
| Equity | 10/15 | €31,300 | €63,779 | +€32,479 | +103.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,300 | €61,779 | +€32,479 | +110.8% |
| Amounts payable | 17/49 | €17,362 | €16,326 | -€1,036 | -6.0% |
| Amounts payable within one year | 42/48 | €17,362 | €16,326 | -€1,036 | -6.0% |
| Trade debts | 44 | €6,146 | €2,153 | -€3,993 | -65.0% |
| Suppliers | 440/4 | €6,146 | €2,153 | -€3,993 | -65.0% |
| Taxes, remuneration and social security | 45 | €9,003 | €13,340 | +€4,337 | +48.2% |
| Taxes | 450/3 | €9,003 | €13,340 | +€4,337 | +48.2% |
| Other amounts payable | 47/48 | €2,213 | €833 | -€1,380 | -62.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €304 | €1,140 | +€836 | +275.0% |
| Other operating charges | 640/8 | €1,371 | €820 | -€551 | -40.2% |
| Gross operating margin | 9900 | €40,830 | €48,823 | +€7,993 | +19.6% |
| Operating profit (loss) | 9901 | €39,155 | €46,863 | +€7,708 | +19.7% |
| Financial charges | 65/66B | €873 | €3,397 | +€2,524 | +289.1% |
| Recurring financial charges | 65 | €873 | €3,397 | +€2,524 | +289.1% |
| Profit (loss) for the period before taxes | 9903 | €38,282 | €43,466 | +€5,184 | +13.5% |
| Income taxes | 67/77 | €8,149 | €10,154 | +€2,005 | +24.6% |
| Profit (loss) for the period | 9904 | €30,133 | €33,312 | +€3,179 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €30,133 | €33,312 | +€3,179 | +10.5% |
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 6 October 2026 via checked.be.