CERTIOS: 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.
CERTIOS
Largest movements
- Cash -€89,535
down €89,535 (-61.9%), from €144,535 to €55,000
mainly Other debts (-€94,498) and Trade debts (-€9,829)
- Receivables within one year -€25,302
down €25,302 (-55.0%), from €45,969 to €20,667
of which Trade receivables: -€24,147
- Tangible fixed assets -€4,518
down €4,518 (-3.4%), from €131,208 to €126,690
of which Land and buildings: -€3,954
- Other debts -€94,498
down €94,498 (-95.4%), from €99,017 to €4,519
- Trade debts -€9,829
down €9,829 (-92.5%), from €10,632 to €803
- Tax, wage and social debts -€9,719
down €9,719 (-68.6%), from €14,163 to €4,443
of which Taxes: -€12,612
- Debts after one year -€9,319
down €9,319 (-10.1%), from €92,169 to €82,851
- Reserves +€4,071
up €4,071 (+4.2%), from €96,300 to €100,371
- Gross operating margin -€90,010
down €90,010 (-52.3%), from €172,255 to €82,245
- Taxes -€23,225
down €23,225 (-92.3%), from €25,172 to €1,947
- Financial charges +€22,446
up €22,446 (+46.7%), from €48,081 to €70,527
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 | €322,530 | €203,405 | -€119,125 | -36.9% |
| Fixed assets | 21/28 | €131,258 | €126,740 | -€4,518 | -3.4% |
| Tangible fixed assets | 22/27 | €131,208 | €126,690 | -€4,518 | -3.4% |
| Land and buildings | 22 | €129,331 | €125,377 | -€3,954 | -3.1% |
| Furniture and vehicles | 24 | €1,877 | €1,313 | -€564 | -30.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €191,272 | €76,665 | -€114,607 | -59.9% |
| Amounts receivable within one year | 40/41 | €45,969 | €20,667 | -€25,302 | -55.0% |
| Trade receivables | 40 | €31,768 | €7,620 | -€24,147 | -76.0% |
| Other amounts receivable | 41 | €14,201 | €13,047 | -€1,154 | -8.1% |
| Cash at bank and in hand | 54/58 | €144,535 | €55,000 | -€89,535 | -61.9% |
| Deferred charges and accrued income | 490/1 | €769 | €999 | +€230 | +29.9% |
| Total equity and liabilities | 10/49 | €322,530 | €203,405 | -€119,125 | -36.9% |
| Equity | 10/15 | €97,400 | €101,471 | +€4,071 | +4.2% |
| Contributions | 10/11 | €1,100 | €1,100 | = | 0.0% |
| Reserves | 13 | €96,300 | €100,371 | +€4,071 | +4.2% |
| Distributable reserves | 133 | €96,300 | €100,371 | +€4,071 | +4.2% |
| Amounts payable | 17/49 | €225,130 | €101,934 | -€123,196 | -54.7% |
| Amounts payable after more than one year | 17 | €92,169 | €82,851 | -€9,319 | -10.1% |
| Financial debts | 170/4 | €92,169 | €82,851 | -€9,319 | -10.1% |
| Amounts payable within one year | 42/48 | €132,961 | €19,083 | -€113,878 | -85.6% |
| Current portion of amounts payable after more than one year | 42 | €9,149 | €9,319 | +€169 | +1.9% |
| Trade debts | 44 | €10,632 | €803 | -€9,829 | -92.5% |
| Suppliers | 440/4 | €10,632 | €803 | -€9,829 | -92.5% |
| Taxes, remuneration and social security | 45 | €14,163 | €4,443 | -€9,719 | -68.6% |
| Taxes | 450/3 | €14,163 | €1,551 | -€12,612 | -89.1% |
| Remuneration and social security | 454/9 | - | €2,893 | +€2,893 | |
| Other amounts payable | 47/48 | €99,017 | €4,519 | -€94,498 | -95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,047 | €5,300 | -€747 | -12.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €172,255 | €82,245 | -€90,010 | -52.3% |
| Operating profit (loss) | 9901 | €165,821 | €76,545 | -€89,276 | -53.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €48,081 | €70,527 | +€22,446 | +46.7% |
| Recurring financial charges | 65 | €48,081 | €70,527 | +€22,446 | +46.7% |
| Profit (loss) for the period before taxes | 9903 | €117,740 | €6,018 | -€111,722 | -94.9% |
| Income taxes | 67/77 | €25,172 | €1,947 | -€23,225 | -92.3% |
| Profit (loss) for the period | 9904 | €92,568 | €4,071 | -€88,497 | -95.6% |
| Profit (loss) for the period to be appropriated | 9905 | €92,568 | €4,071 | -€88,497 | -95.6% |
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 6 October 2026 via checked.be.