Cegil: 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.
Cegil
Largest movements
- Tangible fixed assets -€85,169
down €85,169 (-21.3%), from €400,552 to €315,383
of which Land and buildings: -€70,042
- Receivables within one year +€48,547
up €48,547 (+64.1%), from €75,680 to €124,227
of which Other amounts receivable: +€48,547
- Cash +€27,359
up €27,359 (+79.8%), from €34,268 to €61,627
mainly Depreciation (+€109,336) and Net result for the year (+€84,840)
- Stocks and contracts -€13,490
down €13,490 (-62.7%), from €21,531 to €8,042
- Debts after one year -€37,713
down €37,713 (-11.2%), from €335,426 to €297,713
- Other debts +€18,701
new in 2025: €18,701
- Trade debts -€8,269
down €8,269 (-22.5%), from €36,831 to €28,561
- Tax, wage and social debts +€8,250
up €8,250 (+54.7%), from €15,078 to €23,328
- Profit (loss) carried forward -€5,994
down €5,994 (-6.6%), from €90,834 to €84,840
- Gross operating margin +€57,621
up €57,621 (+33.1%), from €174,283 to €231,904
- Depreciation -€24,002
down €24,002 (-18.0%), from €133,338 to €109,336
- Taxes +€17,557
up €17,557 (+310.9%), from €5,648 to €23,205
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 | €538,045 | €512,383 | -€25,662 | -4.8% |
| Fixed assets | 21/28 | €400,552 | €315,383 | -€85,169 | -21.3% |
| Tangible fixed assets | 22/27 | €400,552 | €315,383 | -€85,169 | -21.3% |
| Land and buildings | 22 | €349,194 | €279,152 | -€70,042 | -20.1% |
| Plant, machinery and equipment | 23 | €19,291 | €11,098 | -€8,193 | -42.5% |
| Furniture and vehicles | 24 | €32,067 | €25,133 | -€6,934 | -21.6% |
| Current assets | 29/58 | €137,493 | €197,000 | +€59,508 | +43.3% |
| Stocks and contracts in progress | 3 | €21,531 | €8,042 | -€13,490 | -62.7% |
| Stocks | 30/36 | €21,531 | €8,042 | -€13,490 | -62.7% |
| Amounts receivable within one year | 40/41 | €75,680 | €124,227 | +€48,547 | +64.1% |
| Trade receivables | 40 | €3,000 | €3,000 | = | 0.0% |
| Other amounts receivable | 41 | €72,680 | €121,227 | +€48,547 | +66.8% |
| Cash at bank and in hand | 54/58 | €34,268 | €61,627 | +€27,359 | +79.8% |
| Deferred charges and accrued income | 490/1 | €6,014 | €3,104 | -€2,909 | -48.4% |
| Total equity and liabilities | 10/49 | €538,045 | €512,383 | -€25,662 | -4.8% |
| Equity | 10/15 | €111,294 | €105,300 | -€5,994 | -5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,834 | €84,840 | -€5,994 | -6.6% |
| Amounts payable | 17/49 | €426,750 | €407,083 | -€19,668 | -4.6% |
| Amounts payable after more than one year | 17 | €335,426 | €297,713 | -€37,713 | -11.2% |
| Financial debts | 170/4 | €335,426 | €297,713 | -€37,713 | -11.2% |
| Amounts payable within one year | 42/48 | €90,258 | €108,303 | +€18,044 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €38,350 | €37,713 | -€637 | -1.7% |
| Trade debts | 44 | €36,831 | €28,561 | -€8,269 | -22.5% |
| Suppliers | 440/4 | €36,831 | €28,561 | -€8,269 | -22.5% |
| Taxes, remuneration and social security | 45 | €15,078 | €23,328 | +€8,250 | +54.7% |
| Taxes | 450/3 | €15,078 | €23,328 | +€8,250 | +54.7% |
| Other amounts payable | 47/48 | - | €18,701 | +€18,701 | |
| Accrued charges and deferred income | 492/3 | €1,066 | €1,067 | +€1 | +0.1% |
| Non-recurring operating income | 76A | €1,546 | €4,217 | +€2,671 | +172.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,338 | €109,336 | -€24,002 | -18.0% |
| Other operating charges | 640/8 | €2,944 | €3,084 | +€141 | +4.8% |
| Non-recurring operating charges | 66A | €987 | - | -€987 | |
| Gross operating margin | 9900 | €174,283 | €231,904 | +€57,621 | +33.1% |
| Operating profit (loss) | 9901 | €37,014 | €119,484 | +€82,469 | +222.8% |
| Financial income | 75/76B | €123 | €0 | -€123 | -100.0% |
| Recurring financial income | 75 | €123 | €0 | -€123 | -100.0% |
| Financial charges | 65/66B | €12,593 | €11,439 | -€1,154 | -9.2% |
| Recurring financial charges | 65 | €12,593 | €11,439 | -€1,154 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €24,544 | €108,045 | +€83,501 | +340.2% |
| Income taxes | 67/77 | €5,648 | €23,205 | +€17,557 | +310.9% |
| Profit (loss) for the period | 9904 | €18,896 | €84,840 | +€65,944 | +349.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,896 | €84,840 | +€65,944 | +349.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.