CENTIEM: 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.
CENTIEM
Largest movements
- Intangible fixed assets +€270,667
new in 2025: €270,667
- Receivables within one year +€51,537
up €51,537 (+129.7%), from €39,743 to €91,280
- Current investments -€50,000
down €50,000 (-10.0%), from €500,000 to €450,000
- Cash +€49,024
up €49,024 (+66.7%), from €73,519 to €122,543
mainly Net result for the year (+€277,307) and Other debts (+€156,166)
- Other debts +€156,166
up €156,166 (+613.0%), from €25,476 to €181,641
- Reserves +€114,619
up €114,619 (+18.9%), from €606,614 to €721,233
of which Distributable reserves: +€114,709
- Trade debts +€78,749
up €78,749 (+1029.1%), from €7,652 to €86,401
- Debts after one year -€22,384
down €22,384 (-13.5%), from €165,794 to €143,410
- Gross operating margin +€195,724
up €195,724 (+41.2%), from €475,543 to €671,268
- Staff costs +€57,027
up €57,027 (+46.4%), from €122,897 to €179,925
- Depreciation +€51,776
up €51,776 (+177.5%), from €29,174 to €80,950
- Taxes +€25,040
up €25,040 (+24.9%), from €100,554 to €125,594
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 | €879,502 | €1,199,013 | +€319,511 | +36.3% |
| Fixed assets | 21/28 | €258,470 | €525,897 | +€267,426 | +103.5% |
| Intangible fixed assets | 21 | - | €270,667 | +€270,667 | |
| Tangible fixed assets | 22/27 | €258,470 | €255,230 | -€3,240 | -1.3% |
| Furniture and vehicles | 24 | €8,358 | €4,650 | -€3,708 | -44.4% |
| Other tangible fixed assets | 26 | €250,112 | €250,580 | +€468 | +0.2% |
| Current assets | 29/58 | €621,032 | €673,116 | +€52,084 | +8.4% |
| Amounts receivable within one year | 40/41 | €39,743 | €91,280 | +€51,537 | +129.7% |
| Trade receivables | 40 | €39,743 | €91,280 | +€51,537 | +129.7% |
| Current investments | 50/53 | €500,000 | €450,000 | -€50,000 | -10.0% |
| Cash at bank and in hand | 54/58 | €73,519 | €122,543 | +€49,024 | +66.7% |
| Deferred charges and accrued income | 490/1 | €7,770 | €9,294 | +€1,523 | +19.6% |
| Total equity and liabilities | 10/49 | €879,502 | €1,199,013 | +€319,511 | +36.3% |
| Equity | 10/15 | €607,614 | €722,233 | +€114,619 | +18.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €606,614 | €721,233 | +€114,619 | +18.9% |
| Tax-exempt reserves | 132 | €238 | €148 | -€90 | -38.0% |
| Distributable reserves | 133 | €606,376 | €721,086 | +€114,709 | +18.9% |
| Provisions and deferred taxes | 16 | €109 | €68 | -€42 | -38.0% |
| Deferred taxes | 168 | €109 | €68 | -€42 | -38.0% |
| Amounts payable | 17/49 | €271,778 | €476,712 | +€204,934 | +75.4% |
| Amounts payable after more than one year | 17 | €165,794 | €143,410 | -€22,384 | -13.5% |
| Financial debts | 170/4 | €165,794 | €143,410 | -€22,384 | -13.5% |
| Amounts payable within one year | 42/48 | €105,430 | €333,073 | +€227,642 | +215.9% |
| Current portion of amounts payable after more than one year | 42 | €27,398 | €22,384 | -€5,015 | -18.3% |
| Trade debts | 44 | €7,652 | €86,401 | +€78,749 | +1029.1% |
| Suppliers | 440/4 | €7,652 | €86,401 | +€78,749 | +1029.1% |
| Taxes, remuneration and social security | 45 | €44,904 | €42,647 | -€2,257 | -5.0% |
| Taxes | 450/3 | €34,851 | €12,188 | -€22,663 | -65.0% |
| Remuneration and social security | 454/9 | €10,053 | €30,459 | +€20,406 | +203.0% |
| Other amounts payable | 47/48 | €25,476 | €181,641 | +€156,166 | +613.0% |
| Accrued charges and deferred income | 492/3 | €554 | €229 | -€325 | -58.7% |
| Remuneration, social security and pensions | 62 | €122,897 | €179,925 | +€57,027 | +46.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,174 | €80,950 | +€51,776 | +177.5% |
| Other operating charges | 640/8 | €3,583 | €3,751 | +€169 | +4.7% |
| Gross operating margin | 9900 | €475,543 | €671,268 | +€195,724 | +41.2% |
| Operating profit (loss) | 9901 | €319,890 | €406,642 | +€86,752 | +27.1% |
| Financial income | 75/76B | €13,626 | €7,363 | -€6,263 | -46.0% |
| Recurring financial income | 75 | €13,626 | €7,363 | -€6,263 | -46.0% |
| Financial charges | 65/66B | €8,381 | €11,146 | +€2,765 | +33.0% |
| Recurring financial charges | 65 | €8,381 | €11,146 | +€2,765 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €325,135 | €402,859 | +€77,724 | +23.9% |
| Transfer from deferred taxes | 780 | €42 | €42 | = | 0.0% |
| Income taxes | 67/77 | €100,554 | €125,594 | +€25,040 | +24.9% |
| Profit (loss) for the period | 9904 | €224,623 | €277,307 | +€52,684 | +23.5% |
| Transfer from tax-exempt reserves | 789 | €90 | €90 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €224,713 | €277,397 | +€52,684 | +23.4% |
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 4 October 2026 via checked.be.