CERGOLUX: 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.
CERGOLUX
Largest movements
- Receivables within one year -€36,527
down €36,527 (-17.2%), from €212,634 to €176,107
of which Trade receivables: -€40,317
- Tangible fixed assets +€36,499
up €36,499 (+10.9%), from €334,187 to €370,685
of which Land and buildings: +€23,705
- Stocks and contracts +€17,800
up €17,800 (+13.5%), from €131,400 to €149,200
of which Stocks: +€11,100
- Cash -€11,079
down €11,079 (-63.8%), from €17,355 to €6,276
mainly Investment in fixed assets (net) (-€56,934) and Stocks and contracts (-€17,800)
- Trade debts +€29,599
up €29,599 (+11.2%), from €263,430 to €293,030
- Debts after one year -€16,189
down €16,189 (-12.0%), from €134,382 to €118,193
- Current portion of long-term debt +€7,689
up €7,689 (+24.3%), from €31,699 to €39,388
- Gross operating margin +€38,021
up €38,021 (+19.6%), from €193,857 to €231,878
- Staff costs +€29,849
up €29,849 (+19.8%), from €150,512 to €180,361
- Other operating charges +€5,519
up €5,519 (+271%), from €2,034 to €7,553
- Depreciation +€5,001
up €5,001 (+32.4%), from €15,434 to €20,435
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 | €700,185 | €709,660 | +€9,474 | +1.4% |
| Fixed assets | 21/28 | €334,732 | €371,231 | +€36,499 | +10.9% |
| Tangible fixed assets | 22/27 | €334,187 | €370,685 | +€36,499 | +10.9% |
| Land and buildings | 22 | €301,065 | €324,770 | +€23,705 | +7.9% |
| Plant, machinery and equipment | 23 | €27,738 | €21,816 | -€5,922 | -21.3% |
| Furniture and vehicles | 24 | €5,384 | €24,099 | +€18,716 | +348% |
| Financial fixed assets | 28 | €545 | €545 | = | 0.0% |
| Current assets | 29/58 | €365,453 | €338,429 | -€27,024 | -7.4% |
| Stocks and contracts in progress | 3 | €131,400 | €149,200 | +€17,800 | +13.5% |
| Stocks | 30/36 | €101,400 | €112,500 | +€11,100 | +10.9% |
| Contracts in progress | 37 | €30,000 | €36,700 | +€6,700 | +22.3% |
| Amounts receivable within one year | 40/41 | €212,634 | €176,107 | -€36,527 | -17.2% |
| Trade receivables | 40 | €174,219 | €133,902 | -€40,317 | -23.1% |
| Other amounts receivable | 41 | €38,415 | €42,205 | +€3,790 | +9.9% |
| Cash at bank and in hand | 54/58 | €17,355 | €6,276 | -€11,079 | -63.8% |
| Deferred charges and accrued income | 490/1 | €4,064 | €6,846 | +€2,782 | +68.4% |
| Total equity and liabilities | 10/49 | €700,185 | €709,660 | +€9,474 | +1.4% |
| Equity | 10/15 | €104,106 | €109,161 | +€5,055 | +4.9% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €63,610 | €62,235 | -€1,375 | -2.2% |
| Tax-exempt reserves | 132 | €28,094 | €26,719 | -€1,375 | -4.9% |
| Distributable reserves | 133 | €35,516 | €35,516 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,101 | €34,532 | +€6,430 | +22.9% |
| Provisions and deferred taxes | 16 | €14,466 | €13,758 | -€708 | -4.9% |
| Deferred taxes | 168 | €14,466 | €13,758 | -€708 | -4.9% |
| Amounts payable | 17/49 | €581,613 | €586,740 | +€5,127 | +0.9% |
| Amounts payable after more than one year | 17 | €134,382 | €118,193 | -€16,189 | -12.0% |
| Financial debts | 170/4 | €134,382 | €118,193 | -€16,189 | -12.0% |
| Amounts payable within one year | 42/48 | €444,174 | €468,200 | +€24,026 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €31,699 | €39,388 | +€7,689 | +24.3% |
| Financial debts | 43 | €86,668 | €80,953 | -€5,715 | -6.6% |
| Credit institutions | 430/8 | €86,668 | €80,953 | -€5,715 | -6.6% |
| Trade debts | 44 | €263,430 | €293,030 | +€29,599 | +11.2% |
| Suppliers | 440/4 | €263,430 | €293,030 | +€29,599 | +11.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €23,626 | €18,058 | -€5,568 | -23.6% |
| Taxes | 450/3 | €6,504 | €2,444 | -€4,060 | -62.4% |
| Remuneration and social security | 454/9 | €17,122 | €15,614 | -€1,508 | -8.8% |
| Other amounts payable | 47/48 | €38,751 | €36,772 | -€1,980 | -5.1% |
| Accrued charges and deferred income | 492/3 | €3,057 | €348 | -€2,709 | -88.6% |
| Remuneration, social security and pensions | 62 | €150,512 | €180,361 | +€29,849 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,434 | €20,435 | +€5,001 | +32.4% |
| Other operating charges | 640/8 | €2,034 | €7,553 | +€5,519 | +271% |
| Gross operating margin | 9900 | €193,857 | €231,878 | +€38,021 | +19.6% |
| Operating profit (loss) | 9901 | €25,877 | €23,529 | -€2,349 | -9.1% |
| Financial income | 75/76B | €209 | €263 | +€54 | +25.7% |
| Recurring financial income | 75 | €209 | €263 | +€54 | +25.7% |
| Financial charges | 65/66B | €18,303 | €17,724 | -€580 | -3.2% |
| Recurring financial charges | 65 | €18,303 | €17,724 | -€580 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €7,783 | €6,069 | -€1,715 | -22.0% |
| Transfer from deferred taxes | 780 | €1,145 | €708 | -€436 | -38.1% |
| Income taxes | 67/77 | €1,908 | €1,722 | -€187 | -9.8% |
| Profit (loss) for the period | 9904 | €7,020 | €5,055 | -€1,965 | -28.0% |
| Transfer from tax-exempt reserves | 789 | €2,223 | €1,375 | -€848 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,243 | €6,430 | -€2,812 | -30.4% |
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 28 October 2026 via checked.be.