CERTUS: 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.
CERTUS
Largest movements
- Cash -€61,743
down €61,743 (-56.0%), from €110,230 to €48,487
mainly Contributions, distributions and other (-€78,167) and Investment in fixed assets (net) (-€53,818)
- Receivables within one year -€55,359
down €55,359 (-61.0%), from €90,691 to €35,332
- Tangible fixed assets +€16,913
up €16,913 (+11.7%), from €144,140 to €161,053
of which Other tangible fixed assets: +€24,010
- Current investments +€5,367
up €5,367 (+20.5%), from €26,200 to €31,567
- Reserves -€78,167
down €78,167 (-35.0%), from €223,259 to €145,091
of which Distributable reserves: -€78,167
- Current portion of long-term debt +€26,843
up €26,843 (+274.1%), from €9,792 to €36,635
- Advances received -€15,740
no longer reported in 2025 (was €15,740)
- Debts after one year -€15,418
down €15,418 (-21.0%), from €73,368 to €57,951
- Profit (loss) carried forward -€10,431
down €10,431, from €4,860 to -€5,571
- Gross operating margin -€37,390
down €37,390 (-12.7%), from €294,400 to €257,010
- Taxes -€9,581
down €9,581 (-57.0%), from €16,802 to €7,221
- Staff costs +€6,619
up €6,619 (+3.1%), from €211,407 to €218,025
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 | €371,261 | €277,539 | -€93,723 | -25.2% |
| Fixed assets | 21/28 | €144,140 | €161,053 | +€16,913 | +11.7% |
| Tangible fixed assets | 22/27 | €144,140 | €161,053 | +€16,913 | +11.7% |
| Land and buildings | 22 | €3,184 | €1,490 | -€1,694 | -53.2% |
| Furniture and vehicles | 24 | €24,408 | €19,005 | -€5,403 | -22.1% |
| Other tangible fixed assets | 26 | €116,549 | €140,558 | +€24,010 | +20.6% |
| Current assets | 29/58 | €227,121 | €116,485 | -€110,636 | -48.7% |
| Amounts receivable within one year | 40/41 | €90,691 | €35,332 | -€55,359 | -61.0% |
| Other amounts receivable | 41 | €90,691 | €35,332 | -€55,359 | -61.0% |
| Current investments | 50/53 | €26,200 | €31,567 | +€5,367 | +20.5% |
| Cash at bank and in hand | 54/58 | €110,230 | €48,487 | -€61,743 | -56.0% |
| Deferred charges and accrued income | 490/1 | - | €1,100 | +€1,100 | |
| Total equity and liabilities | 10/49 | €371,261 | €277,539 | -€93,723 | -25.2% |
| Equity | 10/15 | €235,119 | €146,520 | -€88,599 | -37.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €223,259 | €145,091 | -€78,167 | -35.0% |
| Tax-exempt reserves | 132 | €243 | €243 | = | 0.0% |
| Distributable reserves | 133 | €223,016 | €144,849 | -€78,167 | -35.1% |
| Profit (loss) carried forward | 14 | €4,860 | -€5,571 | -€10,431 | |
| Amounts payable | 17/49 | €136,143 | €131,019 | -€5,124 | -3.8% |
| Amounts payable after more than one year | 17 | €73,368 | €57,951 | -€15,418 | -21.0% |
| Financial debts | 170/4 | €73,368 | €57,951 | -€15,418 | -21.0% |
| Amounts payable within one year | 42/48 | €62,775 | €73,068 | +€10,293 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €9,792 | €36,635 | +€26,843 | +274.1% |
| Financial debts | 43 | - | €2,369 | +€2,369 | |
| Credit institutions | 430/8 | - | €2,369 | +€2,369 | |
| Trade debts | 44 | €8,720 | €10,573 | +€1,853 | +21.2% |
| Suppliers | 440/4 | €8,720 | €10,573 | +€1,853 | +21.2% |
| Advances received on contracts in progress | 46 | €15,740 | - | -€15,740 | |
| Taxes, remuneration and social security | 45 | €28,522 | €23,491 | -€5,031 | -17.6% |
| Taxes | 450/3 | €6,157 | €221 | -€5,936 | -96.4% |
| Remuneration and social security | 454/9 | €22,365 | €23,271 | +€905 | +4.0% |
| Remuneration, social security and pensions | 62 | €211,407 | €218,025 | +€6,619 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,591 | €36,905 | +€2,314 | +6.7% |
| Other operating charges | 640/8 | €2,300 | €1,664 | -€636 | -27.6% |
| Non-recurring operating charges | 66A | €500 | - | -€500 | |
| Gross operating margin | 9900 | €294,400 | €257,010 | -€37,390 | -12.7% |
| Operating profit (loss) | 9901 | €45,602 | €415 | -€45,187 | -99.1% |
| Financial income | 75/76B | €36 | €2 | -€34 | -94.4% |
| Recurring financial income | 75 | €36 | €2 | -€34 | -94.4% |
| Financial charges | 65/66B | €4,489 | €3,628 | -€861 | -19.2% |
| Recurring financial charges | 65 | €4,489 | €3,628 | -€861 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €41,149 | -€3,211 | -€44,360 | |
| Income taxes | 67/77 | €16,802 | €7,221 | -€9,581 | -57.0% |
| Profit (loss) for the period | 9904 | €24,347 | -€10,431 | -€34,779 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,347 | -€10,431 | -€34,779 |
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 7 October 2026 via checked.be.