CEQUENZA: 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.
CEQUENZA
Largest movements
- Current investments +€132,126
up €132,126 (+271%), from €48,780 to €180,906
- Cash -€118,938
down €118,938 (-45.6%), from €260,590 to €141,652
mainly Current investments (-€132,126) and Debts after one year (-€44,088)
- Tangible fixed assets -€50,524
down €50,524 (-61.3%), from €82,414 to €31,890
of which Furniture and vehicles: -€47,990
- Receivables within one year +€7,125
up €7,125 (+26.0%), from €27,441 to €34,566
of which Other amounts receivable: +€7,474
- Debts after one year -€44,088
down €44,088 (-91.2%), from €48,340 to €4,252
- Reserves +€17,027
up €17,027 (+6.0%), from €284,370 to €301,397
of which Distributable reserves: +€17,027
- Current portion of long-term debt -€10,259
down €10,259 (-36.0%), from €28,503 to €18,245
- Tax, wage and social debts +€4,798
up €4,798 (+72.7%), from €6,600 to €11,398
- Gross operating margin -€52,608
down €52,608 (-56.8%), from €92,651 to €40,043
- Depreciation -€16,671
down €16,671 (-53.1%), from €31,410 to €14,739
- Taxes -€10,977
down €10,977 (-63.3%), from €17,331 to €6,354
- Financial income +€3,989
up €3,989 (+1,145%), from €348 to €4,337
- Financial charges -€1,131
down €1,131 (-16.2%), from €6,991 to €5,860
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 | €423,878 | €391,833 | -€32,045 | -7.6% |
| Fixed assets | 21/28 | €82,414 | €31,890 | -€50,524 | -61.3% |
| Tangible fixed assets | 22/27 | €82,414 | €31,890 | -€50,524 | -61.3% |
| Plant, machinery and equipment | 23 | €5,465 | €2,931 | -€2,534 | -46.4% |
| Furniture and vehicles | 24 | €76,949 | €28,959 | -€47,990 | -62.4% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €341,464 | €359,943 | +€18,480 | +5.4% |
| Amounts receivable within one year | 40/41 | €27,441 | €34,566 | +€7,125 | +26.0% |
| Trade receivables | 40 | €15,740 | €15,392 | -€348 | -2.2% |
| Other amounts receivable | 41 | €11,701 | €19,174 | +€7,474 | +63.9% |
| Current investments | 50/53 | €48,780 | €180,906 | +€132,126 | +271% |
| Cash at bank and in hand | 54/58 | €260,590 | €141,652 | -€118,938 | -45.6% |
| Deferred charges and accrued income | 490/1 | €4,653 | €2,819 | -€1,834 | -39.4% |
| Total equity and liabilities | 10/49 | €423,878 | €391,833 | -€32,045 | -7.6% |
| Equity | 10/15 | €290,570 | €307,597 | +€17,027 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €284,370 | €301,397 | +€17,027 | +6.0% |
| 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 | €282,510 | €299,537 | +€17,027 | +6.0% |
| Amounts payable | 17/49 | €133,307 | €84,236 | -€49,071 | -36.8% |
| Amounts payable after more than one year | 17 | €48,340 | €4,252 | -€44,088 | -91.2% |
| Financial debts | 170/4 | €48,340 | €4,252 | -€44,088 | -91.2% |
| Amounts payable within one year | 42/48 | €82,380 | €76,636 | -€5,744 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €28,503 | €18,245 | -€10,259 | -36.0% |
| Trade debts | 44 | €671 | €725 | +€54 | +8.0% |
| Suppliers | 440/4 | €671 | €725 | +€54 | +8.0% |
| Taxes, remuneration and social security | 45 | €6,600 | €11,398 | +€4,798 | +72.7% |
| Taxes | 450/3 | €6,600 | €11,398 | +€4,798 | +72.7% |
| Other amounts payable | 47/48 | €46,606 | €46,269 | -€337 | -0.7% |
| Accrued charges and deferred income | 492/3 | €2,588 | €3,348 | +€760 | +29.4% |
| Non-recurring operating income | 76A | - | €5,119 | +€5,119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,410 | €14,739 | -€16,671 | -53.1% |
| Other operating charges | 640/8 | €397 | €400 | +€2 | +0.6% |
| Gross operating margin | 9900 | €92,651 | €40,043 | -€52,608 | -56.8% |
| Operating profit (loss) | 9901 | €60,843 | €24,904 | -€35,940 | -59.1% |
| Financial income | 75/76B | €348 | €4,337 | +€3,989 | +1,145% |
| Recurring financial income | 75 | €348 | €4,337 | +€3,989 | +1,145% |
| Financial charges | 65/66B | €6,991 | €5,860 | -€1,131 | -16.2% |
| Recurring financial charges | 65 | €6,991 | €5,860 | -€1,131 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €54,201 | €23,381 | -€30,820 | -56.9% |
| Income taxes | 67/77 | €17,331 | €6,354 | -€10,977 | -63.3% |
| Profit (loss) for the period | 9904 | €36,870 | €17,027 | -€19,843 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,870 | €17,027 | -€19,843 | -53.8% |
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 25 October 2026 via checked.be.