CEOACH: 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.
CEOACH
Largest movements
- Receivables within one year -€77,221
down €77,221 (-62.2%), from €124,120 to €46,900
of which Trade receivables: -€62,265
- Tangible fixed assets -€27,222
down €27,222 (-36.8%), from €73,988 to €46,766
of which Land and buildings: -€18,511
- Cash -€17,947
down €17,947 (-3.5%), from €518,861 to €500,914
mainly Contributions, distributions and other (-€194,485) and Net result for the year (-€109,083)
- Reserves -€194,485
down €194,485 (-36.5%), from €532,449 to €337,963
of which Distributable reserves: -€194,485
- Other debts +€194,485
up €194,485 (+850.1%), from €22,878 to €217,363
- Profit (loss) carried forward -€109,083
down €109,083 (-90.6%), from €120,352 to €11,270
- Trade debts -€9,358
down €9,358 (-89.6%), from €10,443 to €1,085
- Gross operating margin -€316,235
down €316,235, from €239,245 to -€76,990
- Taxes -€61,200
down €61,200 (-99.0%), from €61,833 to €634
- Other operating charges -€3,988
down €3,988 (-33.4%), from €11,942 to €7,954
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 | €723,461 | €606,904 | -€116,556 | -16.1% |
| Fixed assets | 21/28 | €76,688 | €56,266 | -€20,422 | -26.6% |
| Tangible fixed assets | 22/27 | €73,988 | €46,766 | -€27,222 | -36.8% |
| Land and buildings | 22 | €41,092 | €22,581 | -€18,511 | -45.0% |
| Furniture and vehicles | 24 | €24,881 | €15,073 | -€9,808 | -39.4% |
| Other tangible fixed assets | 26 | €8,015 | €9,112 | +€1,096 | +13.7% |
| Financial fixed assets | 28 | €2,700 | €9,500 | +€6,800 | +251.9% |
| Current assets | 29/58 | €646,772 | €550,638 | -€96,134 | -14.9% |
| Amounts receivable within one year | 40/41 | €124,120 | €46,900 | -€77,221 | -62.2% |
| Trade receivables | 40 | €63,257 | €992 | -€62,265 | -98.4% |
| Other amounts receivable | 41 | €60,863 | €45,907 | -€14,956 | -24.6% |
| Cash at bank and in hand | 54/58 | €518,861 | €500,914 | -€17,947 | -3.5% |
| Deferred charges and accrued income | 490/1 | €3,791 | €2,824 | -€966 | -25.5% |
| Total equity and liabilities | 10/49 | €723,461 | €606,904 | -€116,556 | -16.1% |
| Equity | 10/15 | €665,401 | €361,833 | -€303,568 | -45.6% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €532,449 | €337,963 | -€194,485 | -36.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €530,589 | €336,103 | -€194,485 | -36.7% |
| Profit (loss) carried forward | 14 | €120,352 | €11,270 | -€109,083 | -90.6% |
| Amounts payable | 17/49 | €58,059 | €245,071 | +€187,012 | +322.1% |
| Amounts payable within one year | 42/48 | €56,269 | €243,231 | +€186,962 | +332.3% |
| Financial debts | 43 | €182 | - | -€182 | |
| Credit institutions | 430/8 | €182 | - | -€182 | |
| Trade debts | 44 | €10,443 | €1,085 | -€9,358 | -89.6% |
| Suppliers | 440/4 | €10,443 | €1,085 | -€9,358 | -89.6% |
| Taxes, remuneration and social security | 45 | €22,767 | €24,783 | +€2,016 | +8.9% |
| Taxes | 450/3 | €22,767 | €21,450 | -€1,317 | -5.8% |
| Remuneration and social security | 454/9 | - | €3,333 | +€3,333 | |
| Other amounts payable | 47/48 | €22,878 | €217,363 | +€194,485 | +850.1% |
| Accrued charges and deferred income | 492/3 | €1,790 | €1,840 | +€50 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,274 | €26,161 | -€113 | -0.4% |
| Other operating charges | 640/8 | €11,942 | €7,954 | -€3,988 | -33.4% |
| Gross operating margin | 9900 | €239,245 | -€76,990 | -€316,235 | |
| Operating profit (loss) | 9901 | €201,030 | -€111,105 | -€312,135 | |
| Financial income | 75/76B | €1,960 | €2,859 | +€899 | +45.8% |
| Recurring financial income | 75 | €1,960 | €2,859 | +€899 | +45.8% |
| Financial charges | 65/66B | €442 | €203 | -€239 | -54.2% |
| Recurring financial charges | 65 | €442 | €203 | -€239 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | €202,548 | -€108,449 | -€310,997 | |
| Income taxes | 67/77 | €61,833 | €634 | -€61,200 | -99.0% |
| Profit (loss) for the period | 9904 | €140,715 | -€109,083 | -€249,797 | |
| Profit (loss) for the period to be appropriated | 9905 | €140,715 | -€109,083 | -€249,797 |
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 3 October 2026 via checked.be.