CEDRIC MALI: 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.
CEDRIC MALI
Largest movements
- Cash +€84,700
up €84,700 (+57.0%), from €148,592 to €233,292
mainly Other debts (+€392,144) and Net result for the year (+€88,384)
- Current investments -€46,800
down €46,800 (-21.1%), from €221,800 to €175,000
- Other debts +€392,144
new in 2025: €392,144
- Reserves -€365,502
down €365,502 (-59.5%), from €613,787 to €248,286
- Tax, wage and social debts +€13,157
up €13,157 (+29.2%), from €45,056 to €58,213
- Gross operating margin +€37,534
up €37,534 (+59.2%), from €63,380 to €100,914
- Taxes +€8,846
up €8,846 (+2,885%), from €307 to €9,152
- Depreciation -€2,942
down €2,942 (-45.1%), from €6,525 to €3,582
- Financial income +€2,302
up €2,302 (+217%), from €1,061 to €3,363
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 | €540,224 | €575,931 | +€35,707 | +6.6% |
| Fixed assets | 21/28 | €17,814 | €15,360 | -€2,453 | -13.8% |
| Tangible fixed assets | 22/27 | €17,814 | €15,360 | -€2,453 | -13.8% |
| Furniture and vehicles | 24 | €4,753 | €2,318 | -€2,435 | -51.2% |
| Other tangible fixed assets | 26 | €13,061 | €13,042 | -€18 | -0.1% |
| Current assets | 29/58 | €522,411 | €560,571 | +€38,160 | +7.3% |
| Amounts receivable within one year | 40/41 | €150,297 | €150,007 | -€290 | -0.2% |
| Trade receivables | 40 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 41 | €297 | €7 | -€290 | -97.6% |
| Current investments | 50/53 | €221,800 | €175,000 | -€46,800 | -21.1% |
| Cash at bank and in hand | 54/58 | €148,592 | €233,292 | +€84,700 | +57.0% |
| Deferred charges and accrued income | 490/1 | €1,723 | €2,272 | +€550 | +31.9% |
| Total equity and liabilities | 10/49 | €540,224 | €575,931 | +€35,707 | +6.6% |
| Equity | 10/15 | €491,008 | €125,507 | -€365,502 | -74.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €613,787 | €248,286 | -€365,502 | -59.5% |
| Distributable reserves | 133 | €613,787 | €248,286 | -€365,502 | -59.5% |
| Profit (loss) carried forward | 14 | -€128,979 | -€128,979 | = | 0.0% |
| Amounts payable | 17/49 | €49,216 | €450,424 | +€401,208 | +815% |
| Amounts payable within one year | 42/48 | €49,216 | €450,424 | +€401,208 | +815% |
| Trade debts | 44 | €4,160 | €67 | -€4,092 | -98.4% |
| Suppliers | 440/4 | €4,160 | €67 | -€4,092 | -98.4% |
| Taxes, remuneration and social security | 45 | €45,056 | €58,213 | +€13,157 | +29.2% |
| Taxes | 450/3 | €45,056 | €58,213 | +€13,157 | +29.2% |
| Other amounts payable | 47/48 | - | €392,144 | +€392,144 | |
| Non-recurring operating income | 76A | - | €12,600 | +€12,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,525 | €3,582 | -€2,942 | -45.1% |
| Other operating charges | 640/8 | €1,773 | €1,721 | -€52 | -3.0% |
| Gross operating margin | 9900 | €63,380 | €100,914 | +€37,534 | +59.2% |
| Operating profit (loss) | 9901 | €55,082 | €95,611 | +€40,528 | +73.6% |
| Financial income | 75/76B | €1,061 | €3,363 | +€2,302 | +217% |
| Recurring financial income | 75 | €1,061 | €3,363 | +€2,302 | +217% |
| Financial charges | 65/66B | €1,845 | €1,438 | -€407 | -22.1% |
| Recurring financial charges | 65 | €1,845 | €1,438 | -€407 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €54,299 | €97,536 | +€43,237 | +79.6% |
| Income taxes | 67/77 | €307 | €9,152 | +€8,846 | +2,885% |
| Profit (loss) for the period | 9904 | €53,992 | €88,384 | +€34,392 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,992 | €88,384 | +€34,392 | +63.7% |
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 30 October 2026 via checked.be.