CER CONSULT: 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.
CER CONSULT
Largest movements
- Receivables within one year +€16,345
up €16,345 (+660%), from €2,475 to €18,820
of which Trade receivables: +€18,755
- Tangible fixed assets -€9,092
down €9,092 (-20.1%), from €45,298 to €36,206
of which Furniture and vehicles: -€8,624
- Receivables after one year -€3,850
down €3,850 (-42.8%), from €9,000 to €5,150
- Cash -€2,736
down €2,736 (-18.3%), from €14,960 to €12,224
mainly Receivables within one year (-€16,345) and Debts after one year (-€8,374)
- Debts after one year -€8,374
down €8,374 (-24.8%), from €33,703 to €25,329
- Tax, wage and social debts +€4,679
up €4,679 (+120%), from €3,884 to €8,563
- Short-term financial debts +€4,254
up €4,254 (+94.5%), from €4,500 to €8,754
- Other debts -€2,374
down €2,374 (-29.7%), from €8,000 to €5,626
- Reserves +€1,350
up €1,350 (+16.1%), from €8,398 to €9,748
- Gross operating margin +€14,055
up €14,055 (+151%), from €9,294 to €23,349
- Depreciation +€7,518
up €7,518 (+378%), from €1,991 to €9,509
- Taxes +€1,617
up €1,617 (+73.8%), from €2,190 to €3,807
- Financial charges +€394
up €394 (+25.5%), from €1,544 to €1,938
- Other operating charges +€288
up €288 (+27.3%), from €1,054 to €1,342
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,721 | €74,413 | +€692 | +0.9% |
| Fixed assets | 21/28 | €45,898 | €36,806 | -€9,092 | -19.8% |
| Tangible fixed assets | 22/27 | €45,298 | €36,206 | -€9,092 | -20.1% |
| Plant, machinery and equipment | 23 | €438 | €668 | +€230 | +52.5% |
| Furniture and vehicles | 24 | €42,689 | €34,065 | -€8,624 | -20.2% |
| Other tangible fixed assets | 26 | €2,171 | €1,473 | -€698 | -32.1% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €27,823 | €37,606 | +€9,784 | +35.2% |
| Amounts receivable after more than one year | 29 | €9,000 | €5,150 | -€3,850 | -42.8% |
| Trade receivables | 290 | €9,000 | €5,150 | -€3,850 | -42.8% |
| Amounts receivable within one year | 40/41 | €2,475 | €18,820 | +€16,345 | +660% |
| Trade receivables | 40 | €0 | €18,755 | +€18,755 | |
| Other amounts receivable | 41 | €2,475 | €65 | -€2,410 | -97.4% |
| Cash at bank and in hand | 54/58 | €14,960 | €12,224 | -€2,736 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,387 | €1,412 | +€26 | +1.8% |
| Total equity and liabilities | 10/49 | €73,721 | €74,413 | +€692 | +0.9% |
| Equity | 10/15 | €14,598 | €15,948 | +€1,350 | +9.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,398 | €9,748 | +€1,350 | +16.1% |
| Distributable reserves | 133 | €8,398 | €9,748 | +€1,350 | +16.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €59,123 | €58,465 | -€658 | -1.1% |
| Amounts payable after more than one year | 17 | €33,703 | €25,329 | -€8,374 | -24.8% |
| Financial debts | 170/4 | €33,703 | €25,329 | -€8,374 | -24.8% |
| Amounts payable within one year | 42/48 | €25,420 | €33,136 | +€7,716 | +30.4% |
| Current portion of amounts payable after more than one year | 42 | €8,095 | €8,374 | +€279 | +3.5% |
| Financial debts | 43 | €4,500 | €8,754 | +€4,254 | +94.5% |
| Credit institutions | 430/8 | €4,500 | €8,754 | +€4,254 | +94.5% |
| Trade debts | 44 | €942 | €1,819 | +€877 | +93.1% |
| Suppliers | 440/4 | €942 | €1,819 | +€877 | +93.1% |
| Taxes, remuneration and social security | 45 | €3,884 | €8,563 | +€4,679 | +120% |
| Taxes | 450/3 | €3,884 | €8,563 | +€4,679 | +120% |
| Other amounts payable | 47/48 | €8,000 | €5,626 | -€2,374 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,991 | €9,509 | +€7,518 | +378% |
| Other operating charges | 640/8 | €1,054 | €1,342 | +€288 | +27.3% |
| Non-recurring operating charges | 66A | - | €120 | +€120 | |
| Gross operating margin | 9900 | €9,294 | €23,349 | +€14,055 | +151% |
| Operating profit (loss) | 9901 | €6,249 | €12,379 | +€6,129 | +98.1% |
| Financial income | 75/76B | €68 | €75 | +€6 | +8.9% |
| Recurring financial income | 75 | €68 | €75 | +€6 | +8.9% |
| Financial charges | 65/66B | €1,544 | €1,938 | +€394 | +25.5% |
| Recurring financial charges | 65 | €1,544 | €1,938 | +€394 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €4,774 | €10,516 | +€5,742 | +120% |
| Income taxes | 67/77 | €2,190 | €3,807 | +€1,617 | +73.8% |
| Profit (loss) for the period | 9904 | €2,583 | €6,708 | +€4,125 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €2,583 | €6,708 | +€4,125 | +160% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.