CEO2: 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.
CEO2
Largest movements
- Deferred charges and accrued income -€20,995
down €20,995 (-98.2%), from €21,385 to €389
- Cash -€20,249
down €20,249 (-58.3%), from €34,743 to €14,494
mainly Other debts (-€22,478) and Tax, wage and social debts (-€7,738)
- Receivables within one year +€1,657
up €1,657 (+577%), from €287 to €1,944
of which Other amounts receivable: +€1,623
- Tangible fixed assets +€988
up €988 (+19.7%), from €5,023 to €6,010
- Other debts -€22,478
down €22,478 (-86.1%), from €26,110 to €3,632
- Tax, wage and social debts -€7,738
down €7,738 (-77.5%), from €9,985 to €2,247
of which Remuneration and social security: -€3,883
- Profit (loss) carried forward -€5,355
new in 2025: -€5,355
- Trade debts -€3,028
down €3,028 (-91.8%), from €3,299 to €271
- Gross operating margin -€40,614
down €40,614, from €36,859 to -€3,755
- Taxes -€8,247
no longer reported in 2025 (was €8,247)
- Depreciation +€784
up €784 (+169%), from €463 to €1,247
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,969 | €30,369 | -€38,599 | -56.0% |
| Fixed assets | 21/28 | €5,673 | €6,660 | +€988 | +17.4% |
| Tangible fixed assets | 22/27 | €5,023 | €6,010 | +€988 | +19.7% |
| Furniture and vehicles | 24 | €5,023 | €6,010 | +€988 | +19.7% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €63,296 | €23,709 | -€39,587 | -62.5% |
| Amounts receivable within one year | 40/41 | €287 | €1,944 | +€1,657 | +577% |
| Trade receivables | 40 | €287 | €321 | +€34 | +11.8% |
| Other amounts receivable | 41 | - | €1,623 | +€1,623 | |
| Current investments | 50/53 | €6,881 | €6,881 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,743 | €14,494 | -€20,249 | -58.3% |
| Deferred charges and accrued income | 490/1 | €21,385 | €389 | -€20,995 | -98.2% |
| Total equity and liabilities | 10/49 | €68,969 | €30,369 | -€38,599 | -56.0% |
| Equity | 10/15 | €29,574 | €24,219 | -€5,355 | -18.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,574 | €24,574 | = | 0.0% |
| Distributable reserves | 133 | €24,574 | €24,574 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,355 | -€5,355 | |
| Amounts payable | 17/49 | €39,394 | €6,150 | -€33,244 | -84.4% |
| Amounts payable within one year | 42/48 | €39,394 | €6,150 | -€33,244 | -84.4% |
| Trade debts | 44 | €3,299 | €271 | -€3,028 | -91.8% |
| Suppliers | 440/4 | €3,299 | €271 | -€3,028 | -91.8% |
| Taxes, remuneration and social security | 45 | €9,985 | €2,247 | -€7,738 | -77.5% |
| Taxes | 450/3 | €6,103 | €2,247 | -€3,856 | -63.2% |
| Remuneration and social security | 454/9 | €3,883 | - | -€3,883 | |
| Other amounts payable | 47/48 | €26,110 | €3,632 | -€22,478 | -86.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €463 | €1,247 | +€784 | +169% |
| Other operating charges | 640/8 | €236 | €160 | -€76 | -32.1% |
| Gross operating margin | 9900 | €36,859 | -€3,755 | -€40,614 | |
| Operating profit (loss) | 9901 | €36,160 | -€5,162 | -€41,322 | |
| Financial income | 75/76B | €40 | €5 | -€35 | -87.5% |
| Recurring financial income | 75 | €40 | €5 | -€35 | -87.5% |
| Financial charges | 65/66B | €196 | €198 | +€3 | +1.3% |
| Recurring financial charges | 65 | €196 | €198 | +€3 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €36,005 | -€5,355 | -€41,360 | |
| Income taxes | 67/77 | €8,247 | - | -€8,247 | |
| Profit (loss) for the period | 9904 | €27,758 | -€5,355 | -€33,113 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,758 | -€5,355 | -€33,113 |
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 18 October 2026 via checked.be.