Cefyr: 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.
Cefyr
Largest movements
- Cash +€7,939
up €7,939 (+3.9%), from €203,480 to €211,419
mainly Depreciation (+€14,223) and Current investments (+€7,035)
- Current investments -€7,035
down €7,035 (-100%), from €7,035 to €0
- Tangible fixed assets -€5,323
down €5,323 (-2.6%), from €206,801 to €201,478
of which Land and buildings: -€5,926
- Other debts -€5,072
down €5,072 (-3.6%), from €141,054 to €135,982
- Gross operating margin +€4,648
up €4,648 (+14.9%), from €31,300 to €35,948
- Depreciation +€1,404
up €1,404 (+11.0%), from €12,819 to €14,223
- Financial charges -€1,386
down €1,386 (-12.7%), from €10,903 to €9,518
- Financial income +€513
up €513 (+80.9%), from €634 to €1,147
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 | €428,139 | €423,141 | -€4,998 | -1.2% |
| Fixed assets | 21/28 | €206,801 | €201,478 | -€5,323 | -2.6% |
| Tangible fixed assets | 22/27 | €206,801 | €201,478 | -€5,323 | -2.6% |
| Land and buildings | 22 | €142,623 | €136,697 | -€5,926 | -4.2% |
| Other tangible fixed assets | 26 | €64,179 | €64,781 | +€602 | +0.9% |
| Current assets | 29/58 | €221,338 | €221,664 | +€326 | +0.1% |
| Amounts receivable within one year | 40/41 | €1,011 | €0 | -€1,011 | -100% |
| Other amounts receivable | 41 | €1,011 | €0 | -€1,011 | -100% |
| Current investments | 50/53 | €7,035 | €0 | -€7,035 | -100% |
| Cash at bank and in hand | 54/58 | €203,480 | €211,419 | +€7,939 | +3.9% |
| Deferred charges and accrued income | 490/1 | €9,812 | €10,245 | +€433 | +4.4% |
| Total equity and liabilities | 10/49 | €428,139 | €423,141 | -€4,998 | -1.2% |
| Equity | 10/15 | €285,776 | €285,918 | +€143 | 0.0% |
| Contributions | 10/11 | €304,000 | €304,000 | = | 0.0% |
| Reserves | 13 | €12,400 | €12,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,624 | -€30,482 | +€143 | +0.5% |
| Amounts payable | 17/49 | €142,363 | €137,223 | -€5,140 | -3.6% |
| Amounts payable within one year | 42/48 | €142,000 | €137,223 | -€4,776 | -3.4% |
| Trade debts | 44 | €744 | €983 | +€239 | +32.1% |
| Suppliers | 440/4 | €744 | €983 | +€239 | +32.1% |
| Taxes, remuneration and social security | 45 | €202 | €259 | +€57 | +28.1% |
| Taxes | 450/3 | €202 | €259 | +€57 | +28.1% |
| Other amounts payable | 47/48 | €141,054 | €135,982 | -€5,072 | -3.6% |
| Accrued charges and deferred income | 492/3 | €364 | €0 | -€364 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,819 | €14,223 | +€1,404 | +11.0% |
| Other operating charges | 640/8 | €6,831 | €6,988 | +€156 | +2.3% |
| Non-recurring operating charges | 66A | - | €5,823 | +€5,823 | |
| Gross operating margin | 9900 | €31,300 | €35,948 | +€4,648 | +14.9% |
| Operating profit (loss) | 9901 | €11,649 | €8,914 | -€2,735 | -23.5% |
| Financial income | 75/76B | €634 | €1,147 | +€513 | +80.9% |
| Recurring financial income | 75 | €634 | €1,147 | +€513 | +80.9% |
| Financial charges | 65/66B | €10,903 | €9,518 | -€1,386 | -12.7% |
| Recurring financial charges | 65 | €10,903 | €9,518 | -€1,386 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €1,380 | €543 | -€836 | -60.6% |
| Income taxes | 67/77 | €392 | €401 | +€9 | +2.2% |
| Profit (loss) for the period | 9904 | €988 | €143 | -€845 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €988 | €143 | -€845 | -85.6% |
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 29 October 2026 via checked.be.