CERAVA: what changed
What changed
CERAVA
filed annual accounts (NBB)
Net result for the year
€241,094
2024 · €36,677+€204,417
Equity
€5.8m
2024 · €5.5m+€241,094
Cash
€94,260
2024 · €64,049+€30,211
Balance sheet total
€10.9m
2024 · €8.2m+€2.7m
Largest movements
Assets
- Receivables within one year +€1.7m
up €1.7m (+114%), from €1.5m to €3.1m
- Current investments +€1.2m
up €1.2m (+23.6%), from €4.9m to €6.1m
- Tangible fixed assets -€141,459
down €141,459 (-8.2%), from €1.7m to €1.6m
of which Land and buildings: -€115,000
Equity and liabilities
- Other debts +€1.6m
up €1.6m (+66.2%), from €2.5m to €4.1m
- Current portion of long-term debt +€767,274
up €767,274 (+495%), from €154,966 to €922,240
- Reserves +€241,094
up €241,094 (+6.2%), from €3.9m to €4.2m
of which Distributable reserves: +€270,165
Income statement
- Financial income +€509,693
up €509,693 (+204%), from €249,246 to €758,939
- Financial charges +€238,582
up €238,582, from -€18,689 to €219,893
- Taxes +€116,447
up €116,447 (+1,703%), from €6,839 to €123,286
- Purchases and services +€52,252
new in 2025: €52,252
- Gross operating margin +€38,726
up €38,726 (+65.5%), from -€59,137 to -€20,412
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€36,677
Gross operating margin
+€38,726
Staff costs
+€7,617
Depreciation
-€1,600
Other operating charges
+€5,010
Financial income
+€509,693
Financial charges
-€238,582
Taxes
-€116,447
Result 2025
€241,094
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€426,395
Investment
-€1.2m
Financing
+€767,274
Cash 2024
€64,049
From operations (derived)
+€426,395
Net result for the year
+€241,094
Depreciation
+€141,459
Receivables within one year
-€1.7m
Trade debts
+€285
Tax, wage and social debts
+€63,821
Other debts
+€1.6m
Investment (derived)
-€1.2m
Current investments
-€1.2m
Financing
+€767,274
Current portion of long-term debt
+€767,274
Cash 2025
€94,260
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,182,063 | €10,892,821 | +€2.7m | +33.1% |
| Fixed assets | 21/28 | €1,718,386 | €1,576,927 | -€141,459 | -8.2% |
| Tangible fixed assets | 22/27 | €1,718,386 | €1,576,927 | -€141,459 | -8.2% |
| Land and buildings | 22 | €1,689,000 | €1,574,000 | -€115,000 | -6.8% |
| Plant, machinery and equipment | 23 | €29,386 | €2,927 | -€26,459 | -90.0% |
| Current assets | 29/58 | €6,463,677 | €9,315,893 | +€2.9m | +44.1% |
| Amounts receivable within one year | 40/41 | €1,460,776 | €3,119,323 | +€1.7m | +114% |
| Other amounts receivable | 41 | €1,460,776 | €3,119,323 | +€1.7m | +114% |
| Current investments | 50/53 | €4,938,851 | €6,102,310 | +€1.2m | +23.6% |
| Cash at bank and in hand | 54/58 | €64,049 | €94,260 | +€30,211 | +47.2% |
| Total equity and liabilities | 10/49 | €8,182,063 | €10,892,821 | +€2.7m | +33.1% |
| Equity | 10/15 | €5,544,634 | €5,785,728 | +€241,094 | +4.3% |
| Contributions | 10/11 | €1,628,492 | €1,628,492 | = | 0.0% |
| Reserves | 13 | €3,916,142 | €4,157,236 | +€241,094 | +6.2% |
| Tax-exempt reserves | 132 | €637,248 | €608,177 | -€29,071 | -4.6% |
| Distributable reserves | 133 | €3,278,894 | €3,549,059 | +€270,165 | +8.2% |
| Amounts payable | 17/49 | €2,637,429 | €5,107,092 | +€2.5m | +93.6% |
| Amounts payable within one year | 42/48 | €2,637,429 | €5,107,092 | +€2.5m | +93.6% |
| Current portion of amounts payable after more than one year | 42 | €154,966 | €922,240 | +€767,274 | +495% |
| Trade debts | 44 | €1,451 | €1,736 | +€285 | +19.7% |
| Suppliers | 440/4 | €1,451 | €1,736 | +€285 | +19.7% |
| Taxes, remuneration and social security | 45 | €5,246 | €69,068 | +€63,821 | +1,216% |
| Taxes | 450/3 | €0 | €64,451 | +€64,451 | |
| Remuneration and social security | 454/9 | €5,246 | €4,617 | -€630 | -12.0% |
| Other amounts payable | 47/48 | €2,475,766 | €4,114,049 | +€1.6m | +66.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | - | €31,105 | +€31,105 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €52,252 | +€52,252 | |
| Remuneration, social security and pensions | 62 | €12,587 | €4,970 | -€7,617 | -60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,859 | €141,459 | +€1,600 | +1.1% |
| Other operating charges | 640/8 | €12,835 | €7,825 | -€5,010 | -39.0% |
| Gross operating margin | 9900 | -€59,137 | -€20,412 | +€38,726 | +65.5% |
| Operating profit (loss) | 9901 | -€224,419 | -€174,666 | +€49,753 | +22.2% |
| Financial income | 75/76B | €249,246 | €758,939 | +€509,693 | +204% |
| Recurring financial income | 75 | €249,246 | €758,939 | +€509,693 | +204% |
| Financial charges | 65/66B | -€18,689 | €219,893 | +€238,582 | |
| Recurring financial charges | 65 | -€18,689 | €219,893 | +€238,582 | |
| Profit (loss) for the period before taxes | 9903 | €43,516 | €364,380 | +€320,864 | +737% |
| Income taxes | 67/77 | €6,839 | €123,286 | +€116,447 | +1,703% |
| Profit (loss) for the period | 9904 | €36,677 | €241,094 | +€204,417 | +557% |
| Transfer from tax-exempt reserves | 789 | €29,071 | €29,071 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,748 | €270,165 | +€204,417 | +311% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.