CERULEAN: 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.
CERULEAN
Largest movements
- Financial fixed assets -€131,690
down €131,690 (-100.0%), from €131,690 to €0
- Cash -€40,171
down €40,171 (-15.0%), from €268,470 to €228,298
mainly Contributions, distributions and other (-€230,213) and Other debts (-€137,862)
- Other debts -€137,862
down €137,862 (-84.2%), from €163,658 to €25,796
- Tax, wage and social debts -€19,007
down €19,007 (-63.7%), from €29,852 to €10,845
of which Taxes: -€21,741
- Profit (loss) carried forward -€13,000
down €13,000 (-100.0%), from €13,000 to €0
- Gross operating margin +€15,446
up €15,446 (+5.7%), from €272,053 to €287,499
- Taxes +€3,903
up €3,903 (+6.1%), from €64,105 to €68,008
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 | €457,194 | €288,115 | -€169,079 | -37.0% |
| Fixed assets | 21/28 | €131,980 | €1,069 | -€130,911 | -99.2% |
| Tangible fixed assets | 22/27 | €290 | €1,069 | +€779 | +269.0% |
| Plant, machinery and equipment | 23 | €290 | €1,069 | +€779 | +269.0% |
| Financial fixed assets | 28 | €131,690 | €0 | -€131,690 | -100.0% |
| Current assets | 29/58 | €325,214 | €287,046 | -€38,168 | -11.7% |
| Amounts receivable within one year | 40/41 | €56,311 | €58,347 | +€2,037 | +3.6% |
| Trade receivables | 40 | €56,311 | €56,355 | +€44 | +0.1% |
| Other amounts receivable | 41 | - | €1,992 | +€1,992 | |
| Cash at bank and in hand | 54/58 | €268,470 | €228,298 | -€40,171 | -15.0% |
| Deferred charges and accrued income | 490/1 | €434 | €400 | -€33 | -7.7% |
| Total equity and liabilities | 10/49 | €457,194 | €288,115 | -€169,079 | -37.0% |
| Equity | 10/15 | €263,606 | €250,606 | -€13,000 | -4.9% |
| Reserves | 13 | €250,606 | €250,606 | = | 0.0% |
| Distributable reserves | 133 | €250,606 | €250,606 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,000 | €0 | -€13,000 | -100.0% |
| Amounts payable | 17/49 | €193,588 | €37,509 | -€156,079 | -80.6% |
| Amounts payable within one year | 42/48 | €193,588 | €37,509 | -€156,079 | -80.6% |
| Trade debts | 44 | €78 | €868 | +€790 | +1012.3% |
| Suppliers | 440/4 | €78 | €868 | +€790 | +1012.3% |
| Taxes, remuneration and social security | 45 | €29,852 | €10,845 | -€19,007 | -63.7% |
| Taxes | 450/3 | €29,852 | €8,111 | -€21,741 | -72.8% |
| Remuneration and social security | 454/9 | - | €2,734 | +€2,734 | |
| Other amounts payable | 47/48 | €163,658 | €25,796 | -€137,862 | -84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,275 | €562 | -€713 | -55.9% |
| Other operating charges | 640/8 | €1,211 | €1,663 | +€452 | +37.3% |
| Gross operating margin | 9900 | €272,053 | €287,499 | +€15,446 | +5.7% |
| Operating profit (loss) | 9901 | €269,567 | €285,274 | +€15,707 | +5.8% |
| Financial charges | 65/66B | €57 | €53 | -€4 | -7.4% |
| Recurring financial charges | 65 | €57 | €53 | -€4 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €269,510 | €285,221 | +€15,711 | +5.8% |
| Income taxes | 67/77 | €64,105 | €68,008 | +€3,903 | +6.1% |
| Profit (loss) for the period | 9904 | €205,405 | €217,213 | +€11,808 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €205,405 | €217,213 | +€11,808 | +5.7% |
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 7 October 2026 via checked.be.