CERTIPOWER: 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.
CERTIPOWER
Largest movements
- Stocks and contracts -€268,649
down €268,649 (-41.1%), from €653,774 to €385,125
- Tangible fixed assets +€156,039
up €156,039 (+757.5%), from €20,598 to €176,637
of which Land and buildings: +€130,501
- Cash -€137,957
down €137,957 (-39.8%), from €346,586 to €208,629
mainly Other debts (-€394,423) and Investment in fixed assets (net) (-€248,928)
- Intangible fixed assets +€63,133
up €63,133 (+176.6%), from €35,741 to €98,874
- Deferred charges and accrued income +€26,170
up €26,170 (+10.3%), from €253,918 to €280,088
- Other debts -€394,423
down €394,423 (-64.8%), from €608,862 to €214,439
- Debts after one year +€277,918
new in 2025: €277,918
- Reserves +€219,400
up €219,400 (+333.5%), from €65,787 to €285,187
- Trade debts -€187,926
down €187,926 (-16.7%), from €1.1m to €939,759
- Current portion of long-term debt -€85,600
down €85,600 (-52.9%), from €161,770 to €76,170
- Staff costs -€146,952
down €146,952 (-23.5%), from €624,452 to €477,500
- Financial charges -€71,052
down €71,052 (-58.3%), from €121,773 to €50,722
of which Financial charges: -€51,052
- Taxes +€45,049
up €45,049 (+205.0%), from €21,979 to €67,028
- Depreciation +€17,511
up €17,511 (+143.0%), from €12,245 to €29,756
- Gross operating margin +€10,207
up €10,207 (+1.2%), from €841,123 to €851,330
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 | €2,205,705 | €2,028,725 | -€176,980 | -8.0% |
| Fixed assets | 21/28 | €56,339 | €275,511 | +€219,172 | +389.0% |
| Intangible fixed assets | 21 | €35,741 | €98,874 | +€63,133 | +176.6% |
| Tangible fixed assets | 22/27 | €20,598 | €176,637 | +€156,039 | +757.5% |
| Land and buildings | 22 | €3,918 | €134,420 | +€130,501 | +3330.6% |
| Plant, machinery and equipment | 23 | €8,927 | €34,101 | +€25,173 | +282.0% |
| Furniture and vehicles | 24 | €7,752 | €8,116 | +€364 | +4.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,149,366 | €1,753,214 | -€396,152 | -18.4% |
| Stocks and contracts in progress | 3 | €653,774 | €385,125 | -€268,649 | -41.1% |
| Stocks | 30/36 | €653,774 | €385,125 | -€268,649 | -41.1% |
| Amounts receivable within one year | 40/41 | €895,088 | €879,373 | -€15,715 | -1.8% |
| Trade receivables | 40 | €736,618 | €810,560 | +€73,942 | +10.0% |
| Other amounts receivable | 41 | €158,470 | €68,813 | -€89,657 | -56.6% |
| Cash at bank and in hand | 54/58 | €346,586 | €208,629 | -€137,957 | -39.8% |
| Deferred charges and accrued income | 490/1 | €253,918 | €280,088 | +€26,170 | +10.3% |
| Total equity and liabilities | 10/49 | €2,205,705 | €2,028,725 | -€176,980 | -8.0% |
| Equity | 10/15 | €233,787 | €453,187 | +€219,400 | +93.8% |
| Contributions | 10/11 | €168,000 | €168,000 | = | 0.0% |
| Reserves | 13 | €65,787 | €285,187 | +€219,400 | +333.5% |
| Distributable reserves | 133 | €65,787 | €285,187 | +€219,400 | +333.5% |
| Amounts payable | 17/49 | €1,971,918 | €1,575,538 | -€396,380 | -20.1% |
| Amounts payable after more than one year | 17 | - | €277,918 | +€277,918 | |
| Financial debts | 170/4 | - | €277,918 | +€277,918 | |
| Amounts payable within one year | 42/48 | €1,971,340 | €1,297,620 | -€673,720 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €161,770 | €76,170 | -€85,600 | -52.9% |
| Trade debts | 44 | €1,127,685 | €939,759 | -€187,926 | -16.7% |
| Suppliers | 440/4 | €1,127,685 | €939,759 | -€187,926 | -16.7% |
| Taxes, remuneration and social security | 45 | €73,022 | €67,251 | -€5,771 | -7.9% |
| Taxes | 450/3 | €18,234 | €10,218 | -€8,015 | -44.0% |
| Remuneration and social security | 454/9 | €54,788 | €57,033 | +€2,244 | +4.1% |
| Other amounts payable | 47/48 | €608,862 | €214,439 | -€394,423 | -64.8% |
| Accrued charges and deferred income | 492/3 | €578 | - | -€578 | |
| Non-recurring operating income | 76A | €21,058 | - | -€21,058 | |
| Remuneration, social security and pensions | 62 | €624,452 | €477,500 | -€146,952 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,245 | €29,756 | +€17,511 | +143.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,106 | +€1,106 | |
| Other operating charges | 640/8 | €1,662 | €862 | -€800 | -48.1% |
| Non-recurring operating charges | 66A | - | €4,998 | +€4,998 | |
| Gross operating margin | 9900 | €841,123 | €851,330 | +€10,207 | +1.2% |
| Operating profit (loss) | 9901 | €202,763 | €337,108 | +€134,345 | +66.3% |
| Financial income | 75/76B | €1,151 | €42 | -€1,109 | -96.4% |
| Recurring financial income | 75 | €1,151 | €42 | -€1,109 | -96.4% |
| Financial charges | 65/66B | €121,773 | €50,722 | -€71,052 | -58.3% |
| Recurring financial charges | 65 | €101,773 | €50,722 | -€51,052 | -50.2% |
| Non-recurring financial charges | 66B | €20,000 | - | -€20,000 | |
| Profit (loss) for the period before taxes | 9903 | €82,141 | €286,428 | +€204,288 | +248.7% |
| Income taxes | 67/77 | €21,979 | €67,028 | +€45,049 | +205.0% |
| Profit (loss) for the period | 9904 | €60,161 | €219,400 | +€159,239 | +264.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,161 | €219,400 | +€159,239 | +264.7% |
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 5 October 2026 via checked.be.