CERAL: 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.
CERAL
Largest movements
- Cash +€1.9m
up €1.9m (+774.0%), from €249,777 to €2.2m
mainly Net result for the year (+€2.2m) and Receivables within one year (+€926,134)
- Receivables within one year -€926,134
down €926,134 (-35.2%), from €2.6m to €1.7m
of which Other amounts receivable: -€1.1m
- Tangible fixed assets -€158,140
down €158,140 (-25.9%), from €611,447 to €453,307
of which Furniture and vehicles: -€113,466
- Profit (loss) carried forward +€3.0m
up €3.0m (+139.7%), from €2.1m to €5.1m
- Other debts -€1.5m
down €1.5m (-95.3%), from €1.6m to €75,000
- Reserves -€842,000
down €842,000 (-91.5%), from €920,614 to €78,614
of which Tax-exempt reserves: -€842,000
- Tax, wage and social debts +€78,493
up €78,493 (+74.6%), from €105,279 to €183,772
of which Taxes: +€55,268
- Trade debts +€68,090
up €68,090 (+32.9%), from €206,968 to €275,058
- Gross operating margin +€341,083
up €341,083 (+9.2%), from €3.7m to €4.1m
- Taxes +€186,474
up €186,474 (+34.2%), from €545,209 to €731,683
- Financial charges -€93,725
down €93,725 (-91.6%), from €102,318 to €8,593
- Financial income -€84,476
down €84,476 (-79.7%), from €105,940 to €21,464
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.
Cash bridge derived
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 | €5,079,821 | €5,854,025 | +€774,204 | +15.2% |
| Fixed assets | 21/28 | €615,097 | €456,957 | -€158,140 | -25.7% |
| Tangible fixed assets | 22/27 | €611,447 | €453,307 | -€158,140 | -25.9% |
| Land and buildings | 22 | €236,786 | €204,674 | -€32,112 | -13.6% |
| Plant, machinery and equipment | 23 | €24,498 | €11,936 | -€12,562 | -51.3% |
| Furniture and vehicles | 24 | €350,163 | €236,697 | -€113,466 | -32.4% |
| Financial fixed assets | 28 | €3,650 | €3,650 | = | 0.0% |
| Current assets | 29/58 | €4,464,724 | €5,397,069 | +€932,344 | +20.9% |
| Stocks and contracts in progress | 3 | €1,554,850 | €1,501,255 | -€53,594 | -3.4% |
| Stocks | 30/36 | €1,554,850 | €1,501,255 | -€53,594 | -3.4% |
| Amounts receivable within one year | 40/41 | €2,633,860 | €1,707,726 | -€926,134 | -35.2% |
| Trade receivables | 40 | €1,426,706 | €1,617,570 | +€190,864 | +13.4% |
| Other amounts receivable | 41 | €1,207,154 | €90,155 | -€1.1m | -92.5% |
| Cash at bank and in hand | 54/58 | €249,777 | €2,183,011 | +€1.9m | +774.0% |
| Deferred charges and accrued income | 490/1 | €26,237 | €5,076 | -€21,161 | -80.7% |
| Total equity and liabilities | 10/49 | €5,079,821 | €5,854,025 | +€774,204 | +15.2% |
| Equity | 10/15 | €3,133,052 | €5,290,456 | +€2.2m | +68.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €920,614 | €78,614 | -€842,000 | -91.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €914,417 | €72,417 | -€842,000 | -92.1% |
| Profit (loss) carried forward | 14 | €2,148,465 | €5,149,869 | +€3.0m | +139.7% |
| Investment grants | 15 | €2,000 | €0 | -€2,000 | -100.0% |
| Amounts payable | 17/49 | €1,946,769 | €563,569 | -€1.4m | -71.1% |
| Amounts payable within one year | 42/48 | €1,922,544 | €533,830 | -€1.4m | -72.2% |
| Trade debts | 44 | €206,968 | €275,058 | +€68,090 | +32.9% |
| Suppliers | 440/4 | €206,968 | €275,058 | +€68,090 | +32.9% |
| Taxes, remuneration and social security | 45 | €105,279 | €183,772 | +€78,493 | +74.6% |
| Taxes | 450/3 | €29,982 | €85,251 | +€55,268 | +184.3% |
| Remuneration and social security | 454/9 | €75,296 | €98,522 | +€23,225 | +30.8% |
| Other amounts payable | 47/48 | €1,610,297 | €75,000 | -€1.5m | -95.3% |
| Accrued charges and deferred income | 492/3 | €24,225 | €29,739 | +€5,514 | +22.8% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €940,611 | €967,476 | +€26,866 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,577 | €153,473 | -€18,104 | -10.6% |
| Other operating charges | 640/8 | €47,768 | €52,258 | +€4,490 | +9.4% |
| Non-recurring operating charges | 66A | €15,118 | €1,030 | -€14,088 | -93.2% |
| Gross operating margin | 9900 | €3,711,370 | €4,052,453 | +€341,083 | +9.2% |
| Operating profit (loss) | 9901 | €2,536,296 | €2,878,216 | +€341,920 | +13.5% |
| Financial income | 75/76B | €105,940 | €21,464 | -€84,476 | -79.7% |
| Recurring financial income | 75 | €105,940 | €21,464 | -€84,476 | -79.7% |
| Financial charges | 65/66B | €102,318 | €8,593 | -€93,725 | -91.6% |
| Recurring financial charges | 65 | €102,318 | €8,593 | -€93,725 | -91.6% |
| Profit (loss) for the period before taxes | 9903 | €2,539,917 | €2,891,087 | +€351,170 | +13.8% |
| Income taxes | 67/77 | €545,209 | €731,683 | +€186,474 | +34.2% |
| Profit (loss) for the period | 9904 | €1,994,708 | €2,159,404 | +€164,696 | +8.3% |
| Transfer from tax-exempt reserves | 789 | - | €842,000 | +€842,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,994,708 | €3,001,404 | +€1.0m | +50.5% |
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 12 October 2026 via checked.be.