CERT: 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.
CERT
Largest movements
- Current investments +€38,050
up €38,050 (+95.0%), from €40,059 to €78,108
- Cash -€8,928
down €8,928 (-16.8%), from €53,075 to €44,147
mainly Current investments (-€38,050) and Debts after one year (-€9,389)
- Tangible fixed assets -€6,777
down €6,777 (-3.5%), from €191,576 to €184,799
of which Land and buildings: -€10,624
- Deferred charges and accrued income +€5,390
up €5,390 (+72.5%), from €7,437 to €12,827
- Other debts +€21,050
up €21,050 (+66.8%), from €31,501 to €52,551
- Reserves +€14,000
up €14,000 (+18.9%), from €74,097 to €88,097
of which Distributable reserves: +€14,000
- Debts after one year -€9,389
down €9,389 (-5.8%), from €161,288 to €151,899
- Trade debts +€4,002
up €4,002 (+86.5%), from €4,625 to €8,628
- Staff costs -€6,358
down €6,358, from €6,301 to -€58
- Gross operating margin -€4,814
down €4,814 (-12.7%), from €38,033 to €33,219
- Taxes +€2,506
up €2,506 (+87.4%), from €2,866 to €5,373
- Financial income +€1,316
up €1,316 (+29.5%), from €4,462 to €5,778
- Financial charges +€1,234
up €1,234 (+28.3%), from €4,353 to €5,587
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 | €357,020 | €386,151 | +€29,131 | +8.2% |
| Fixed assets | 21/28 | €191,576 | €184,799 | -€6,777 | -3.5% |
| Tangible fixed assets | 22/27 | €191,576 | €184,799 | -€6,777 | -3.5% |
| Land and buildings | 22 | €189,855 | €179,231 | -€10,624 | -5.6% |
| Furniture and vehicles | 24 | €1,721 | €5,568 | +€3,847 | +223% |
| Current assets | 29/58 | €165,444 | €201,352 | +€35,908 | +21.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €64,873 | €66,269 | +€1,396 | +2.2% |
| Trade receivables | 40 | €14,869 | €16,159 | +€1,290 | +8.7% |
| Other amounts receivable | 41 | €50,004 | €50,110 | +€106 | +0.2% |
| Current investments | 50/53 | €40,059 | €78,108 | +€38,050 | +95.0% |
| Cash at bank and in hand | 54/58 | €53,075 | €44,147 | -€8,928 | -16.8% |
| Deferred charges and accrued income | 490/1 | €7,437 | €12,827 | +€5,390 | +72.5% |
| Total equity and liabilities | 10/49 | €357,020 | €386,151 | +€29,131 | +8.2% |
| Equity | 10/15 | €139,583 | €153,118 | +€13,535 | +9.7% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €74,097 | €88,097 | +€14,000 | +18.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €74,097 | €88,097 | +€14,000 | +18.9% |
| Profit (loss) carried forward | 14 | €2,485 | €2,020 | -€465 | -18.7% |
| Amounts payable | 17/49 | €217,437 | €233,033 | +€15,596 | +7.2% |
| Amounts payable after more than one year | 17 | €161,288 | €151,899 | -€9,389 | -5.8% |
| Financial debts | 170/4 | €161,288 | €151,899 | -€9,389 | -5.8% |
| Amounts payable within one year | 42/48 | €53,994 | €77,738 | +€23,744 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €9,281 | €10,167 | +€886 | +9.5% |
| Trade debts | 44 | €4,625 | €8,628 | +€4,002 | +86.5% |
| Suppliers | 440/4 | €4,625 | €8,628 | +€4,002 | +86.5% |
| Taxes, remuneration and social security | 45 | €8,586 | €6,393 | -€2,194 | -25.5% |
| Taxes | 450/3 | €8,586 | €6,393 | -€2,194 | -25.5% |
| Other amounts payable | 47/48 | €31,501 | €52,551 | +€21,050 | +66.8% |
| Accrued charges and deferred income | 492/3 | €2,156 | €3,397 | +€1,241 | +57.6% |
| Non-recurring operating income | 76A | €29 | €2,624 | +€2,596 | +8,981% |
| Remuneration, social security and pensions | 62 | €6,301 | -€58 | -€6,358 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,421 | €12,040 | +€619 | +5.4% |
| Other operating charges | 640/8 | €911 | €1,721 | +€810 | +88.9% |
| Gross operating margin | 9900 | €38,033 | €33,219 | -€4,814 | -12.7% |
| Operating profit (loss) | 9901 | €19,401 | €19,517 | +€115 | +0.6% |
| Financial income | 75/76B | €4,462 | €5,778 | +€1,316 | +29.5% |
| Recurring financial income | 75 | €4,462 | €5,778 | +€1,316 | +29.5% |
| Financial charges | 65/66B | €4,353 | €5,587 | +€1,234 | +28.3% |
| Recurring financial charges | 65 | €4,353 | €5,587 | +€1,234 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €19,510 | €19,708 | +€197 | +1.0% |
| Income taxes | 67/77 | €2,866 | €5,373 | +€2,506 | +87.4% |
| Profit (loss) for the period | 9904 | €16,644 | €14,335 | -€2,309 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,644 | €14,335 | -€2,309 | -13.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.