CEGIBACO: 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.
CEGIBACO
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year +€16,555
up €16,555 (+93.4%), from €17,730 to €34,286
of which Trade receivables: +€16,520
- Cash +€15,983
up €15,983 (+16.4%), from €97,578 to €113,561
mainly Net result for the year (+€65,614) and Depreciation (+€13,359)
- Tangible fixed assets -€13,359
down €13,359 (-24.9%), from €53,717 to €40,358
- Reserves +€64,781
up €64,781 (+62.0%), from €104,428 to €169,210
- Tax, wage and social debts +€7,237
up €7,237 (+13.2%), from €54,948 to €62,185
of which Taxes: +€8,022
- Other debts -€2,386
down €2,386 (-63.3%), from €3,771 to €1,384
- Gross operating margin +€5,711
up €5,711 (+5.7%), from €100,591 to €106,302
- Taxes +€1,898
up €1,898 (+7.8%), from €24,300 to €26,198
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 | €169,594 | €238,386 | +€68,792 | +40.6% |
| Fixed assets | 21/28 | €53,717 | €40,358 | -€13,359 | -24.9% |
| Tangible fixed assets | 22/27 | €53,717 | €40,358 | -€13,359 | -24.9% |
| Furniture and vehicles | 24 | €53,717 | €40,358 | -€13,359 | -24.9% |
| Current assets | 29/58 | €115,878 | €198,028 | +€82,151 | +70.9% |
| Amounts receivable within one year | 40/41 | €17,730 | €34,286 | +€16,555 | +93.4% |
| Trade receivables | 40 | €17,727 | €34,247 | +€16,520 | +93.2% |
| Other amounts receivable | 41 | €4 | €38 | +€35 | +995% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €97,578 | €113,561 | +€15,983 | +16.4% |
| Deferred charges and accrued income | 490/1 | €570 | €182 | -€388 | -68.1% |
| Total equity and liabilities | 10/49 | €169,594 | €238,386 | +€68,792 | +40.6% |
| Equity | 10/15 | €106,928 | €171,710 | +€64,781 | +60.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €104,428 | €169,210 | +€64,781 | +62.0% |
| Distributable reserves | 133 | €104,428 | €169,210 | +€64,781 | +62.0% |
| Amounts payable | 17/49 | €62,666 | €66,676 | +€4,010 | +6.4% |
| Amounts payable within one year | 42/48 | €60,150 | €64,022 | +€3,873 | +6.4% |
| Trade debts | 44 | €1,431 | €453 | -€978 | -68.4% |
| Suppliers | 440/4 | €1,431 | €453 | -€978 | -68.4% |
| Taxes, remuneration and social security | 45 | €54,948 | €62,185 | +€7,237 | +13.2% |
| Taxes | 450/3 | €51,198 | €59,220 | +€8,022 | +15.7% |
| Remuneration and social security | 454/9 | €3,750 | €2,965 | -€785 | -20.9% |
| Other amounts payable | 47/48 | €3,771 | €1,384 | -€2,386 | -63.3% |
| Accrued charges and deferred income | 492/3 | €2,516 | €2,654 | +€138 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,832 | €13,359 | +€528 | +4.1% |
| Other operating charges | 640/8 | €520 | €1,208 | +€688 | +132% |
| Gross operating margin | 9900 | €100,591 | €106,302 | +€5,711 | +5.7% |
| Operating profit (loss) | 9901 | €87,239 | €91,734 | +€4,496 | +5.2% |
| Financial income | 75/76B | - | €236 | +€236 | |
| Recurring financial income | 75 | - | €236 | +€236 | |
| Financial charges | 65/66B | €202 | €159 | -€44 | -21.6% |
| Recurring financial charges | 65 | €202 | €159 | -€44 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €87,037 | €91,812 | +€4,775 | +5.5% |
| Income taxes | 67/77 | €24,300 | €26,198 | +€1,898 | +7.8% |
| Profit (loss) for the period | 9904 | €62,737 | €65,614 | +€2,878 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,737 | €65,614 | +€2,878 | +4.6% |
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 27 October 2026 via checked.be.