CEGECO: 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.
CEGECO
Largest movements
- Current investments +€105,000
new in 2025: €105,000
- Cash -€69,112
down €69,112 (-86.0%), from €80,349 to €11,236
mainly Current investments (-€105,000) and Contributions, distributions and other (-€79,000)
- Receivables within one year -€5,472
down €5,472 (-32.8%), from €16,697 to €11,224
of which Trade receivables: -€7,050
- Other debts +€81,573
up €81,573 (+28.1%), from €290,191 to €371,764
- Reserves -€49,794
down €49,794 (-98.5%), from €50,537 to €742
- Gross operating margin -€7,906
down €7,906 (-15.0%), from €52,649 to €44,743
- Financial charges +€2,460
up €2,460 (+88.6%), from €2,778 to €5,238
- Taxes -€2,399
down €2,399 (-18.3%), from €13,113 to €10,713
- Financial income +€942
new in 2025: €942
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 | €368,809 | €397,550 | +€28,741 | +7.8% |
| Fixed assets | 21/28 | €270,005 | €270,005 | = | 0.0% |
| Financial fixed assets | 28 | €270,005 | €270,005 | = | 0.0% |
| Current assets | 29/58 | €98,804 | €127,545 | +€28,741 | +29.1% |
| Amounts receivable within one year | 40/41 | €16,697 | €11,224 | -€5,472 | -32.8% |
| Trade receivables | 40 | €13,705 | €6,655 | -€7,050 | -51.4% |
| Other amounts receivable | 41 | €2,992 | €4,569 | +€1,578 | +52.7% |
| Current investments | 50/53 | - | €105,000 | +€105,000 | |
| Cash at bank and in hand | 54/58 | €80,349 | €11,236 | -€69,112 | -86.0% |
| Deferred charges and accrued income | 490/1 | €1,759 | €85 | -€1,674 | -95.2% |
| Total equity and liabilities | 10/49 | €368,809 | €397,550 | +€28,741 | +7.8% |
| Equity | 10/15 | €69,137 | €19,342 | -€49,794 | -72.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,537 | €742 | -€49,794 | -98.5% |
| Distributable reserves | 133 | €50,537 | €742 | -€49,794 | -98.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €299,673 | €378,208 | +€78,535 | +26.2% |
| Amounts payable within one year | 42/48 | €299,673 | €378,208 | +€78,535 | +26.2% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €9,481 | €6,444 | -€3,037 | -32.0% |
| Taxes | 450/3 | €9,481 | €6,444 | -€3,037 | -32.0% |
| Other amounts payable | 47/48 | €290,191 | €371,764 | +€81,573 | +28.1% |
| Non-recurring operating income | 76A | €3,000 | €0 | -€3,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €576 | €528 | -€49 | -8.4% |
| Gross operating margin | 9900 | €52,649 | €44,743 | -€7,906 | -15.0% |
| Operating profit (loss) | 9901 | €52,073 | €44,215 | -€7,857 | -15.1% |
| Financial income | 75/76B | - | €942 | +€942 | |
| Recurring financial income | 75 | - | €942 | +€942 | |
| Financial charges | 65/66B | €2,778 | €5,238 | +€2,460 | +88.6% |
| Recurring financial charges | 65 | €2,778 | €5,238 | +€2,460 | +88.6% |
| Profit (loss) for the period before taxes | 9903 | €49,295 | €39,919 | -€9,376 | -19.0% |
| Income taxes | 67/77 | €13,113 | €10,713 | -€2,399 | -18.3% |
| Profit (loss) for the period | 9904 | €36,182 | €29,206 | -€6,976 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,182 | €29,206 | -€6,976 | -19.3% |
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 25 October 2026 via checked.be.