CERA-BAT: 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.
CERA-BAT
Largest movements
- Receivables within one year -€149,832
down €149,832 (-25.3%), from €592,396 to €442,563
of which Trade receivables: -€94,938
- Cash +€27,398
up €27,398 (+32.2%), from €85,024 to €112,422
mainly Receivables within one year (+€149,832) and Net result for the year (+€14,407)
- Trade debts -€138,642
down €138,642 (-39.6%), from €350,508 to €211,866
- Profit (loss) carried forward +€14,407
up €14,407 (+4.7%), from €305,659 to €320,066
- Purchases and services +€382,944
up €382,944 (+16.1%), from €2.4m to €2.8m
- Gross operating margin -€74,245
down €74,245 (-14.2%), from €524,559 to €450,314
- Staff costs -€57,103
down €57,103 (-12.1%), from €472,323 to €415,220
- Financial charges -€22,730
down €22,730 (-72.4%), from €31,381 to €8,651
of which Financial charges: -€24,744
- Other operating charges -€7,272
down €7,272 (-91.4%), from €7,955 to €684
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 | €696,864 | €576,271 | -€120,594 | -17.3% |
| Fixed assets | 21/28 | €19,445 | €21,286 | +€1,841 | +9.5% |
| Tangible fixed assets | 22/27 | €19,388 | €21,229 | +€1,841 | +9.5% |
| Plant, machinery and equipment | 23 | €6,218 | €5,020 | -€1,198 | -19.3% |
| Furniture and vehicles | 24 | €13,170 | €16,209 | +€3,039 | +23.1% |
| Financial fixed assets | 28 | €57 | €57 | = | 0.0% |
| Current assets | 29/58 | €677,420 | €554,985 | -€122,435 | -18.1% |
| Amounts receivable within one year | 40/41 | €592,396 | €442,563 | -€149,832 | -25.3% |
| Trade receivables | 40 | €498,445 | €403,506 | -€94,938 | -19.0% |
| Other amounts receivable | 41 | €93,951 | €39,057 | -€54,894 | -58.4% |
| Cash at bank and in hand | 54/58 | €85,024 | €112,422 | +€27,398 | +32.2% |
| Total equity and liabilities | 10/49 | €696,864 | €576,271 | -€120,594 | -17.3% |
| Equity | 10/15 | €305,659 | €321,926 | +€16,267 | +5.3% |
| Reserves | 13 | - | €1,860 | +€1,860 | |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Legal reserve | 130 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €305,659 | €320,066 | +€14,407 | +4.7% |
| Amounts payable | 17/49 | €391,206 | €254,345 | -€136,861 | -35.0% |
| Amounts payable within one year | 42/48 | €391,206 | €254,345 | -€136,861 | -35.0% |
| Trade debts | 44 | €350,508 | €211,866 | -€138,642 | -39.6% |
| Suppliers | 440/4 | €350,508 | €211,866 | -€138,642 | -39.6% |
| Taxes, remuneration and social security | 45 | €3,500 | €4,600 | +€1,100 | +31.4% |
| Taxes | 450/3 | €3,500 | €4,600 | +€1,100 | +31.4% |
| Other amounts payable | 47/48 | €37,197 | €37,879 | +€682 | +1.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,379,339 | €2,762,283 | +€382,944 | +16.1% |
| Remuneration, social security and pensions | 62 | €472,323 | €415,220 | -€57,103 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,805 | €6,709 | -€2,096 | -23.8% |
| Other operating charges | 640/8 | €7,955 | €684 | -€7,272 | -91.4% |
| Gross operating margin | 9900 | €524,559 | €450,314 | -€74,245 | -14.2% |
| Operating profit (loss) | 9901 | €35,476 | €27,701 | -€7,774 | -21.9% |
| Financial income | 75/76B | €1,996 | €197 | -€1,798 | -90.1% |
| Recurring financial income | 75 | €1,996 | €197 | -€1,798 | -90.1% |
| Financial charges | 65/66B | €31,381 | €8,651 | -€22,730 | -72.4% |
| Recurring financial charges | 65 | €31,381 | €6,637 | -€24,744 | -78.8% |
| Non-recurring financial charges | 66B | - | €2,013 | +€2,013 | |
| Profit (loss) for the period before taxes | 9903 | €6,090 | €19,248 | +€13,158 | +216% |
| Income taxes | 67/77 | €4,123 | €4,841 | +€718 | +17.4% |
| Profit (loss) for the period | 9904 | €1,967 | €14,407 | +€12,440 | +632% |
| Profit (loss) for the period to be appropriated | 9905 | €1,967 | €14,407 | +€12,440 | +632% |
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 20 October 2026 via checked.be.