CEROVAN: 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.
CEROVAN
Largest movements
- Tangible fixed assets -€19,227
down €19,227 (-84.2%), from €22,848 to €3,620
- Current investments +€16,222
up €16,222 (+10.7%), from €151,757 to €167,979
- Receivables within one year +€6,062
up €6,062 (+55.7%), from €10,877 to €16,940
of which Trade receivables: +€9,019
- Cash +€5,667
up €5,667 (+5.6%), from €100,574 to €106,240
mainly Other debts (+€46,754) and Depreciation (+€19,227)
- Other debts +€46,754
up €46,754 (+240%), from €19,466 to €66,220
- Reserves -€39,073
down €39,073 (-15.6%), from €250,448 to €211,375
- Gross operating margin +€14,504
up €14,504 (+59.5%), from €24,362 to €38,866
- Taxes +€4,905
up €4,905 (+147%), from €3,344 to €8,249
- Depreciation -€4,277
down €4,277 (-18.2%), from €23,504 to €19,227
- Financial charges +€1,779
up €1,779 (+118%), from €1,508 to €3,287
- Financial income -€1,337
down €1,337 (-21.7%), from €6,161 to €4,824
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 | €291,140 | €298,144 | +€7,004 | +2.4% |
| Fixed assets | 21/28 | €22,848 | €3,620 | -€19,227 | -84.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €22,848 | €3,620 | -€19,227 | -84.2% |
| Furniture and vehicles | 24 | €22,848 | €3,620 | -€19,227 | -84.2% |
| Current assets | 29/58 | €268,292 | €294,523 | +€26,231 | +9.8% |
| Amounts receivable within one year | 40/41 | €10,877 | €16,940 | +€6,062 | +55.7% |
| Trade receivables | 40 | €7,384 | €16,403 | +€9,019 | +122% |
| Other amounts receivable | 41 | €3,493 | €537 | -€2,957 | -84.6% |
| Current investments | 50/53 | €151,757 | €167,979 | +€16,222 | +10.7% |
| Cash at bank and in hand | 54/58 | €100,574 | €106,240 | +€5,667 | +5.6% |
| Deferred charges and accrued income | 490/1 | €5,084 | €3,365 | -€1,719 | -33.8% |
| Total equity and liabilities | 10/49 | €291,140 | €298,144 | +€7,004 | +2.4% |
| Equity | 10/15 | €269,048 | €229,975 | -€39,073 | -14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €250,448 | €211,375 | -€39,073 | -15.6% |
| Distributable reserves | 133 | €250,448 | €211,375 | -€39,073 | -15.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €22,092 | €68,169 | +€46,077 | +209% |
| Amounts payable within one year | 42/48 | €20,411 | €66,796 | +€46,385 | +227% |
| Trade debts | 44 | €141 | €270 | +€130 | +92.4% |
| Suppliers | 440/4 | €141 | €270 | +€130 | +92.4% |
| Taxes, remuneration and social security | 45 | €804 | €306 | -€498 | -62.0% |
| Taxes | 450/3 | €804 | €306 | -€498 | -62.0% |
| Other amounts payable | 47/48 | €19,466 | €66,220 | +€46,754 | +240% |
| Accrued charges and deferred income | 492/3 | €1,681 | €1,372 | -€309 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,504 | €19,227 | -€4,277 | -18.2% |
| Other operating charges | 640/8 | €3,004 | €1,999 | -€1,005 | -33.4% |
| Gross operating margin | 9900 | €24,362 | €38,866 | +€14,504 | +59.5% |
| Operating profit (loss) | 9901 | -€2,146 | €17,639 | +€19,785 | |
| Financial income | 75/76B | €6,161 | €4,824 | -€1,337 | -21.7% |
| Recurring financial income | 75 | €6,161 | €4,824 | -€1,337 | -21.7% |
| Financial charges | 65/66B | €1,508 | €3,287 | +€1,779 | +118% |
| Recurring financial charges | 65 | €1,508 | €3,287 | +€1,779 | +118% |
| Profit (loss) for the period before taxes | 9903 | €2,508 | €19,177 | +€16,669 | +665% |
| Income taxes | 67/77 | €3,344 | €8,249 | +€4,905 | +147% |
| Profit (loss) for the period | 9904 | -€837 | €10,927 | +€11,764 | |
| Profit (loss) for the period to be appropriated | 9905 | -€837 | €10,927 | +€11,764 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.