CERODA: what changed
CERODA
Largest movements
- Tangible fixed assets +€307,467
up €307,467 (+128%), from €240,367 to €547,835
of which Land and buildings: +€326,001
- Cash +€34,644
up €34,644 (+38.4%), from €90,283 to €124,926
mainly Debts after one year (+€250,003) and Depreciation (+€92,839)
- Receivables within one year -€14,102
down €14,102 (-14.0%), from €100,679 to €86,578
of which Other amounts receivable: -€8,190
- Debts after one year +€250,003
up €250,003 (+280%), from €89,285 to €339,288
- Profit (loss) carried forward +€62,732
up €62,732 (+198%), from €31,742 to €94,473
- Gross operating margin +€104,506
up €104,506 (+12.9%), from €811,857 to €916,363
- Depreciation +€60,295
up €60,295 (+185%), from €32,544 to €92,839
- Staff costs +€41,577
up €41,577 (+5.9%), from €702,335 to €743,912
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €431,725 | €759,735 | +€328,009 | +76.0% |
| Fixed assets | 21/28 | €240,764 | €548,231 | +€307,467 | +128% |
| Tangible fixed assets | 22/27 | €240,367 | €547,835 | +€307,467 | +128% |
| Land and buildings | 22 | €131,040 | €457,041 | +€326,001 | +249% |
| Plant, machinery and equipment | 23 | €105,212 | €87,296 | -€17,916 | -17.0% |
| Furniture and vehicles | 24 | €4,115 | €3,498 | -€617 | -15.0% |
| Financial fixed assets | 28 | €396 | €396 | = | 0.0% |
| Current assets | 29/58 | €190,962 | €211,504 | +€20,542 | +10.8% |
| Amounts receivable within one year | 40/41 | €100,679 | €86,578 | -€14,102 | -14.0% |
| Trade receivables | 40 | €73,334 | €67,423 | -€5,911 | -8.1% |
| Other amounts receivable | 41 | €27,345 | €19,155 | -€8,190 | -30.0% |
| Cash at bank and in hand | 54/58 | €90,283 | €124,926 | +€34,644 | +38.4% |
| Total equity and liabilities | 10/49 | €431,725 | €759,735 | +€328,009 | +76.0% |
| Equity | 10/15 | €235,010 | €297,742 | +€62,732 | +26.7% |
| Reserves | 13 | €203,268 | €203,268 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,742 | €94,473 | +€62,732 | +198% |
| Amounts payable | 17/49 | €196,715 | €461,993 | +€265,278 | +135% |
| Amounts payable after more than one year | 17 | €89,285 | €339,288 | +€250,003 | +280% |
| Financial debts | 170/4 | €89,285 | €339,288 | +€250,003 | +280% |
| Amounts payable within one year | 42/48 | €107,430 | €122,705 | +€15,275 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €24,109 | €31,586 | +€7,478 | +31.0% |
| Trade debts | 44 | €5,652 | €11,335 | +€5,683 | +101% |
| Suppliers | 440/4 | €5,652 | €11,335 | +€5,683 | +101% |
| Taxes, remuneration and social security | 45 | €77,634 | €79,748 | +€2,114 | +2.7% |
| Remuneration and social security | 454/9 | €77,634 | €79,748 | +€2,114 | +2.7% |
| Remuneration, social security and pensions | 62 | €702,335 | €743,912 | +€41,577 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,544 | €92,839 | +€60,295 | +185% |
| Other operating charges | 640/8 | €5,848 | €4,746 | -€1,102 | -18.9% |
| Gross operating margin | 9900 | €811,857 | €916,363 | +€104,506 | +12.9% |
| Operating profit (loss) | 9901 | €71,130 | €74,866 | +€3,737 | +5.3% |
| Financial income | 75/76B | €2 | €30 | +€27 | +1,172% |
| Recurring financial income | 75 | €2 | €30 | +€27 | +1,172% |
| Financial charges | 65/66B | €4,146 | €12,164 | +€8,018 | +193% |
| Recurring financial charges | 65 | €4,146 | €12,164 | +€8,018 | +193% |
| Profit (loss) for the period before taxes | 9903 | €66,986 | €62,732 | -€4,254 | -6.4% |
| Profit (loss) for the period | 9904 | €66,986 | €62,732 | -€4,254 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,986 | €62,732 | -€4,254 | -6.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.