CEDRIC DE ROECK: 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.
What changed
CEDRIC DE ROECK
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€154,989
2024 · €128,341+€26,648
Equity
€268,675
2024 · €263,686+€4,989
Cash
€496,131
2024 · €501,113-€4,982
Balance sheet total
€553,787
2024 · €566,010-€12,223
Largest movements
Assets
- Intangible fixed assets -€10,000
down €10,000 (-16.6%), from €60,384 to €50,384
Equity and liabilities
- Other debts -€18,379
down €18,379 (-6.9%), from €267,502 to €249,123
Income statement
- Gross operating margin +€23,389
up €23,389 (+11.9%), from €197,107 to €220,496
- Depreciation -€4,470
down €4,470 (-30.2%), from €14,787 to €10,317
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.
Result 2024
€128,341
Gross operating margin
+€23,389
Depreciation
+€4,470
Other operating charges
-€12
Financial income
+€67
Financial charges
+€863
Taxes
-€2,128
Result 2025
€154,989
raises the resultlowers the result
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.
From operations
+€147,501
Investment
-€2,483
Financing
-€150,000
Cash 2024
€501,113
From operations (derived)
+€147,501
Net result for the year
+€154,989
Depreciation
+€10,317
Receivables within one year
-€2,631
Deferred charges and accrued income
+€2,037
Trade debts
-€18
Tax, wage and social debts
+€2,000
Other debts
-€18,379
Accrued charges and deferred income
-€815
Investment (derived)
-€2,483
Investment in fixed assets (net)
-€2,483
Financing
-€150,000
Contributions, distributions and other
-€150,000
Cash 2025
€496,131
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €566,010 | €553,787 | -€12,223 | -2.2% |
| Fixed assets | 21/28 | €60,551 | €52,717 | -€7,835 | -12.9% |
| Intangible fixed assets | 21 | €60,384 | €50,384 | -€10,000 | -16.6% |
| Tangible fixed assets | 22/27 | €168 | €2,333 | +€2,165 | +1,290% |
| Furniture and vehicles | 24 | €168 | €2,333 | +€2,165 | +1,290% |
| Current assets | 29/58 | €505,459 | €501,071 | -€4,388 | -0.9% |
| Amounts receivable within one year | 40/41 | €337 | €2,968 | +€2,631 | +781% |
| Other amounts receivable | 41 | €337 | €2,968 | +€2,631 | +781% |
| Cash at bank and in hand | 54/58 | €501,113 | €496,131 | -€4,982 | -1.0% |
| Deferred charges and accrued income | 490/1 | €4,009 | €1,972 | -€2,037 | -50.8% |
| Total equity and liabilities | 10/49 | €566,010 | €553,787 | -€12,223 | -2.2% |
| Equity | 10/15 | €263,686 | €268,675 | +€4,989 | +1.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €250,000 | €250,000 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,686 | €8,675 | +€4,989 | +135% |
| Amounts payable | 17/49 | €302,324 | €285,112 | -€17,212 | -5.7% |
| Amounts payable within one year | 42/48 | €294,548 | €278,151 | -€16,397 | -5.6% |
| Trade debts | 44 | €47 | €28 | -€18 | -39.3% |
| Suppliers | 440/4 | €47 | €28 | -€18 | -39.3% |
| Taxes, remuneration and social security | 45 | €27,000 | €29,000 | +€2,000 | +7.4% |
| Taxes | 450/3 | €27,000 | €29,000 | +€2,000 | +7.4% |
| Other amounts payable | 47/48 | €267,502 | €249,123 | -€18,379 | -6.9% |
| Accrued charges and deferred income | 492/3 | €7,775 | €6,961 | -€815 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,787 | €10,317 | -€4,470 | -30.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €197,107 | €220,496 | +€23,389 | +11.9% |
| Operating profit (loss) | 9901 | €181,932 | €209,778 | +€27,846 | +15.3% |
| Financial income | 75/76B | - | €67 | +€67 | |
| Recurring financial income | 75 | - | €67 | +€67 | |
| Financial charges | 65/66B | €8,574 | €7,711 | -€863 | -10.1% |
| Recurring financial charges | 65 | €8,574 | €7,711 | -€863 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €173,358 | €202,134 | +€28,776 | +16.6% |
| Income taxes | 67/77 | €45,017 | €47,145 | +€2,128 | +4.7% |
| Profit (loss) for the period | 9904 | €128,341 | €154,989 | +€26,648 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €128,341 | €154,989 | +€26,648 | +20.8% |
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 23 October 2026 via checked.be.