CERECO: 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.
CERECO
Largest movements
- Cash +€32,726
up €32,726 (+35.7%), from €91,655 to €124,381
mainly Tax, wage and social debts (+€34,134) and Debts after one year (+€21,386)
- Tangible fixed assets +€25,196
up €25,196 (+123%), from €20,458 to €45,654
of which Furniture and vehicles: +€27,590
- Receivables within one year +€3,218
up €3,218 (+10.8%), from €29,698 to €32,916
of which Other amounts receivable: +€8,007
- Tax, wage and social debts +€34,134
up €34,134 (+113%), from €30,217 to €64,351
of which Remuneration and social security: +€20,603
- Debts after one year +€21,386
new in 2025: €21,386
- Trade debts +€9,402
up €9,402 (+427%), from €2,200 to €11,602
- Other debts -€7,143
down €7,143 (-38.0%), from €18,798 to €11,655
- Current portion of long-term debt +€6,141
new in 2025: €6,141
- Staff costs +€95,149
new in 2025: €95,149
- Taxes -€17,358
down €17,358 (-93.4%), from €18,580 to €1,222
- Gross operating margin +€12,976
up €12,976 (+12.8%), from €101,503 to €114,479
- Depreciation +€7,496
up €7,496 (+79.8%), from €9,398 to €16,894
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.
Derived cash bridge
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 | €143,013 | €206,354 | +€63,341 | +44.3% |
| Fixed assets | 21/28 | €20,458 | €46,754 | +€26,296 | +129% |
| Tangible fixed assets | 22/27 | €20,458 | €45,654 | +€25,196 | +123% |
| Plant, machinery and equipment | 23 | €5,342 | €2,948 | -€2,394 | -44.8% |
| Furniture and vehicles | 24 | €15,116 | €42,706 | +€27,590 | +183% |
| Financial fixed assets | 28 | - | €1,100 | +€1,100 | |
| Current assets | 29/58 | €122,555 | €159,600 | +€37,045 | +30.2% |
| Amounts receivable within one year | 40/41 | €29,698 | €32,916 | +€3,218 | +10.8% |
| Trade receivables | 40 | €29,698 | €24,909 | -€4,789 | -16.1% |
| Other amounts receivable | 41 | - | €8,007 | +€8,007 | |
| Cash at bank and in hand | 54/58 | €91,655 | €124,381 | +€32,726 | +35.7% |
| Deferred charges and accrued income | 490/1 | €1,202 | €2,303 | +€1,101 | +91.6% |
| Total equity and liabilities | 10/49 | €143,013 | €206,354 | +€63,341 | +44.3% |
| Equity | 10/15 | €91,798 | €91,219 | -€579 | -0.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,798 | €88,219 | -€579 | -0.7% |
| Amounts payable | 17/49 | €51,215 | €115,135 | +€63,920 | +125% |
| Amounts payable after more than one year | 17 | - | €21,386 | +€21,386 | |
| Financial debts | 170/4 | - | €21,386 | +€21,386 | |
| Amounts payable within one year | 42/48 | €51,215 | €93,749 | +€42,534 | +83.0% |
| Current portion of amounts payable after more than one year | 42 | - | €6,141 | +€6,141 | |
| Trade debts | 44 | €2,200 | €11,602 | +€9,402 | +427% |
| Suppliers | 440/4 | €2,200 | €11,602 | +€9,402 | +427% |
| Taxes, remuneration and social security | 45 | €30,217 | €64,351 | +€34,134 | +113% |
| Taxes | 450/3 | €28,417 | €41,948 | +€13,531 | +47.6% |
| Remuneration and social security | 454/9 | €1,800 | €22,403 | +€20,603 | +1,145% |
| Other amounts payable | 47/48 | €18,798 | €11,655 | -€7,143 | -38.0% |
| Remuneration, social security and pensions | 62 | - | €95,149 | +€95,149 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,398 | €16,894 | +€7,496 | +79.8% |
| Gross operating margin | 9900 | €101,503 | €114,479 | +€12,976 | +12.8% |
| Operating profit (loss) | 9901 | €92,105 | €2,436 | -€89,669 | -97.4% |
| Financial charges | 65/66B | €739 | €1,792 | +€1,053 | +142% |
| Recurring financial charges | 65 | €739 | €1,792 | +€1,053 | +142% |
| Profit (loss) for the period before taxes | 9903 | €91,366 | €644 | -€90,722 | -99.3% |
| Income taxes | 67/77 | €18,580 | €1,222 | -€17,358 | -93.4% |
| Profit (loss) for the period | 9904 | €72,786 | -€578 | -€73,364 | |
| Profit (loss) for the period to be appropriated | 9905 | €72,786 | -€578 | -€73,364 |
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 23 October 2026 via checked.be.