Cennox Managed Services: 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.
What changed
Cennox Managed Services
NACE 62.200, Computer consultancy and computer facilities management
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€853,131
2024 · -€554,666-€298,465
Equity
€1.7m
2024 · €2.6m-€853,131
Cash
€568,337
2024 · €268,467+€299,870
Balance sheet total
€13.9m
2024 · €11.2m+€2.8m
Largest movements
Assets
- Financial fixed assets +€1.4m
up €1.4m (+53.9%), from €2.6m to €4.0m
of which Affiliated companies: +€1.4m
- Receivables within one year +€573,737
up €573,737 (+8.0%), from €7.1m to €7.7m
of which Trade receivables: +€347,643
- Intangible fixed assets +€366,543
up €366,543 (+52.9%), from €692,847 to €1.1m
- Cash +€299,870
up €299,870 (+112%), from €268,467 to €568,337
mainly Trade debts (+€3.6m) and Tax, wage and social debts (+€386,199)
Equity and liabilities
- Trade debts +€3.6m
up €3.6m (+68.2%), from €5.3m to €8.9m
- Profit (loss) carried forward -€853,131
down €853,131, from €238,109 to -€615,022
- Tax, wage and social debts +€386,199
up €386,199 (+36.4%), from €1.1m to €1.4m
of which Taxes: +€307,523
- Short-term financial debts -€195,268
down €195,268 (-13.4%), from €1.5m to €1.3m
- Current portion of long-term debt -€194,799
down €194,799 (-27.8%), from €700,000 to €505,201
Income statement
- Turnover +€2.5m
up €2.5m (+10.9%), from €22.8m to €25.3m
- Goods and materials +€1.9m
up €1.9m (+20.3%), from €9.2m to €11.0m
of which Purchases: +€1.9m
- Staff costs +€801,891
up €801,891 (+8.6%), from €9.3m to €10.1m
- Other operating income +€625,888
up €625,888 (+49.7%), from €1.3m to €1.9m
- Services and other goods +€517,515
up €517,515 (+9.0%), from €5.8m to €6.3m
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.
Result 2024
-€554,666
Turnover
+€2.5m
Other operating income
+€625,888
Goods and materials
-€1.9m
Services and other goods
-€517,515
Staff costs
-€801,891
Depreciation
-€148,050
Provisions
-€13,272
Other operating charges
-€19,961
Other operating items
+€1,841
Financial income
+€49,244
Financial charges
-€123,864
Taxes
+€23,612
Result 2025
-€853,131
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.7m
Investment
-€2.0m
Financing
-€390,067
Cash 2024
€268,467
From operations (derived)
+€2.7m
Net result for the year
-€853,131
Depreciation
+€268,794
Stocks and contracts
-€29,587
Receivables within one year
-€573,737
Deferred charges and accrued income
-€116,197
Trade debts
+€3.6m
Tax, wage and social debts
+€386,199
Accrued charges and deferred income
+€13,729
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.0m
Financing
-€390,067
Current portion of long-term debt
-€194,799
Short-term financial debts
-€195,268
Cash 2025
€568,337
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,155,609 | €13,906,298 | +€2.8m | +24.7% |
| Fixed assets | 21/28 | €3,384,500 | €5,115,798 | +€1.7m | +51.2% |
| Intangible fixed assets | 21 | €692,847 | €1,059,390 | +€366,543 | +52.9% |
| Tangible fixed assets | 22/27 | €105,704 | €76,102 | -€29,602 | -28.0% |
| Plant, machinery and equipment | 23 | €105,704 | €76,102 | -€29,602 | -28.0% |
| Financial fixed assets | 28 | €2,585,949 | €3,980,306 | +€1.4m | +53.9% |
| Affiliated companies | 280/1 | €2,580,849 | €3,975,206 | +€1.4m | +54.0% |
| Amounts receivable | 281 | €2,580,849 | €3,975,206 | +€1.4m | +54.0% |
| Other financial fixed assets | 284/8 | €5,100 | €5,100 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,100 | €5,100 | = | 0.0% |
| Current assets | 29/58 | €7,771,109 | €8,790,500 | +€1.0m | +13.1% |
| Stocks and contracts in progress | 3 | €170,005 | €199,593 | +€29,587 | +17.4% |
| Stocks | 30/36 | €170,005 | €199,593 | +€29,587 | +17.4% |
| Goods purchased for resale | 34 | €170,005 | €199,593 | +€29,587 | +17.4% |
| Amounts receivable within one year | 40/41 | €7,129,323 | €7,703,059 | +€573,737 | +8.0% |
| Trade receivables | 40 | €6,410,522 | €6,758,165 | +€347,643 | +5.4% |
| Other amounts receivable | 41 | €718,800 | €944,894 | +€226,094 | +31.5% |
| Cash at bank and in hand | 54/58 | €268,467 | €568,337 | +€299,870 | +112% |
| Deferred charges and accrued income | 490/1 | €203,314 | €319,511 | +€116,197 | +57.2% |
| Total equity and liabilities | 10/49 | €11,155,609 | €13,906,298 | +€2.8m | +24.7% |
| Equity | 10/15 | €2,593,270 | €1,740,139 | -€853,131 | -32.9% |
| Contributions | 10/11 | €2,355,161 | €2,355,161 | = | 0.0% |
| Profit (loss) carried forward | 14 | €238,109 | -€615,022 | -€853,131 | |
| Amounts payable | 17/49 | €8,562,339 | €12,166,159 | +€3.6m | +42.1% |
| Amounts payable within one year | 42/48 | €8,485,057 | €12,075,148 | +€3.6m | +42.3% |
| Current portion of amounts payable after more than one year | 42 | €700,000 | €505,201 | -€194,799 | -27.8% |
| Financial debts | 43 | €1,455,175 | €1,259,908 | -€195,268 | -13.4% |
| Credit institutions | 430/8 | €1,455,175 | €1,259,908 | -€195,268 | -13.4% |
| Trade debts | 44 | €5,268,520 | €8,862,479 | +€3.6m | +68.2% |
| Suppliers | 440/4 | €5,268,520 | €8,862,479 | +€3.6m | +68.2% |
| Taxes, remuneration and social security | 45 | €1,061,361 | €1,447,560 | +€386,199 | +36.4% |
| Taxes | 450/3 | - | €307,523 | +€307,523 | |
| Remuneration and social security | 454/9 | €1,061,361 | €1,140,037 | +€78,675 | +7.4% |
| Accrued charges and deferred income | 492/3 | €77,282 | €91,011 | +€13,729 | +17.8% |
| Operating income | 70/76A | €24,062,680 | €27,178,533 | +€3.1m | +12.9% |
| Turnover | 70 | €22,803,768 | €25,290,879 | +€2.5m | +10.9% |
| Other operating income | 74 | €1,258,912 | €1,884,800 | +€625,888 | +49.7% |
| Non-recurring operating income | 76A | - | €2,854 | +€2,854 | |
| Operating charges | 60/66A | €24,474,930 | €27,838,240 | +€3.4m | +13.7% |
| Goods for resale, raw materials and consumables | 60 | €9,154,974 | €11,016,583 | +€1.9m | +20.3% |
| Purchases | 600/8 | €9,108,931 | €11,046,170 | +€1.9m | +21.3% |
| Change in stocks: decrease (increase) | 609 | €46,043 | -€29,587 | -€75,631 | |
| Services and other goods | 61 | €5,754,586 | €6,272,100 | +€517,515 | +9.0% |
| Remuneration, social security and pensions | 62 | €9,272,083 | €10,073,974 | +€801,891 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,744 | €268,794 | +€148,050 | +123% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€13,272 | - | +€13,272 | |
| Other operating charges | 640/8 | €185,815 | €205,776 | +€19,961 | +10.7% |
| Non-recurring operating charges | 66A | - | €1,013 | +€1,013 | |
| Operating profit (loss) | 9901 | -€412,250 | -€659,707 | -€247,457 | -60.0% |
| Financial income | 75/76B | €43,457 | €92,701 | +€49,244 | +113% |
| Recurring financial income | 75 | €43,457 | €92,701 | +€49,244 | +113% |
| Income from financial fixed assets | 750 | €43,457 | €91,739 | +€48,282 | +111% |
| Other financial income | 752/9 | - | €962 | +€962 | |
| Financial charges | 65/66B | €133,855 | €257,719 | +€123,864 | +92.5% |
| Recurring financial charges | 65 | €133,855 | €257,719 | +€123,864 | +92.5% |
| Debt charges | 650 | €133,855 | €255,659 | +€121,804 | +91.0% |
| Other financial charges | 652/9 | - | €2,060 | +€2,060 | |
| Profit (loss) for the period before taxes | 9903 | -€502,648 | -€824,725 | -€322,078 | -64.1% |
| Income taxes | 67/77 | €52,018 | €28,406 | -€23,612 | -45.4% |
| Taxes | 670/3 | €52,018 | €28,406 | -€23,612 | -45.4% |
| Profit (loss) for the period | 9904 | -€554,666 | -€853,131 | -€298,465 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€554,666 | -€853,131 | -€298,465 | -53.8% |
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 15 October 2026 via checked.be.