Certitude: what changed
Certitude
Largest movements
- Tangible fixed assets -€20,667
down €20,667 (-28.5%), from €72,460 to €51,794
of which Leasing and similar rights: -€14,178
- Cash -€14,144
down €14,144 (-27.9%), from €50,707 to €36,564
mainly Contributions, distributions and other (-€39,622) and Current portion of long-term debt (-€16,527)
- Deferred charges and accrued income +€2,286
up €2,286 (+19.7%), from €11,606 to €13,892
- Reserves -€28,286
down €28,286 (-35.5%), from €79,764 to €51,478
of which Distributable reserves: -€28,286
- Other debts +€23,010
up €23,010 (+2,185%), from €1,053 to €24,063
- Current portion of long-term debt -€16,527
down €16,527 (-65.0%), from €25,444 to €8,916
- Debts after one year -€8,916
down €8,916 (-42.5%), from €20,966 to €12,049
- Tax, wage and social debts -€3,535
down €3,535 (-15.2%), from €23,244 to €19,709
of which Taxes: -€3,143
- Gross operating margin -€10,320
down €10,320 (-7.4%), from €139,992 to €129,671
- Depreciation +€4,219
up €4,219 (+13.8%), from €30,586 to €34,804
- Staff costs -€2,796
down €2,796 (-3.7%), from €75,164 to €72,368
- Taxes -€2,636
down €2,636 (-28.2%), from €9,339 to €6,704
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,190 | €134,319 | -€31,871 | -19.2% |
| Fixed assets | 21/28 | €75,510 | €55,694 | -€19,817 | -26.2% |
| Tangible fixed assets | 22/27 | €72,460 | €51,794 | -€20,667 | -28.5% |
| Plant, machinery and equipment | 23 | €909 | €1,445 | +€537 | +59.1% |
| Furniture and vehicles | 24 | €43,494 | €30,098 | -€13,397 | -30.8% |
| Leasing and similar rights | 25 | €16,780 | €2,603 | -€14,178 | -84.5% |
| Other tangible fixed assets | 26 | €11,277 | €17,648 | +€6,371 | +56.5% |
| Financial fixed assets | 28 | €3,050 | €3,900 | +€850 | +27.9% |
| Current assets | 29/58 | €90,679 | €78,625 | -€12,054 | -13.3% |
| Amounts receivable within one year | 40/41 | €28,366 | €28,169 | -€197 | -0.7% |
| Trade receivables | 40 | €23,868 | €25,962 | +€2,093 | +8.8% |
| Other amounts receivable | 41 | €4,498 | €2,208 | -€2,290 | -50.9% |
| Cash at bank and in hand | 54/58 | €50,707 | €36,564 | -€14,144 | -27.9% |
| Deferred charges and accrued income | 490/1 | €11,606 | €13,892 | +€2,286 | +19.7% |
| Total equity and liabilities | 10/49 | €166,190 | €134,319 | -€31,871 | -19.2% |
| Equity | 10/15 | €87,824 | €59,538 | -€28,286 | -32.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €79,764 | €51,478 | -€28,286 | -35.5% |
| Tax-exempt reserves | 132 | €3,110 | €3,110 | = | 0.0% |
| Distributable reserves | 133 | €76,654 | €48,368 | -€28,286 | -36.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,365 | €74,780 | -€3,585 | -4.6% |
| Amounts payable after more than one year | 17 | €20,966 | €12,049 | -€8,916 | -42.5% |
| Financial debts | 170/4 | €20,966 | €12,049 | -€8,916 | -42.5% |
| Amounts payable within one year | 42/48 | €57,400 | €62,731 | +€5,331 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €25,444 | €8,916 | -€16,527 | -65.0% |
| Financial debts | 43 | €3,444 | €3,057 | -€387 | -11.2% |
| Credit institutions | 430/8 | €3,444 | €3,057 | -€387 | -11.2% |
| Trade debts | 44 | €4,215 | €6,986 | +€2,771 | +65.7% |
| Suppliers | 440/4 | €4,215 | €6,986 | +€2,771 | +65.7% |
| Taxes, remuneration and social security | 45 | €23,244 | €19,709 | -€3,535 | -15.2% |
| Taxes | 450/3 | €13,456 | €10,313 | -€3,143 | -23.4% |
| Remuneration and social security | 454/9 | €9,787 | €9,395 | -€392 | -4.0% |
| Other amounts payable | 47/48 | €1,053 | €24,063 | +€23,010 | +2,185% |
| Non-recurring operating income | 76A | - | €5,443 | +€5,443 | |
| Remuneration, social security and pensions | 62 | €75,164 | €72,368 | -€2,796 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,586 | €34,804 | +€4,219 | +13.8% |
| Other operating charges | 640/8 | €2,830 | €2,884 | +€54 | +1.9% |
| Non-recurring operating charges | 66A | €1,491 | €0 | -€1,491 | -100% |
| Gross operating margin | 9900 | €139,992 | €129,671 | -€10,320 | -7.4% |
| Operating profit (loss) | 9901 | €29,922 | €19,616 | -€10,306 | -34.4% |
| Financial income | 75/76B | €52 | €0 | -€52 | -100.0% |
| Recurring financial income | 75 | €52 | €0 | -€52 | -100.0% |
| Financial charges | 65/66B | €1,845 | €1,576 | -€270 | -14.6% |
| Recurring financial charges | 65 | €1,845 | €1,576 | -€270 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €28,128 | €18,040 | -€10,088 | -35.9% |
| Income taxes | 67/77 | €9,339 | €6,704 | -€2,636 | -28.2% |
| Profit (loss) for the period | 9904 | €18,788 | €11,336 | -€7,452 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,788 | €11,336 | -€7,452 | -39.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.