CENISTE: 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.
CENISTE
Largest movements
- Tangible fixed assets +€118,656
up €118,656 (+10.0%), from €1.2m to €1.3m
of which Land and buildings: +€129,064
- Receivables after one year -€67,698
down €67,698 (-29.0%), from €233,069 to €165,371
- Cash +€42,161
up €42,161 (+32.5%), from €129,806 to €171,967
mainly Debts after one year (+€178,767) and Net result for the year (+€78,326)
- Debts after one year +€178,767
up €178,767 (+19.5%), from €917,197 to €1.1m
- Other debts -€125,664
down €125,664 (-43.0%), from €292,097 to €166,433
- Profit (loss) carried forward +€78,687
up €78,687 (+27.9%), from -€282,004 to -€203,318
- Advances received -€25,168
no longer reported in 2025 (was €25,168)
- Financial income +€138,175
up €138,175 (+2263.5%), from €6,104 to €144,279
- Gross operating margin -€75,702
down €75,702 (-47.2%), from €160,369 to €84,667
- Other operating charges +€20,617
up €20,617 (+128.5%), from €16,043 to €36,661
- Taxes -€9,124
down €9,124 (-98.3%), from €9,278 to €154
- Depreciation +€6,142
up €6,142 (+13.2%), from €46,381 to €52,524
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 | €2,373,364 | €2,496,704 | +€123,340 | +5.2% |
| Fixed assets | 21/28 | €1,982,592 | €2,098,791 | +€116,199 | +5.9% |
| Tangible fixed assets | 22/27 | €1,181,097 | €1,299,753 | +€118,656 | +10.0% |
| Land and buildings | 22 | €963,470 | €1,092,534 | +€129,064 | +13.4% |
| Plant, machinery and equipment | 23 | €5,029 | €15,580 | +€10,551 | +209.8% |
| Furniture and vehicles | 24 | €33,442 | €7,518 | -€25,925 | -77.5% |
| Other tangible fixed assets | 26 | €179,156 | €184,122 | +€4,966 | +2.8% |
| Financial fixed assets | 28 | €801,495 | €799,038 | -€2,457 | -0.3% |
| Current assets | 29/58 | €390,772 | €397,913 | +€7,141 | +1.8% |
| Amounts receivable after more than one year | 29 | €233,069 | €165,371 | -€67,698 | -29.0% |
| Other amounts receivable | 291 | €233,069 | €165,371 | -€67,698 | -29.0% |
| Amounts receivable within one year | 40/41 | €17,685 | €33,920 | +€16,236 | +91.8% |
| Trade receivables | 40 | €10,914 | €22,264 | +€11,350 | +104.0% |
| Other amounts receivable | 41 | €6,771 | €11,656 | +€4,885 | +72.2% |
| Cash at bank and in hand | 54/58 | €129,806 | €171,967 | +€42,161 | +32.5% |
| Deferred charges and accrued income | 490/1 | €10,212 | €26,655 | +€16,442 | +161.0% |
| Total equity and liabilities | 10/49 | €2,373,364 | €2,496,704 | +€123,340 | +5.2% |
| Equity | 10/15 | €1,073,012 | €1,151,337 | +€78,326 | +7.3% |
| Contributions | 10/11 | €1,299,394 | €1,299,394 | = | 0.0% |
| Reserves | 13 | €55,622 | €55,261 | -€361 | -0.6% |
| Tax-exempt reserves | 132 | €55,622 | €55,261 | -€361 | -0.6% |
| Profit (loss) carried forward | 14 | -€282,004 | -€203,318 | +€78,687 | +27.9% |
| Provisions and deferred taxes | 16 | €9,218 | €9,128 | -€90 | -1.0% |
| Deferred taxes | 168 | €9,218 | €9,128 | -€90 | -1.0% |
| Amounts payable | 17/49 | €1,291,134 | €1,336,239 | +€45,105 | +3.5% |
| Amounts payable after more than one year | 17 | €917,197 | €1,095,964 | +€178,767 | +19.5% |
| Financial debts | 170/4 | €917,197 | €1,095,964 | +€178,767 | +19.5% |
| Amounts payable within one year | 42/48 | €324,466 | €195,473 | -€128,993 | -39.8% |
| Trade debts | 44 | €1,718 | €1,001 | -€717 | -41.7% |
| Suppliers | 440/4 | €1,718 | €1,001 | -€717 | -41.7% |
| Advances received on contracts in progress | 46 | €25,168 | - | -€25,168 | |
| Taxes, remuneration and social security | 45 | €5,484 | €28,040 | +€22,556 | +411.4% |
| Taxes | 450/3 | €5,484 | €2,871 | -€2,612 | -47.6% |
| Remuneration and social security | 454/9 | - | €25,168 | +€25,168 | |
| Other amounts payable | 47/48 | €292,097 | €166,433 | -€125,664 | -43.0% |
| Accrued charges and deferred income | 492/3 | €49,471 | €44,801 | -€4,670 | -9.4% |
| Non-recurring operating income | 76A | €4,628 | - | -€4,628 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,381 | €52,524 | +€6,142 | +13.2% |
| Other operating charges | 640/8 | €16,043 | €36,661 | +€20,617 | +128.5% |
| Non-recurring operating charges | 66A | - | €5,545 | +€5,545 | |
| Gross operating margin | 9900 | €160,369 | €84,667 | -€75,702 | -47.2% |
| Operating profit (loss) | 9901 | €97,945 | -€10,062 | -€108,006 | |
| Financial income | 75/76B | €6,104 | €144,279 | +€138,175 | +2263.5% |
| Recurring financial income | 75 | €6,104 | €144,279 | +€138,175 | +2263.5% |
| Financial charges | 65/66B | €61,574 | €55,828 | -€5,746 | -9.3% |
| Recurring financial charges | 65 | €61,574 | €55,828 | -€5,746 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €42,475 | €78,389 | +€35,914 | +84.6% |
| Transfer from deferred taxes | 780 | €263 | €90 | -€173 | -65.8% |
| Income taxes | 67/77 | €9,278 | €154 | -€9,124 | -98.3% |
| Profit (loss) for the period | 9904 | €33,460 | €78,326 | +€44,865 | +134.1% |
| Transfer from tax-exempt reserves | 789 | €1,054 | €361 | -€693 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,514 | €78,687 | +€44,172 | +128.0% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.