Cekoja Partners: 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.
Cekoja Partners
Largest movements
- Tangible fixed assets -€12,400
down €12,400 (-27.8%), from €44,626 to €32,226
- Cash +€9,986
up €9,986 (+703%), from €1,421 to €11,407
mainly Other debts (+€43,324) and Trade debts (+€28,947)
- Receivables within one year -€2,375
down €2,375 (-5.2%), from €45,963 to €43,588
of which Trade receivables: -€8,113
- Profit (loss) carried forward -€63,471
down €63,471 (-55.6%), from -€114,118 to -€177,589
- Other debts +€43,324
up €43,324 (+69.0%), from €62,779 to €106,103
- Tax, wage and social debts -€29,756
down €29,756 (-98.7%), from €30,141 to €386
- Trade debts +€28,947
up €28,947 (+187%), from €15,519 to €44,466
- Accrued charges and deferred income +€16,020
new in 2025: €16,020
- Write-downs -€108,472
no longer reported in 2025 (was €108,472)
- Gross operating margin -€52,931
down €52,931, from €6,183 to -€46,748
- Other operating charges +€2,995
up €2,995 (+2,995%), from €100 to €3,095
- Depreciation +€998
up €998 (+8.8%), from €11,402 to €12,400
- Financial charges +€515
up €515 (+157%), from €327 to €842
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 | €138,498 | €133,711 | -€4,787 | -3.5% |
| Fixed assets | 21/28 | €82,114 | €69,714 | -€12,400 | -15.1% |
| Tangible fixed assets | 22/27 | €44,626 | €32,226 | -€12,400 | -27.8% |
| Furniture and vehicles | 24 | €44,626 | €32,226 | -€12,400 | -27.8% |
| Financial fixed assets | 28 | €37,488 | €37,488 | = | 0.0% |
| Current assets | 29/58 | €56,384 | €63,997 | +€7,613 | +13.5% |
| Amounts receivable after more than one year | 29 | €9,000 | €9,000 | = | 0.0% |
| Trade receivables | 290 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45,963 | €43,588 | -€2,375 | -5.2% |
| Trade receivables | 40 | €45,961 | €37,847 | -€8,113 | -17.7% |
| Other amounts receivable | 41 | €3 | €5,741 | +€5,738 | +212,532% |
| Cash at bank and in hand | 54/58 | €1,421 | €11,407 | +€9,986 | +703% |
| Deferred charges and accrued income | 490/1 | - | €2 | +€2 | |
| Total equity and liabilities | 10/49 | €138,498 | €133,711 | -€4,787 | -3.5% |
| Equity | 10/15 | €30,059 | -€33,412 | -€63,471 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €141,177 | €141,177 | = | 0.0% |
| Distributable reserves | 133 | €141,177 | €141,177 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,118 | -€177,589 | -€63,471 | -55.6% |
| Amounts payable | 17/49 | €108,439 | €167,123 | +€58,684 | +54.1% |
| Amounts payable within one year | 42/48 | €108,439 | €151,103 | +€42,664 | +39.3% |
| Trade debts | 44 | €15,519 | €44,466 | +€28,947 | +187% |
| Suppliers | 440/4 | €15,519 | €44,466 | +€28,947 | +187% |
| Advances received on contracts in progress | 46 | - | €148 | +€148 | |
| Taxes, remuneration and social security | 45 | €30,141 | €386 | -€29,756 | -98.7% |
| Taxes | 450/3 | €30,141 | €386 | -€29,756 | -98.7% |
| Other amounts payable | 47/48 | €62,779 | €106,103 | +€43,324 | +69.0% |
| Accrued charges and deferred income | 492/3 | - | €16,020 | +€16,020 | |
| Non-recurring operating income | 76A | - | €18,637 | +€18,637 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,402 | €12,400 | +€998 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €108,472 | - | -€108,472 | |
| Other operating charges | 640/8 | €100 | €3,095 | +€2,995 | +2,995% |
| Gross operating margin | 9900 | €6,183 | -€46,748 | -€52,931 | |
| Operating profit (loss) | 9901 | -€113,791 | -€62,244 | +€51,547 | +45.3% |
| Financial income | 75/76B | €1 | €0 | -€1 | -97.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.6% |
| Financial charges | 65/66B | €327 | €842 | +€515 | +157% |
| Recurring financial charges | 65 | €327 | €842 | +€515 | +157% |
| Profit (loss) for the period before taxes | 9903 | -€114,118 | -€63,086 | +€51,032 | +44.7% |
| Income taxes | 67/77 | - | €386 | +€386 | |
| Profit (loss) for the period | 9904 | -€114,118 | -€63,471 | +€50,646 | +44.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€114,118 | -€63,471 | +€50,646 | +44.4% |
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 31 October 2026 via checked.be.