CENCOR: 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.
CENCOR
Largest movements
- Cash -€20,775
down €20,775 (-57.7%), from €35,984 to €15,210
mainly Net result for the year (-€11,731) and Other debts (-€4,148)
- Receivables within one year +€1,718
up €1,718 (+40.7%), from €4,218 to €5,936
of which Other amounts receivable: +€5,496
- Tangible fixed assets -€841
down €841 (-65.1%), from €1,291 to €450
- Deferred charges and accrued income -€622
no longer reported in 2025 (was €622)
- Reserves -€9,866
no longer reported in 2025 (was €9,866)
- Other debts -€4,148
down €4,148 (-55.4%), from €7,486 to €3,338
- Tax, wage and social debts -€3,573
no longer reported in 2025 (was €3,573)
- Current portion of long-term debt -€2,041
no longer reported in 2025 (was €2,041)
- Profit (loss) carried forward -€1,865
down €1,865, from €901 to -€964
- Gross operating margin -€25,715
down €25,715, from €15,110 to -€10,606
- Taxes -€5,965
down €5,965, from €4,765 to -€1,200
- Depreciation -€1,304
down €1,304 (-60.8%), from €2,145 to €841
- Other operating charges +€529
up €529 (+71.5%), from €739 to €1,268
- Financial charges -€192
down €192 (-31.7%), from €604 to €413
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 | €42,876 | €22,356 | -€20,520 | -47.9% |
| Fixed assets | 21/28 | €2,051 | €1,210 | -€841 | -41.0% |
| Tangible fixed assets | 22/27 | €1,291 | €450 | -€841 | -65.1% |
| Plant, machinery and equipment | 23 | €1,291 | €450 | -€841 | -65.1% |
| Financial fixed assets | 28 | €760 | €760 | = | 0.0% |
| Current assets | 29/58 | €40,825 | €21,145 | -€19,679 | -48.2% |
| Amounts receivable within one year | 40/41 | €4,218 | €5,936 | +€1,718 | +40.7% |
| Trade receivables | 40 | €3,868 | €90 | -€3,779 | -97.7% |
| Other amounts receivable | 41 | €350 | €5,846 | +€5,496 | +1570.6% |
| Cash at bank and in hand | 54/58 | €35,984 | €15,210 | -€20,775 | -57.7% |
| Deferred charges and accrued income | 490/1 | €622 | - | -€622 | |
| Total equity and liabilities | 10/49 | €42,876 | €22,356 | -€20,520 | -47.9% |
| Equity | 10/15 | €29,360 | €17,628 | -€11,731 | -40.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,866 | - | -€9,866 | |
| Distributable reserves | 133 | €9,866 | - | -€9,866 | |
| Profit (loss) carried forward | 14 | €901 | -€964 | -€1,865 | |
| Amounts payable | 17/49 | €13,516 | €4,727 | -€8,789 | -65.0% |
| Amounts payable within one year | 42/48 | €13,516 | €4,727 | -€8,789 | -65.0% |
| Current portion of amounts payable after more than one year | 42 | €2,041 | - | -€2,041 | |
| Trade debts | 44 | €417 | €1,389 | +€973 | +233.6% |
| Suppliers | 440/4 | €417 | €1,389 | +€973 | +233.6% |
| Taxes, remuneration and social security | 45 | €3,573 | - | -€3,573 | |
| Taxes | 450/3 | €3,573 | - | -€3,573 | |
| Other amounts payable | 47/48 | €7,486 | €3,338 | -€4,148 | -55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,145 | €841 | -€1,304 | -60.8% |
| Other operating charges | 640/8 | €739 | €1,268 | +€529 | +71.5% |
| Gross operating margin | 9900 | €15,110 | -€10,606 | -€25,715 | |
| Operating profit (loss) | 9901 | €12,225 | -€12,715 | -€24,940 | |
| Financial income | 75/76B | €51 | €196 | +€145 | +281.8% |
| Recurring financial income | 75 | €51 | €196 | +€145 | +281.8% |
| Financial charges | 65/66B | €604 | €413 | -€192 | -31.7% |
| Recurring financial charges | 65 | €604 | €413 | -€192 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €11,672 | -€12,931 | -€24,604 | |
| Income taxes | 67/77 | €4,765 | -€1,200 | -€5,965 | |
| Profit (loss) for the period | 9904 | €6,908 | -€11,731 | -€18,639 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,908 | -€11,731 | -€18,639 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.