CERETAX: 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.
CERETAX
Largest movements
- Receivables within one year -€132,287
no longer reported in 2025 (was €132,287)
of which Other amounts receivable: -€110,658
- Financial fixed assets -€61,478
no longer reported in 2025 (was €61,478)
- Profit (loss) carried forward -€192,064
new in 2025: -€192,064
- Financial charges +€188,728
up €188,728 (+52655.5%), from €358 to €189,086
of which Non-recurring financial charges: +€188,992
- Gross operating margin -€2,660
down €2,660, from €1,098 to -€1,562
- Other operating charges +€690
up €690 (+95.2%), from €725 to €1,415
- Depreciation -€215
no longer reported in 2025 (was €215)
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 | €194,489 | €172 | -€194,317 | -99.9% |
| Fixed assets | 21/28 | €61,639 | - | -€61,639 | |
| Tangible fixed assets | 22/27 | €161 | - | -€161 | |
| Plant, machinery and equipment | 23 | €161 | - | -€161 | |
| Financial fixed assets | 28 | €61,478 | - | -€61,478 | |
| Current assets | 29/58 | €132,850 | €172 | -€132,678 | -99.9% |
| Amounts receivable within one year | 40/41 | €132,287 | - | -€132,287 | |
| Trade receivables | 40 | €21,629 | - | -€21,629 | |
| Other amounts receivable | 41 | €110,658 | - | -€110,658 | |
| Cash at bank and in hand | 54/58 | €563 | €172 | -€391 | -69.4% |
| Total equity and liabilities | 10/49 | €194,489 | €172 | -€194,317 | -99.9% |
| Equity | 10/15 | €172,845 | -€19,219 | -€192,064 | |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €48,898 | €48,898 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €36,503 | €36,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€192,064 | -€192,064 | |
| Amounts payable | 17/49 | €21,644 | €19,391 | -€2,253 | -10.4% |
| Amounts payable within one year | 42/48 | €21,644 | €19,391 | -€2,253 | -10.4% |
| Trade debts | 44 | €150 | - | -€150 | |
| Suppliers | 440/4 | €150 | - | -€150 | |
| Taxes, remuneration and social security | 45 | €1,859 | - | -€1,859 | |
| Taxes | 450/3 | €1,859 | - | -€1,859 | |
| Other amounts payable | 47/48 | €19,635 | €19,391 | -€243 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €215 | - | -€215 | |
| Other operating charges | 640/8 | €725 | €1,415 | +€690 | +95.2% |
| Gross operating margin | 9900 | €1,098 | -€1,562 | -€2,660 | |
| Operating profit (loss) | 9901 | €158 | -€2,978 | -€3,135 | |
| Financial charges | 65/66B | €358 | €189,086 | +€188,728 | +52655.5% |
| Recurring financial charges | 65 | €358 | €94 | -€264 | -73.7% |
| Non-recurring financial charges | 66B | - | €188,992 | +€188,992 | |
| Profit (loss) for the period before taxes | 9903 | -€201 | -€192,064 | -€191,863 | -95620.9% |
| Profit (loss) for the period | 9904 | -€201 | -€192,064 | -€191,863 | -95620.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€201 | -€192,064 | -€191,863 | -95620.9% |
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 9 October 2026 via checked.be.