CEFIL: 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
CEFIL
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€96,196
2024 · €94,654+€1,542
Equity
€2.2m
2024 · €2.3m-€115,935
Cash
€216,633
2024 · €39,161+€177,471
Balance sheet total
€2.7m
2024 · €2.6m+€98,333
Largest movements
Assets
- Cash +€177,471
up €177,471 (+453.2%), from €39,161 to €216,633
mainly Other debts (+€199,125) and Net result for the year (+€96,196)
- Tangible fixed assets -€72,925
down €72,925 (-3.7%), from €2.0m to €1.9m
of which Land and buildings: -€39,274
Equity and liabilities
- Other debts +€199,125
up €199,125 (+6782.8%), from €2,936 to €202,060
- Reserves -€115,935
down €115,935 (-5.9%), from €2.0m to €1.8m
of which Distributable reserves: -€93,654
Income statement
- Gross operating margin +€8,532
up €8,532 (+3.1%), from €278,120 to €286,653
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
€94,654
Gross operating margin
+€8,532
Depreciation
-€2,632
Other operating charges
-€1,392
Financial income
-€435
Financial charges
-€23
Taxes
-€2,515
Deferred taxes and other
+€6
Result 2025
€96,196
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.
From operations
+€397,934
Investment
-€8,332
Financing
-€212,131
Cash 2024
€39,161
From operations (derived)
+€397,934
Net result for the year
+€96,196
Depreciation
+€81,257
Receivables within one year
+€8,291
Deferred charges and accrued income
-€2,078
Provisions
-€7,427
Trade debts
-€812
Tax, wage and social debts
+€23,383
Other debts
+€199,125
Investment (derived)
-€8,332
Investment in fixed assets (net)
-€8,332
Financing
-€212,131
Contributions, distributions and other
-€212,131
Cash 2025
€216,633
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,572,034 | €2,670,368 | +€98,333 | +3.8% |
| Fixed assets | 21/28 | €1,992,279 | €1,919,354 | -€72,925 | -3.7% |
| Tangible fixed assets | 22/27 | €1,992,079 | €1,919,154 | -€72,925 | -3.7% |
| Land and buildings | 22 | €1,699,764 | €1,660,490 | -€39,274 | -2.3% |
| Plant, machinery and equipment | 23 | €4,053 | €2,903 | -€1,150 | -28.4% |
| Furniture and vehicles | 24 | €6,236 | €4,632 | -€1,604 | -25.7% |
| Leasing and similar rights | 25 | €261,824 | €236,922 | -€24,902 | -9.5% |
| Other tangible fixed assets | 26 | €20,202 | €14,207 | -€5,995 | -29.7% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €579,755 | €751,014 | +€171,258 | +29.5% |
| Amounts receivable within one year | 40/41 | €61,157 | €52,867 | -€8,291 | -13.6% |
| Trade receivables | 40 | €57,889 | €52,867 | -€5,022 | -8.7% |
| Other amounts receivable | 41 | €3,269 | €0 | -€3,269 | -100.0% |
| Current investments | 50/53 | €475,714 | €475,714 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,161 | €216,633 | +€177,471 | +453.2% |
| Deferred charges and accrued income | 490/1 | €3,723 | €5,800 | +€2,078 | +55.8% |
| Total equity and liabilities | 10/49 | €2,572,034 | €2,670,368 | +€98,333 | +3.8% |
| Equity | 10/15 | €2,337,370 | €2,221,435 | -€115,935 | -5.0% |
| Contributions | 10/11 | €228,064 | €228,064 | = | 0.0% |
| Reserves | 13 | €1,963,342 | €1,847,407 | -€115,935 | -5.9% |
| Non-distributable reserves | 130/1 | €554,915 | €554,915 | = | 0.0% |
| Reserves not available under the articles | 1311 | €79,201 | €79,201 | = | 0.0% |
| Own shares acquired | 1312 | €475,714 | €475,714 | = | 0.0% |
| Tax-exempt reserves | 132 | €655,275 | €632,994 | -€22,281 | -3.4% |
| Distributable reserves | 133 | €753,151 | €659,498 | -€93,654 | -12.4% |
| Profit (loss) carried forward | 14 | €145,964 | €145,964 | = | 0.0% |
| Provisions and deferred taxes | 16 | €218,425 | €210,998 | -€7,427 | -3.4% |
| Deferred taxes | 168 | €218,425 | €210,998 | -€7,427 | -3.4% |
| Amounts payable | 17/49 | €16,239 | €237,934 | +€221,695 | +1365.2% |
| Amounts payable within one year | 42/48 | €16,239 | €237,934 | +€221,695 | +1365.2% |
| Trade debts | 44 | €2,940 | €2,128 | -€812 | -27.6% |
| Suppliers | 440/4 | €2,940 | €2,128 | -€812 | -27.6% |
| Taxes, remuneration and social security | 45 | €10,363 | €33,746 | +€23,383 | +225.6% |
| Taxes | 450/3 | €10,363 | €33,746 | +€23,383 | +225.6% |
| Other amounts payable | 47/48 | €2,936 | €202,060 | +€199,125 | +6782.8% |
| Non-recurring operating income | 76A | €2,066 | €11,756 | +€9,690 | +469.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,626 | €81,257 | +€2,632 | +3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €45,818 | €47,210 | +€1,392 | +3.0% |
| Gross operating margin | 9900 | €278,120 | €286,653 | +€8,532 | +3.1% |
| Operating profit (loss) | 9901 | €153,677 | €158,186 | +€4,509 | +2.9% |
| Financial income | 75/76B | €725 | €290 | -€435 | -60.0% |
| Recurring financial income | 75 | €725 | €290 | -€435 | -60.0% |
| Financial charges | 65/66B | €587 | €610 | +€23 | +3.9% |
| Recurring financial charges | 65 | €587 | €610 | +€23 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €153,816 | €157,866 | +€4,051 | +2.6% |
| Transfer from deferred taxes | 780 | €7,421 | €7,427 | +€6 | +0.1% |
| Income taxes | 67/77 | €66,582 | €69,098 | +€2,515 | +3.8% |
| Profit (loss) for the period | 9904 | €94,654 | €96,196 | +€1,542 | +1.6% |
| Transfer from tax-exempt reserves | 789 | €22,263 | €22,281 | +€19 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €116,917 | €118,477 | +€1,560 | +1.3% |
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 4 October 2026 via checked.be.