Cèpes: 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.
Cèpes
Largest movements
- Tangible fixed assets -€12,630
down €12,630 (-12.1%), from €104,478 to €91,849
of which Plant, machinery and equipment: -€7,458
- Cash +€6,016
up €6,016 (+40.6%), from €14,824 to €20,840
mainly Depreciation (+€23,181) and Tax, wage and social debts (+€18,349)
- Receivables within one year +€4,061
up €4,061 (+13.3%), from €30,524 to €34,585
of which Trade receivables: +€3,690
- Debts after one year -€20,704
down €20,704 (-39.9%), from €51,904 to €31,200
- Tax, wage and social debts +€18,349
up €18,349 (+144.8%), from €12,674 to €31,023
of which Taxes: +€13,832
- Trade debts +€10,294
up €10,294 (+23.9%), from €43,067 to €53,360
- Profit (loss) carried forward -€9,641
down €9,641 (-56.4%), from -€17,095 to -€26,735
- Gross operating margin +€31,287
up €31,287 (+22.6%), from €138,449 to €169,737
- Staff costs +€30,601
up €30,601 (+26.0%), from €117,916 to €148,517
- Other operating charges -€6,086
down €6,086 (-88.5%), from €6,874 to €788
- Depreciation +€1,718
up €1,718 (+8.0%), from €21,463 to €23,181
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 | €156,339 | €155,077 | -€1,261 | -0.8% |
| Fixed assets | 21/28 | €104,478 | €91,849 | -€12,630 | -12.1% |
| Tangible fixed assets | 22/27 | €104,478 | €91,849 | -€12,630 | -12.1% |
| Plant, machinery and equipment | 23 | €94,522 | €87,064 | -€7,458 | -7.9% |
| Furniture and vehicles | 24 | €9,956 | €4,785 | -€5,171 | -51.9% |
| Current assets | 29/58 | €51,860 | €63,229 | +€11,368 | +21.9% |
| Stocks and contracts in progress | 3 | €5,939 | €5,869 | -€70 | -1.2% |
| Stocks | 30/36 | €5,939 | €5,869 | -€70 | -1.2% |
| Amounts receivable within one year | 40/41 | €30,524 | €34,585 | +€4,061 | +13.3% |
| Trade receivables | 40 | €23,837 | €27,528 | +€3,690 | +15.5% |
| Other amounts receivable | 41 | €6,687 | €7,058 | +€371 | +5.5% |
| Cash at bank and in hand | 54/58 | €14,824 | €20,840 | +€6,016 | +40.6% |
| Deferred charges and accrued income | 490/1 | €573 | €1,935 | +€1,361 | +237.4% |
| Total equity and liabilities | 10/49 | €156,339 | €155,077 | -€1,261 | -0.8% |
| Equity | 10/15 | €2,905 | -€6,735 | -€9,641 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,095 | -€26,735 | -€9,641 | -56.4% |
| Amounts payable | 17/49 | €153,433 | €161,813 | +€8,380 | +5.5% |
| Amounts payable after more than one year | 17 | €51,904 | €31,200 | -€20,704 | -39.9% |
| Financial debts | 170/4 | €51,904 | €31,200 | -€20,704 | -39.9% |
| Amounts payable within one year | 42/48 | €101,529 | €130,613 | +€29,084 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €18,267 | €19,679 | +€1,412 | +7.7% |
| Trade debts | 44 | €43,067 | €53,360 | +€10,294 | +23.9% |
| Suppliers | 440/4 | €43,067 | €53,360 | +€10,294 | +23.9% |
| Taxes, remuneration and social security | 45 | €12,674 | €31,023 | +€18,349 | +144.8% |
| Taxes | 450/3 | €5,039 | €18,871 | +€13,832 | +274.5% |
| Remuneration and social security | 454/9 | €7,635 | €12,152 | +€4,517 | +59.2% |
| Other amounts payable | 47/48 | €27,521 | €26,550 | -€971 | -3.5% |
| Remuneration, social security and pensions | 62 | €117,916 | €148,517 | +€30,601 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,463 | €23,181 | +€1,718 | +8.0% |
| Other operating charges | 640/8 | €6,874 | €788 | -€6,086 | -88.5% |
| Gross operating margin | 9900 | €138,449 | €169,737 | +€31,287 | +22.6% |
| Operating profit (loss) | 9901 | -€7,804 | -€2,750 | +€5,054 | +64.8% |
| Financial income | 75/76B | €508 | €374 | -€134 | -26.4% |
| Recurring financial income | 75 | €508 | €374 | -€134 | -26.4% |
| Financial charges | 65/66B | €7,531 | €7,265 | -€265 | -3.5% |
| Recurring financial charges | 65 | €7,531 | €7,265 | -€265 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,827 | -€9,641 | +€5,186 | +35.0% |
| Profit (loss) for the period | 9904 | -€14,827 | -€9,641 | +€5,186 | +35.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,827 | -€9,641 | +€5,186 | +35.0% |
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 11 October 2026 via checked.be.