CENDO: 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.
CENDO
Largest movements
- Cash +€3,744
up €3,744 (+91.7%), from €4,084 to €7,828
mainly Net result for the year (+€3,750) and Tax, wage and social debts (+€2,114)
- Tangible fixed assets +€3,048
new in 2025: €3,048
- Deferred charges and accrued income -€1,124
down €1,124 (-17.7%), from €6,335 to €5,211
- Profit (loss) carried forward +€2,917
up €2,917, from €0 to €2,917
- Tax, wage and social debts +€2,114
up €2,114 (+533%), from €396 to €2,511
- Other debts +€516
up €516 (+11.8%), from €4,357 to €4,873
- Gross operating margin +€6,337
up €6,337 (+222%), from €2,855 to €9,192
- Taxes +€2,117
up €2,117 (+534%), from €397 to €2,514
- Financial charges +€1,755
up €1,755 (+1,915%), from €92 to €1,846
- Depreciation -€1,367
down €1,367 (-72.3%), from €1,891 to €524
- Other operating charges +€569
new in 2025: €569
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 | €10,420 | €16,087 | +€5,667 | +54.4% |
| Fixed assets | 21/28 | - | €3,048 | +€3,048 | |
| Tangible fixed assets | 22/27 | - | €3,048 | +€3,048 | |
| Plant, machinery and equipment | 23 | - | €3,048 | +€3,048 | |
| Current assets | 29/58 | €10,420 | €13,039 | +€2,620 | +25.1% |
| Cash at bank and in hand | 54/58 | €4,084 | €7,828 | +€3,744 | +91.7% |
| Deferred charges and accrued income | 490/1 | €6,335 | €5,211 | -€1,124 | -17.7% |
| Total equity and liabilities | 10/49 | €10,420 | €16,087 | +€5,667 | +54.4% |
| Equity | 10/15 | €1,000 | €3,917 | +€2,917 | +292% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €2,917 | +€2,917 | |
| Amounts payable | 17/49 | €9,420 | €12,171 | +€2,751 | +29.2% |
| Amounts payable within one year | 42/48 | €9,420 | €12,171 | +€2,751 | +29.2% |
| Financial debts | 43 | €4,666 | €4,666 | = | 0.0% |
| Other loans | 439 | €4,666 | €4,666 | = | 0.0% |
| Trade debts | 44 | - | €121 | +€121 | |
| Suppliers | 440/4 | - | €121 | +€121 | |
| Taxes, remuneration and social security | 45 | €396 | €2,511 | +€2,114 | +533% |
| Taxes | 450/3 | €396 | €2,511 | +€2,114 | +533% |
| Other amounts payable | 47/48 | €4,357 | €4,873 | +€516 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,891 | €524 | -€1,367 | -72.3% |
| Other operating charges | 640/8 | - | €569 | +€569 | |
| Gross operating margin | 9900 | €2,855 | €9,192 | +€6,337 | +222% |
| Operating profit (loss) | 9901 | €964 | €8,099 | +€7,135 | +740% |
| Financial income | 75/76B | €1 | €10 | +€10 | +1,748% |
| Recurring financial income | 75 | €1 | €10 | +€10 | +1,748% |
| Financial charges | 65/66B | €92 | €1,846 | +€1,755 | +1,915% |
| Recurring financial charges | 65 | €92 | €1,846 | +€1,755 | +1,915% |
| Profit (loss) for the period before taxes | 9903 | €873 | €6,263 | +€5,391 | +618% |
| Income taxes | 67/77 | €397 | €2,514 | +€2,117 | +534% |
| Profit (loss) for the period | 9904 | €476 | €3,750 | +€3,274 | +688% |
| Profit (loss) for the period to be appropriated | 9905 | €476 | €3,750 | +€3,274 | +688% |
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 13 October 2026 via checked.be.