CEREOD: 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.
CEREOD
Largest movements
- Tangible fixed assets +€190,005
up €190,005 (+87.3%), from €217,589 to €407,595
of which Land and buildings: +€182,907
- Cash +€12,771
up €12,771 (+50.3%), from €25,411 to €38,182
mainly Debts after one year (+€172,811) and Net result for the year (+€29,875)
- Debts after one year +€172,811
up €172,811 (+91.6%), from €188,669 to €361,480
- Reserves +€29,875
up €29,875 (+172.3%), from €17,337 to €47,211
- Other debts -€14,194
down €14,194 (-88.3%), from €16,084 to €1,889
- Current portion of long-term debt +€7,359
up €7,359 (+115.8%), from €6,355 to €13,714
- Tax, wage and social debts +€5,476
up €5,476 (+35.6%), from €15,384 to €20,860
- Gross operating margin +€13,137
up €13,137 (+25.2%), from €52,134 to €65,271
- Depreciation -€8,794
down €8,794 (-54.0%), from €16,284 to €7,489
- Taxes +€7,419
up €7,419 (+130.3%), from €5,692 to €13,110
- Financial charges +€4,933
up €4,933 (+46.5%), from €10,608 to €15,541
- Other operating charges -€1,579
down €1,579 (-71.3%), from €2,214 to €635
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 | €262,124 | €464,147 | +€202,023 | +77.1% |
| Fixed assets | 21/28 | €217,589 | €407,595 | +€190,005 | +87.3% |
| Tangible fixed assets | 22/27 | €217,589 | €407,595 | +€190,005 | +87.3% |
| Land and buildings | 22 | €216,911 | €399,818 | +€182,907 | +84.3% |
| Furniture and vehicles | 24 | €679 | €327 | -€352 | -51.8% |
| Other tangible fixed assets | 26 | - | €7,450 | +€7,450 | |
| Current assets | 29/58 | €44,535 | €56,552 | +€12,017 | +27.0% |
| Amounts receivable within one year | 40/41 | €17,589 | €16,999 | -€591 | -3.4% |
| Trade receivables | 40 | €17,555 | €16,999 | -€556 | -3.2% |
| Other amounts receivable | 41 | €35 | - | -€35 | |
| Cash at bank and in hand | 54/58 | €25,411 | €38,182 | +€12,771 | +50.3% |
| Deferred charges and accrued income | 490/1 | €1,535 | €1,371 | -€163 | -10.6% |
| Total equity and liabilities | 10/49 | €262,124 | €464,147 | +€202,023 | +77.1% |
| Equity | 10/15 | €22,337 | €52,211 | +€29,875 | +133.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,337 | €47,211 | +€29,875 | +172.3% |
| Distributable reserves | 133 | €17,337 | €47,211 | +€29,875 | +172.3% |
| Amounts payable | 17/49 | €239,787 | €411,935 | +€172,148 | +71.8% |
| Amounts payable after more than one year | 17 | €188,669 | €361,480 | +€172,811 | +91.6% |
| Financial debts | 170/4 | €188,669 | €361,480 | +€172,811 | +91.6% |
| Amounts payable within one year | 42/48 | €49,669 | €48,516 | -€1,153 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €6,355 | €13,714 | +€7,359 | +115.8% |
| Trade debts | 44 | €11,846 | €12,052 | +€206 | +1.7% |
| Suppliers | 440/4 | €11,846 | €12,052 | +€206 | +1.7% |
| Taxes, remuneration and social security | 45 | €15,384 | €20,860 | +€5,476 | +35.6% |
| Taxes | 450/3 | €15,384 | €20,860 | +€5,476 | +35.6% |
| Other amounts payable | 47/48 | €16,084 | €1,889 | -€14,194 | -88.3% |
| Accrued charges and deferred income | 492/3 | €1,450 | €1,939 | +€489 | +33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,284 | €7,489 | -€8,794 | -54.0% |
| Other operating charges | 640/8 | €2,214 | €635 | -€1,579 | -71.3% |
| Gross operating margin | 9900 | €52,134 | €65,271 | +€13,137 | +25.2% |
| Operating profit (loss) | 9901 | €33,637 | €57,147 | +€23,510 | +69.9% |
| Financial income | 75/76B | - | €1,379 | +€1,379 | |
| Recurring financial income | 75 | - | €1,379 | +€1,379 | |
| Financial charges | 65/66B | €10,608 | €15,541 | +€4,933 | +46.5% |
| Recurring financial charges | 65 | €10,608 | €15,541 | +€4,933 | +46.5% |
| Profit (loss) for the period before taxes | 9903 | €23,029 | €42,985 | +€19,957 | +86.7% |
| Income taxes | 67/77 | €5,692 | €13,110 | +€7,419 | +130.3% |
| Profit (loss) for the period | 9904 | €17,337 | €29,875 | +€12,538 | +72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,337 | €29,875 | +€12,538 | +72.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.