CÉLINE CERCKEL MD: 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.
CÉLINE CERCKEL MD
Largest movements
- Cash +€57,873
up €57,873 (+33.5%), from €172,847 to €230,720
mainly Net result for the year (+€127,091) and Depreciation (+€12,234)
- Current investments +€49,999
new in 2025: €49,999
- Deferred charges and accrued income +€31,495
up €31,495 (+48.2%), from €65,342 to €96,838
- Tangible fixed assets -€10,985
down €10,985 (-24.0%), from €45,853 to €34,868
- Profit (loss) carried forward +€127,091
new in 2025: €127,091
- Tax, wage and social debts +€7,257
up €7,257 (+13.5%), from €53,916 to €61,172
of which Taxes: +€7,257
- Debts after one year -€6,250
down €6,250 (-35.2%), from €17,770 to €11,520
- Other debts -€5,561
down €5,561 (-35.0%), from €15,896 to €10,335
- Gross operating margin +€61,467
up €61,467 (+54.1%), from €113,541 to €175,008
- Taxes +€16,793
up €16,793 (+79.8%), from €21,055 to €37,848
- Financial income +€2,809
up €2,809 (+451%), from €624 to €3,433
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 | €284,043 | €412,425 | +€128,382 | +45.2% |
| Fixed assets | 21/28 | €45,853 | €34,868 | -€10,985 | -24.0% |
| Tangible fixed assets | 22/27 | €45,853 | €34,868 | -€10,985 | -24.0% |
| Furniture and vehicles | 24 | €45,853 | €34,868 | -€10,985 | -24.0% |
| Current assets | 29/58 | €238,190 | €377,557 | +€139,367 | +58.5% |
| Current investments | 50/53 | - | €49,999 | +€49,999 | |
| Cash at bank and in hand | 54/58 | €172,847 | €230,720 | +€57,873 | +33.5% |
| Deferred charges and accrued income | 490/1 | €65,342 | €96,838 | +€31,495 | +48.2% |
| Total equity and liabilities | 10/49 | €284,043 | €412,425 | +€128,382 | +45.2% |
| Equity | 10/15 | €189,517 | €316,608 | +€127,091 | +67.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €186,517 | €186,517 | = | 0.0% |
| Distributable reserves | 133 | €186,517 | €186,517 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €127,091 | +€127,091 | |
| Amounts payable | 17/49 | €94,526 | €95,817 | +€1,291 | +1.4% |
| Amounts payable after more than one year | 17 | €17,770 | €11,520 | -€6,250 | -35.2% |
| Financial debts | 170/4 | €17,770 | €11,520 | -€6,250 | -35.2% |
| Amounts payable within one year | 42/48 | €76,756 | €82,796 | +€6,041 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €5,790 | €6,260 | +€470 | +8.1% |
| Trade debts | 44 | €1,154 | €5,029 | +€3,875 | +336% |
| Suppliers | 440/4 | €1,154 | €5,029 | +€3,875 | +336% |
| Taxes, remuneration and social security | 45 | €53,916 | €61,172 | +€7,257 | +13.5% |
| Taxes | 450/3 | €51,916 | €59,172 | +€7,257 | +14.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €15,896 | €10,335 | -€5,561 | -35.0% |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | - | €18 | +€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,199 | €12,234 | +€35 | +0.3% |
| Other operating charges | 640/8 | €141 | €140 | -€1 | -0.7% |
| Gross operating margin | 9900 | €113,541 | €175,008 | +€61,467 | +54.1% |
| Operating profit (loss) | 9901 | €101,201 | €162,616 | +€61,415 | +60.7% |
| Financial income | 75/76B | €624 | €3,433 | +€2,809 | +451% |
| Recurring financial income | 75 | €624 | €3,433 | +€2,809 | +451% |
| Financial charges | 65/66B | €1,300 | €1,110 | -€190 | -14.6% |
| Recurring financial charges | 65 | €1,300 | €1,110 | -€190 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €100,524 | €164,939 | +€64,415 | +64.1% |
| Income taxes | 67/77 | €21,055 | €37,848 | +€16,793 | +79.8% |
| Profit (loss) for the period | 9904 | €79,470 | €127,091 | +€47,622 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €79,470 | €127,091 | +€47,622 | +59.9% |
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 30 October 2026 via checked.be.