CERPA: 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.
CERPA
Largest movements
- Current investments -€685,194
down €685,194 (-49.6%), from €1.4m to €697,294
- Financial fixed assets -€312,500
down €312,500 (-12.3%), from €2.5m to €2.2m
- Cash -€240,022
down €240,022 (-22.7%), from €1.1m to €815,699
mainly Other debts (-€1.6m) and Receivables within one year (-€97,414)
- Receivables within one year +€97,414
up €97,414 (+369%), from €26,390 to €123,804
of which Other amounts receivable: +€51,730
- Other debts -€1.6m
down €1.6m (-81.9%), from €1.9m to €351,191
- Reserves +€430,627
up €430,627 (+14.1%), from €3.0m to €3.5m
- Financial income -€474,558
down €474,558 (-94.3%), from €503,048 to €28,490
- Financial charges +€231,267
up €231,267 (+10,275%), from €2,251 to €233,517
- Gross operating margin -€46,864
down €46,864 (-5.1%), from €923,774 to €876,910
- Taxes -€22,539
down €22,539 (-9.2%), from €245,303 to €222,764
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 | €5,053,407 | €3,920,196 | -€1.1m | -22.4% |
| Fixed assets | 21/28 | €2,581,781 | €2,261,812 | -€319,969 | -12.4% |
| Tangible fixed assets | 22/27 | €36,783 | €29,314 | -€7,469 | -20.3% |
| Plant, machinery and equipment | 23 | €21,148 | €23,901 | +€2,754 | +13.0% |
| Furniture and vehicles | 24 | €15,635 | €5,413 | -€10,223 | -65.4% |
| Financial fixed assets | 28 | €2,544,998 | €2,232,498 | -€312,500 | -12.3% |
| Current assets | 29/58 | €2,471,626 | €1,658,385 | -€813,242 | -32.9% |
| Amounts receivable within one year | 40/41 | €26,390 | €123,804 | +€97,414 | +369% |
| Trade receivables | 40 | €6,390 | €52,075 | +€45,685 | +715% |
| Other amounts receivable | 41 | €20,000 | €71,730 | +€51,730 | +259% |
| Current investments | 50/53 | €1,382,488 | €697,294 | -€685,194 | -49.6% |
| Cash at bank and in hand | 54/58 | €1,055,721 | €815,699 | -€240,022 | -22.7% |
| Deferred charges and accrued income | 490/1 | €7,027 | €21,587 | +€14,560 | +207% |
| Total equity and liabilities | 10/49 | €5,053,407 | €3,920,196 | -€1.1m | -22.4% |
| Equity | 10/15 | €3,062,901 | €3,493,528 | +€430,627 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,044,301 | €3,474,928 | +€430,627 | +14.1% |
| Distributable reserves | 133 | €3,044,301 | €3,474,928 | +€430,627 | +14.1% |
| Amounts payable | 17/49 | €1,990,506 | €426,669 | -€1.6m | -78.6% |
| Amounts payable within one year | 42/48 | €1,990,506 | €426,478 | -€1.6m | -78.6% |
| Trade debts | 44 | €3,558 | €19,568 | +€16,010 | +450% |
| Suppliers | 440/4 | €3,558 | €19,568 | +€16,010 | +450% |
| Taxes, remuneration and social security | 45 | €47,624 | €55,719 | +€8,096 | +17.0% |
| Taxes | 450/3 | €47,624 | €55,719 | +€8,096 | +17.0% |
| Other amounts payable | 47/48 | €1,939,324 | €351,191 | -€1.6m | -81.9% |
| Accrued charges and deferred income | 492/3 | - | €190 | +€190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,750 | €14,588 | +€838 | +6.1% |
| Other operating charges | 640/8 | €4,132 | €3,904 | -€228 | -5.5% |
| Gross operating margin | 9900 | €923,774 | €876,910 | -€46,864 | -5.1% |
| Operating profit (loss) | 9901 | €905,892 | €858,418 | -€47,474 | -5.2% |
| Financial income | 75/76B | €503,048 | €28,490 | -€474,558 | -94.3% |
| Recurring financial income | 75 | €503,048 | €28,490 | -€474,558 | -94.3% |
| Financial charges | 65/66B | €2,251 | €233,517 | +€231,267 | +10,275% |
| Recurring financial charges | 65 | €2,251 | €233,517 | +€231,267 | +10,275% |
| Profit (loss) for the period before taxes | 9903 | €1,406,689 | €653,391 | -€753,298 | -53.6% |
| Income taxes | 67/77 | €245,303 | €222,764 | -€22,539 | -9.2% |
| Profit (loss) for the period | 9904 | €1,161,386 | €430,627 | -€730,759 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,161,386 | €430,627 | -€730,759 | -62.9% |
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.