CERES CONSULT: 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.
What changed
CERES CONSULT
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€30,095
2024 · -€11,083-€19,012
Equity
€723,120
2024 · €753,215-€30,095
Cash
€37,175
2024 · €29,577+€7,599
Balance sheet total
€2.0m
2024 · €1.9m+€66,807
Largest movements
Assets
- Tangible fixed assets +€64,951
up €64,951 (+4.1%), from €1.6m to €1.7m
of which Land and buildings: +€546,610
Equity and liabilities
- Other debts +€76,465
up €76,465 (+27.1%), from €281,736 to €358,201
- Debts after one year +€32,425
up €32,425 (+5.0%), from €649,000 to €681,425
Income statement
- Depreciation +€56,454
up €56,454 (+187.1%), from €30,177 to €86,631
- Gross operating margin +€35,743
up €35,743 (+216.5%), from €16,510 to €52,253
- Financial charges +€3,856
up €3,856 (+90.6%), from €4,257 to €8,113
- Financial income +€2,836
up €2,836 (+33.7%), from €8,414 to €11,250
- Other operating charges +€2,593
up €2,593 (+164.0%), from €1,581 to €4,174
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.
Result 2024
-€11,083
Gross operating margin
+€35,743
Depreciation
-€56,454
Other operating charges
-€2,593
Financial income
+€2,836
Financial charges
-€3,856
Deferred taxes and other
+€5,312
Result 2025
-€30,095
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.
From operations
+€117,447
Investment
-€149,773
Financing
+€39,925
Cash 2024
€29,577
From operations (derived)
+€117,447
Net result for the year
-€30,095
Depreciation
+€86,631
Receivables within one year
+€4,750
Deferred charges and accrued income
-€816
Provisions
-€5,321
Trade debts
-€10,648
Tax, wage and social debts
-€4,664
Other debts
+€76,465
Accrued charges and deferred income
+€1,145
Investment (derived)
-€149,773
Investment in fixed assets (net)
-€149,773
Financing
+€39,925
Debts after one year
+€32,425
Current portion of long-term debt
+€7,500
Cash 2025
€37,175
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,897,756 | €1,964,562 | +€66,807 | +3.5% |
| Formation expenses | 20 | €8,717 | €6,891 | -€1,826 | -20.9% |
| Fixed assets | 21/28 | €1,590,633 | €1,655,601 | +€64,968 | +4.1% |
| Tangible fixed assets | 22/27 | €1,590,633 | €1,655,584 | +€64,951 | +4.1% |
| Land and buildings | 22 | €1,085,785 | €1,632,395 | +€546,610 | +50.3% |
| Furniture and vehicles | 24 | €29,187 | €23,189 | -€5,998 | -20.6% |
| Assets under construction and advance payments | 27 | €475,661 | - | -€475,661 | |
| Financial fixed assets | 28 | - | €17 | +€17 | |
| Current assets | 29/58 | €298,406 | €302,070 | +€3,665 | +1.2% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,750 | - | -€4,750 | |
| Trade receivables | 40 | €4,750 | - | -€4,750 | |
| Cash at bank and in hand | 54/58 | €29,577 | €37,175 | +€7,599 | +25.7% |
| Deferred charges and accrued income | 490/1 | €14,079 | €14,895 | +€816 | +5.8% |
| Total equity and liabilities | 10/49 | €1,897,756 | €1,964,562 | +€66,807 | +3.5% |
| Equity | 10/15 | €753,215 | €723,120 | -€30,095 | -4.0% |
| Contributions | 10/11 | €226,181 | €226,181 | = | 0.0% |
| Reserves | 13 | €498,898 | €482,936 | -€15,962 | -3.2% |
| Tax-exempt reserves | 132 | €491,701 | €475,739 | -€15,962 | -3.2% |
| Distributable reserves | 133 | €7,197 | €7,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,136 | €14,003 | -€14,133 | -50.2% |
| Provisions and deferred taxes | 16 | €163,900 | €158,580 | -€5,321 | -3.2% |
| Deferred taxes | 168 | €163,900 | €158,580 | -€5,321 | -3.2% |
| Amounts payable | 17/49 | €980,640 | €1,082,863 | +€102,223 | +10.4% |
| Amounts payable after more than one year | 17 | €649,000 | €681,425 | +€32,425 | +5.0% |
| Financial debts | 170/4 | €649,000 | €681,425 | +€32,425 | +5.0% |
| Amounts payable within one year | 42/48 | €330,140 | €398,793 | +€68,653 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €28,200 | €35,700 | +€7,500 | +26.6% |
| Trade debts | 44 | €15,540 | €4,891 | -€10,648 | -68.5% |
| Suppliers | 440/4 | €15,540 | €4,891 | -€10,648 | -68.5% |
| Taxes, remuneration and social security | 45 | €4,664 | - | -€4,664 | |
| Taxes | 450/3 | €4,664 | - | -€4,664 | |
| Other amounts payable | 47/48 | €281,736 | €358,201 | +€76,465 | +27.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €2,645 | +€1,145 | +76.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,177 | €86,631 | +€56,454 | +187.1% |
| Other operating charges | 640/8 | €1,581 | €4,174 | +€2,593 | +164.0% |
| Gross operating margin | 9900 | €16,510 | €52,253 | +€35,743 | +216.5% |
| Operating profit (loss) | 9901 | -€15,249 | -€38,552 | -€23,304 | -152.8% |
| Financial income | 75/76B | €8,414 | €11,250 | +€2,836 | +33.7% |
| Recurring financial income | 75 | €8,414 | €11,250 | +€2,836 | +33.7% |
| Financial charges | 65/66B | €4,257 | €8,113 | +€3,856 | +90.6% |
| Recurring financial charges | 65 | €4,257 | €8,113 | +€3,856 | +90.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,091 | -€35,416 | -€24,325 | -219.3% |
| Transfer from deferred taxes | 780 | €8 | €5,321 | +€5,312 | +63017.1% |
| Profit (loss) for the period | 9904 | -€11,083 | -€30,095 | -€19,012 | -171.6% |
| Transfer from tax-exempt reserves | 789 | €25 | €15,962 | +€15,937 | +63042.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,057 | -€14,133 | -€3,075 | -27.8% |
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 6 October 2026 via checked.be.