CERESCOR: 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.
CERESCOR
Largest movements
- Cash -€30,176
down €30,176 (-39.0%), from €77,322 to €47,145
mainly Other debts (-€439,183) and Tax, wage and social debts (-€20,249)
- Other debts -€439,183
down €439,183 (-93.7%), from €468,682 to €29,498
- Provisions +€364,843
up €364,843 (+44.5%), from €820,646 to €1.2m
- Reserves +€72,597
up €72,597 (+14.6%), from €497,785 to €570,381
of which Distributable reserves: +€72,597
- Tax, wage and social debts -€20,249
down €20,249 (-59.0%), from €34,330 to €14,081
of which Taxes: -€16,855
- Financial charges +€27,438
up €27,438 (+42.1%), from €65,218 to €92,656
- Depreciation -€15,391
down €15,391 (-82.2%), from €18,724 to €3,333
- Taxes -€13,337
down €13,337 (-39.6%), from €33,675 to €20,337
- Gross operating margin -€2,026
down €2,026 (-1.1%), from €183,121 to €181,095
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 | €1,884,478 | €1,861,920 | -€22,558 | -1.2% |
| Fixed assets | 21/28 | €1,757,698 | €1,758,865 | +€1,167 | +0.1% |
| Tangible fixed assets | 22/27 | €18,898 | €20,065 | +€1,167 | +6.2% |
| Land and buildings | 22 | €1,565 | - | -€1,565 | |
| Furniture and vehicles | 24 | €17,333 | €20,065 | +€2,733 | +15.8% |
| Financial fixed assets | 28 | €1,738,800 | €1,738,800 | = | 0.0% |
| Current assets | 29/58 | €126,780 | €103,054 | -€23,725 | -18.7% |
| Amounts receivable within one year | 40/41 | €46,083 | €51,825 | +€5,742 | +12.5% |
| Trade receivables | 40 | €46,083 | €42,160 | -€3,923 | -8.5% |
| Other amounts receivable | 41 | - | €9,664 | +€9,664 | |
| Current investments | 50/53 | €526 | €526 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €77,322 | €47,145 | -€30,176 | -39.0% |
| Deferred charges and accrued income | 490/1 | €2,849 | €3,559 | +€709 | +24.9% |
| Total equity and liabilities | 10/49 | €1,884,478 | €1,861,920 | -€22,558 | -1.2% |
| Equity | 10/15 | €559,758 | €632,355 | +€72,597 | +13.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €497,785 | €570,381 | +€72,597 | +14.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €491,587 | €564,184 | +€72,597 | +14.8% |
| Provisions and deferred taxes | 16 | €820,646 | €1,185,489 | +€364,843 | +44.5% |
| Provisions for liabilities and charges | 160/5 | €820,646 | €1,185,489 | +€364,843 | +44.5% |
| Other liabilities and charges | 164/5 | €820,646 | €1,185,489 | +€364,843 | +44.5% |
| Amounts payable | 17/49 | €504,074 | €44,076 | -€459,998 | -91.3% |
| Amounts payable within one year | 42/48 | €503,063 | €43,801 | -€459,262 | -91.3% |
| Trade debts | 44 | €51 | €222 | +€170 | +332.0% |
| Suppliers | 440/4 | €51 | €222 | +€170 | +332.0% |
| Taxes, remuneration and social security | 45 | €34,330 | €14,081 | -€20,249 | -59.0% |
| Taxes | 450/3 | €30,937 | €14,081 | -€16,855 | -54.5% |
| Remuneration and social security | 454/9 | €3,393 | - | -€3,393 | |
| Other amounts payable | 47/48 | €468,682 | €29,498 | -€439,183 | -93.7% |
| Accrued charges and deferred income | 492/3 | €1,011 | €275 | -€736 | -72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,724 | €3,333 | -€15,391 | -82.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€9,988 | -€10,157 | -€169 | -1.7% |
| Other operating charges | 640/8 | €1,201 | €2,337 | +€1,136 | +94.6% |
| Gross operating margin | 9900 | €183,121 | €181,095 | -€2,026 | -1.1% |
| Operating profit (loss) | 9901 | €173,184 | €185,582 | +€12,398 | +7.2% |
| Financial income | 75/76B | €1,049 | €8 | -€1,041 | -99.2% |
| Recurring financial income | 75 | €1,049 | €8 | -€1,041 | -99.2% |
| Financial charges | 65/66B | €65,218 | €92,656 | +€27,438 | +42.1% |
| Recurring financial charges | 65 | €65,218 | €92,656 | +€27,438 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €109,015 | €92,934 | -€16,081 | -14.8% |
| Income taxes | 67/77 | €33,675 | €20,337 | -€13,337 | -39.6% |
| Profit (loss) for the period | 9904 | €75,341 | €72,597 | -€2,744 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,341 | €72,597 | -€2,744 | -3.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.