CERTECO: 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.
CERTECO
Largest movements
- Receivables within one year -€52,754
down €52,754 (-61.3%), from €86,093 to €33,338
of which Other amounts receivable: -€52,687
- Cash +€46,297
up €46,297 (+256%), from €18,066 to €64,363
mainly Net result for the year (+€63,583) and Receivables within one year (+€52,754)
- Tangible fixed assets -€22,767
down €22,767 (-5.3%), from €429,633 to €406,866
of which Land and buildings: -€16,112
- Debts after one year -€36,789
down €36,789 (-54.6%), from €67,406 to €30,617
- Tax, wage and social debts +€15,258
up €15,258 (+469%), from €3,255 to €18,513
- Reserves -€10,265
down €10,265 (-2.8%), from €366,299 to €356,034
of which Distributable reserves: -€10,265
- Gross operating margin +€55,108
up €55,108 (+65.0%), from €84,821 to €139,929
- Taxes +€16,355
up €16,355 (+175%), from €9,332 to €25,687
- Financial charges -€2,010
down €2,010 (-36.1%), from €5,570 to €3,559
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 | €533,791 | €504,567 | -€29,225 | -5.5% |
| Fixed assets | 21/28 | €429,633 | €406,866 | -€22,767 | -5.3% |
| Tangible fixed assets | 22/27 | €429,633 | €406,866 | -€22,767 | -5.3% |
| Land and buildings | 22 | €363,131 | €347,019 | -€16,112 | -4.4% |
| Plant, machinery and equipment | 23 | €11,246 | €18,223 | +€6,977 | +62.0% |
| Furniture and vehicles | 24 | €55,255 | €41,623 | -€13,632 | -24.7% |
| Current assets | 29/58 | €104,159 | €97,701 | -€6,457 | -6.2% |
| Amounts receivable within one year | 40/41 | €86,093 | €33,338 | -€52,754 | -61.3% |
| Trade receivables | 40 | €23,058 | €22,991 | -€67 | -0.3% |
| Other amounts receivable | 41 | €63,034 | €10,347 | -€52,687 | -83.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €18,066 | €64,363 | +€46,297 | +256% |
| Total equity and liabilities | 10/49 | €533,791 | €504,567 | -€29,225 | -5.5% |
| Equity | 10/15 | €378,699 | €368,434 | -€10,265 | -2.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €366,299 | €356,034 | -€10,265 | -2.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €366,299 | €356,034 | -€10,265 | -2.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €155,093 | €136,133 | -€18,959 | -12.2% |
| Amounts payable after more than one year | 17 | €67,406 | €30,617 | -€36,789 | -54.6% |
| Financial debts | 170/4 | €67,406 | €30,617 | -€36,789 | -54.6% |
| Amounts payable within one year | 42/48 | €87,686 | €105,516 | +€17,830 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €79,778 | €84,773 | +€4,995 | +6.3% |
| Trade debts | 44 | €4,653 | €2,230 | -€2,423 | -52.1% |
| Suppliers | 440/4 | €4,653 | €2,230 | -€2,423 | -52.1% |
| Taxes, remuneration and social security | 45 | €3,255 | €18,513 | +€15,258 | +469% |
| Taxes | 450/3 | €3,255 | €18,513 | +€15,258 | +469% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,785 | €45,030 | -€755 | -1.6% |
| Other operating charges | 640/8 | €3,030 | €3,195 | +€165 | +5.4% |
| Gross operating margin | 9900 | €84,821 | €139,929 | +€55,108 | +65.0% |
| Operating profit (loss) | 9901 | €36,006 | €91,704 | +€55,698 | +155% |
| Financial income | 75/76B | €1,531 | €1,125 | -€405 | -26.5% |
| Recurring financial income | 75 | €1,531 | €1,125 | -€405 | -26.5% |
| Financial charges | 65/66B | €5,570 | €3,559 | -€2,010 | -36.1% |
| Recurring financial charges | 65 | €5,570 | €3,559 | -€2,010 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €31,967 | €89,270 | +€57,303 | +179% |
| Income taxes | 67/77 | €9,332 | €25,687 | +€16,355 | +175% |
| Profit (loss) for the period | 9904 | €22,635 | €63,583 | +€40,948 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €22,635 | €63,583 | +€40,948 | +181% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.