Cennini Holding: what changed
What changed
Cennini Holding
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€54,542
31-12-2024 · -€57,191+€111,733
Equity
€68.5m
31-12-2024 · €18.4m+€50.1m
Cash
€1.5m
31-12-2024 · €591,892+€885,728
Balance sheet total
€72.8m
31-12-2024 · €64.9m+€7.9m
Largest movements
Assets
- Receivables after one year +€8.9m
up €8.9m (+32.2%), from €27.5m to €36.4m
- Financial fixed assets -€3.2m
down €3.2m (-24.1%), from €13.4m to €10.2m
of which Other financial fixed assets: -€3.2m
- Receivables within one year +€1.5m
up €1.5m (+70.1%), from €2.2m to €3.7m
of which Other amounts receivable: +€795,935
- Cash +€885,728
up €885,728 (+150%), from €591,892 to €1.5m
mainly Contributions, distributions and other (+€50.0m) and Investment in fixed assets (net) (+€2.4m)
Equity and liabilities
- Contributions +€50.0m
up €50.0m (+233%), from €21.5m to €71.5m
of which Capital: +€50.0m
- Debts after one year -€41.2m
down €41.2m (-92.0%), from €44.8m to €3.6m
of which Financial debts: -€41.2m
Income statement
- Financial charges +€4.1m
up €4.1m (+234%), from €1.8m to €5.9m
of which Financial charges: +€3.3m
- Financial income +€3.5m
up €3.5m (+127%), from €2.7m to €6.2m
of which Non-recurring financial income: +€2.3m
- Turnover +€834,736
up €834,736 (+122%), from €684,494 to €1.5m
- Services and other goods +€433,174
up €433,174 (+61.2%), from €707,891 to €1.1m
- Goods and materials +€401,234
new in 2025: €401,234
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
-€57,191
Turnover
+€834,736
Other operating income
-€12,462
Goods and materials
-€401,234
Services and other goods
-€433,174
Staff costs
-€4,181
Depreciation
-€41,916
Other operating charges
+€53,298
Other operating items
+€769,917
Financial income
+€3.5m
Financial charges
-€4.1m
Taxes
-€4,702
Result 31-12-2025
€54,542
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€9.8m
Investment
+€2.4m
Financing
+€8.3m
Cash 31-12-2024
€591,892
From operations (derived)
-€9.8m
Net result for the year
+€54,542
Depreciation
+€843,697
Receivables after one year
-€8.9m
Stocks and contracts
+€401,234
Receivables within one year
-€1.5m
Deferred charges and accrued income
-€189,902
Smaller working-capital items
+€57,039
Other debts
-€295,425
Accrued charges and deferred income
-€255,528
Investment (derived)
+€2.4m
Investment in fixed assets (net)
+€2.4m
Financing
+€8.3m
Debts after one year
-€41.2m
Short-term financial debts
-€500,000
Contributions, distributions and other
+€50.0m
Cash 31-12-2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €64,911,703 | €72,773,678 | +€7.9m | +12.1% |
| Fixed assets | 21/28 | €33,112,709 | €29,910,155 | -€3.2m | -9.7% |
| Tangible fixed assets | 22/27 | €19,726,421 | €19,743,829 | +€17,407 | +0.1% |
| Land and buildings | 22 | €19,672,111 | €19,711,316 | +€39,205 | +0.2% |
| Plant, machinery and equipment | 23 | €23,317 | €15,853 | -€7,464 | -32.0% |
| Furniture and vehicles | 24 | €23,013 | €8,680 | -€14,333 | -62.3% |
| Other tangible fixed assets | 26 | €7,980 | €7,980 | = | 0.0% |
| Financial fixed assets | 28 | €13,386,287 | €10,166,326 | -€3.2m | -24.1% |
| Affiliated companies | 280/1 | €1,966,796 | €1,966,796 | = | 0.0% |
| Participating interests | 280 | €1,966,796 | €1,966,796 | = | 0.0% |
| Other financial fixed assets | 284/8 | €11,419,491 | €8,199,530 | -€3.2m | -28.2% |
| Shares | 284 | €7,828,972 | €4,960,019 | -€2.9m | -36.6% |
| Amounts receivable and cash guarantees | 285/8 | €3,590,520 | €3,239,511 | -€351,009 | -9.8% |
| Current assets | 29/58 | €31,798,994 | €42,863,524 | +€11.1m | +34.8% |
| Amounts receivable after more than one year | 29 | €27,548,027 | €36,416,863 | +€8.9m | +32.2% |
| Other amounts receivable | 291 | €27,548,027 | €36,416,863 | +€8.9m | +32.2% |
| Stocks and contracts in progress | 3 | €401,234 | €0 | -€401,234 | -100% |
| Stocks | 30/36 | €401,234 | €0 | -€401,234 | -100% |
| Property held for sale | 35 | €401,234 | €0 | -€401,234 | -100% |
| Amounts receivable within one year | 40/41 | €2,168,638 | €3,689,935 | +€1.5m | +70.1% |
| Trade receivables | 40 | €860,323 | €1,585,685 | +€725,362 | +84.3% |
| Other amounts receivable | 41 | €1,308,315 | €2,104,250 | +€795,935 | +60.8% |
| Current investments | 50/53 | €611,537 | €611,537 | = | 0.0% |
| Other investments | 51/53 | €611,537 | €611,537 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €591,892 | €1,477,620 | +€885,728 | +150% |
| Deferred charges and accrued income | 490/1 | €477,666 | €667,568 | +€189,902 | +39.8% |
| Total equity and liabilities | 10/49 | €64,911,703 | €72,773,678 | +€7.9m | +12.1% |
| Equity | 10/15 | €18,432,280 | €68,486,822 | +€50.1m | +272% |
| Contributions | 10/11 | €21,488,546 | €71,488,546 | +€50.0m | +233% |
| Capital | 10 | €21,375,000 | €71,375,000 | +€50.0m | +234% |
| Issued capital | 100 | €21,375,000 | €71,375,000 | +€50.0m | +234% |
| Contributions outside capital | 11 | €113,546 | €113,546 | = | 0.0% |
| Share premium | 1100/10 | €113,546 | €113,546 | = | 0.0% |
| Reserves | 13 | €522,115 | €512,997 | -€9,118 | -1.7% |
| Non-distributable reserves | 130/1 | €100,099 | €100,099 | = | 0.0% |
| Legal reserve | 130 | €100,099 | €100,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €313,146 | €304,028 | -€9,118 | -2.9% |
| Distributable reserves | 133 | €108,870 | €108,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,578,382 | -€3,514,721 | +€63,660 | +1.8% |
| Provisions and deferred taxes | 16 | €104,382 | €101,343 | -€3,039 | -2.9% |
| Deferred taxes | 168 | €104,382 | €101,343 | -€3,039 | -2.9% |
| Amounts payable | 17/49 | €46,375,041 | €4,185,514 | -€42.2m | -91.0% |
| Amounts payable after more than one year | 17 | €44,765,755 | €3,567,104 | -€41.2m | -92.0% |
| Financial debts | 170/4 | €44,751,055 | €3,552,404 | -€41.2m | -92.1% |
| Credit institutions | 173 | €260,904 | €156,560 | -€104,344 | -40.0% |
| Other loans | 174 | €44,490,151 | €3,395,844 | -€41.1m | -92.4% |
| Other amounts payable | 178/9 | €14,700 | €14,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,309,663 | €574,316 | -€735,347 | -56.1% |
| Current portion of amounts payable after more than one year | 42 | €104,344 | €104,344 | = | 0.0% |
| Financial debts | 43 | €500,000 | €0 | -€500,000 | -100% |
| Credit institutions | 430/8 | €500,000 | €0 | -€500,000 | -100% |
| Trade debts | 44 | €359,690 | €439,600 | +€79,910 | +22.2% |
| Suppliers | 440/4 | €359,690 | €439,600 | +€79,910 | +22.2% |
| Taxes, remuneration and social security | 45 | €50,203 | €30,372 | -€19,832 | -39.5% |
| Taxes | 450/3 | €41,710 | €21,596 | -€20,114 | -48.2% |
| Remuneration and social security | 454/9 | €8,493 | €8,775 | +€282 | +3.3% |
| Other amounts payable | 47/48 | €295,425 | €0 | -€295,425 | -100% |
| Accrued charges and deferred income | 492/3 | €299,623 | €44,095 | -€255,528 | -85.3% |
| Operating income | 70/76A | €720,680 | €2,312,872 | +€1.6m | +221% |
| Turnover | 70 | €684,494 | €1,519,230 | +€834,736 | +122% |
| Other operating income | 74 | €36,186 | €23,724 | -€12,462 | -34.4% |
| Non-recurring operating income | 76A | - | €769,917 | +€769,917 | |
| Operating charges | 60/66A | €1,743,912 | €2,571,119 | +€827,207 | +47.4% |
| Goods for resale, raw materials and consumables | 60 | - | €401,234 | +€401,234 | |
| Change in stocks: decrease (increase) | 609 | - | €401,234 | +€401,234 | |
| Services and other goods | 61 | €707,891 | €1,141,065 | +€433,174 | +61.2% |
| Remuneration, social security and pensions | 62 | €81,774 | €85,955 | +€4,181 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €801,781 | €843,697 | +€41,916 | +5.2% |
| Other operating charges | 640/8 | €152,466 | €99,168 | -€53,298 | -35.0% |
| Operating profit (loss) | 9901 | -€1,023,232 | -€258,247 | +€764,985 | +74.8% |
| Financial income | 75/76B | €2,719,672 | €6,186,474 | +€3.5m | +127% |
| Recurring financial income | 75 | €2,715,934 | €3,927,688 | +€1.2m | +44.6% |
| Income from financial fixed assets | 750 | €2,559,157 | €2,264,472 | -€294,685 | -11.5% |
| Other financial income | 752/9 | €156,776 | €1,663,216 | +€1.5m | +961% |
| Non-recurring financial income | 76B | €3,738 | €2,258,786 | +€2.3m | +60,322% |
| Financial charges | 65/66B | €1,761,575 | €5,876,927 | +€4.1m | +234% |
| Recurring financial charges | 65 | €1,761,575 | €5,099,437 | +€3.3m | +189% |
| Debt charges | 650 | €1,744,154 | €646,275 | -€1.1m | -62.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €4,416,900 | +€4.4m | |
| Other financial charges | 652/9 | €17,420 | €36,262 | +€18,842 | +108% |
| Non-recurring financial charges | 66B | - | €777,490 | +€777,490 | |
| Profit (loss) for the period before taxes | 9903 | -€65,135 | €51,300 | +€116,434 | |
| Transfer from deferred taxes | 780 | €3,039 | €3,039 | = | 0.0% |
| Income taxes | 67/77 | -€4,905 | -€203 | +€4,702 | +95.9% |
| Taxes | 670/3 | €3,137 | €1,222 | -€1,915 | -61.1% |
| Tax adjustments and reversals of tax provisions | 77 | €8,042 | €1,425 | -€6,617 | -82.3% |
| Profit (loss) for the period | 9904 | -€57,191 | €54,542 | +€111,733 | |
| Transfer from tax-exempt reserves | 789 | €9,118 | €9,118 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,072 | €63,660 | +€111,733 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.