CERTIOR: what changed
Two fiscal 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.
CERTIOR
Largest movements
- Cash +€58,212
up €58,212 (+51.9%), from €112,208 to €170,420
mainly Net result for the year (+€81,780) and Other debts (+€21,901)
- Tangible fixed assets +€18,772
up €18,772 (+614.4%), from €3,056 to €21,828
of which Furniture and vehicles: +€19,667
- Receivables within one year +€5,784
up €5,784 (+16.3%), from €35,551 to €41,335
of which Trade receivables: +€5,468
- Reserves +€59,387
up €59,387 (+43.5%), from €136,490 to €195,877
- Other debts +€21,901
new in 2025: €21,901
- Gross operating margin +€21,333
up €21,333 (+22.4%), from €95,160 to €116,492
- Taxes +€5,269
up €5,269 (+19.9%), from €26,441 to €31,710
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.
Cash bridge derived
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 | €150,814 | €233,583 | +€82,769 | +54.9% |
| Fixed assets | 21/28 | €3,056 | €21,828 | +€18,772 | +614.4% |
| Tangible fixed assets | 22/27 | €3,056 | €21,828 | +€18,772 | +614.4% |
| Plant, machinery and equipment | 23 | €3,056 | €2,161 | -€894 | -29.3% |
| Furniture and vehicles | 24 | - | €19,667 | +€19,667 | |
| Current assets | 29/58 | €147,758 | €211,755 | +€63,997 | +43.3% |
| Amounts receivable within one year | 40/41 | €35,551 | €41,335 | +€5,784 | +16.3% |
| Trade receivables | 40 | €31,844 | €37,313 | +€5,468 | +17.2% |
| Other amounts receivable | 41 | €3,706 | €4,022 | +€316 | +8.5% |
| Cash at bank and in hand | 54/58 | €112,208 | €170,420 | +€58,212 | +51.9% |
| Total equity and liabilities | 10/49 | €150,814 | €233,583 | +€82,769 | +54.9% |
| Equity | 10/15 | €142,790 | €202,177 | +€59,387 | +41.6% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €136,490 | €195,877 | +€59,387 | +43.5% |
| Distributable reserves | 133 | €136,490 | €195,877 | +€59,387 | +43.5% |
| Amounts payable | 17/49 | €8,024 | €31,406 | +€23,382 | +291.4% |
| Amounts payable within one year | 42/48 | €8,024 | €31,406 | +€23,382 | +291.4% |
| Trade debts | 44 | €591 | €726 | +€134 | +22.7% |
| Suppliers | 440/4 | €591 | €726 | +€134 | +22.7% |
| Taxes, remuneration and social security | 45 | €7,432 | €8,779 | +€1,347 | +18.1% |
| Taxes | 450/3 | €7,432 | €8,779 | +€1,347 | +18.1% |
| Other amounts payable | 47/48 | - | €21,901 | +€21,901 | |
| Remuneration, social security and pensions | 62 | €1,760 | €1,760 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,391 | €1,265 | -€126 | -9.1% |
| Other operating charges | 640/8 | €214 | €62 | -€152 | -71.0% |
| Gross operating margin | 9900 | €95,160 | €116,492 | +€21,333 | +22.4% |
| Operating profit (loss) | 9901 | €91,795 | €113,405 | +€21,611 | +23.5% |
| Financial income | 75/76B | €1,025 | €170 | -€855 | -83.4% |
| Recurring financial income | 75 | €1,025 | €170 | -€855 | -83.4% |
| Financial charges | 65/66B | €110 | €85 | -€25 | -22.4% |
| Recurring financial charges | 65 | €110 | €85 | -€25 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €92,710 | €113,490 | +€20,780 | +22.4% |
| Income taxes | 67/77 | €26,441 | €31,710 | +€5,269 | +19.9% |
| Profit (loss) for the period | 9904 | €66,269 | €81,780 | +€15,511 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,269 | €81,780 | +€15,511 | +23.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.