Cegeka Holding: 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.
What changed
Cegeka Holding
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19.5m
2024 · €47.7m-€28.2m
Equity
€272.5m
2024 · €253.2m+€19.3m
Cash
€402,807
2024 · €484,067-€81,260
Balance sheet total
€378.2m
2024 · €374.4m+€3.9m
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward +€28.9m
up €28.9m (+17.9%), from €161.6m to €190.5m
- Debts after one year -€20.4m
down €20.4m (-31.0%), from €65.8m to €45.4m
- Contributions -€10.3m
down €10.3m (-12.4%), from €83.2m to €72.9m
- Other debts +€5.4m
up €5.4m (+17.9%), from €30.4m to €35.8m
Income statement
- Financial income -€27.7m
down €27.7m (-52.0%), from €53.2m to €25.6m
- Services and other goods +€2.3m
up €2.3m (+45.4%), from €5.1m to €7.4m
- Turnover +€1.9m
up €1.9m (+35.7%), from €5.3m to €7.2m
- Financial charges +€103,142
up €103,142 (+2.0%), from €5.3m to €5.4m
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
€47.7m
Turnover
+€1.9m
Other operating income
-€16,432
Services and other goods
-€2.3m
Staff costs
-€11,904
Other operating charges
-€31
Financial income
-€27.7m
Financial charges
-€103,142
Taxes
+€101
Result 2025
€19.5m
raises the resultlowers the result
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.
From operations
+€24.7m
Investment
-€3.5m
Financing
-€21.4m
Cash 2024
€484,067
From operations (derived)
+€24.7m
Net result for the year
+€19.5m
Receivables within one year
-€620,447
Deferred charges and accrued income
+€145,372
Trade debts
-€46,580
Tax, wage and social debts
-€65,839
Other debts
+€5.4m
Accrued charges and deferred income
+€365,006
Investment (derived)
-€3.5m
Investment in fixed assets (net)
-€3.5m
Financing
-€21.4m
Debts after one year
-€20.4m
Current portion of long-term debt
-€2.1m
Short-term financial debts
+€1.4m
Contributions, distributions and other
-€250,000
Cash 2025
€402,807
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €374,383,906 | €378,244,722 | +€3.9m | +1.0% |
| Fixed assets | 21/28 | €371,017,262 | €374,484,262 | +€3.5m | +0.9% |
| Financial fixed assets | 28 | €371,017,262 | €374,484,262 | +€3.5m | +0.9% |
| Affiliated companies | 280/1 | €354,350,262 | €348,650,262 | -€5.7m | -1.6% |
| Participating interests | 280 | €354,350,262 | €348,650,262 | -€5.7m | -1.6% |
| Companies linked by participating interests | 282/3 | - | €25,834,000 | +€25.8m | |
| Participating interests | 282 | - | €25,834,000 | +€25.8m | |
| Other financial fixed assets | 284/8 | €16,667,000 | - | -€16.7m | |
| Shares | 284 | €16,667,000 | - | -€16.7m | |
| Current assets | 29/58 | €3,366,645 | €3,760,461 | +€393,816 | +11.7% |
| Amounts receivable within one year | 40/41 | €2,679,624 | €3,300,071 | +€620,447 | +23.2% |
| Trade receivables | 40 | €344,231 | €1,899,911 | +€1.6m | +452% |
| Other amounts receivable | 41 | €2,335,393 | €1,400,160 | -€935,232 | -40.0% |
| Cash at bank and in hand | 54/58 | €484,067 | €402,807 | -€81,260 | -16.8% |
| Deferred charges and accrued income | 490/1 | €202,954 | €57,583 | -€145,372 | -71.6% |
| Total equity and liabilities | 10/49 | €374,383,906 | €378,244,722 | +€3.9m | +1.0% |
| Equity | 10/15 | €253,180,479 | €272,466,616 | +€19.3m | +7.6% |
| Contributions | 10/11 | €83,246,578 | €72,938,820 | -€10.3m | -12.4% |
| Capital | 10 | €83,246,578 | €72,938,820 | -€10.3m | -12.4% |
| Issued capital | 100 | €83,246,578 | €72,938,820 | -€10.3m | -12.4% |
| Reserves | 13 | €8,324,658 | €9,004,706 | +€680,048 | +8.2% |
| Non-distributable reserves | 130/1 | €8,324,658 | €9,004,706 | +€680,048 | +8.2% |
| Legal reserve | 130 | €8,324,658 | €9,004,706 | +€680,048 | +8.2% |
| Profit (loss) carried forward | 14 | €161,609,243 | €190,523,089 | +€28.9m | +17.9% |
| Amounts payable | 17/49 | €121,203,428 | €105,778,106 | -€15.4m | -12.7% |
| Amounts payable after more than one year | 17 | €65,833,333 | €45,416,667 | -€20.4m | -31.0% |
| Financial debts | 170/4 | €65,833,333 | €45,416,667 | -€20.4m | -31.0% |
| Subordinated loans | 170 | €25,833,333 | €15,416,667 | -€10.4m | -40.3% |
| Credit institutions | 173 | €40,000,000 | €30,000,000 | -€10.0m | -25.0% |
| Amounts payable within one year | 42/48 | €55,336,139 | €59,962,478 | +€4.6m | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €22,083,333 | €20,000,000 | -€2.1m | -9.4% |
| Financial debts | 43 | - | €1,400,000 | +€1.4m | |
| Credit institutions | 430/8 | - | €1,400,000 | +€1.4m | |
| Trade debts | 44 | €2,687,899 | €2,641,319 | -€46,580 | -1.7% |
| Suppliers | 440/4 | €2,687,899 | €2,641,319 | -€46,580 | -1.7% |
| Taxes, remuneration and social security | 45 | €213,477 | €147,637 | -€65,839 | -30.8% |
| Taxes | 450/3 | €101,181 | €28,740 | -€72,441 | -71.6% |
| Remuneration and social security | 454/9 | €112,296 | €118,897 | +€6,601 | +5.9% |
| Other amounts payable | 47/48 | €30,351,430 | €35,773,522 | +€5.4m | +17.9% |
| Accrued charges and deferred income | 492/3 | €33,956 | €398,962 | +€365,006 | +1,075% |
| Operating income | 70/76A | €5,365,942 | €7,253,310 | +€1.9m | +35.2% |
| Turnover | 70 | €5,336,315 | €7,240,116 | +€1.9m | +35.7% |
| Other operating income | 74 | €29,627 | €13,194 | -€16,432 | -55.5% |
| Operating charges | 60/66A | €5,582,774 | €7,895,745 | +€2.3m | +41.4% |
| Services and other goods | 61 | €5,073,626 | €7,374,662 | +€2.3m | +45.4% |
| Remuneration, social security and pensions | 62 | €508,119 | €520,023 | +€11,904 | +2.3% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Operating profit (loss) | 9901 | -€216,832 | -€642,436 | -€425,603 | -196% |
| Financial income | 75/76B | €53,220,411 | €25,569,788 | -€27.7m | -52.0% |
| Recurring financial income | 75 | €53,220,411 | €25,569,788 | -€27.7m | -52.0% |
| Income from financial fixed assets | 750 | €52,092,000 | €25,525,649 | -€26.6m | -51.0% |
| Income from current assets | 751 | €1,128,411 | €44,138 | -€1.1m | -96.1% |
| Other financial income | 752/9 | - | €1 | +€1 | |
| Financial charges | 65/66B | €5,287,223 | €5,390,365 | +€103,142 | +2.0% |
| Recurring financial charges | 65 | €5,287,223 | €5,390,365 | +€103,142 | +2.0% |
| Debt charges | 650 | €5,278,634 | €5,382,224 | +€103,591 | +2.0% |
| Other financial charges | 652/9 | €8,589 | €8,140 | -€449 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €47,716,356 | €19,536,988 | -€28.2m | -59.1% |
| Income taxes | 67/77 | €952 | €851 | -€101 | -10.6% |
| Taxes | 670/3 | €952 | €851 | -€101 | -10.6% |
| Profit (loss) for the period | 9904 | €47,715,404 | €19,536,137 | -€28.2m | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,715,404 | €19,536,137 | -€28.2m | -59.1% |
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.