CERTIFIN: 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
CERTIFIN
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€242,995
2024 · €298,434-€55,439
Equity
€1.3m
2024 · €1.1m+€242,995
Cash
€135,857
2024 · €139,757-€3,900
Balance sheet total
€1.5m
2024 · €1.7m-€125,555
Largest movements
Assets
- Receivables within one year -€188,142
down €188,142 (-21.4%), from €879,577 to €691,435
of which Other amounts receivable: -€184,469
- Tangible fixed assets +€62,941
up €62,941 (+9.7%), from €650,435 to €713,376
of which Furniture and vehicles: +€69,263
Equity and liabilities
- Reserves +€242,809
up €242,809 (+23.3%), from €1.0m to €1.3m
of which Distributable reserves: +€237,000
- Trade debts -€190,452
down €190,452 (-87.2%), from €218,448 to €27,995
- Other debts -€127,500
down €127,500 (-100%), from €127,500 to €0
- Debts after one year -€34,780
down €34,780 (-100%), from €34,780 to €0
- Tax, wage and social debts -€34,348
down €34,348 (-100%), from €34,348 to €0
Income statement
- Gross operating margin -€60,038
down €60,038 (-13.6%), from €442,941 to €382,903
- Taxes -€8,884
down €8,884 (-10.1%), from €87,531 to €78,647
- Depreciation +€8,308
up €8,308 (+29.0%), from €28,663 to €36,970
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
€298,434
Gross operating margin
-€60,038
Depreciation
-€8,308
Write-downs
-€2,000
Other operating charges
-€4,134
Financial income
-€355
Financial charges
+€3,132
Taxes
+€8,884
Deferred taxes and other
+€7,380
Result 2025
€242,995
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
+€113,687
Investment
-€99,401
Financing
-€18,186
Cash 2024
€139,757
From operations (derived)
+€113,687
Net result for the year
+€242,995
Depreciation
+€36,970
Receivables within one year
+€188,142
Deferred charges and accrued income
-€4,056
Provisions
+€1,936
Trade debts
-€190,452
Tax, wage and social debts
-€34,348
Other debts
-€127,500
Investment (derived)
-€99,401
Investment in fixed assets (net)
-€99,401
Financing
-€18,186
Debts after one year
-€34,780
Current portion of long-term debt
+€16,595
Cash 2025
€135,857
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,670,912 | €1,545,358 | -€125,555 | -7.5% |
| Fixed assets | 21/28 | €651,286 | €713,717 | +€62,431 | +9.6% |
| Intangible fixed assets | 21 | €851 | €341 | -€510 | -59.9% |
| Tangible fixed assets | 22/27 | €650,435 | €713,376 | +€62,941 | +9.7% |
| Land and buildings | 22 | €568,800 | €557,352 | -€11,447 | -2.0% |
| Plant, machinery and equipment | 23 | €38,665 | €32,640 | -€6,025 | -15.6% |
| Furniture and vehicles | 24 | €35,185 | €104,448 | +€69,263 | +197% |
| Other tangible fixed assets | 26 | €7,785 | €18,936 | +€11,151 | +143% |
| Current assets | 29/58 | €1,019,626 | €831,640 | -€187,986 | -18.4% |
| Amounts receivable within one year | 40/41 | €879,577 | €691,435 | -€188,142 | -21.4% |
| Trade receivables | 40 | €42,260 | €38,587 | -€3,673 | -8.7% |
| Other amounts receivable | 41 | €837,317 | €652,848 | -€184,469 | -22.0% |
| Cash at bank and in hand | 54/58 | €139,757 | €135,857 | -€3,900 | -2.8% |
| Deferred charges and accrued income | 490/1 | €292 | €4,349 | +€4,056 | +1,389% |
| Total equity and liabilities | 10/49 | €1,670,912 | €1,545,358 | -€125,555 | -7.5% |
| Equity | 10/15 | €1,087,876 | €1,330,871 | +€242,995 | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,041,803 | €1,284,611 | +€242,809 | +23.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €229,943 | €235,751 | +€5,809 | +2.5% |
| Distributable reserves | 133 | €811,860 | €1,048,860 | +€237,000 | +29.2% |
| Profit (loss) carried forward | 14 | €27,474 | €27,660 | +€186 | +0.7% |
| Provisions and deferred taxes | 16 | €74,648 | €76,584 | +€1,936 | +2.6% |
| Deferred taxes | 168 | €74,648 | €76,584 | +€1,936 | +2.6% |
| Amounts payable | 17/49 | €508,388 | €137,903 | -€370,486 | -72.9% |
| Amounts payable after more than one year | 17 | €34,780 | €0 | -€34,780 | -100% |
| Financial debts | 170/4 | €34,780 | €0 | -€34,780 | -100% |
| Amounts payable within one year | 42/48 | €473,608 | €137,903 | -€335,705 | -70.9% |
| Current portion of amounts payable after more than one year | 42 | €93,313 | €109,907 | +€16,595 | +17.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €218,448 | €27,995 | -€190,452 | -87.2% |
| Suppliers | 440/4 | €218,448 | €27,995 | -€190,452 | -87.2% |
| Taxes, remuneration and social security | 45 | €34,348 | €0 | -€34,348 | -100% |
| Taxes | 450/3 | €34,348 | €0 | -€34,348 | -100% |
| Other amounts payable | 47/48 | €127,500 | €0 | -€127,500 | -100% |
| Non-recurring operating income | 76A | €48,214 | €22,292 | -€25,922 | -53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,663 | €36,970 | +€8,308 | +29.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,000 | +€2,000 | |
| Other operating charges | 640/8 | €1,608 | €5,742 | +€4,134 | +257% |
| Gross operating margin | 9900 | €442,941 | €382,903 | -€60,038 | -13.6% |
| Operating profit (loss) | 9901 | €412,671 | €338,191 | -€74,480 | -18.0% |
| Financial income | 75/76B | €14,917 | €14,562 | -€355 | -2.4% |
| Recurring financial income | 75 | €14,917 | €14,562 | -€355 | -2.4% |
| Financial charges | 65/66B | €32,307 | €29,175 | -€3,132 | -9.7% |
| Recurring financial charges | 65 | €32,307 | €29,175 | -€3,132 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €395,281 | €323,578 | -€71,703 | -18.1% |
| Transfer from deferred taxes | 780 | €2,737 | €3,637 | +€900 | +32.9% |
| Transfer to deferred taxes | 680 | €12,053 | €5,573 | -€6,480 | -53.8% |
| Income taxes | 67/77 | €87,531 | €78,647 | -€8,884 | -10.1% |
| Profit (loss) for the period | 9904 | €298,434 | €242,995 | -€55,439 | -18.6% |
| Transfer from tax-exempt reserves | 789 | €8,211 | €10,910 | +€2,699 | +32.9% |
| Transfer to tax-exempt reserves | 689 | €36,160 | €16,719 | -€19,441 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €270,485 | €237,186 | -€33,298 | -12.3% |
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 21 October 2026 via checked.be.