CEH O: 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.
CEH O
Largest movements
- Tangible fixed assets -€12,053
down €12,053 (-3.4%), from €358,154 to €346,101
of which Land and buildings: -€11,978
- Cash -€10,175
down €10,175 (-7.4%), from €138,182 to €128,007
mainly Net result for the year (-€27,334) and Investment in fixed assets (net) (-€6,824)
- Profit (loss) carried forward -€23,315
down €23,315 (-31.4%), from €74,292 to €50,977
- Debts after one year +€8,167
up €8,167 (+7.0%), from €116,671 to €124,838
- Gross operating margin -€90,365
down €90,365 (-88.4%), from €102,187 to €11,822
- Other operating charges -€2,299
down €2,299 (-13.9%), from €16,504 to €14,205
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 | €501,430 | €480,654 | -€20,776 | -4.1% |
| Fixed assets | 21/28 | €358,154 | €346,101 | -€12,053 | -3.4% |
| Tangible fixed assets | 22/27 | €358,154 | €346,101 | -€12,053 | -3.4% |
| Land and buildings | 22 | €358,004 | €346,026 | -€11,978 | -3.3% |
| Furniture and vehicles | 24 | €150 | €75 | -€75 | -50.0% |
| Current assets | 29/58 | €143,276 | €134,553 | -€8,723 | -6.1% |
| Amounts receivable within one year | 40/41 | €136 | €374 | +€239 | +176.3% |
| Other amounts receivable | 41 | €136 | €374 | +€239 | +176.3% |
| Cash at bank and in hand | 54/58 | €138,182 | €128,007 | -€10,175 | -7.4% |
| Deferred charges and accrued income | 490/1 | €4,958 | €6,172 | +€1,214 | +24.5% |
| Total equity and liabilities | 10/49 | €501,430 | €480,654 | -€20,776 | -4.1% |
| Equity | 10/15 | €322,751 | €295,417 | -€27,334 | -8.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €186,959 | €182,940 | -€4,019 | -2.1% |
| Tax-exempt reserves | 132 | €162,169 | €158,151 | -€4,019 | -2.5% |
| Distributable reserves | 133 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,292 | €50,977 | -€23,315 | -31.4% |
| Provisions and deferred taxes | 16 | €53,856 | €52,517 | -€1,340 | -2.5% |
| Deferred taxes | 168 | €53,856 | €52,517 | -€1,340 | -2.5% |
| Amounts payable | 17/49 | €124,823 | €132,721 | +€7,898 | +6.3% |
| Amounts payable after more than one year | 17 | €116,671 | €124,838 | +€8,167 | +7.0% |
| Financial debts | 170/4 | €116,671 | €124,838 | +€8,167 | +7.0% |
| Amounts payable within one year | 42/48 | €8,152 | €7,882 | -€269 | -3.3% |
| Trade debts | 44 | €3,270 | €1,701 | -€1,569 | -48.0% |
| Suppliers | 440/4 | €3,270 | €1,701 | -€1,569 | -48.0% |
| Other amounts payable | 47/48 | €4,881 | €6,181 | +€1,300 | +26.6% |
| Non-recurring operating income | 76A | €94,487 | - | -€94,487 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,539 | €18,878 | +€339 | +1.8% |
| Other operating charges | 640/8 | €16,504 | €14,205 | -€2,299 | -13.9% |
| Gross operating margin | 9900 | €102,187 | €11,822 | -€90,365 | -88.4% |
| Operating profit (loss) | 9901 | €67,144 | -€21,261 | -€88,405 | |
| Financial income | 75/76B | €202 | €796 | +€595 | +294.9% |
| Recurring financial income | 75 | €202 | €796 | +€595 | +294.9% |
| Financial charges | 65/66B | €7,727 | €8,209 | +€482 | +6.2% |
| Recurring financial charges | 65 | €7,727 | €8,209 | +€482 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €59,618 | -€28,674 | -€88,291 | |
| Transfer from deferred taxes | 780 | €1,340 | €1,340 | = | 0.0% |
| Transfer to deferred taxes | 680 | €18,779 | - | -€18,779 | |
| Income taxes | 67/77 | €2 | - | -€2 | |
| Profit (loss) for the period | 9904 | €42,176 | -€27,334 | -€69,510 | |
| Transfer from tax-exempt reserves | 789 | €4,019 | €4,019 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €56,338 | - | -€56,338 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,143 | -€23,315 | -€13,172 | -129.9% |
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 9 October 2026 via checked.be.