CERTIFIN III: 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.
CERTIFIN III
Largest movements
- Current investments +€155,041
up €155,041 (+107%), from €144,554 to €299,595
- Cash +€114,256
up €114,256 (+745%), from €15,331 to €129,587
mainly Other debts (+€116,486) and Net result for the year (+€112,375)
- Other debts +€116,486
up €116,486 (+425%), from €27,382 to €143,868
- Reserves +€112,375
up €112,375 (+77.6%), from €144,745 to €257,120
- Tax, wage and social debts +€25,017
up €25,017 (+246%), from €10,184 to €35,201
of which Remuneration and social security: +€17,040
- Trade debts +€13,249
up €13,249 (+496%), from €2,671 to €15,919
- Gross operating margin -€22,263
down €22,263 (-11.5%), from €193,660 to €171,397
- Taxes +€9,258
up €9,258 (+18.8%), from €49,351 to €58,609
- Financial charges +€4,244
up €4,244 (+41.3%), from €10,274 to €14,518
- Financial income +€3,139
up €3,139 (+24.1%), from €13,035 to €16,175
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 | €207,566 | €473,576 | +€266,010 | +128% |
| Fixed assets | 21/28 | €6,927 | €5,512 | -€1,415 | -20.4% |
| Tangible fixed assets | 22/27 | €6,927 | €5,512 | -€1,415 | -20.4% |
| Plant, machinery and equipment | 23 | €5,661 | €4,890 | -€771 | -13.6% |
| Furniture and vehicles | 24 | €1,266 | €622 | -€644 | -50.9% |
| Current assets | 29/58 | €200,639 | €468,064 | +€267,426 | +133% |
| Amounts receivable within one year | 40/41 | €39,973 | €38,882 | -€1,091 | -2.7% |
| Trade receivables | 40 | €24,413 | €24,890 | +€477 | +2.0% |
| Other amounts receivable | 41 | €15,560 | €13,992 | -€1,568 | -10.1% |
| Current investments | 50/53 | €144,554 | €299,595 | +€155,041 | +107% |
| Cash at bank and in hand | 54/58 | €15,331 | €129,587 | +€114,256 | +745% |
| Deferred charges and accrued income | 490/1 | €781 | €0 | -€781 | -100% |
| Total equity and liabilities | 10/49 | €207,566 | €473,576 | +€266,010 | +128% |
| Equity | 10/15 | €163,345 | €275,720 | +€112,375 | +68.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €144,745 | €257,120 | +€112,375 | +77.6% |
| Distributable reserves | 133 | €144,745 | €257,120 | +€112,375 | +77.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €44,221 | €197,856 | +€153,636 | +347% |
| Amounts payable within one year | 42/48 | €40,237 | €194,989 | +€154,752 | +385% |
| Trade debts | 44 | €2,671 | €15,919 | +€13,249 | +496% |
| Suppliers | 440/4 | €2,671 | €15,919 | +€13,249 | +496% |
| Taxes, remuneration and social security | 45 | €10,184 | €35,201 | +€25,017 | +246% |
| Taxes | 450/3 | €10,184 | €18,161 | +€7,977 | +78.3% |
| Remuneration and social security | 454/9 | - | €17,040 | +€17,040 | |
| Other amounts payable | 47/48 | €27,382 | €143,868 | +€116,486 | +425% |
| Accrued charges and deferred income | 492/3 | €3,984 | €2,867 | -€1,117 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,812 | €1,415 | -€397 | -21.9% |
| Other operating charges | 640/8 | €513 | €654 | +€141 | +27.4% |
| Gross operating margin | 9900 | €193,660 | €171,397 | -€22,263 | -11.5% |
| Operating profit (loss) | 9901 | €191,335 | €169,327 | -€22,007 | -11.5% |
| Financial income | 75/76B | €13,035 | €16,175 | +€3,139 | +24.1% |
| Recurring financial income | 75 | €13,035 | €16,175 | +€3,139 | +24.1% |
| Financial charges | 65/66B | €10,274 | €14,518 | +€4,244 | +41.3% |
| Recurring financial charges | 65 | €10,274 | €14,518 | +€4,244 | +41.3% |
| Profit (loss) for the period before taxes | 9903 | €194,096 | €170,984 | -€23,112 | -11.9% |
| Income taxes | 67/77 | €49,351 | €58,609 | +€9,258 | +18.8% |
| Profit (loss) for the period | 9904 | €144,745 | €112,375 | -€32,370 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €144,745 | €112,375 | -€32,370 | -22.4% |
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 24 October 2026 via checked.be.