CéRaFine: 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.
CéRaFine
Largest movements
- Tangible fixed assets -€66,951
down €66,951 (-7.5%), from €893,448 to €826,497
of which Land and buildings: -€61,356
- Receivables within one year +€12,071
up €12,071 (+58.3%), from €20,714 to €32,785
of which Trade receivables: +€12,071
- Debts after one year -€50,516
down €50,516 (-9.7%), from €522,249 to €471,733
- Other debts +€30,764
up €30,764 (+5.9%), from €517,481 to €548,245
- Profit (loss) carried forward -€17,726
down €17,726 (-9.1%), from -€195,703 to -€213,429
- Trade debts -€16,346
down €16,346 (-97.1%), from €16,830 to €484
- Staff costs -€23,528
down €23,528 (-96.4%), from €24,417 to €889
- Gross operating margin +€4,375
up €4,375 (+5.9%), from €74,129 to €78,503
- Financial charges -€2,144
down €2,144 (-14.0%), from €15,344 to €13,200
- Depreciation +€2,124
up €2,124 (+2.9%), from €73,246 to €75,370
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 | €926,421 | €868,019 | -€58,402 | -6.3% |
| Fixed assets | 21/28 | €893,811 | €826,860 | -€66,951 | -7.5% |
| Tangible fixed assets | 22/27 | €893,448 | €826,497 | -€66,951 | -7.5% |
| Land and buildings | 22 | €855,276 | €793,920 | -€61,356 | -7.2% |
| Plant, machinery and equipment | 23 | €1,925 | €1,236 | -€689 | -35.8% |
| Furniture and vehicles | 24 | €36,247 | €31,341 | -€4,906 | -13.5% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €32,610 | €41,159 | +€8,549 | +26.2% |
| Amounts receivable within one year | 40/41 | €20,714 | €32,785 | +€12,071 | +58.3% |
| Trade receivables | 40 | €714 | €12,785 | +€12,071 | +1,691% |
| Other amounts receivable | 41 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,168 | €7,110 | -€3,058 | -30.1% |
| Deferred charges and accrued income | 490/1 | €1,729 | €1,264 | -€465 | -26.9% |
| Total equity and liabilities | 10/49 | €926,421 | €868,019 | -€58,402 | -6.3% |
| Equity | 10/15 | -€189,503 | -€207,229 | -€17,726 | -9.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€195,703 | -€213,429 | -€17,726 | -9.1% |
| Amounts payable | 17/49 | €1,115,924 | €1,075,248 | -€40,676 | -3.6% |
| Amounts payable after more than one year | 17 | €522,249 | €471,733 | -€50,516 | -9.7% |
| Financial debts | 170/4 | €522,249 | €471,733 | -€50,516 | -9.7% |
| Amounts payable within one year | 42/48 | €593,675 | €603,515 | +€9,840 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €49,282 | €50,516 | +€1,235 | +2.5% |
| Trade debts | 44 | €16,830 | €484 | -€16,346 | -97.1% |
| Suppliers | 440/4 | €16,830 | €484 | -€16,346 | -97.1% |
| Taxes, remuneration and social security | 45 | €10,082 | €4,270 | -€5,812 | -57.6% |
| Taxes | 450/3 | €10,082 | €4,270 | -€5,812 | -57.6% |
| Other amounts payable | 47/48 | €517,481 | €548,245 | +€30,764 | +5.9% |
| Remuneration, social security and pensions | 62 | €24,417 | €889 | -€23,528 | -96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,246 | €75,370 | +€2,124 | +2.9% |
| Other operating charges | 640/8 | €4,665 | €5,052 | +€387 | +8.3% |
| Gross operating margin | 9900 | €74,129 | €78,503 | +€4,375 | +5.9% |
| Operating profit (loss) | 9901 | -€28,199 | -€2,808 | +€25,392 | +90.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €15,344 | €13,200 | -€2,144 | -14.0% |
| Recurring financial charges | 65 | €15,344 | €13,200 | -€2,144 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | -€43,543 | -€16,008 | +€27,535 | +63.2% |
| Income taxes | 67/77 | €1,850 | €1,718 | -€132 | -7.1% |
| Profit (loss) for the period | 9904 | -€45,393 | -€17,726 | +€27,667 | +61.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,393 | -€17,726 | +€27,667 | +61.0% |
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 14 October 2026 via checked.be.