CERGELIS: 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.
What changed
CERGELIS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€177,586
2024 · €160,950+€16,636
Equity
€4.8m
2024 · €4.7m+€177,586
Cash
€454,711
2024 · €460,040-€5,329
Balance sheet total
€7.7m
2024 · €7.9m-€206,991
Largest movements
Assets
- Tangible fixed assets -€152,447
down €152,447 (-8.1%), from €1.9m to €1.7m
Equity and liabilities
- Debts after one year -€289,101
down €289,101 (-10.7%), from €2.7m to €2.4m
of which Financial debts: -€290,571
- Reserves +€177,586
up €177,586 (+10.4%), from €1.7m to €1.9m
of which Distributable reserves: +€177,586
- Current portion of long-term debt -€87,264
down €87,264 (-22.1%), from €395,188 to €307,925
Income statement
- Gross operating margin +€20,880
up €20,880 (+5.0%), from €419,591 to €440,471
- Taxes +€5,485
up €5,485 (+10.2%), from €53,800 to €59,285
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
€160,950
Gross operating margin
+€20,880
Staff costs
+€227
Depreciation
+€0
Other operating charges
-€98
Financial income
+€32
Financial charges
+€1,080
Taxes
-€5,485
Result 2025
€177,586
raises the resultlowers the result
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.
From operations
+€371,035
Investment
€0
Financing
-€376,364
Cash 2024
€460,040
From operations (derived)
+€371,035
Net result for the year
+€177,586
Depreciation
+€152,447
Receivables within one year
+€51,520
Deferred charges and accrued income
-€2,305
Trade debts
+€1,444
Tax, wage and social debts
+€7,058
Advances received
-€15,449
Other debts
-€1,295
Accrued charges and deferred income
+€30
Financing
-€376,364
Debts after one year
-€289,101
Current portion of long-term debt
-€87,264
Cash 2025
€454,711
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,875,834 | €7,668,842 | -€206,991 | -2.6% |
| Fixed assets | 21/28 | €7,359,152 | €7,206,705 | -€152,447 | -2.1% |
| Tangible fixed assets | 22/27 | €1,882,215 | €1,729,768 | -€152,447 | -8.1% |
| Land and buildings | 22 | €1,882,215 | €1,729,768 | -€152,447 | -8.1% |
| Financial fixed assets | 28 | €5,476,937 | €5,476,937 | = | 0.0% |
| Current assets | 29/58 | €516,681 | €462,137 | -€54,544 | -10.6% |
| Amounts receivable within one year | 40/41 | €52,149 | €629 | -€51,520 | -98.8% |
| Trade receivables | 40 | €2,149 | €0 | -€2,149 | -100% |
| Other amounts receivable | 41 | €50,000 | €629 | -€49,372 | -98.7% |
| Cash at bank and in hand | 54/58 | €460,040 | €454,711 | -€5,329 | -1.2% |
| Deferred charges and accrued income | 490/1 | €4,492 | €6,797 | +€2,305 | +51.3% |
| Total equity and liabilities | 10/49 | €7,875,834 | €7,668,842 | -€206,991 | -2.6% |
| Equity | 10/15 | €4,660,686 | €4,838,272 | +€177,586 | +3.8% |
| Contributions | 10/11 | €2,950,000 | €2,950,000 | = | 0.0% |
| Reserves | 13 | €1,710,686 | €1,888,272 | +€177,586 | +10.4% |
| Non-distributable reserves | 130/1 | €82,331 | €82,331 | = | 0.0% |
| Reserves not available under the articles | 1311 | €82,331 | €82,331 | = | 0.0% |
| Distributable reserves | 133 | €1,628,355 | €1,805,940 | +€177,586 | +10.9% |
| Provisions and deferred taxes | 16 | €17,500 | €17,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €17,500 | €17,500 | = | 0.0% |
| Environmental obligations | 163 | €17,500 | €17,500 | = | 0.0% |
| Amounts payable | 17/49 | €3,197,647 | €2,813,071 | -€384,577 | -12.0% |
| Amounts payable after more than one year | 17 | €2,695,422 | €2,406,321 | -€289,101 | -10.7% |
| Financial debts | 170/4 | €2,589,724 | €2,299,153 | -€290,571 | -11.2% |
| Other amounts payable | 178/9 | €105,698 | €107,168 | +€1,470 | +1.4% |
| Amounts payable within one year | 42/48 | €500,125 | €404,620 | -€95,505 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €395,188 | €307,925 | -€87,264 | -22.1% |
| Trade debts | 44 | €2,241 | €3,685 | +€1,444 | +64.4% |
| Suppliers | 440/4 | €2,241 | €3,685 | +€1,444 | +64.4% |
| Advances received on contracts in progress | 46 | €15,449 | €0 | -€15,449 | -100% |
| Taxes, remuneration and social security | 45 | €6,013 | €13,071 | +€7,058 | +117% |
| Taxes | 450/3 | €6,013 | €13,071 | +€7,058 | +117% |
| Other amounts payable | 47/48 | €81,234 | €79,939 | -€1,295 | -1.6% |
| Accrued charges and deferred income | 492/3 | €2,100 | €2,130 | +€30 | +1.4% |
| Remuneration, social security and pensions | 62 | €138 | -€89 | -€227 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,447 | €152,447 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,438 | €3,536 | +€98 | +2.9% |
| Gross operating margin | 9900 | €419,591 | €440,471 | +€20,880 | +5.0% |
| Operating profit (loss) | 9901 | €263,567 | €284,576 | +€21,009 | +8.0% |
| Financial income | 75/76B | €25 | €57 | +€32 | +130% |
| Recurring financial income | 75 | €25 | €57 | +€32 | +130% |
| Financial charges | 65/66B | €48,842 | €47,762 | -€1,080 | -2.2% |
| Recurring financial charges | 65 | €48,842 | €47,762 | -€1,080 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €214,750 | €236,871 | +€22,121 | +10.3% |
| Income taxes | 67/77 | €53,800 | €59,285 | +€5,485 | +10.2% |
| Profit (loss) for the period | 9904 | €160,950 | €177,586 | +€16,636 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €160,950 | €177,586 | +€16,636 | +10.3% |
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 21 October 2026 via checked.be.