Ceno Construct: 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.
Ceno Construct
Largest movements
- Cash -€37,259
down €37,259 (-62.1%), from €60,019 to €22,760
mainly Advances received (-€56,604) and Net result for the year (-€17,808)
- Stocks and contracts -€31,493
no longer reported in 2025 (was €31,493)
- Tangible fixed assets -€7,582
down €7,582 (-47.8%), from €15,851 to €8,269
of which Plant, machinery and equipment: -€7,159
- Receivables within one year -€4,038
down €4,038 (-52.3%), from €7,718 to €3,680
- Advances received -€56,604
no longer reported in 2025 (was €56,604)
- Profit (loss) carried forward -€17,808
down €17,808, from €1,856 to -€15,952
- Current portion of long-term debt -€6,703
down €6,703 (-83.2%), from €8,061 to €1,358
- Other debts +€2,328
up €2,328 (+179.9%), from €1,294 to €3,622
- Trade debts -€1,637
down €1,637 (-11.1%), from €14,760 to €13,123
- Gross operating margin -€30,104
down €30,104, from €25,692 to -€4,412
- Taxes -€2,807
down €2,807 (-92.9%), from €3,023 to €216
- Depreciation -€453
down €453 (-3.7%), from €12,247 to €11,794
- Financial charges -€300
down €300 (-23.8%), from €1,261 to €961
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 | €118,387 | €38,232 | -€80,155 | -67.7% |
| Fixed assets | 21/28 | €17,351 | €9,769 | -€7,582 | -43.7% |
| Tangible fixed assets | 22/27 | €15,851 | €8,269 | -€7,582 | -47.8% |
| Plant, machinery and equipment | 23 | €13,054 | €5,895 | -€7,159 | -54.8% |
| Furniture and vehicles | 24 | €2,797 | €2,374 | -€423 | -15.1% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €101,035 | €28,462 | -€72,573 | -71.8% |
| Stocks and contracts in progress | 3 | €31,493 | - | -€31,493 | |
| Contracts in progress | 37 | €31,493 | - | -€31,493 | |
| Amounts receivable within one year | 40/41 | €7,718 | €3,680 | -€4,038 | -52.3% |
| Other amounts receivable | 41 | €7,718 | €3,680 | -€4,038 | -52.3% |
| Cash at bank and in hand | 54/58 | €60,019 | €22,760 | -€37,259 | -62.1% |
| Deferred charges and accrued income | 490/1 | €1,805 | €2,023 | +€218 | +12.1% |
| Total equity and liabilities | 10/49 | €118,387 | €38,232 | -€80,155 | -67.7% |
| Equity | 10/15 | €30,032 | €12,224 | -€17,808 | -59.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,576 | €9,576 | = | 0.0% |
| Distributable reserves | 133 | €9,576 | €9,576 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,856 | -€15,952 | -€17,808 | |
| Amounts payable | 17/49 | €88,355 | €26,007 | -€62,347 | -70.6% |
| Amounts payable after more than one year | 17 | €1,358 | - | -€1,358 | |
| Financial debts | 170/4 | €1,358 | - | -€1,358 | |
| Amounts payable within one year | 42/48 | €86,997 | €26,007 | -€60,989 | -70.1% |
| Current portion of amounts payable after more than one year | 42 | €8,061 | €1,358 | -€6,703 | -83.2% |
| Trade debts | 44 | €14,760 | €13,123 | -€1,637 | -11.1% |
| Suppliers | 440/4 | €14,760 | €13,123 | -€1,637 | -11.1% |
| Advances received on contracts in progress | 46 | €56,604 | - | -€56,604 | |
| Taxes, remuneration and social security | 45 | €6,278 | €7,905 | +€1,627 | +25.9% |
| Taxes | 450/3 | - | €2,605 | +€2,605 | |
| Remuneration and social security | 454/9 | €6,278 | €5,300 | -€978 | -15.6% |
| Other amounts payable | 47/48 | €1,294 | €3,622 | +€2,328 | +179.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,247 | €11,794 | -€453 | -3.7% |
| Other operating charges | 640/8 | €586 | €427 | -€159 | -27.1% |
| Gross operating margin | 9900 | €25,692 | -€4,412 | -€30,104 | |
| Operating profit (loss) | 9901 | €12,859 | -€16,634 | -€29,492 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +1168.4% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +1168.4% |
| Financial charges | 65/66B | €1,261 | €961 | -€300 | -23.8% |
| Recurring financial charges | 65 | €1,261 | €961 | -€300 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €11,598 | -€17,592 | -€29,190 | |
| Income taxes | 67/77 | €3,023 | €216 | -€2,807 | -92.9% |
| Profit (loss) for the period | 9904 | €8,575 | -€17,808 | -€26,383 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,575 | -€17,808 | -€26,383 |
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 12 October 2026 via checked.be.