CERTPEB: what changed
Two financial 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.
CERTPEB
Largest movements
- Tangible fixed assets -€18,174
down €18,174 (-13.7%), from €132,502 to €114,327
- Cash +€9,431
up €9,431 (+18.0%), from €52,466 to €61,897
mainly Other debts (+€44,261) and Depreciation (+€24,806)
- Receivables within one year -€5,537
down €5,537 (-13.6%), from €40,726 to €35,189
of which Trade receivables: -€6,769
- Intangible fixed assets -€3,796
down €3,796 (-28.7%), from €13,226 to €9,430
- Reserves -€46,845
down €46,845 (-60.2%), from €77,864 to €31,019
- Other debts +€44,261
up €44,261 (+1,713%), from €2,584 to €46,845
- Debts after one year -€17,063
down €17,063 (-14.1%), from €120,703 to €103,640
- Tax, wage and social debts +€2,732
up €2,732 (+28.8%), from €9,472 to €12,204
- Current portion of long-term debt -€2,613
down €2,613 (-13.3%), from €19,676 to €17,062
- Gross operating margin +€18,745
up €18,745 (+83.6%), from €22,414 to €41,160
- Taxes +€4,351
up €4,351 (+435%), from €1,000 to €5,351
- Depreciation -€3,131
down €3,131 (-11.2%), from €27,937 to €24,806
- Financial income -€976
down €976 (-61.5%), from €1,587 to €611
- Financial charges -€724
down €724 (-8.5%), from €8,533 to €7,808
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.
Derived cash bridge
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 | €240,451 | €223,410 | -€17,041 | -7.1% |
| Fixed assets | 21/28 | €145,813 | €123,842 | -€21,971 | -15.1% |
| Intangible fixed assets | 21 | €13,226 | €9,430 | -€3,796 | -28.7% |
| Tangible fixed assets | 22/27 | €132,502 | €114,327 | -€18,174 | -13.7% |
| Land and buildings | 22 | €100,599 | €92,193 | -€8,406 | -8.4% |
| Plant, machinery and equipment | 23 | €3,467 | €1,697 | -€1,770 | -51.0% |
| Furniture and vehicles | 24 | €16,247 | €9,880 | -€6,367 | -39.2% |
| Other tangible fixed assets | 26 | €12,189 | €10,557 | -€1,632 | -13.4% |
| Financial fixed assets | 28 | €85 | €85 | = | 0.0% |
| Current assets | 29/58 | €94,638 | €99,568 | +€4,930 | +5.2% |
| Amounts receivable within one year | 40/41 | €40,726 | €35,189 | -€5,537 | -13.6% |
| Trade receivables | 40 | €30,066 | €23,297 | -€6,769 | -22.5% |
| Other amounts receivable | 41 | €10,659 | €11,892 | +€1,232 | +11.6% |
| Cash at bank and in hand | 54/58 | €52,466 | €61,897 | +€9,431 | +18.0% |
| Deferred charges and accrued income | 490/1 | €1,447 | €2,482 | +€1,035 | +71.5% |
| Total equity and liabilities | 10/49 | €240,451 | €223,410 | -€17,041 | -7.1% |
| Equity | 10/15 | €78,078 | €31,115 | -€46,963 | -60.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,864 | €31,019 | -€46,845 | -60.2% |
| Distributable reserves | 133 | €77,864 | €31,019 | -€46,845 | -60.2% |
| Profit (loss) carried forward | 14 | -€18,386 | -€18,504 | -€118 | -0.6% |
| Amounts payable | 17/49 | €162,373 | €192,295 | +€29,922 | +18.4% |
| Amounts payable after more than one year | 17 | €120,703 | €103,640 | -€17,063 | -14.1% |
| Financial debts | 170/4 | €120,703 | €103,640 | -€17,063 | -14.1% |
| Amounts payable within one year | 42/48 | €41,582 | €88,611 | +€47,030 | +113% |
| Current portion of amounts payable after more than one year | 42 | €19,676 | €17,062 | -€2,613 | -13.3% |
| Financial debts | 43 | €81 | €439 | +€359 | +444% |
| Credit institutions | 430/8 | €81 | €439 | +€359 | +444% |
| Trade debts | 44 | €9,770 | €12,062 | +€2,292 | +23.5% |
| Suppliers | 440/4 | €9,770 | €12,062 | +€2,292 | +23.5% |
| Taxes, remuneration and social security | 45 | €9,472 | €12,204 | +€2,732 | +28.8% |
| Taxes | 450/3 | €9,472 | €12,204 | +€2,732 | +28.8% |
| Other amounts payable | 47/48 | €2,584 | €46,845 | +€44,261 | +1,713% |
| Accrued charges and deferred income | 492/3 | €89 | €43 | -€46 | -51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,937 | €24,806 | -€3,131 | -11.2% |
| Other operating charges | 640/8 | €4,029 | €3,794 | -€235 | -5.8% |
| Non-recurring operating charges | 66A | €888 | €130 | -€758 | -85.4% |
| Gross operating margin | 9900 | €22,414 | €41,160 | +€18,745 | +83.6% |
| Operating profit (loss) | 9901 | -€10,441 | €12,430 | +€22,870 | |
| Financial income | 75/76B | €1,587 | €611 | -€976 | -61.5% |
| Recurring financial income | 75 | €1,587 | €611 | -€976 | -61.5% |
| Financial charges | 65/66B | €8,533 | €7,808 | -€724 | -8.5% |
| Recurring financial charges | 65 | €8,533 | €7,808 | -€724 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,386 | €5,232 | +€22,618 | |
| Income taxes | 67/77 | €1,000 | €5,351 | +€4,351 | +435% |
| Profit (loss) for the period | 9904 | -€18,386 | -€118 | +€18,268 | +99.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,386 | -€118 | +€18,268 | +99.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.