CENSIE: 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
CENSIE
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€23,958
2024 · €20,338-€44,296
Equity
€1.7m
2024 · €1.7m-€23,958
Cash
€22,796
2024 · €7,785+€15,011
Balance sheet total
€5.5m
2024 · €4.3m+€1.2m
Largest movements
Assets
- Tangible fixed assets +€1.4m
up €1.4m (+33.4%), from €4.1m to €5.4m
of which Land and buildings: +€1.4m
- Deferred charges and accrued income -€136,228
no longer reported in 2025 (was €136,228)
Equity and liabilities
- Short-term financial debts +€2.1m
up €2.1m (+14,067%), from €15,000 to €2.1m
- Current portion of long-term debt -€582,971
down €582,971 (-79.4%), from €734,683 to €151,712
- Debts after one year -€292,875
down €292,875 (-15.9%), from €1.8m to €1.6m
Income statement
- Gross operating margin +€143,035
up €143,035 (+64.8%), from €220,688 to €363,723
- Other operating charges +€40,968
up €40,968 (+19,325%), from €212 to €41,180
- Taxes +€9,297
up €9,297, from -€3,750 to €5,547
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
€20,338
Gross operating margin
+€143,035
Depreciation
-€1,354
Other operating charges
-€40,968
Financial charges
-€1,296
Taxes
-€9,297
Deferred taxes and other
-€134,416
Result 2025
-€23,958
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
+€421,217
Investment
-€1.6m
Financing
+€1.2m
Cash 2024
€7,785
From operations (derived)
+€421,217
Net result for the year
-€23,958
Depreciation
+€288,015
Receivables within one year
+€15,246
Deferred charges and accrued income
+€136,228
Smaller working-capital items
+€5,686
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
+€1.2m
Debts after one year
-€292,875
Current portion of long-term debt
-€582,971
Short-term financial debts
+€2.1m
Cash 2025
€22,796
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,328,022 | €5,543,904 | +€1.2m | +28.1% |
| Fixed assets | 21/28 | €4,051,709 | €5,404,054 | +€1.4m | +33.4% |
| Tangible fixed assets | 22/27 | €4,051,009 | €5,403,354 | +€1.4m | +33.4% |
| Land and buildings | 22 | €3,872,281 | €5,244,595 | +€1.4m | +35.4% |
| Plant, machinery and equipment | 23 | €178,728 | €158,759 | -€19,969 | -11.2% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €276,313 | €139,850 | -€136,463 | -49.4% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €57,300 | €42,054 | -€15,246 | -26.6% |
| Other amounts receivable | 41 | €57,300 | €42,054 | -€15,246 | -26.6% |
| Cash at bank and in hand | 54/58 | €7,785 | €22,796 | +€15,011 | +193% |
| Deferred charges and accrued income | 490/1 | €136,228 | - | -€136,228 | |
| Total equity and liabilities | 10/49 | €4,328,022 | €5,543,904 | +€1.2m | +28.1% |
| Equity | 10/15 | €1,727,932 | €1,703,974 | -€23,958 | -1.4% |
| Contributions | 10/11 | €894,675 | €894,675 | = | 0.0% |
| Capital | 10 | €894,667 | €894,667 | = | 0.0% |
| Issued capital | 100 | €894,667 | €894,667 | = | 0.0% |
| Contributions outside capital | 11 | €8 | €8 | = | 0.0% |
| Share premium | 1100/10 | €8 | €8 | = | 0.0% |
| Reserves | 13 | €734,105 | €734,105 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,472 | €26,472 | = | 0.0% |
| Legal reserve | 130 | €26,472 | €26,472 | = | 0.0% |
| Tax-exempt reserves | 132 | €667,734 | €667,734 | = | 0.0% |
| Distributable reserves | 133 | €39,899 | €39,899 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,152 | €75,194 | -€23,958 | -24.2% |
| Amounts payable | 17/49 | €2,600,090 | €3,839,930 | +€1.2m | +47.7% |
| Amounts payable after more than one year | 17 | €1,847,647 | €1,554,772 | -€292,875 | -15.9% |
| Financial debts | 170/4 | €1,847,647 | €1,554,772 | -€292,875 | -15.9% |
| Amounts payable within one year | 42/48 | €750,556 | €2,281,011 | +€1.5m | +204% |
| Current portion of amounts payable after more than one year | 42 | €734,683 | €151,712 | -€582,971 | -79.4% |
| Financial debts | 43 | €15,000 | €2,125,000 | +€2.1m | +14,067% |
| Other loans | 439 | €15,000 | €2,125,000 | +€2.1m | +14,067% |
| Trade debts | 44 | €123 | €1,246 | +€1,123 | +913% |
| Suppliers | 440/4 | €123 | €1,246 | +€1,123 | +913% |
| Taxes, remuneration and social security | 45 | €750 | €3,053 | +€2,303 | +307% |
| Taxes | 450/3 | €750 | €3,053 | +€2,303 | +307% |
| Accrued charges and deferred income | 492/3 | €1,887 | €4,147 | +€2,260 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €286,661 | €288,015 | +€1,354 | +0.5% |
| Other operating charges | 640/8 | €212 | €41,180 | +€40,968 | +19,325% |
| Gross operating margin | 9900 | €220,688 | €363,723 | +€143,035 | +64.8% |
| Operating profit (loss) | 9901 | -€66,185 | €34,528 | +€100,713 | |
| Financial charges | 65/66B | €51,643 | €52,939 | +€1,296 | +2.5% |
| Recurring financial charges | 65 | €51,643 | €52,939 | +€1,296 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€117,828 | -€18,411 | +€99,417 | +84.4% |
| Transfer from deferred taxes | 780 | €134,416 | - | -€134,416 | |
| Income taxes | 67/77 | -€3,750 | €5,547 | +€9,297 | |
| Profit (loss) for the period | 9904 | €20,338 | -€23,958 | -€44,296 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,338 | -€23,958 | -€44,296 |
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 13 October 2026 via checked.be.