CEGESCO: 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.
CEGESCO
Largest movements
- Receivables within one year -€6,948
down €6,948 (-16.2%), from €42,917 to €35,969
of which Trade receivables: -€9,826
- Tangible fixed assets -€3,996
down €3,996 (-32.4%), from €12,327 to €8,331
- Cash -€825
down €825 (-37.4%), from €2,208 to €1,383
mainly Contributions, distributions and other (-€23,696) and Debts after one year (-€7,018)
- Debts after one year -€7,018
down €7,018 (-59.4%), from €11,825 to €4,807
- Tax, wage and social debts -€6,475
down €6,475 (-37.2%), from €17,386 to €10,911
of which Remuneration and social security: -€4,130
- Profit (loss) carried forward +€2,191
no longer reported in 2025 (was -€2,191)
- Trade debts -€597
down €597 (-9.8%), from €6,112 to €5,516
- Financial income +€50,625
new in 2025: €50,625
of which Non-recurring financial income: +€50,586
- Gross operating margin -€13,387
down €13,387 (-24.1%), from €55,519 to €42,132
- Taxes +€9,863
new in 2025: €9,863
- Staff costs -€4,677
down €4,677 (-8.3%), from €56,639 to €51,962
- Other operating charges -€788
down €788 (-66.3%), from €1,187 to €400
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 | €57,638 | €45,869 | -€11,769 | -20.4% |
| Fixed assets | 21/28 | €12,513 | €8,517 | -€3,996 | -31.9% |
| Tangible fixed assets | 22/27 | €12,327 | €8,331 | -€3,996 | -32.4% |
| Furniture and vehicles | 24 | €12,327 | €8,331 | -€3,996 | -32.4% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €45,125 | €37,352 | -€7,773 | -17.2% |
| Amounts receivable within one year | 40/41 | €42,917 | €35,969 | -€6,948 | -16.2% |
| Trade receivables | 40 | €42,917 | €33,090 | -€9,826 | -22.9% |
| Other amounts receivable | 41 | - | €2,879 | +€2,879 | |
| Cash at bank and in hand | 54/58 | €2,208 | €1,383 | -€825 | -37.4% |
| Total equity and liabilities | 10/49 | €57,638 | €45,869 | -€11,769 | -20.4% |
| Equity | 10/15 | €18,751 | €20,942 | +€2,191 | +11.7% |
| Contributions | 10/11 | €19,038 | €19,038 | = | 0.0% |
| Reserves | 13 | €1,904 | €1,904 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,904 | €1,904 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,904 | €1,904 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,191 | - | +€2,191 | |
| Amounts payable | 17/49 | €38,887 | €24,927 | -€13,960 | -35.9% |
| Amounts payable after more than one year | 17 | €11,825 | €4,807 | -€7,018 | -59.4% |
| Financial debts | 170/4 | €11,825 | €4,807 | -€7,018 | -59.4% |
| Amounts payable within one year | 42/48 | €27,062 | €20,120 | -€6,942 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €3,563 | €3,693 | +€130 | +3.6% |
| Trade debts | 44 | €6,112 | €5,516 | -€597 | -9.8% |
| Suppliers | 440/4 | €6,112 | €5,516 | -€597 | -9.8% |
| Taxes, remuneration and social security | 45 | €17,386 | €10,911 | -€6,475 | -37.2% |
| Taxes | 450/3 | €7,183 | €4,838 | -€2,345 | -32.7% |
| Remuneration and social security | 454/9 | €10,203 | €6,073 | -€4,130 | -40.5% |
| Remuneration, social security and pensions | 62 | €56,639 | €51,962 | -€4,677 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,996 | €3,996 | = | 0.0% |
| Other operating charges | 640/8 | €1,187 | €400 | -€788 | -66.3% |
| Gross operating margin | 9900 | €55,519 | €42,132 | -€13,387 | -24.1% |
| Operating profit (loss) | 9901 | -€6,304 | -€14,226 | -€7,922 | -126% |
| Financial income | 75/76B | - | €50,625 | +€50,625 | |
| Recurring financial income | 75 | - | €39 | +€39 | |
| Non-recurring financial income | 76B | - | €50,586 | +€50,586 | |
| Financial charges | 65/66B | €1,052 | €649 | -€403 | -38.3% |
| Recurring financial charges | 65 | €1,052 | €649 | -€403 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,356 | €35,750 | +€43,106 | |
| Income taxes | 67/77 | - | €9,863 | +€9,863 | |
| Profit (loss) for the period | 9904 | -€7,356 | €25,887 | +€33,243 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,356 | €25,887 | +€33,243 |
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 18 October 2026 via checked.be.