Cenec Vastgoed: 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.
Cenec Vastgoed
Largest movements
- Tangible fixed assets -€249,917
down €249,917 (-88.1%), from €283,535 to €33,618
- Cash +€26,245
up €26,245 (+9,075%), from €289 to €26,534
- Receivables within one year +€14,355
up €14,355, from €0 to €14,355
of which Other amounts receivable: +€12,619
- Debts after one year -€245,535
down €245,535 (-100%), from €245,535 to €0
- Reserves +€35,725
new in 2025: €35,725
- Current portion of long-term debt -€9,683
down €9,683 (-100%), from €9,683 to €0
- Profit (loss) carried forward +€4,316
up €4,316, from -€4,316 to €0
- Gross operating margin +€29,838
up €29,838 (+109%), from €27,441 to €57,280
- Taxes +€15,774
new in 2025: €15,774
- Depreciation -€14,006
down €14,006 (-98.0%), from €14,288 to €282
- Financial income +€5,833
new in 2025: €5,833
- Financial charges +€1,775
up €1,775 (+49.0%), from €3,626 to €5,401
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €286,103 | €74,590 | -€211,513 | -73.9% |
| Fixed assets | 21/28 | €283,535 | €33,618 | -€249,917 | -88.1% |
| Tangible fixed assets | 22/27 | €283,535 | €33,618 | -€249,917 | -88.1% |
| Land and buildings | 22 | €283,535 | €33,618 | -€249,917 | -88.1% |
| Current assets | 29/58 | €2,567 | €40,972 | +€38,404 | +1,496% |
| Amounts receivable within one year | 40/41 | €0 | €14,355 | +€14,355 | |
| Trade receivables | 40 | €0 | €1,736 | +€1,736 | |
| Other amounts receivable | 41 | - | €12,619 | +€12,619 | |
| Cash at bank and in hand | 54/58 | €289 | €26,534 | +€26,245 | +9,075% |
| Deferred charges and accrued income | 490/1 | €2,278 | €82 | -€2,196 | -96.4% |
| Total equity and liabilities | 10/49 | €286,103 | €74,590 | -€211,513 | -73.9% |
| Equity | 10/15 | €30,684 | €70,725 | +€40,041 | +130% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | - | €35,725 | +€35,725 | |
| Distributable reserves | 133 | - | €35,725 | +€35,725 | |
| Profit (loss) carried forward | 14 | -€4,316 | €0 | +€4,316 | |
| Amounts payable | 17/49 | €255,419 | €3,865 | -€251,554 | -98.5% |
| Amounts payable after more than one year | 17 | €245,535 | €0 | -€245,535 | -100% |
| Financial debts | 170/4 | €245,535 | €0 | -€245,535 | -100% |
| Amounts payable within one year | 42/48 | €9,884 | €3,865 | -€6,019 | -60.9% |
| Current portion of amounts payable after more than one year | 42 | €9,683 | €0 | -€9,683 | -100% |
| Trade debts | 44 | €201 | €1,838 | +€1,637 | +815% |
| Suppliers | 440/4 | €201 | €1,838 | +€1,637 | +815% |
| Taxes, remuneration and social security | 45 | - | €2,027 | +€2,027 | |
| Taxes | 450/3 | - | €2,027 | +€2,027 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €39,108 | +€39,108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,288 | €282 | -€14,006 | -98.0% |
| Other operating charges | 640/8 | €1,297 | €1,615 | +€318 | +24.5% |
| Gross operating margin | 9900 | €27,441 | €57,280 | +€29,838 | +109% |
| Operating profit (loss) | 9901 | €11,856 | €55,383 | +€43,527 | +367% |
| Financial income | 75/76B | - | €5,833 | +€5,833 | |
| Recurring financial income | 75 | - | €5,833 | +€5,833 | |
| Financial charges | 65/66B | €3,626 | €5,401 | +€1,775 | +49.0% |
| Recurring financial charges | 65 | €3,626 | €5,401 | +€1,775 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | €8,230 | €55,815 | +€47,584 | +578% |
| Income taxes | 67/77 | - | €15,774 | +€15,774 | |
| Profit (loss) for the period | 9904 | €8,230 | €40,041 | +€31,811 | +387% |
| Profit (loss) for the period to be appropriated | 9905 | €8,230 | €40,041 | +€31,811 | +387% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.