CENSAIR: what changed
Two fiscal 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.
CENSAIR
Largest movements
- Receivables after one year +€49,320
up €49,320 (+61.6%), from €80,000 to €129,320
- Receivables within one year -€43,380
down €43,380 (-22.7%), from €190,932 to €147,551
of which Other amounts receivable: -€58,892
- Cash +€31,624
up €31,624 (+10.9%), from €289,195 to €320,819
mainly Net result for the year (+€333,150) and Other debts (+€125,000)
- Tangible fixed assets +€27,604
up €27,604 (+18.1%), from €152,713 to €180,317
of which Leasing and similar rights: +€35,965
- Other debts +€125,000
up €125,000 (+83.3%), from €150,000 to €275,000
- Current portion of long-term debt -€46,725
down €46,725 (-70.1%), from €66,688 to €19,963
- Reserves +€27,524
up €27,524 (+7.1%), from €389,897 to €417,420
of which Distributable reserves: +€27,524
- Debts after one year -€19,963
down €19,963 (-35.4%), from €56,439 to €36,476
- Accrued charges and deferred income -€8,967
down €8,967 (-46.3%), from €19,375 to €10,408
- Gross operating margin +€142,988
up €142,988 (+24.3%), from €588,932 to €731,921
- Staff costs +€46,545
up €46,545 (+18.5%), from €251,524 to €298,069
- Depreciation +€20,721
up €20,721 (+55.6%), from €37,246 to €57,966
- Other operating charges +€15,252
up €15,252 (+1665.8%), from €916 to €16,167
- Taxes -€12,983
down €12,983 (-31.4%), from €41,307 to €28,324
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 | €779,077 | €852,606 | +€73,529 | +9.4% |
| Fixed assets | 21/28 | €152,713 | €180,317 | +€27,604 | +18.1% |
| Tangible fixed assets | 22/27 | €152,713 | €180,317 | +€27,604 | +18.1% |
| Land and buildings | 22 | €1,012 | €34,628 | +€33,615 | +3320.8% |
| Plant, machinery and equipment | 23 | €7,567 | €15,786 | +€8,219 | +108.6% |
| Furniture and vehicles | 24 | €144,134 | €93,938 | -€50,195 | -34.8% |
| Leasing and similar rights | 25 | - | €35,965 | +€35,965 | |
| Current assets | 29/58 | €626,364 | €672,289 | +€45,925 | +7.3% |
| Amounts receivable after more than one year | 29 | €80,000 | €129,320 | +€49,320 | +61.6% |
| Other amounts receivable | 291 | €80,000 | €129,320 | +€49,320 | +61.6% |
| Stocks and contracts in progress | 3 | €58,920 | €66,523 | +€7,603 | +12.9% |
| Stocks | 30/36 | €58,920 | €35,961 | -€22,959 | -39.0% |
| Contracts in progress | 37 | - | €30,562 | +€30,562 | |
| Amounts receivable within one year | 40/41 | €190,932 | €147,551 | -€43,380 | -22.7% |
| Trade receivables | 40 | €105,007 | €120,519 | +€15,512 | +14.8% |
| Other amounts receivable | 41 | €85,925 | €27,033 | -€58,892 | -68.5% |
| Cash at bank and in hand | 54/58 | €289,195 | €320,819 | +€31,624 | +10.9% |
| Deferred charges and accrued income | 490/1 | €7,317 | €8,077 | +€759 | +10.4% |
| Total equity and liabilities | 10/49 | €779,077 | €852,606 | +€73,529 | +9.4% |
| Equity | 10/15 | €396,413 | €423,937 | +€27,524 | +6.9% |
| Contributions | 10/11 | €6,516 | €6,516 | = | 0.0% |
| Reserves | 13 | €389,897 | €417,420 | +€27,524 | +7.1% |
| Non-distributable reserves | 130/1 | €4,209 | €4,209 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,209 | €4,209 | = | 0.0% |
| Distributable reserves | 133 | €385,688 | €413,212 | +€27,524 | +7.1% |
| Amounts payable | 17/49 | €382,664 | €428,669 | +€46,005 | +12.0% |
| Amounts payable after more than one year | 17 | €56,439 | €36,476 | -€19,963 | -35.4% |
| Financial debts | 170/4 | €56,439 | €36,476 | -€19,963 | -35.4% |
| Amounts payable within one year | 42/48 | €306,850 | €381,785 | +€74,936 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | €66,688 | €19,963 | -€46,725 | -70.1% |
| Trade debts | 44 | €82,549 | €78,159 | -€4,391 | -5.3% |
| Suppliers | 440/4 | €82,549 | €78,159 | -€4,391 | -5.3% |
| Taxes, remuneration and social security | 45 | €7,612 | €8,663 | +€1,051 | +13.8% |
| Taxes | 450/3 | - | €8,663 | +€8,663 | |
| Remuneration and social security | 454/9 | €7,612 | - | -€7,612 | |
| Other amounts payable | 47/48 | €150,000 | €275,000 | +€125,000 | +83.3% |
| Accrued charges and deferred income | 492/3 | €19,375 | €10,408 | -€8,967 | -46.3% |
| Remuneration, social security and pensions | 62 | €251,524 | €298,069 | +€46,545 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,246 | €57,966 | +€20,721 | +55.6% |
| Other operating charges | 640/8 | €916 | €16,167 | +€15,252 | +1665.8% |
| Gross operating margin | 9900 | €588,932 | €731,921 | +€142,988 | +24.3% |
| Operating profit (loss) | 9901 | €299,247 | €359,717 | +€60,471 | +20.2% |
| Financial income | 75/76B | €12,479 | €15,955 | +€3,475 | +27.8% |
| Recurring financial income | 75 | €12,479 | €15,955 | +€3,475 | +27.8% |
| Financial charges | 65/66B | €26,365 | €14,198 | -€12,167 | -46.1% |
| Recurring financial charges | 65 | €26,365 | €14,198 | -€12,167 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €285,361 | €361,474 | +€76,113 | +26.7% |
| Income taxes | 67/77 | €41,307 | €28,324 | -€12,983 | -31.4% |
| Profit (loss) for the period | 9904 | €244,054 | €333,150 | +€89,096 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €244,054 | €333,150 | +€89,096 | +36.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.