CEDYVER: 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.
CEDYVER
Largest movements
- Tangible fixed assets +€63,570
up €63,570 (+21.0%), from €302,035 to €365,605
of which Furniture and vehicles: +€79,529
- Receivables within one year +€59,360
up €59,360 (+183%), from €32,373 to €91,733
- Cash -€30,584
down €30,584 (-56.7%), from €53,974 to €23,389
mainly Contributions, distributions and other (-€168,426) and Investment in fixed assets (net) (-€101,584)
- Reserves -€104,742
no longer reported in 2025 (was €104,742)
of which Distributable reserves: -€104,600
- Other debts +€64,454
up €64,454 (+109%), from €59,256 to €123,710
- Trade debts +€48,738
up €48,738 (+750%), from €6,501 to €55,239
- Debts after one year +€29,025
up €29,025 (+17.0%), from €171,217 to €200,242
- Tax, wage and social debts +€27,228
up €27,228 (+170%), from €16,044 to €43,272
- Gross operating margin +€37,410
up €37,410 (+36.2%), from €103,429 to €140,839
- Depreciation +€21,936
up €21,936 (+136%), from €16,078 to €38,014
- Taxes +€7,248
up €7,248 (+44.8%), from €16,181 to €23,429
- Financial charges -€4,174
down €4,174 (-33.4%), from €12,499 to €8,325
- Provisions +€4,009
new in 2025: €4,009
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 | €388,621 | €483,515 | +€94,894 | +24.4% |
| Fixed assets | 21/28 | €302,035 | €365,605 | +€63,570 | +21.0% |
| Tangible fixed assets | 22/27 | €302,035 | €365,605 | +€63,570 | +21.0% |
| Land and buildings | 22 | €300,623 | €284,844 | -€15,779 | -5.2% |
| Plant, machinery and equipment | 23 | €179 | - | -€179 | |
| Furniture and vehicles | 24 | €1,232 | €80,761 | +€79,529 | +6,454% |
| Current assets | 29/58 | €86,586 | €117,910 | +€31,324 | +36.2% |
| Amounts receivable within one year | 40/41 | €32,373 | €91,733 | +€59,360 | +183% |
| Trade receivables | 40 | €32,373 | €91,733 | +€59,360 | +183% |
| Cash at bank and in hand | 54/58 | €53,974 | €23,389 | -€30,584 | -56.7% |
| Deferred charges and accrued income | 490/1 | €239 | €2,787 | +€2,548 | +1,065% |
| Total equity and liabilities | 10/49 | €388,621 | €483,515 | +€94,894 | +24.4% |
| Equity | 10/15 | €123,292 | €18,550 | -€104,742 | -85.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €104,742 | - | -€104,742 | |
| Non-distributable reserves | 130/1 | €142 | - | -€142 | |
| Reserves not available under the articles | 1311 | €142 | - | -€142 | |
| Distributable reserves | 133 | €104,600 | - | -€104,600 | |
| Provisions and deferred taxes | 16 | - | €4,009 | +€4,009 | |
| Provisions for liabilities and charges | 160/5 | - | €4,009 | +€4,009 | |
| Major repairs and maintenance | 162 | - | €4,009 | +€4,009 | |
| Amounts payable | 17/49 | €265,329 | €460,956 | +€195,627 | +73.7% |
| Amounts payable after more than one year | 17 | €171,217 | €200,242 | +€29,025 | +17.0% |
| Financial debts | 170/4 | €171,217 | €200,242 | +€29,025 | +17.0% |
| Amounts payable within one year | 42/48 | €92,612 | €259,214 | +€166,602 | +180% |
| Current portion of amounts payable after more than one year | 42 | €10,811 | €36,994 | +€26,183 | +242% |
| Trade debts | 44 | €6,501 | €55,239 | +€48,738 | +750% |
| Suppliers | 440/4 | €6,501 | €55,239 | +€48,738 | +750% |
| Taxes, remuneration and social security | 45 | €16,044 | €43,272 | +€27,228 | +170% |
| Taxes | 450/3 | €16,044 | €43,272 | +€27,228 | +170% |
| Other amounts payable | 47/48 | €59,256 | €123,710 | +€64,454 | +109% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,078 | €38,014 | +€21,936 | +136% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €4,009 | +€4,009 | |
| Other operating charges | 640/8 | €3,164 | €3,380 | +€216 | +6.8% |
| Non-recurring operating charges | 66A | €12,135 | - | -€12,135 | |
| Gross operating margin | 9900 | €103,429 | €140,839 | +€37,410 | +36.2% |
| Operating profit (loss) | 9901 | €72,053 | €95,437 | +€23,384 | +32.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -79.4% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -79.4% |
| Financial charges | 65/66B | €12,499 | €8,325 | -€4,174 | -33.4% |
| Recurring financial charges | 65 | €12,499 | €8,325 | -€4,174 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €59,556 | €87,113 | +€27,557 | +46.3% |
| Income taxes | 67/77 | €16,181 | €23,429 | +€7,248 | +44.8% |
| Profit (loss) for the period | 9904 | €43,375 | €63,684 | +€20,309 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,375 | €63,684 | +€20,309 | +46.8% |
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 27 October 2026 via checked.be.