CERCIS: what changed
Two fiscal 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.
CERCIS
Largest movements
- Current investments -€354,401
down €354,401 (-62.2%), from €570,000 to €215,599
- Stocks and contracts -€272,014
down €272,014 (-28.2%), from €965,885 to €693,870
- Cash +€81,237
up €81,237 (+91.1%), from €89,221 to €170,458
mainly Current investments (+€354,401) and Stocks and contracts (+€272,014)
- Tangible fixed assets -€46,948
down €46,948 (-10.0%), from €469,712 to €422,764
of which Land and buildings: -€40,451
- Receivables within one year -€37,314
down €37,314 (-2.6%), from €1.4m to €1.4m
of which Trade receivables: -€48,321
- Advances received -€366,561
down €366,561 (-28.7%), from €1.3m to €912,035
- Debts after one year -€162,661
down €162,661 (-43.9%), from €370,845 to €208,184
- Current portion of long-term debt -€122,758
down €122,758 (-66.2%), from €185,419 to €62,661
- Other debts +€100,110
up €100,110 (+232.4%), from €43,073 to €143,183
- Tax, wage and social debts -€73,947
down €73,947 (-81.4%), from €90,864 to €16,916
of which Taxes: -€71,291
- Financial income -€500,241
down €500,241 (-95.5%), from €523,600 to €23,359
- Taxes -€45,389
down €45,389 (-37.3%), from €121,581 to €76,192
- Staff costs +€17,447
up €17,447 (+215.1%), from €8,110 to €25,557
- Financial charges -€14,039
down €14,039 (-53.5%), from €26,264 to €12,225
- Gross operating margin +€5,100
up €5,100 (+1.8%), from €289,449 to €294,549
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 | €3,595,838 | €2,992,238 | -€603,601 | -16.8% |
| Fixed assets | 21/28 | €530,472 | €483,524 | -€46,948 | -8.9% |
| Tangible fixed assets | 22/27 | €469,712 | €422,764 | -€46,948 | -10.0% |
| Land and buildings | 22 | €443,516 | €403,066 | -€40,451 | -9.1% |
| Plant, machinery and equipment | 23 | €3,697 | €3,812 | +€115 | +3.1% |
| Furniture and vehicles | 24 | €22,499 | €15,887 | -€6,612 | -29.4% |
| Financial fixed assets | 28 | €60,760 | €60,760 | = | 0.0% |
| Current assets | 29/58 | €3,065,366 | €2,508,714 | -€556,653 | -18.2% |
| Stocks and contracts in progress | 3 | €965,885 | €693,870 | -€272,014 | -28.2% |
| Contracts in progress | 37 | €965,885 | €693,870 | -€272,014 | -28.2% |
| Amounts receivable within one year | 40/41 | €1,430,860 | €1,393,547 | -€37,314 | -2.6% |
| Trade receivables | 40 | €122,153 | €73,832 | -€48,321 | -39.6% |
| Other amounts receivable | 41 | €1,308,708 | €1,319,715 | +€11,007 | +0.8% |
| Current investments | 50/53 | €570,000 | €215,599 | -€354,401 | -62.2% |
| Cash at bank and in hand | 54/58 | €89,221 | €170,458 | +€81,237 | +91.1% |
| Deferred charges and accrued income | 490/1 | €9,400 | €35,240 | +€25,840 | +274.9% |
| Total equity and liabilities | 10/49 | €3,595,838 | €2,992,238 | -€603,601 | -16.8% |
| Equity | 10/15 | €1,497,481 | €1,534,083 | +€36,602 | +2.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,430,750 | €1,467,350 | +€36,600 | +2.6% |
| Non-distributable reserves | 130/1 | €17,750 | €17,750 | = | 0.0% |
| Legal reserve | 130 | €17,750 | €17,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,257 | €5,257 | = | 0.0% |
| Distributable reserves | 133 | €1,407,743 | €1,444,343 | +€36,600 | +2.6% |
| Profit (loss) carried forward | 14 | €4,731 | €4,733 | +€2 | 0.0% |
| Amounts payable | 17/49 | €2,098,357 | €1,458,155 | -€640,202 | -30.5% |
| Amounts payable after more than one year | 17 | €370,845 | €208,184 | -€162,661 | -43.9% |
| Financial debts | 170/4 | €370,845 | €208,184 | -€162,661 | -43.9% |
| Amounts payable within one year | 42/48 | €1,685,012 | €1,207,470 | -€477,542 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €185,419 | €62,661 | -€122,758 | -66.2% |
| Financial debts | 43 | €69 | €232 | +€163 | +233.9% |
| Credit institutions | 430/8 | €69 | €232 | +€163 | +233.9% |
| Trade debts | 44 | €86,991 | €72,443 | -€14,548 | -16.7% |
| Suppliers | 440/4 | €86,991 | €72,443 | -€14,548 | -16.7% |
| Advances received on contracts in progress | 46 | €1,278,596 | €912,035 | -€366,561 | -28.7% |
| Taxes, remuneration and social security | 45 | €90,864 | €16,916 | -€73,947 | -81.4% |
| Taxes | 450/3 | €87,597 | €16,306 | -€71,291 | -81.4% |
| Remuneration and social security | 454/9 | €3,267 | €611 | -€2,656 | -81.3% |
| Other amounts payable | 47/48 | €43,073 | €143,183 | +€100,110 | +232.4% |
| Accrued charges and deferred income | 492/3 | €42,500 | €42,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €8,110 | €25,557 | +€17,447 | +215.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,509 | €49,393 | -€116 | -0.2% |
| Other operating charges | 640/8 | €9,054 | €12,939 | +€3,885 | +42.9% |
| Gross operating margin | 9900 | €289,449 | €294,549 | +€5,100 | +1.8% |
| Operating profit (loss) | 9901 | €222,776 | €206,660 | -€16,116 | -7.2% |
| Financial income | 75/76B | €523,600 | €23,359 | -€500,241 | -95.5% |
| Recurring financial income | 75 | €523,600 | €23,359 | -€500,241 | -95.5% |
| Financial charges | 65/66B | €26,264 | €12,225 | -€14,039 | -53.5% |
| Recurring financial charges | 65 | €26,264 | €12,225 | -€14,039 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | €720,113 | €217,794 | -€502,319 | -69.8% |
| Income taxes | 67/77 | €121,581 | €76,192 | -€45,389 | -37.3% |
| Profit (loss) for the period | 9904 | €598,532 | €141,602 | -€456,930 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €598,532 | €141,602 | -€456,930 | -76.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.