CEPHAS: 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.
CEPHAS
Largest movements
- Tangible fixed assets -€9,510
down €9,510 (-8.5%), from €112,488 to €102,978
- Reserves -€9,662
down €9,662 (-7.3%), from €133,101 to €123,440
- Financial income -€2,411
down €2,411 (-74.9%), from €3,220 to €810
- Gross operating margin -€416
down €416 (-42.8%), from €971 to €556
- Depreciation -€394
down €394 (-4.0%), from €9,904 to €9,510
- Other operating charges +€38
up €38 (+2.7%), from €1,407 to €1,445
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 | €171,392 | €161,988 | -€9,405 | -5.5% |
| Fixed assets | 21/28 | €117,488 | €107,978 | -€9,510 | -8.1% |
| Tangible fixed assets | 22/27 | €112,488 | €102,978 | -€9,510 | -8.5% |
| Land and buildings | 22 | €112,488 | €102,978 | -€9,510 | -8.5% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €53,904 | €54,009 | +€105 | +0.2% |
| Amounts receivable within one year | 40/41 | €423 | €588 | +€165 | +39.1% |
| Trade receivables | 40 | €0 | €62 | +€62 | |
| Other amounts receivable | 41 | €423 | €527 | +€104 | +24.5% |
| Current investments | 50/53 | €18,462 | €18,801 | +€339 | +1.8% |
| Cash at bank and in hand | 54/58 | €35,019 | €34,620 | -€399 | -1.1% |
| Total equity and liabilities | 10/49 | €171,392 | €161,988 | -€9,405 | -5.5% |
| Equity | 10/15 | €153,101 | €143,440 | -€9,662 | -6.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €133,101 | €123,440 | -€9,662 | -7.3% |
| Distributable reserves | 133 | €133,101 | €123,440 | -€9,662 | -7.3% |
| Amounts payable | 17/49 | €18,291 | €18,548 | +€257 | +1.4% |
| Amounts payable within one year | 42/48 | €18,291 | €18,548 | +€257 | +1.4% |
| Trade debts | 44 | - | €277 | +€277 | |
| Suppliers | 440/4 | - | €277 | +€277 | |
| Taxes, remuneration and social security | 45 | €31 | €31 | = | 0.0% |
| Taxes | 450/3 | €31 | €31 | = | 0.0% |
| Other amounts payable | 47/48 | €18,260 | €18,240 | -€20 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,904 | €9,510 | -€394 | -4.0% |
| Other operating charges | 640/8 | €1,407 | €1,445 | +€38 | +2.7% |
| Gross operating margin | 9900 | €971 | €556 | -€416 | -42.8% |
| Operating profit (loss) | 9901 | -€10,340 | -€10,399 | -€59 | -0.6% |
| Financial income | 75/76B | €3,220 | €810 | -€2,411 | -74.9% |
| Recurring financial income | 75 | €3,220 | €810 | -€2,411 | -74.9% |
| Financial charges | 65/66B | €67 | €72 | +€5 | +7.4% |
| Recurring financial charges | 65 | €67 | €72 | +€5 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,187 | -€9,662 | -€2,475 | -34.4% |
| Profit (loss) for the period | 9904 | -€7,187 | -€9,662 | -€2,475 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,187 | -€9,662 | -€2,475 | -34.4% |
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 14 October 2026 via checked.be.