CEK: 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.
CEK
Largest movements
- Tangible fixed assets -€32,987
down €32,987 (-3.9%), from €853,959 to €820,972
of which Land and buildings: -€36,639
- Receivables within one year +€21,642
up €21,642 (+112.1%), from €19,312 to €40,954
of which Other amounts receivable: +€26,908
- Cash -€11,662
down €11,662 (-17.3%), from €67,456 to €55,794
mainly Debts after one year (-€43,971) and Trade debts (-€24,236)
- Other debts +€48,182
up €48,182 (+64.0%), from €75,269 to €123,451
- Debts after one year -€43,971
down €43,971 (-6.2%), from €705,027 to €661,056
of which Financial debts: -€43,971
- Trade debts -€24,236
down €24,236 (-52.1%), from €46,477 to €22,241
- Tax, wage and social debts -€14,856
down €14,856 (-52.1%), from €28,503 to €13,647
of which Remuneration and social security: -€11,273
- Gross operating margin -€61,156
down €61,156 (-39.2%), from €155,942 to €94,786
- Staff costs -€47,193
down €47,193 (-88.1%), from €53,587 to €6,394
- Financial charges +€8,907
up €8,907 (+49.3%), from €18,051 to €26,958
- Taxes -€3,795
down €3,795 (-83.0%), from €4,572 to €777
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 | €965,518 | €932,980 | -€32,538 | -3.4% |
| Fixed assets | 21/28 | €853,959 | €820,972 | -€32,987 | -3.9% |
| Tangible fixed assets | 22/27 | €853,959 | €820,972 | -€32,987 | -3.9% |
| Land and buildings | 22 | €845,476 | €808,837 | -€36,639 | -4.3% |
| Plant, machinery and equipment | 23 | €6,046 | €4,130 | -€1,916 | -31.7% |
| Furniture and vehicles | 24 | €2,437 | €8,005 | +€5,568 | +228.5% |
| Current assets | 29/58 | €111,559 | €112,008 | +€449 | +0.4% |
| Stocks and contracts in progress | 3 | €22,034 | €12,415 | -€9,619 | -43.7% |
| Stocks | 30/36 | €22,034 | €12,415 | -€9,619 | -43.7% |
| Amounts receivable within one year | 40/41 | €19,312 | €40,954 | +€21,642 | +112.1% |
| Trade receivables | 40 | €19,182 | €13,916 | -€5,266 | -27.5% |
| Other amounts receivable | 41 | €130 | €27,038 | +€26,908 | +20698.5% |
| Cash at bank and in hand | 54/58 | €67,456 | €55,794 | -€11,662 | -17.3% |
| Deferred charges and accrued income | 490/1 | €2,757 | €2,845 | +€88 | +3.2% |
| Total equity and liabilities | 10/49 | €965,518 | €932,980 | -€32,538 | -3.4% |
| Equity | 10/15 | €56,361 | €58,980 | +€2,619 | +4.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €6,361 | €8,980 | +€2,619 | +41.2% |
| Non-distributable reserves | 130/1 | €502 | €502 | = | 0.0% |
| Reserves not available under the articles | 1311 | €502 | €502 | = | 0.0% |
| Distributable reserves | 133 | €5,859 | €8,478 | +€2,619 | +44.7% |
| Amounts payable | 17/49 | €909,157 | €874,000 | -€35,157 | -3.9% |
| Amounts payable after more than one year | 17 | €705,027 | €661,056 | -€43,971 | -6.2% |
| Financial debts | 170/4 | €704,027 | €660,056 | -€43,971 | -6.2% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €202,223 | €212,944 | +€10,721 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €51,974 | €53,605 | +€1,631 | +3.1% |
| Trade debts | 44 | €46,477 | €22,241 | -€24,236 | -52.1% |
| Suppliers | 440/4 | €46,477 | €22,241 | -€24,236 | -52.1% |
| Taxes, remuneration and social security | 45 | €28,503 | €13,647 | -€14,856 | -52.1% |
| Taxes | 450/3 | €15,730 | €12,147 | -€3,583 | -22.8% |
| Remuneration and social security | 454/9 | €12,773 | €1,500 | -€11,273 | -88.3% |
| Other amounts payable | 47/48 | €75,269 | €123,451 | +€48,182 | +64.0% |
| Accrued charges and deferred income | 492/3 | €1,907 | - | -€1,907 | |
| Remuneration, social security and pensions | 62 | €53,587 | €6,394 | -€47,193 | -88.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,926 | €49,460 | +€534 | +1.1% |
| Other operating charges | 640/8 | €9,122 | €8,578 | -€544 | -6.0% |
| Gross operating margin | 9900 | €155,942 | €94,786 | -€61,156 | -39.2% |
| Operating profit (loss) | 9901 | €44,307 | €30,354 | -€13,953 | -31.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €18,051 | €26,958 | +€8,907 | +49.3% |
| Recurring financial charges | 65 | €18,051 | €26,958 | +€8,907 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €26,257 | €3,396 | -€22,861 | -87.1% |
| Income taxes | 67/77 | €4,572 | €777 | -€3,795 | -83.0% |
| Profit (loss) for the period | 9904 | €21,685 | €2,619 | -€19,066 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,685 | €2,619 | -€19,066 | -87.9% |
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 9 October 2026 via checked.be.