CERESIM: 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.
CERESIM
Largest movements
- Tangible fixed assets -€17,445
down €17,445 (-17.8%), from €98,117 to €80,672
- Receivables within one year -€15,373
down €15,373 (-5.2%), from €294,318 to €278,945
of which Other amounts receivable: -€12,348
- Cash +€13,875
up €13,875 (+20.8%), from €66,741 to €80,616
mainly Depreciation (+€17,445) and Receivables within one year (+€15,373)
- Current portion of long-term debt -€13,899
no longer reported in 2025 (was €13,899)
- Gross operating margin -€6,908
down €6,908 (-40.6%), from €17,023 to €10,114
- Financial charges -€482
down €482 (-61.1%), from €789 to €307
- Financial income -€419
down €419 (-10.8%), from €3,862 to €3,443
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 | €907,360 | €886,441 | -€20,919 | -2.3% |
| Fixed assets | 21/28 | €544,325 | €526,880 | -€17,445 | -3.2% |
| Tangible fixed assets | 22/27 | €98,117 | €80,672 | -€17,445 | -17.8% |
| Plant, machinery and equipment | 23 | €98,117 | €80,672 | -€17,445 | -17.8% |
| Financial fixed assets | 28 | €446,208 | €446,208 | = | 0.0% |
| Current assets | 29/58 | €363,035 | €359,561 | -€3,474 | -1.0% |
| Amounts receivable within one year | 40/41 | €294,318 | €278,945 | -€15,373 | -5.2% |
| Trade receivables | 40 | €3,025 | - | -€3,025 | |
| Other amounts receivable | 41 | €291,293 | €278,945 | -€12,348 | -4.2% |
| Cash at bank and in hand | 54/58 | €66,741 | €80,616 | +€13,875 | +20.8% |
| Deferred charges and accrued income | 490/1 | €1,977 | - | -€1,977 | |
| Total equity and liabilities | 10/49 | €907,360 | €886,441 | -€20,919 | -2.3% |
| Equity | 10/15 | €891,634 | €886,441 | -€5,193 | -0.6% |
| Contributions | 10/11 | €18,857 | €18,857 | = | 0.0% |
| Reserves | 13 | €872,777 | €867,584 | -€5,193 | -0.6% |
| Tax-exempt reserves | 132 | €671,172 | €671,172 | = | 0.0% |
| Distributable reserves | 133 | €201,605 | €196,412 | -€5,193 | -2.6% |
| Amounts payable | 17/49 | €15,726 | - | -€15,726 | |
| Amounts payable within one year | 42/48 | €15,726 | - | -€15,726 | |
| Current portion of amounts payable after more than one year | 42 | €13,899 | - | -€13,899 | |
| Taxes, remuneration and social security | 45 | €1,828 | - | -€1,828 | |
| Taxes | 450/3 | €1,828 | - | -€1,828 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,445 | €17,445 | = | 0.0% |
| Other operating charges | 640/8 | €1,014 | €998 | -€15 | -1.5% |
| Gross operating margin | 9900 | €17,023 | €10,114 | -€6,908 | -40.6% |
| Operating profit (loss) | 9901 | -€1,436 | -€8,329 | -€6,893 | -480% |
| Financial income | 75/76B | €3,862 | €3,443 | -€419 | -10.8% |
| Recurring financial income | 75 | €3,862 | €3,443 | -€419 | -10.8% |
| Financial charges | 65/66B | €789 | €307 | -€482 | -61.1% |
| Recurring financial charges | 65 | €789 | €307 | -€482 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €1,637 | -€5,193 | -€6,830 | |
| Income taxes | 67/77 | €149 | - | -€149 | |
| Profit (loss) for the period | 9904 | €1,488 | -€5,193 | -€6,681 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,488 | -€5,193 | -€6,681 |
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.