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Ceef: 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.

What changed

Ceef

BE 0501.828.906
NACE 46.831, Wholesale of construction materials, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2,229
2024 · €1,748+€481
Equity
€38,792
2024 · €36,563+€2,229
Cash
€35,633
2024 · €31,523+€4,110
Balance sheet total
€88,555
2024 · €110,802-€22,247

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets -€20,069

    down €20,069 (-31.5%), from €63,721 to €43,652

    of which Furniture and vehicles: -€17,135

  • Receivables within one year -€6,455

    down €6,455 (-43.6%), from €14,797 to €8,342

    of which Trade receivables: -€9,127

  • Cash +€4,110

    up €4,110 (+13.0%), from €31,523 to €35,633

    mainly Depreciation (+€20,069) and Receivables within one year (+€6,455)

Equity and liabilities
  • Debts after one year -€17,187

    down €17,187 (-40.6%), from €42,281 to €25,094

  • Advances received -€11,180

    no longer reported in 2025 (was €11,180)

  • Trade debts +€4,571

    new in 2025: €4,571

  • Profit (loss) carried forward +€2,229

    new in 2025: €2,229

  • Tax, wage and social debts -€1,194

    down €1,194 (-29.7%), from €4,014 to €2,820

Income statement
  • Gross operating margin -€3,293

    down €3,293 (-10.3%), from €32,109 to €28,816

  • Depreciation -€1,988

    down €1,988 (-9.0%), from €22,057 to €20,069

  • Taxes -€954

    down €954 (-22.9%), from €4,167 to €3,213

  • Financial charges -€337

    down €337 (-18.7%), from €1,803 to €1,466

  • Other operating charges -€325

    down €325 (-13.9%), from €2,334 to €2,009

From the 2024 result to the 2025 result

effect on the 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 €1,748
Gross operating margin -€3,293
Depreciation +€1,988
Other operating charges +€325
Financial income +€169
Financial charges +€337
Taxes +€954
Result 2025 €2,229

Cash bridge derived

cash 2024 to 2025

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 +€20,865
Investment +€9
Financing -€16,763
Cash 2024 €31,523
Net result for the year +€2,229
Depreciation +€20,069
Receivables within one year +€6,455
Deferred charges and accrued income -€176
Trade debts +€4,571
Tax, wage and social debts -€1,194
Advances received -€11,180
Accrued charges and deferred income +€89
Investment in fixed assets (net) +€9
Debts after one year -€17,187
Current portion of long-term debt +€423
Contributions, distributions and other +€0
Cash 2025 €35,633
Every line side by side 40 lines
Line Code 2024 2025 Change %
Total assets 20/58 €110,802 €88,555 -€22,247 -20.1%
Fixed assets 21/28 €63,730 €43,652 -€20,078 -31.5%
Tangible fixed assets 22/27 €63,721 €43,652 -€20,069 -31.5%
Plant, machinery and equipment 23 €4,896 €1,962 -€2,934 -59.9%
Furniture and vehicles 24 €58,825 €41,690 -€17,135 -29.1%
Financial fixed assets 28 €9 - -€9
Current assets 29/58 €47,072 €44,903 -€2,169 -4.6%
Amounts receivable within one year 40/41 €14,797 €8,342 -€6,455 -43.6%
Trade receivables 40 €12,101 €2,974 -€9,127 -75.4%
Other amounts receivable 41 €2,696 €5,368 +€2,672 +99.1%
Cash at bank and in hand 54/58 €31,523 €35,633 +€4,110 +13.0%
Deferred charges and accrued income 490/1 €752 €928 +€176 +23.4%
Total equity and liabilities 10/49 €110,802 €88,555 -€22,247 -20.1%
Equity 10/15 €36,563 €38,792 +€2,229 +6.1%
Reserves 13 €36,563 €36,563 +€0 0.0%
Distributable reserves 133 €36,563 €36,563 +€0 0.0%
Profit (loss) carried forward 14 - €2,229 +€2,229
Amounts payable 17/49 €74,239 €49,763 -€24,476 -33.0%
Amounts payable after more than one year 17 €42,281 €25,094 -€17,187 -40.6%
Financial debts 170/4 €42,281 €25,094 -€17,187 -40.6%
Amounts payable within one year 42/48 €31,958 €24,579 -€7,379 -23.1%
Current portion of amounts payable after more than one year 42 €16,764 €17,187 +€423 +2.5%
Trade debts 44 - €4,571 +€4,571
Suppliers 440/4 - €4,571 +€4,571
Advances received on contracts in progress 46 €11,180 - -€11,180
Taxes, remuneration and social security 45 €4,014 €2,820 -€1,194 -29.7%
Taxes 450/3 €4,014 €2,820 -€1,194 -29.7%
Accrued charges and deferred income 492/3 - €89 +€89
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €22,057 €20,069 -€1,988 -9.0%
Other operating charges 640/8 €2,334 €2,009 -€325 -13.9%
Gross operating margin 9900 €32,109 €28,816 -€3,293 -10.3%
Operating profit (loss) 9901 €7,718 €6,739 -€979 -12.7%
Financial income 75/76B - €169 +€169
Recurring financial income 75 - €169 +€169
Financial charges 65/66B €1,803 €1,466 -€337 -18.7%
Recurring financial charges 65 €1,803 €1,466 -€337 -18.7%
Profit (loss) for the period before taxes 9903 €5,915 €5,442 -€473 -8.0%
Income taxes 67/77 €4,167 €3,213 -€954 -22.9%
Profit (loss) for the period 9904 €1,748 €2,229 +€481 +27.5%
Profit (loss) for the period to be appropriated 9905 €1,748 €2,229 +€481 +27.5%

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.