CERATEC: 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.
What changed
CERATEC
NACE 28.220, Manufacture of machinery and equipment not elsewhere classified
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€8.5m
2024 · €8.1m+€408,118
Equity
€34.6m
2024 · €26.1m+€8.5m
Cash
€4.1m
2024 · €10.2m-€6.1m
Balance sheet total
€79.0m
2024 · €73.6m+€5.4m
Largest movements
Assets
- Current investments +€14.8m
new in 2025: €14.8m
- Receivables within one year -€10.8m
down €10.8m (-30.5%), from €35.4m to €24.6m
of which Trade receivables: -€8.9m
- Financial fixed assets +€10.0m
up €10.0m (+1286.1%), from €777,550 to €10.8m
of which Affiliated companies: +€10.0m
- Cash -€6.1m
down €6.1m (-59.7%), from €10.2m to €4.1m
mainly Current investments (-€14.8m) and Investment in fixed assets (net) (-€12.6m)
- Stocks and contracts -€3.2m
down €3.2m (-16.8%), from €19.3m to €16.0m
of which Contracts in progress: -€2.5m
Equity and liabilities
- Reserves +€11.0m
up €11.0m (+57.9%), from €19.0m to €30.0m
of which Distributable reserves: +€8.3m
- Trade debts -€6.9m
down €6.9m (-33.1%), from €20.9m to €14.0m
- Advances received +€3.6m
up €3.6m (+29.3%), from €12.4m to €16.0m
- Profit (loss) carried forward -€2.5m
down €2.5m (-72.6%), from €3.5m to €948,451
- Debts after one year +€1.9m
up €1.9m (+66.0%), from €2.9m to €4.8m
Income statement
- Turnover +€44.6m
up €44.6m (+37.9%), from €117.7m to €162.3m
- Goods and materials -€33.1m
down €33.1m (-38.3%), from €86.5m to €53.4m
of which Purchases: -€33.5m
- Financial income +€1.7m
up €1.7m (+389.8%), from €442,970 to €2.2m
of which Financial income: +€2.0m
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.
Result 2024
€8.1m
Turnover
+€44.6m
Other operating income
-€27,361
Goods and materials
+€33.1m
Services and other goods
-€336,190
Staff costs
+€1.3m
Depreciation
-€209,462
Write-downs
+€379,608
Other operating charges
+€187,503
Other operating items
-€81.3m
Financial income
+€1.7m
Financial charges
+€19,561
Taxes
+€944,866
Result 2025
€8.5m
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.
From operations
+€19.1m
Investment
-€27.3m
Financing
+€2.2m
Cash 2024
€10.2m
From operations (derived)
+€19.1m
Net result for the year
+€8.5m
Depreciation
+€1.8m
Stocks and contracts
+€3.2m
Receivables within one year
+€10.8m
Smaller working-capital items
+€44,471
Provisions
-€144,881
Trade debts
-€6.9m
Tax, wage and social debts
-€757,034
Advances received
+€3.6m
Other debts
-€1.1m
Investment (derived)
-€27.3m
Investment in fixed assets (net)
-€12.6m
Current investments
-€14.8m
Financing
+€2.2m
Debts after one year
+€1.9m
Current portion of long-term debt
+€252,852
Contributions, distributions and other
-€0
Cash 2025
€4.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,571,291 | €78,996,430 | +€5.4m | +7.4% |
| Fixed assets | 21/28 | €8,649,729 | €19,428,840 | +€10.8m | +124.6% |
| Intangible fixed assets | 21 | €454,233 | €555,763 | +€101,530 | +22.4% |
| Tangible fixed assets | 22/27 | €7,417,946 | €8,095,477 | +€677,531 | +9.1% |
| Land and buildings | 22 | €5,054,817 | €5,377,869 | +€323,053 | +6.4% |
| Plant, machinery and equipment | 23 | €415,670 | €163,904 | -€251,766 | -60.6% |
| Furniture and vehicles | 24 | €1,211,889 | €1,433,222 | +€221,333 | +18.3% |
| Leasing and similar rights | 25 | €735,570 | €1,120,482 | +€384,912 | +52.3% |
| Financial fixed assets | 28 | €777,550 | €10,777,600 | +€10.0m | +1286.1% |
| Affiliated companies | 280/1 | €750,000 | €10,750,000 | +€10.0m | +1333.3% |
| Participating interests | 280 | €750,000 | €750,000 | = | 0.0% |
| Amounts receivable | 281 | - | €10,000,000 | +€10.0m | |
| Companies linked by participating interests | 282/3 | €0 | €50 | +€50 | |
| Participating interests | 282 | - | €50 | +€50 | |
| Amounts receivable | 283 | €0 | - | = | |
| Other financial fixed assets | 284/8 | €27,550 | €27,550 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €27,550 | €27,550 | = | 0.0% |
| Current assets | 29/58 | €64,921,562 | €59,567,589 | -€5.4m | -8.2% |
| Stocks and contracts in progress | 3 | €19,265,446 | €16,031,823 | -€3.2m | -16.8% |
| Stocks | 30/36 | €4,306,031 | €3,589,907 | -€716,124 | -16.6% |
| Raw materials and consumables | 30/31 | €4,148,597 | €3,472,411 | -€676,187 | -16.3% |
| Work in progress | 32 | €64,155 | €44,593 | -€19,563 | -30.5% |
| Finished goods | 33 | €92,202 | €71,648 | -€20,554 | -22.3% |
| Goods purchased for resale | 34 | €1,076 | €1,255 | +€179 | +16.7% |
| Contracts in progress | 37 | €14,959,415 | €12,441,916 | -€2.5m | -16.8% |
| Amounts receivable within one year | 40/41 | €35,404,459 | €24,619,921 | -€10.8m | -30.5% |
| Trade receivables | 40 | €27,716,835 | €18,852,891 | -€8.9m | -32.0% |
| Other amounts receivable | 41 | €7,687,624 | €5,767,030 | -€1.9m | -25.0% |
| Current investments | 50/53 | - | €14,750,000 | +€14.8m | |
| Other investments | 51/53 | - | €14,750,000 | +€14.8m | |
| Cash at bank and in hand | 54/58 | €10,158,293 | €4,094,900 | -€6.1m | -59.7% |
| Deferred charges and accrued income | 490/1 | €93,364 | €70,945 | -€22,419 | -24.0% |
| Total equity and liabilities | 10/49 | €73,571,291 | €78,996,430 | +€5.4m | +7.4% |
| Equity | 10/15 | €26,092,431 | €34,585,371 | +€8.5m | +32.5% |
| Contributions | 10/11 | €3,636,920 | €3,636,920 | = | 0.0% |
| Capital | 10 | €3,636,920 | €3,636,920 | = | 0.0% |
| Issued capital | 100 | €3,636,920 | €3,636,920 | = | 0.0% |
| Reserves | 13 | €19,000,000 | €30,000,000 | +€11.0m | +57.9% |
| Non-distributable reserves | 130/1 | €363,692 | €363,692 | = | 0.0% |
| Legal reserve | 130 | €363,692 | €363,692 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,415,501 | €4,074,467 | +€2.7m | +187.8% |
| Distributable reserves | 133 | €17,220,807 | €25,561,841 | +€8.3m | +48.4% |
| Profit (loss) carried forward | 14 | €3,455,511 | €948,451 | -€2.5m | -72.6% |
| Investment grants | 15 | €0 | €0 | -€0 | -100.0% |
| Provisions and deferred taxes | 16 | €1,150,602 | €1,005,721 | -€144,881 | -12.6% |
| Provisions for liabilities and charges | 160/5 | €1,150,602 | €1,005,721 | -€144,881 | -12.6% |
| Other liabilities and charges | 164/5 | €1,150,602 | €1,005,721 | -€144,881 | -12.6% |
| Amounts payable | 17/49 | €46,328,258 | €43,405,337 | -€2.9m | -6.3% |
| Amounts payable after more than one year | 17 | €2,879,933 | €4,782,082 | +€1.9m | +66.0% |
| Financial debts | 170/4 | €2,879,933 | €4,782,082 | +€1.9m | +66.0% |
| Leasing and similar obligations | 172 | €379,933 | €627,198 | +€247,265 | +65.1% |
| Credit institutions | 173 | €2,500,000 | €4,154,884 | +€1.7m | +66.2% |
| Amounts payable within one year | 42/48 | €43,437,741 | €38,590,618 | -€4.8m | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €92,875 | €345,727 | +€252,852 | +272.2% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €20,861,992 | €13,950,970 | -€6.9m | -33.1% |
| Suppliers | 440/4 | €20,861,992 | €13,950,970 | -€6.9m | -33.1% |
| Advances received on contracts in progress | 46 | €12,388,652 | €16,014,958 | +€3.6m | +29.3% |
| Taxes, remuneration and social security | 45 | €8,594,221 | €7,837,187 | -€757,034 | -8.8% |
| Taxes | 450/3 | €77,231 | €23,828 | -€53,403 | -69.1% |
| Remuneration and social security | 454/9 | €8,516,990 | €7,813,359 | -€703,631 | -8.3% |
| Other amounts payable | 47/48 | €1,500,000 | €441,777 | -€1.1m | -70.5% |
| Accrued charges and deferred income | 492/3 | €10,585 | €32,637 | +€22,052 | +208.3% |
| Operating income | 70/76A | €143,433,831 | €106,752,010 | -€36.7m | -25.6% |
| Turnover | 70 | €117,681,340 | €162,291,755 | +€44.6m | +37.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €24,152,475 | -€57,185,439 | -€81.3m | |
| Own construction capitalised | 72 | €30,133 | €103,172 | +€73,039 | +242.4% |
| Other operating income | 74 | €1,569,882 | €1,542,522 | -€27,361 | -1.7% |
| Operating charges | 60/66A | €132,731,853 | €98,332,888 | -€34.4m | -25.9% |
| Goods for resale, raw materials and consumables | 60 | €86,498,233 | €53,380,580 | -€33.1m | -38.3% |
| Purchases | 600/8 | €86,250,407 | €52,771,947 | -€33.5m | -38.8% |
| Change in stocks: decrease (increase) | 609 | €247,826 | €608,633 | +€360,807 | +145.6% |
| Services and other goods | 61 | €15,540,016 | €15,876,206 | +€336,190 | +2.2% |
| Remuneration, social security and pensions | 62 | €31,073,787 | €29,813,934 | -€1.3m | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,594,412 | €1,803,874 | +€209,462 | +13.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,485,907 | -€2,865,514 | -€379,608 | -15.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €511,312 | €323,808 | -€187,503 | -36.7% |
| Operating profit (loss) | 9901 | €10,701,978 | €8,419,121 | -€2.3m | -21.3% |
| Financial income | 75/76B | €442,970 | €2,169,518 | +€1.7m | +389.8% |
| Recurring financial income | 75 | €192,970 | €2,169,518 | +€2.0m | +1024.3% |
| Income from financial fixed assets | 750 | €94,767 | €1,680,963 | +€1.6m | +1673.8% |
| Income from current assets | 751 | €6,986 | €160,339 | +€153,353 | +2195.1% |
| Other financial income | 752/9 | €91,217 | €328,216 | +€236,999 | +259.8% |
| Non-recurring financial income | 76B | €250,000 | €0 | -€250,000 | -100.0% |
| Financial charges | 65/66B | €316,794 | €297,233 | -€19,561 | -6.2% |
| Recurring financial charges | 65 | €303,069 | €297,233 | -€5,836 | -1.9% |
| Debt charges | 650 | €163,301 | €158,342 | -€4,960 | -3.0% |
| Other financial charges | 652/9 | €139,767 | €138,892 | -€876 | -0.6% |
| Non-recurring financial charges | 66B | €13,725 | €0 | -€13,725 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €10,828,155 | €10,291,406 | -€536,748 | -5.0% |
| Income taxes | 67/77 | €2,743,332 | €1,798,466 | -€944,866 | -34.4% |
| Taxes | 670/3 | €2,839,096 | €1,905,107 | -€933,989 | -32.9% |
| Tax adjustments and reversals of tax provisions | 77 | €95,764 | €106,642 | +€10,878 | +11.4% |
| Profit (loss) for the period | 9904 | €8,084,823 | €8,492,941 | +€408,118 | +5.0% |
| Transfer to tax-exempt reserves | 689 | €1,294,529 | €2,658,966 | +€1.4m | +105.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,790,294 | €5,833,975 | -€956,319 | -14.1% |
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 10 October 2026 via checked.be.