CÉDRIC: 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.
CÉDRIC
Largest movements
- Tangible fixed assets -€101,861
down €101,861 (-45.6%), from €223,364 to €121,502
of which Plant, machinery and equipment: -€74,833
- Intangible fixed assets -€44,800
down €44,800 (-14.3%), from €313,600 to €268,800
- Cash +€44,597
up €44,597 (+386.8%), from €11,530 to €56,127
mainly Depreciation (+€136,801) and Net result for the year (+€72,450)
- Receivables within one year -€13,309
down €13,309 (-36.8%), from €36,162 to €22,854
- Stocks and contracts -€7,696
down €7,696 (-10.5%), from €73,089 to €65,393
- Reserves -€57,550
down €57,550 (-97.4%), from €59,097 to €1,546
- Other debts -€48,704
down €48,704 (-22.9%), from €212,942 to €164,238
- Trade debts -€27,649
down €27,649 (-39.0%), from €70,945 to €43,296
- Tax, wage and social debts +€10,779
up €10,779 (+18.4%), from €58,508 to €69,287
of which Taxes: +€14,416
- Current portion of long-term debt +€6,963
up €6,963 (+13.3%), from €52,456 to €59,419
- Gross operating margin +€87,613
up €87,613 (+17.8%), from €492,192 to €579,805
- Taxes +€15,079
up €15,079 (+271.7%), from €5,549 to €20,628
- Staff costs +€12,951
up €12,951 (+4.2%), from €305,413 to €318,364
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 | €657,745 | €535,252 | -€122,493 | -18.6% |
| Fixed assets | 21/28 | €536,964 | €390,302 | -€146,661 | -27.3% |
| Intangible fixed assets | 21 | €313,600 | €268,800 | -€44,800 | -14.3% |
| Tangible fixed assets | 22/27 | €223,364 | €121,502 | -€101,861 | -45.6% |
| Plant, machinery and equipment | 23 | €153,498 | €78,665 | -€74,833 | -48.8% |
| Furniture and vehicles | 24 | €49,861 | €17,098 | -€32,764 | -65.7% |
| Other tangible fixed assets | 26 | €20,005 | €25,740 | +€5,735 | +28.7% |
| Current assets | 29/58 | €120,781 | €144,950 | +€24,168 | +20.0% |
| Stocks and contracts in progress | 3 | €73,089 | €65,393 | -€7,696 | -10.5% |
| Stocks | 30/36 | €73,089 | €65,393 | -€7,696 | -10.5% |
| Amounts receivable within one year | 40/41 | €36,162 | €22,854 | -€13,309 | -36.8% |
| Other amounts receivable | 41 | €36,162 | €22,854 | -€13,309 | -36.8% |
| Cash at bank and in hand | 54/58 | €11,530 | €56,127 | +€44,597 | +386.8% |
| Deferred charges and accrued income | 490/1 | €0 | €576 | +€576 | |
| Total equity and liabilities | 10/49 | €657,745 | €535,252 | -€122,493 | -18.6% |
| Equity | 10/15 | €77,697 | €20,146 | -€57,550 | -74.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €59,097 | €1,546 | -€57,550 | -97.4% |
| Distributable reserves | 133 | €59,097 | €1,546 | -€57,550 | -97.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €580,049 | €515,106 | -€64,943 | -11.2% |
| Amounts payable after more than one year | 17 | €184,742 | €178,866 | -€5,876 | -3.2% |
| Financial debts | 170/4 | €184,742 | €178,866 | -€5,876 | -3.2% |
| Amounts payable within one year | 42/48 | €395,307 | €336,240 | -€59,067 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €52,456 | €59,419 | +€6,963 | +13.3% |
| Trade debts | 44 | €70,945 | €43,296 | -€27,649 | -39.0% |
| Suppliers | 440/4 | €70,945 | €43,296 | -€27,649 | -39.0% |
| Advances received on contracts in progress | 46 | €456 | €0 | -€456 | -100.0% |
| Taxes, remuneration and social security | 45 | €58,508 | €69,287 | +€10,779 | +18.4% |
| Taxes | 450/3 | €28,003 | €42,419 | +€14,416 | +51.5% |
| Remuneration and social security | 454/9 | €30,505 | €26,868 | -€3,637 | -11.9% |
| Other amounts payable | 47/48 | €212,942 | €164,238 | -€48,704 | -22.9% |
| Non-recurring operating income | 76A | - | €1,800 | +€1,800 | |
| Remuneration, social security and pensions | 62 | €305,413 | €318,364 | +€12,951 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,297 | €136,801 | -€5,496 | -3.9% |
| Other operating charges | 640/8 | €8,629 | €4,779 | -€3,850 | -44.6% |
| Non-recurring operating charges | 66A | - | €9,672 | +€9,672 | |
| Gross operating margin | 9900 | €492,192 | €579,805 | +€87,613 | +17.8% |
| Operating profit (loss) | 9901 | €35,853 | €110,189 | +€74,336 | +207.3% |
| Financial income | 75/76B | €1 | €40 | +€39 | +5853.7% |
| Recurring financial income | 75 | €1 | €40 | +€39 | +5853.7% |
| Financial charges | 65/66B | €18,134 | €17,151 | -€983 | -5.4% |
| Recurring financial charges | 65 | €18,134 | €17,151 | -€983 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €17,719 | €93,078 | +€75,359 | +425.3% |
| Income taxes | 67/77 | €5,549 | €20,628 | +€15,079 | +271.7% |
| Profit (loss) for the period | 9904 | €12,170 | €72,450 | +€60,280 | +495.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,170 | €72,450 | +€60,280 | +495.3% |
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 11 October 2026 via checked.be.