CERELO: 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.
CERELO
Largest movements
- Tangible fixed assets -€24,913
down €24,913 (-6.5%), from €383,389 to €358,476
- Profit (loss) carried forward -€13,923
down €13,923 (-3.0%), from €470,142 to €456,219
- Financial income -€77,766
down €77,766 (-87.1%), from €89,326 to €11,560
- Taxes -€20,065
no longer reported in 2025 (was €20,065)
- Gross operating margin +€319
up €319 (+17.9%), from €1,778 to €2,096
- Other operating charges +€251
up €251 (+10.6%), from €2,379 to €2,630
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 | €1,102,333 | €1,089,352 | -€12,980 | -1.2% |
| Fixed assets | 21/28 | €383,389 | €358,476 | -€24,913 | -6.5% |
| Tangible fixed assets | 22/27 | €383,389 | €358,476 | -€24,913 | -6.5% |
| Land and buildings | 22 | €383,389 | €358,476 | -€24,913 | -6.5% |
| Current assets | 29/58 | €718,944 | €730,877 | +€11,933 | +1.7% |
| Amounts receivable within one year | 40/41 | €16,341 | €14,476 | -€1,865 | -11.4% |
| Trade receivables | 40 | - | €12,821 | +€12,821 | |
| Other amounts receivable | 41 | €16,341 | €1,655 | -€14,686 | -89.9% |
| Cash at bank and in hand | 54/58 | €702,017 | €712,493 | +€10,476 | +1.5% |
| Deferred charges and accrued income | 490/1 | €586 | €3,908 | +€3,322 | +567% |
| Total equity and liabilities | 10/49 | €1,102,333 | €1,089,352 | -€12,980 | -1.2% |
| Equity | 10/15 | €652,157 | €637,233 | -€14,925 | -2.3% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €100,949 | €100,949 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Distributable reserves | 133 | €94,649 | €94,649 | = | 0.0% |
| Profit (loss) carried forward | 14 | €470,142 | €456,219 | -€13,923 | -3.0% |
| Investment grants | 15 | €18,067 | €17,065 | -€1,002 | -5.5% |
| Amounts payable | 17/49 | €450,175 | €452,120 | +€1,944 | +0.4% |
| Amounts payable within one year | 42/48 | €450,175 | €452,120 | +€1,944 | +0.4% |
| Trade debts | 44 | €175 | €2,120 | +€1,944 | +1,108% |
| Suppliers | 440/4 | €175 | €2,120 | +€1,944 | +1,108% |
| Other amounts payable | 47/48 | €450,000 | €450,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,913 | €24,913 | = | 0.0% |
| Other operating charges | 640/8 | €2,379 | €2,630 | +€251 | +10.6% |
| Gross operating margin | 9900 | €1,778 | €2,096 | +€319 | +17.9% |
| Operating profit (loss) | 9901 | -€25,514 | -€25,447 | +€67 | +0.3% |
| Financial income | 75/76B | €89,326 | €11,560 | -€77,766 | -87.1% |
| Recurring financial income | 75 | €89,326 | €11,560 | -€77,766 | -87.1% |
| Financial charges | 65/66B | €36 | €36 | = | 0.0% |
| Recurring financial charges | 65 | €36 | €36 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €63,776 | -€13,923 | -€77,699 | |
| Income taxes | 67/77 | €20,065 | - | -€20,065 | |
| Profit (loss) for the period | 9904 | €43,711 | -€13,923 | -€57,634 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,711 | -€13,923 | -€57,634 |
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 14 October 2026 via checked.be.