CENEF: 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.
CENEF
Largest movements
- Receivables within one year -€20,135
down €20,135 (-11.8%), from €170,535 to €150,400
- Other debts -€20,000
no longer reported in 2025 (was €20,000)
- Gross operating margin +€2,503
up €2,503 (+79.6%), from -€3,143 to -€640
- Financial income -€323
down €323 (-28.6%), from €1,128 to €805
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 | €175,276 | €154,445 | -€20,831 | -11.9% |
| Current assets | 29/58 | €175,276 | €154,445 | -€20,831 | -11.9% |
| Amounts receivable within one year | 40/41 | €170,535 | €150,400 | -€20,135 | -11.8% |
| Other amounts receivable | 41 | €170,535 | €150,400 | -€20,135 | -11.8% |
| Current investments | 50/53 | €3,542 | €3,542 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €680 | €503 | -€177 | -26.0% |
| Deferred charges and accrued income | 490/1 | €519 | - | -€519 | |
| Total equity and liabilities | 10/49 | €175,276 | €154,445 | -€20,831 | -11.9% |
| Equity | 10/15 | €155,276 | €154,445 | -€831 | -0.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,276 | €132,445 | -€831 | -0.6% |
| Amounts payable | 17/49 | €20,000 | - | -€20,000 | |
| Amounts payable within one year | 42/48 | €20,000 | - | -€20,000 | |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Gross operating margin | 9900 | -€3,143 | -€640 | +€2,503 | +79.6% |
| Operating profit (loss) | 9901 | -€4,104 | -€1,607 | +€2,496 | +60.8% |
| Financial income | 75/76B | €1,128 | €805 | -€323 | -28.6% |
| Recurring financial income | 75 | €1,128 | €805 | -€323 | -28.6% |
| Financial charges | 65/66B | €24 | €29 | +€5 | +18.8% |
| Recurring financial charges | 65 | €24 | €29 | +€5 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,999 | -€831 | +€2,169 | +72.3% |
| Profit (loss) for the period | 9904 | -€2,999 | -€831 | +€2,169 | +72.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,999 | -€831 | +€2,169 | +72.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.