CEGESPRO: 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.
CEGESPRO
Largest movements
- Financial fixed assets +€175,880
up €175,880 (+29.4%), from €599,120 to €775,000
- Current investments -€130,687
down €130,687 (-100.0%), from €130,687 to €0
- Cash -€34,224
down €34,224 (-33.4%), from €102,575 to €68,351
mainly Investment in fixed assets (net) (-€187,988) and Deferred charges and accrued income (-€31,266)
- Deferred charges and accrued income +€31,266
up €31,266 (+146.5%), from €21,337 to €52,603
- Receivables within one year -€10,842
down €10,842 (-63.9%), from €16,966 to €6,124
of which Trade receivables: -€16,966
- Profit (loss) carried forward +€45,634
up €45,634 (+15.2%), from €299,793 to €345,427
- Trade debts -€15,144
down €15,144 (-45.7%), from €33,115 to €17,971
- Gross operating margin -€19,786
down €19,786 (-17.2%), from €115,076 to €95,290
- Taxes -€5,716
down €5,716 (-27.3%), from €20,928 to €15,211
- Depreciation +€2,496
up €2,496 (+35.1%), from €7,102 to €9,598
- Financial income -€2,168
down €2,168 (-57.5%), from €3,771 to €1,602
- Other operating charges -€1,503
down €1,503 (-7.8%), from €19,247 to €17,743
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €964,223 | €998,126 | +€33,903 | +3.5% |
| Fixed assets | 21/28 | €692,659 | €871,049 | +€178,390 | +25.8% |
| Intangible fixed assets | 21 | €50,000 | €50,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €43,539 | €46,049 | +€2,510 | +5.8% |
| Land and buildings | 22 | €10,170 | €6,319 | -€3,851 | -37.9% |
| Plant, machinery and equipment | 23 | €33,369 | €39,730 | +€6,361 | +19.1% |
| Financial fixed assets | 28 | €599,120 | €775,000 | +€175,880 | +29.4% |
| Current assets | 29/58 | €271,565 | €127,077 | -€144,487 | -53.2% |
| Amounts receivable within one year | 40/41 | €16,966 | €6,124 | -€10,842 | -63.9% |
| Trade receivables | 40 | €16,966 | €0 | -€16,966 | -100.0% |
| Other amounts receivable | 41 | - | €6,124 | +€6,124 | |
| Current investments | 50/53 | €130,687 | €0 | -€130,687 | -100.0% |
| Cash at bank and in hand | 54/58 | €102,575 | €68,351 | -€34,224 | -33.4% |
| Deferred charges and accrued income | 490/1 | €21,337 | €52,603 | +€31,266 | +146.5% |
| Total equity and liabilities | 10/49 | €964,223 | €998,126 | +€33,903 | +3.5% |
| Equity | 10/15 | €422,501 | €468,135 | +€45,634 | +10.8% |
| Contributions | 10/11 | €111,552 | €111,552 | = | 0.0% |
| Capital | 10 | €111,552 | €111,552 | = | 0.0% |
| Issued capital | 100 | €111,552 | €111,552 | = | 0.0% |
| Reserves | 13 | €11,155 | €11,155 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,155 | €11,155 | = | 0.0% |
| Legal reserve | 130 | €11,155 | €11,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | €299,793 | €345,427 | +€45,634 | +15.2% |
| Amounts payable | 17/49 | €541,723 | €529,992 | -€11,731 | -2.2% |
| Amounts payable after more than one year | 17 | €300,000 | €300,000 | = | 0.0% |
| Other amounts payable | 178/9 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €169,081 | €148,408 | -€20,673 | -12.2% |
| Financial debts | 43 | €130,000 | €130,000 | = | 0.0% |
| Other loans | 439 | €130,000 | €130,000 | = | 0.0% |
| Trade debts | 44 | €33,115 | €17,971 | -€15,144 | -45.7% |
| Suppliers | 440/4 | €33,115 | €17,971 | -€15,144 | -45.7% |
| Taxes, remuneration and social security | 45 | €5,746 | €0 | -€5,746 | -100.0% |
| Taxes | 450/3 | €5,746 | €0 | -€5,746 | -100.0% |
| Other amounts payable | 47/48 | €220 | €437 | +€217 | +98.6% |
| Accrued charges and deferred income | 492/3 | €72,642 | €81,584 | +€8,942 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,102 | €9,598 | +€2,496 | +35.1% |
| Other operating charges | 640/8 | €19,247 | €17,743 | -€1,503 | -7.8% |
| Gross operating margin | 9900 | €115,076 | €95,290 | -€19,786 | -17.2% |
| Operating profit (loss) | 9901 | €88,728 | €67,949 | -€20,779 | -23.4% |
| Financial income | 75/76B | €3,771 | €1,602 | -€2,168 | -57.5% |
| Recurring financial income | 75 | €3,771 | €1,602 | -€2,168 | -57.5% |
| Financial charges | 65/66B | €8,724 | €8,706 | -€19 | -0.2% |
| Recurring financial charges | 65 | €8,724 | €8,706 | -€19 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €83,774 | €60,845 | -€22,928 | -27.4% |
| Income taxes | 67/77 | €20,928 | €15,211 | -€5,716 | -27.3% |
| Profit (loss) for the period | 9904 | €62,846 | €45,634 | -€17,212 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,846 | €45,634 | -€17,212 | -27.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.