CERTESO: 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.
What changed
CERTESO
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€404,927
2024 · €484,941-€80,014
Equity
€905,610
2024 · €1.6m-€670,482
Cash
€228,352
2024 · €720,647-€492,296
Balance sheet total
€2.8m
2024 · €2.6m+€255,995
Largest movements
Assets
- Current investments +€849,444
new in 2025: €849,444
- Cash -€492,296
down €492,296 (-68.3%), from €720,647 to €228,352
mainly Contributions, distributions and other (-€1.1m) and Current investments (-€849,444)
- Deferred charges and accrued income -€60,371
down €60,371 (-52.2%), from €115,696 to €55,325
- Stocks and contracts -€36,847
down €36,847 (-14.0%), from €263,994 to €227,147
of which Stocks: -€41,304
Equity and liabilities
- Other debts +€1.0m
up €1.0m (+1,542%), from €65,488 to €1.1m
- Profit (loss) carried forward -€670,482
down €670,482 (-47.9%), from €1.4m to €729,610
- Accrued charges and deferred income -€146,991
down €146,991 (-42.5%), from €345,909 to €198,919
- Short-term financial debts +€73,402
up €73,402 (+173%), from €42,513 to €115,915
- Tax, wage and social debts -€32,802
down €32,802 (-13.9%), from €236,508 to €203,706
of which Taxes: -€34,782
Income statement
- Gross operating margin -€166,802
down €166,802 (-8.1%), from €2.1m to €1.9m
- Staff costs -€79,636
down €79,636 (-5.9%), from €1.4m to €1.3m
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.
Result 2024
€484,941
Gross operating margin
-€166,802
Staff costs
+€79,636
Depreciation
+€4,312
Other operating charges
+€3,441
Other operating items
+€5,051
Financial income
-€2,465
Financial charges
-€903
Taxes
-€2,283
Result 2025
€404,927
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.5m
Investment
-€1.0m
Financing
-€1.0m
Cash 2024
€720,647
From operations (derived)
+€1.5m
Net result for the year
+€404,927
Depreciation
+€168,216
Stocks and contracts
+€36,847
Receivables within one year
-€6,551
Deferred charges and accrued income
+€60,371
Trade debts
+€24,917
Tax, wage and social debts
-€32,802
Other debts
+€1.0m
Accrued charges and deferred income
-€146,991
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€157,730
Current investments
-€849,444
Financing
-€1.0m
Current portion of long-term debt
-€1,971
Short-term financial debts
+€73,402
Contributions, distributions and other
-€1.1m
Cash 2025
€228,352
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,567,763 | €2,823,758 | +€255,995 | +10.0% |
| Fixed assets | 21/28 | €328,600 | €318,114 | -€10,486 | -3.2% |
| Intangible fixed assets | 21 | €288,000 | €288,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €37,510 | €27,024 | -€10,486 | -28.0% |
| Plant, machinery and equipment | 23 | €3,827 | €5,039 | +€1,213 | +31.7% |
| Furniture and vehicles | 24 | €32,706 | €21,595 | -€11,111 | -34.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €978 | €390 | -€588 | -60.1% |
| Financial fixed assets | 28 | €3,090 | €3,090 | = | 0.0% |
| Current assets | 29/58 | €2,239,163 | €2,505,644 | +€266,481 | +11.9% |
| Stocks and contracts in progress | 3 | €263,994 | €227,147 | -€36,847 | -14.0% |
| Stocks | 30/36 | €168,834 | €127,530 | -€41,304 | -24.5% |
| Contracts in progress | 37 | €95,161 | €99,617 | +€4,456 | +4.7% |
| Amounts receivable within one year | 40/41 | €1,138,825 | €1,145,376 | +€6,551 | +0.6% |
| Trade receivables | 40 | €1,138,631 | €1,145,230 | +€6,599 | +0.6% |
| Other amounts receivable | 41 | €194 | €146 | -€48 | -24.8% |
| Current investments | 50/53 | - | €849,444 | +€849,444 | |
| Cash at bank and in hand | 54/58 | €720,647 | €228,352 | -€492,296 | -68.3% |
| Deferred charges and accrued income | 490/1 | €115,696 | €55,325 | -€60,371 | -52.2% |
| Total equity and liabilities | 10/49 | €2,567,763 | €2,823,758 | +€255,995 | +10.0% |
| Equity | 10/15 | €1,576,092 | €905,610 | -€670,482 | -42.5% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Capital | 10 | €160,000 | €160,000 | = | 0.0% |
| Issued capital | 100 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €16,000 | €16,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,000 | €16,000 | = | 0.0% |
| Legal reserve | 130 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,400,092 | €729,610 | -€670,482 | -47.9% |
| Amounts payable | 17/49 | €991,672 | €1,918,148 | +€926,476 | +93.4% |
| Amounts payable after more than one year | 17 | €40,519 | €40,519 | = | 0.0% |
| Financial debts | 170/4 | €40,519 | €40,519 | = | 0.0% |
| Amounts payable within one year | 42/48 | €605,243 | €1,678,710 | +€1.1m | +177% |
| Current portion of amounts payable after more than one year | 42 | €1,971 | €0 | -€1,971 | -100% |
| Financial debts | 43 | €42,513 | €115,915 | +€73,402 | +173% |
| Credit institutions | 430/8 | €42,513 | €115,915 | +€73,402 | +173% |
| Trade debts | 44 | €258,763 | €283,680 | +€24,917 | +9.6% |
| Suppliers | 440/4 | €258,763 | €283,680 | +€24,917 | +9.6% |
| Taxes, remuneration and social security | 45 | €236,508 | €203,706 | -€32,802 | -13.9% |
| Taxes | 450/3 | €116,009 | €81,226 | -€34,782 | -30.0% |
| Remuneration and social security | 454/9 | €120,500 | €122,480 | +€1,980 | +1.6% |
| Other amounts payable | 47/48 | €65,488 | €1,075,409 | +€1.0m | +1,542% |
| Accrued charges and deferred income | 492/3 | €345,909 | €198,919 | -€146,991 | -42.5% |
| Non-recurring operating income | 76A | €31,598 | €18,176 | -€13,422 | -42.5% |
| Remuneration, social security and pensions | 62 | €1,350,894 | €1,271,258 | -€79,636 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €172,528 | €168,216 | -€4,312 | -2.5% |
| Other operating charges | 640/8 | €12,932 | €9,492 | -€3,441 | -26.6% |
| Non-recurring operating charges | 66A | €5,051 | €0 | -€5,051 | -100% |
| Gross operating margin | 9900 | €2,057,057 | €1,890,254 | -€166,802 | -8.1% |
| Operating profit (loss) | 9901 | €515,652 | €441,289 | -€74,363 | -14.4% |
| Financial income | 75/76B | €4,500 | €2,035 | -€2,465 | -54.8% |
| Recurring financial income | 75 | €4,500 | €2,035 | -€2,465 | -54.8% |
| Financial charges | 65/66B | €11,651 | €12,554 | +€903 | +7.8% |
| Recurring financial charges | 65 | €11,651 | €12,554 | +€903 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €508,501 | €430,771 | -€77,731 | -15.3% |
| Income taxes | 67/77 | €23,560 | €25,843 | +€2,283 | +9.7% |
| Profit (loss) for the period | 9904 | €484,941 | €404,927 | -€80,014 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €484,941 | €404,927 | -€80,014 | -16.5% |
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 14 October 2026 via checked.be.