CEOR INVEST: what changed
What changed
CEOR INVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€57,451
2024 · €14,546+€42,905
Equity
€594,074
2024 · €536,623+€57,451
Cash
€28,612
2024 · €31,134-€2,522
Balance sheet total
€667,082
2024 · €599,381+€67,701
Largest movements
Assets
- Receivables within one year +€73,870
up €73,870 (+17.4%), from €425,677 to €499,547
of which Other amounts receivable: +€77,881
Equity and liabilities
- Profit (loss) carried forward +€57,451
up €57,451 (+11.7%), from €491,063 to €548,514
- Other debts +€12,737
up €12,737 (+40.3%), from €31,614 to €44,351
Income statement
- Gross operating margin +€43,727
up €43,727 (+199%), from €22,003 to €65,730
- Financial income -€3,897
down €3,897 (-19.3%), from €20,215 to €16,318
- Taxes -€2,109
down €2,109 (-10.1%), from €20,811 to €18,702
- Other operating charges -€899
down €899 (-31.8%), from €2,830 to €1,931
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€14,546
Gross operating margin
+€43,727
Depreciation
+€35
Other operating charges
+€899
Financial income
-€3,897
Financial charges
+€33
Taxes
+€2,109
Result 2025
€57,451
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€2,024
Investment
€0
Financing
-€498
Cash 2024
€31,134
From operations (derived)
-€2,024
Net result for the year
+€57,451
Depreciation
+€3,688
Receivables within one year
-€73,870
Smaller working-capital items
-€29
Tax, wage and social debts
-€2,002
Other debts
+€12,737
Financing
-€498
Short-term financial debts
-€498
Cash 2025
€28,612
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €599,381 | €667,082 | +€67,701 | +11.3% |
| Fixed assets | 21/28 | €140,113 | €136,425 | -€3,688 | -2.6% |
| Tangible fixed assets | 22/27 | €139,593 | €135,905 | -€3,688 | -2.6% |
| Land and buildings | 22 | €139,407 | €135,905 | -€3,502 | -2.5% |
| Furniture and vehicles | 24 | €186 | - | -€186 | |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €459,268 | €530,657 | +€71,389 | +15.5% |
| Amounts receivable within one year | 40/41 | €425,677 | €499,547 | +€73,870 | +17.4% |
| Trade receivables | 40 | €70,024 | €66,013 | -€4,011 | -5.7% |
| Other amounts receivable | 41 | €355,653 | €433,534 | +€77,881 | +21.9% |
| Cash at bank and in hand | 54/58 | €31,134 | €28,612 | -€2,522 | -8.1% |
| Deferred charges and accrued income | 490/1 | €2,457 | €2,498 | +€41 | +1.7% |
| Total equity and liabilities | 10/49 | €599,381 | €667,082 | +€67,701 | +11.3% |
| Equity | 10/15 | €536,623 | €594,074 | +€57,451 | +10.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,360 | €39,360 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €491,063 | €548,514 | +€57,451 | +11.7% |
| Amounts payable | 17/49 | €62,758 | €73,007 | +€10,249 | +16.3% |
| Amounts payable within one year | 42/48 | €62,758 | €73,007 | +€10,249 | +16.3% |
| Financial debts | 43 | €498 | - | -€498 | |
| Credit institutions | 430/8 | €498 | - | -€498 | |
| Trade debts | 44 | €25,918 | €25,930 | +€12 | 0.0% |
| Suppliers | 440/4 | €25,918 | €25,930 | +€12 | 0.0% |
| Taxes, remuneration and social security | 45 | €4,728 | €2,726 | -€2,002 | -42.3% |
| Taxes | 450/3 | €4,728 | €2,726 | -€2,002 | -42.3% |
| Other amounts payable | 47/48 | €31,614 | €44,351 | +€12,737 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,723 | €3,688 | -€35 | -0.9% |
| Other operating charges | 640/8 | €2,830 | €1,931 | -€899 | -31.8% |
| Gross operating margin | 9900 | €22,003 | €65,730 | +€43,727 | +199% |
| Operating profit (loss) | 9901 | €15,450 | €60,111 | +€44,660 | +289% |
| Financial income | 75/76B | €20,215 | €16,318 | -€3,897 | -19.3% |
| Recurring financial income | 75 | €20,215 | €16,318 | -€3,897 | -19.3% |
| Financial charges | 65/66B | €308 | €275 | -€33 | -10.6% |
| Recurring financial charges | 65 | €308 | €275 | -€33 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €35,357 | €76,153 | +€40,796 | +115% |
| Income taxes | 67/77 | €20,811 | €18,702 | -€2,109 | -10.1% |
| Profit (loss) for the period | 9904 | €14,546 | €57,451 | +€42,905 | +295% |
| Profit (loss) for the period to be appropriated | 9905 | €14,546 | €57,451 | +€42,905 | +295% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.