Certinvest: 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.
Certinvest
Largest movements
- Cash +€74,709
up €74,709 (+99.2%), from €75,300 to €150,009
mainly Net result for the year (+€171,774) and Depreciation (+€23,637)
- Financial fixed assets +€25,000
up €25,000 (+104%), from €23,975 to €48,975
- Tangible fixed assets +€18,590
up €18,590 (+2.3%), from €794,549 to €813,138
of which Furniture and vehicles: +€28,376
- Receivables within one year -€12,528
down €12,528 (-83.5%), from €15,003 to €2,475
- Reserves +€91,774
up €91,774 (+12.7%), from €724,434 to €816,208
of which Distributable reserves: +€91,774
- Tax, wage and social debts +€17,263
up €17,263 (+61.3%), from €28,167 to €45,430
- Gross operating margin +€88,541
up €88,541 (+59.5%), from €148,858 to €237,398
- Taxes +€21,348
up €21,348 (+60.0%), from €35,603 to €56,951
- Financial charges -€4,827
down €4,827 (-38.1%), from €12,667 to €7,839
of which Financial charges: -€4,827
- Depreciation +€3,316
up €3,316 (+16.3%), from €20,321 to €23,637
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 | €913,693 | €1,019,708 | +€106,014 | +11.6% |
| Fixed assets | 21/28 | €818,524 | €862,113 | +€43,590 | +5.3% |
| Tangible fixed assets | 22/27 | €794,549 | €813,138 | +€18,590 | +2.3% |
| Land and buildings | 22 | €778,966 | €770,809 | -€8,157 | -1.0% |
| Plant, machinery and equipment | 23 | €2,074 | €732 | -€1,342 | -64.7% |
| Furniture and vehicles | 24 | €12,906 | €41,282 | +€28,376 | +220% |
| Other tangible fixed assets | 26 | €603 | €315 | -€288 | -47.7% |
| Financial fixed assets | 28 | €23,975 | €48,975 | +€25,000 | +104% |
| Current assets | 29/58 | €95,169 | €157,594 | +€62,425 | +65.6% |
| Amounts receivable within one year | 40/41 | €15,003 | €2,475 | -€12,528 | -83.5% |
| Other amounts receivable | 41 | €15,003 | €2,475 | -€12,528 | -83.5% |
| Current investments | 50/53 | €350 | €639 | +€289 | +82.5% |
| Cash at bank and in hand | 54/58 | €75,300 | €150,009 | +€74,709 | +99.2% |
| Deferred charges and accrued income | 490/1 | €4,517 | €4,472 | -€45 | -1.0% |
| Total equity and liabilities | 10/49 | €913,693 | €1,019,708 | +€106,014 | +11.6% |
| Equity | 10/15 | €730,634 | €822,408 | +€91,774 | +12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €724,434 | €816,208 | +€91,774 | +12.7% |
| Tax-exempt reserves | 132 | €8,743 | €8,743 | = | 0.0% |
| Distributable reserves | 133 | €715,691 | €807,465 | +€91,774 | +12.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €183,059 | €197,300 | +€14,241 | +7.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €177,014 | €193,047 | +€16,033 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | €0 | -€7,000 | -100% |
| Trade debts | 44 | €2,622 | €946 | -€1,676 | -63.9% |
| Suppliers | 440/4 | €2,622 | €946 | -€1,676 | -63.9% |
| Taxes, remuneration and social security | 45 | €28,167 | €45,430 | +€17,263 | +61.3% |
| Taxes | 450/3 | €28,167 | €45,430 | +€17,263 | +61.3% |
| Other amounts payable | 47/48 | €139,225 | €146,671 | +€7,446 | +5.3% |
| Accrued charges and deferred income | 492/3 | €6,045 | €4,253 | -€1,792 | -29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,321 | €23,637 | +€3,316 | +16.3% |
| Other operating charges | 640/8 | €3,344 | €3,256 | -€88 | -2.6% |
| Gross operating margin | 9900 | €148,858 | €237,398 | +€88,541 | +59.5% |
| Operating profit (loss) | 9901 | €125,193 | €210,506 | +€85,313 | +68.1% |
| Financial income | 75/76B | €27,184 | €26,059 | -€1,126 | -4.1% |
| Recurring financial income | 75 | €27,184 | €26,059 | -€1,126 | -4.1% |
| Financial charges | 65/66B | €12,667 | €7,839 | -€4,827 | -38.1% |
| Recurring financial charges | 65 | €12,667 | €7,839 | -€4,827 | -38.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €139,710 | €228,725 | +€89,015 | +63.7% |
| Income taxes | 67/77 | €35,603 | €56,951 | +€21,348 | +60.0% |
| Profit (loss) for the period | 9904 | €104,107 | €171,774 | +€67,666 | +65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €104,107 | €171,774 | +€67,666 | +65.0% |
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 19 October 2026 via checked.be.