CERTO: 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.
CERTO
Largest movements
- Stocks and contracts +€7,735
up €7,735 (+2.6%), from €301,426 to €309,161
- Tangible fixed assets -€6,264
down €6,264 (-10.7%), from €58,674 to €52,410
of which Furniture and vehicles: -€14,106
- Receivables within one year -€5,677
down €5,677 (-15.8%), from €35,903 to €30,226
of which Other amounts receivable: -€3,020
- Cash +€5,428
up €5,428 (+16.5%), from €32,904 to €38,332
mainly Depreciation (+€18,735) and Net result for the year (+€18,137)
- Reserves +€18,137
up €18,137 (+24.3%), from €74,602 to €92,739
- Debts after one year -€12,642
down €12,642 (-37.3%), from €33,898 to €21,256
- Tax, wage and social debts -€6,372
down €6,372 (-23.9%), from €26,712 to €20,340
of which Remuneration and social security: -€6,613
- Gross operating margin +€27,633
up €27,633 (+25.1%), from €110,069 to €137,702
- Taxes +€5,840
new in 2025: €5,840
- Staff costs +€1,889
up €1,889 (+2.1%), from €89,585 to €91,474
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 | €444,440 | €443,346 | -€1,094 | -0.2% |
| Fixed assets | 21/28 | €65,133 | €57,568 | -€7,564 | -11.6% |
| Intangible fixed assets | 21 | €6,458 | €5,158 | -€1,300 | -20.1% |
| Tangible fixed assets | 22/27 | €58,674 | €52,410 | -€6,264 | -10.7% |
| Land and buildings | 22 | €6,786 | €7,866 | +€1,080 | +15.9% |
| Plant, machinery and equipment | 23 | €1,012 | €7,775 | +€6,762 | +668.1% |
| Furniture and vehicles | 24 | €50,876 | €36,770 | -€14,106 | -27.7% |
| Current assets | 29/58 | €379,308 | €385,778 | +€6,470 | +1.7% |
| Stocks and contracts in progress | 3 | €301,426 | €309,161 | +€7,735 | +2.6% |
| Stocks | 30/36 | €301,426 | €309,161 | +€7,735 | +2.6% |
| Amounts receivable within one year | 40/41 | €35,903 | €30,226 | -€5,677 | -15.8% |
| Trade receivables | 40 | €31,713 | €29,056 | -€2,657 | -8.4% |
| Other amounts receivable | 41 | €4,190 | €1,170 | -€3,020 | -72.1% |
| Cash at bank and in hand | 54/58 | €32,904 | €38,332 | +€5,428 | +16.5% |
| Deferred charges and accrued income | 490/1 | €9,074 | €8,059 | -€1,015 | -11.2% |
| Total equity and liabilities | 10/49 | €444,440 | €443,346 | -€1,094 | -0.2% |
| Equity | 10/15 | €124,602 | €142,739 | +€18,137 | +14.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €74,602 | €92,739 | +€18,137 | +24.3% |
| Distributable reserves | 133 | €74,602 | €92,739 | +€18,137 | +24.3% |
| Amounts payable | 17/49 | €319,838 | €300,607 | -€19,231 | -6.0% |
| Amounts payable after more than one year | 17 | €33,898 | €21,256 | -€12,642 | -37.3% |
| Financial debts | 170/4 | €33,898 | €21,256 | -€12,642 | -37.3% |
| Amounts payable within one year | 42/48 | €285,910 | €279,351 | -€6,558 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €12,222 | €12,642 | +€420 | +3.4% |
| Trade debts | 44 | €33,689 | €30,929 | -€2,760 | -8.2% |
| Suppliers | 440/4 | €33,689 | €30,929 | -€2,760 | -8.2% |
| Taxes, remuneration and social security | 45 | €26,712 | €20,340 | -€6,372 | -23.9% |
| Taxes | 450/3 | €11,650 | €11,891 | +€241 | +2.1% |
| Remuneration and social security | 454/9 | €15,063 | €8,450 | -€6,613 | -43.9% |
| Other amounts payable | 47/48 | €213,286 | €215,440 | +€2,154 | +1.0% |
| Accrued charges and deferred income | 492/3 | €31 | - | -€31 | |
| Remuneration, social security and pensions | 62 | €89,585 | €91,474 | +€1,889 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,774 | €18,735 | -€39 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€177 | - | +€177 | |
| Other operating charges | 640/8 | €2,081 | €1,501 | -€580 | -27.9% |
| Gross operating margin | 9900 | €110,069 | €137,702 | +€27,633 | +25.1% |
| Operating profit (loss) | 9901 | -€195 | €25,991 | +€26,186 | |
| Financial income | 75/76B | €1,010 | €806 | -€203 | -20.1% |
| Recurring financial income | 75 | €1,010 | €806 | -€203 | -20.1% |
| Financial charges | 65/66B | €3,311 | €2,821 | -€490 | -14.8% |
| Recurring financial charges | 65 | €3,311 | €2,821 | -€490 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,496 | €23,977 | +€26,473 | |
| Income taxes | 67/77 | - | €5,840 | +€5,840 | |
| Profit (loss) for the period | 9904 | -€2,496 | €18,137 | +€20,633 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,496 | €18,137 | +€20,633 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.