CERETAX: 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.
CERETAX
Largest movements
- Tangible fixed assets -€73,141
down €73,141 (-32.9%), from €222,572 to €149,430
of which Furniture and vehicles: -€70,354
- Cash +€6,014
up €6,014 (+22.6%), from €26,629 to €32,643
mainly Depreciation (+€60,263) and Net result for the year (+€18,675)
- Debts after one year -€35,915
down €35,915 (-70.6%), from €50,863 to €14,949
- Current portion of long-term debt -€25,114
down €25,114 (-40.3%), from €62,321 to €37,207
- Reserves +€18,675
up €18,675 (+23.1%), from €80,976 to €99,651
of which Distributable reserves: +€18,675
- Other debts -€9,658
down €9,658 (-31.1%), from €31,084 to €21,425
- Tax, wage and social debts -€9,548
down €9,548 (-40.5%), from €23,588 to €14,040
of which Taxes: -€8,859
- Gross operating margin -€24,629
down €24,629 (-10.2%), from €242,502 to €217,874
- Depreciation -€10,779
down €10,779 (-15.2%), from €71,043 to €60,263
- Staff costs -€8,940
down €8,940 (-7.3%), from €121,798 to €112,858
- Other operating charges -€6,840
down €6,840 (-37.9%), from €18,055 to €11,215
- Taxes -€3,234
down €3,234 (-28.9%), from €11,206 to €7,973
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 | €280,095 | €212,484 | -€67,611 | -24.1% |
| Fixed assets | 21/28 | €223,077 | €149,935 | -€73,141 | -32.8% |
| Tangible fixed assets | 22/27 | €222,572 | €149,430 | -€73,141 | -32.9% |
| Land and buildings | 22 | €738 | €399 | -€339 | -46.0% |
| Plant, machinery and equipment | 23 | €7,762 | €5,315 | -€2,448 | -31.5% |
| Furniture and vehicles | 24 | €214,071 | €143,717 | -€70,354 | -32.9% |
| Financial fixed assets | 28 | €505 | €505 | = | 0.0% |
| Current assets | 29/58 | €57,018 | €62,549 | +€5,531 | +9.7% |
| Amounts receivable within one year | 40/41 | €30,390 | €28,361 | -€2,029 | -6.7% |
| Trade receivables | 40 | €26,183 | €17,426 | -€8,757 | -33.4% |
| Other amounts receivable | 41 | €4,206 | €10,934 | +€6,728 | +160.0% |
| Cash at bank and in hand | 54/58 | €26,629 | €32,643 | +€6,014 | +22.6% |
| Deferred charges and accrued income | 490/1 | - | €1,545 | +€1,545 | |
| Total equity and liabilities | 10/49 | €280,095 | €212,484 | -€67,611 | -24.1% |
| Equity | 10/15 | €99,576 | €118,251 | +€18,675 | +18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,976 | €99,651 | +€18,675 | +23.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €79,116 | €97,791 | +€18,675 | +23.6% |
| Amounts payable | 17/49 | €180,519 | €94,234 | -€86,285 | -47.8% |
| Amounts payable after more than one year | 17 | €50,863 | €14,949 | -€35,915 | -70.6% |
| Financial debts | 170/4 | €50,863 | €14,949 | -€35,915 | -70.6% |
| Amounts payable within one year | 42/48 | €129,080 | €79,285 | -€49,795 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €62,321 | €37,207 | -€25,114 | -40.3% |
| Trade debts | 44 | €12,087 | €6,613 | -€5,474 | -45.3% |
| Suppliers | 440/4 | €12,087 | €6,613 | -€5,474 | -45.3% |
| Taxes, remuneration and social security | 45 | €23,588 | €14,040 | -€9,548 | -40.5% |
| Taxes | 450/3 | €9,431 | €572 | -€8,859 | -93.9% |
| Remuneration and social security | 454/9 | €14,157 | €13,468 | -€689 | -4.9% |
| Other amounts payable | 47/48 | €31,084 | €21,425 | -€9,658 | -31.1% |
| Accrued charges and deferred income | 492/3 | €576 | €0 | -€576 | -100.0% |
| Remuneration, social security and pensions | 62 | €121,798 | €112,858 | -€8,940 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,043 | €60,263 | -€10,779 | -15.2% |
| Other operating charges | 640/8 | €18,055 | €11,215 | -€6,840 | -37.9% |
| Non-recurring operating charges | 66A | €2,647 | €1,896 | -€751 | -28.4% |
| Gross operating margin | 9900 | €242,502 | €217,874 | -€24,629 | -10.2% |
| Operating profit (loss) | 9901 | €28,960 | €31,642 | +€2,682 | +9.3% |
| Financial income | 75/76B | €25 | €1 | -€24 | -96.6% |
| Recurring financial income | 75 | €25 | €1 | -€24 | -96.6% |
| Financial charges | 65/66B | €6,125 | €4,995 | -€1,130 | -18.4% |
| Recurring financial charges | 65 | €6,125 | €4,995 | -€1,130 | -18.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €22,861 | €26,648 | +€3,787 | +16.6% |
| Income taxes | 67/77 | €11,206 | €7,973 | -€3,234 | -28.9% |
| Profit (loss) for the period | 9904 | €11,654 | €18,675 | +€7,021 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,654 | €18,675 | +€7,021 | +60.2% |
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 5 October 2026 via checked.be.