CEPO STOETERIJ: 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.
CEPO STOETERIJ
Largest movements
- Tangible fixed assets -€103,003
down €103,003 (-10.5%), from €983,615 to €880,613
of which Leasing and similar rights: -€100,503
- Cash +€16,790
up €16,790 (+72.9%), from €23,024 to €39,813
mainly Other debts (+€228,227) and Depreciation (+€100,503)
- Profit (loss) carried forward -€306,868
down €306,868 (-11.8%), from -€2.6m to -€2.9m
- Other debts +€228,227
up €228,227 (+7.7%), from €3.0m to €3.2m
- Gross operating margin +€22,561
up €22,561 (+26.4%), from -€85,528 to -€62,967
- Financial charges +€12,006
up €12,006 (+9.3%), from €129,123 to €141,129
- Depreciation +€4,088
up €4,088 (+4.2%), from €96,415 to €100,503
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 | €1,009,199 | €923,562 | -€85,636 | -8.5% |
| Fixed assets | 21/28 | €983,615 | €880,613 | -€103,003 | -10.5% |
| Tangible fixed assets | 22/27 | €983,615 | €880,613 | -€103,003 | -10.5% |
| Furniture and vehicles | 24 | €2,500 | - | -€2,500 | |
| Leasing and similar rights | 25 | €981,115 | €880,613 | -€100,503 | -10.2% |
| Current assets | 29/58 | €25,583 | €42,950 | +€17,366 | +67.9% |
| Amounts receivable within one year | 40/41 | €979 | €1,463 | +€484 | +49.4% |
| Trade receivables | 40 | €979 | €1,463 | +€484 | +49.4% |
| Cash at bank and in hand | 54/58 | €23,024 | €39,813 | +€16,790 | +72.9% |
| Deferred charges and accrued income | 490/1 | €1,581 | €1,674 | +€93 | +5.9% |
| Total equity and liabilities | 10/49 | €1,009,199 | €923,562 | -€85,636 | -8.5% |
| Equity | 10/15 | -€1,985,486 | -€2,295,761 | -€310,275 | -15.6% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €20,451 | €17,043 | -€3,407 | -16.7% |
| Tax-exempt reserves | 132 | €20,451 | €17,043 | -€3,407 | -16.7% |
| Profit (loss) carried forward | 14 | -€2,605,936 | -€2,912,804 | -€306,868 | -11.8% |
| Provisions and deferred taxes | 16 | €11,503 | €9,587 | -€1,917 | -16.7% |
| Deferred taxes | 168 | €11,503 | €9,587 | -€1,917 | -16.7% |
| Amounts payable | 17/49 | €2,983,181 | €3,209,736 | +€226,555 | +7.6% |
| Amounts payable within one year | 42/48 | €2,983,181 | €3,209,736 | +€226,555 | +7.6% |
| Trade debts | 44 | €1,462 | €46 | -€1,416 | -96.9% |
| Suppliers | 440/4 | €1,462 | €46 | -€1,416 | -96.9% |
| Taxes, remuneration and social security | 45 | €1,583 | €1,327 | -€256 | -16.2% |
| Taxes | 450/3 | €1,583 | €1,327 | -€256 | -16.2% |
| Other amounts payable | 47/48 | €2,980,136 | €3,208,363 | +€228,227 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,415 | €100,503 | +€4,088 | +4.2% |
| Other operating charges | 640/8 | €7,376 | €7,593 | +€217 | +2.9% |
| Gross operating margin | 9900 | -€85,528 | -€62,967 | +€22,561 | +26.4% |
| Operating profit (loss) | 9901 | -€189,319 | -€171,063 | +€18,256 | +9.6% |
| Financial charges | 65/66B | €129,123 | €141,129 | +€12,006 | +9.3% |
| Recurring financial charges | 65 | €129,123 | €141,129 | +€12,006 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | -€318,442 | -€312,192 | +€6,250 | +2.0% |
| Transfer from deferred taxes | 780 | €1,917 | €1,917 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€316,525 | -€310,275 | +€6,250 | +2.0% |
| Transfer from tax-exempt reserves | 789 | €3,407 | €3,407 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€313,118 | -€306,868 | +€6,250 | +2.0% |
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 18 October 2026 via checked.be.