CERNUNNOS: 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.
CERNUNNOS
Largest movements
- Cash -€23,942
down €23,942 (-29.6%), from €80,942 to €57,000
mainly Net result for the year (-€71,393) and Investment in fixed assets (net) (-€30,437)
- Receivables within one year +€18,392
up €18,392 (+1226.9%), from €1,499 to €19,891
of which Other amounts receivable: +€19,470
- Stocks and contracts +€12,239
up €12,239 (+4.2%), from €292,540 to €304,779
- Deferred charges and accrued income +€11,036
new in 2025: €11,036
- Trade debts +€146,668
up €146,668 (+163.7%), from €89,595 to €236,263
- Profit (loss) carried forward -€71,393
new in 2025: -€71,393
- Debts after one year -€25,329
down €25,329 (-18.4%), from €137,536 to €112,207
- Other debts -€14,860
down €14,860 (-78.0%), from €19,060 to €4,200
- Tax, wage and social debts -€12,731
down €12,731 (-43.0%), from €29,579 to €16,848
of which Taxes: -€13,045
- Gross operating margin -€183,120
down €183,120 (-71.4%), from €256,583 to €73,463
- Depreciation -€33,147
down €33,147 (-48.8%), from €67,903 to €34,757
- Staff costs -€29,435
down €29,435 (-24.6%), from €119,842 to €90,408
- Other operating charges -€15,808
down €15,808 (-98.2%), from €16,099 to €291
- Financial charges -€7,540
down €7,540 (-27.9%), from €27,072 to €19,532
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 | €640,078 | €653,484 | +€13,406 | +2.1% |
| Fixed assets | 21/28 | €265,097 | €260,778 | -€4,319 | -1.6% |
| Tangible fixed assets | 22/27 | €265,097 | €260,778 | -€4,319 | -1.6% |
| Plant, machinery and equipment | 23 | €168,811 | €175,292 | +€6,481 | +3.8% |
| Other tangible fixed assets | 26 | €96,285 | €85,485 | -€10,800 | -11.2% |
| Current assets | 29/58 | €374,981 | €392,707 | +€17,726 | +4.7% |
| Stocks and contracts in progress | 3 | €292,540 | €304,779 | +€12,239 | +4.2% |
| Stocks | 30/36 | €292,540 | €304,779 | +€12,239 | +4.2% |
| Amounts receivable within one year | 40/41 | €1,499 | €19,891 | +€18,392 | +1226.9% |
| Trade receivables | 40 | €1,077 | €0 | -€1,077 | -100.0% |
| Other amounts receivable | 41 | €422 | €19,891 | +€19,470 | +4617.7% |
| Cash at bank and in hand | 54/58 | €80,942 | €57,000 | -€23,942 | -29.6% |
| Deferred charges and accrued income | 490/1 | - | €11,036 | +€11,036 | |
| Total equity and liabilities | 10/49 | €640,078 | €653,484 | +€13,406 | +2.1% |
| Equity | 10/15 | €70,030 | -€1,362 | -€71,393 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €20,030 | €20,030 | = | 0.0% |
| Distributable reserves | 133 | €20,030 | €20,030 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€71,393 | -€71,393 | |
| Amounts payable | 17/49 | €570,047 | €654,847 | +€84,799 | +14.9% |
| Amounts payable after more than one year | 17 | €137,536 | €112,207 | -€25,329 | -18.4% |
| Financial debts | 170/4 | €137,536 | €112,207 | -€25,329 | -18.4% |
| Amounts payable within one year | 42/48 | €432,511 | €542,640 | +€110,128 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €24,277 | €25,329 | +€1,052 | +4.3% |
| Financial debts | 43 | €270,000 | €260,000 | -€10,000 | -3.7% |
| Credit institutions | 430/8 | €270,000 | €260,000 | -€10,000 | -3.7% |
| Trade debts | 44 | €89,595 | €236,263 | +€146,668 | +163.7% |
| Suppliers | 440/4 | €89,595 | €236,263 | +€146,668 | +163.7% |
| Taxes, remuneration and social security | 45 | €29,579 | €16,848 | -€12,731 | -43.0% |
| Taxes | 450/3 | €19,105 | €6,059 | -€13,045 | -68.3% |
| Remuneration and social security | 454/9 | €10,475 | €10,789 | +€314 | +3.0% |
| Other amounts payable | 47/48 | €19,060 | €4,200 | -€14,860 | -78.0% |
| Remuneration, social security and pensions | 62 | €119,842 | €90,408 | -€29,435 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,903 | €34,757 | -€33,147 | -48.8% |
| Other operating charges | 640/8 | €16,099 | €291 | -€15,808 | -98.2% |
| Gross operating margin | 9900 | €256,583 | €73,463 | -€183,120 | -71.4% |
| Operating profit (loss) | 9901 | €52,738 | -€51,993 | -€104,731 | |
| Financial income | 75/76B | €423 | €153 | -€271 | -63.9% |
| Recurring financial income | 75 | €423 | €153 | -€271 | -63.9% |
| Financial charges | 65/66B | €27,072 | €19,532 | -€7,540 | -27.9% |
| Recurring financial charges | 65 | €27,072 | €19,532 | -€7,540 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €26,090 | -€71,372 | -€97,461 | |
| Income taxes | 67/77 | €6,059 | €21 | -€6,038 | -99.7% |
| Profit (loss) for the period | 9904 | €20,030 | -€71,393 | -€91,423 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,030 | -€71,393 | -€91,423 |
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 1 October 2026 via checked.be.