CERUS: 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.
CERUS
Largest movements
- Receivables within one year -€13,861
down €13,861 (-4.8%), from €287,574 to €273,713
of which Other amounts receivable: -€9,321
- Cash -€8,943
down €8,943 (-36.8%), from €24,302 to €15,358
mainly Debts after one year (-€354,914) and Investment in fixed assets (net) (-€10,045)
- Debts after one year -€354,914
down €354,914 (-26.5%), from €1.3m to €986,000
- Current portion of long-term debt +€349,060
up €349,060 (+5962.7%), from €5,854 to €354,914
- Profit (loss) carried forward -€8,520
down €8,520 (-0.4%), from -€2.2m to -€2.2m
- Financial charges -€1.9m
down €1.9m (-100.0%), from €1.9m to €174
of which Non-recurring financial charges: -€1.9m
- Financial income -€815,872
down €815,872 (-98.3%), from €830,274 to €14,402
of which Non-recurring financial income: -€829,355
- Gross operating margin -€31,102
down €31,102, from €16,893 to -€14,209
- Other operating charges -€6,120
down €6,120 (-80.0%), from €7,650 to €1,531
- Depreciation +€593
up €593 (+9.5%), from €6,210 to €6,803
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 | €705,665 | €689,271 | -€16,394 | -2.3% |
| Fixed assets | 21/28 | €11,223 | €14,466 | +€3,243 | +28.9% |
| Tangible fixed assets | 22/27 | €11,173 | €14,416 | +€3,243 | +29.0% |
| Furniture and vehicles | 24 | €11,173 | €14,416 | +€3,243 | +29.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €694,442 | €674,805 | -€19,637 | -2.8% |
| Amounts receivable after more than one year | 29 | €380,000 | €380,000 | = | 0.0% |
| Other amounts receivable | 291 | €380,000 | €380,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €287,574 | €273,713 | -€13,861 | -4.8% |
| Trade receivables | 40 | €5,000 | €461 | -€4,540 | -90.8% |
| Other amounts receivable | 41 | €282,574 | €273,253 | -€9,321 | -3.3% |
| Cash at bank and in hand | 54/58 | €24,302 | €15,358 | -€8,943 | -36.8% |
| Deferred charges and accrued income | 490/1 | €2,567 | €5,733 | +€3,167 | +123.4% |
| Total equity and liabilities | 10/49 | €705,665 | €689,271 | -€16,394 | -2.3% |
| Equity | 10/15 | -€2,051,610 | -€2,060,130 | -€8,520 | -0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €150,958 | €150,958 | = | 0.0% |
| Distributable reserves | 133 | €150,958 | €150,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,214,968 | -€2,223,488 | -€8,520 | -0.4% |
| Provisions and deferred taxes | 16 | €33,592 | €33,592 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €33,592 | €33,592 | = | 0.0% |
| Pensions and similar obligations | 160 | €33,592 | €33,592 | = | 0.0% |
| Amounts payable | 17/49 | €2,723,683 | €2,715,809 | -€7,874 | -0.3% |
| Amounts payable after more than one year | 17 | €1,340,914 | €986,000 | -€354,914 | -26.5% |
| Financial debts | 170/4 | €1,340,914 | €986,000 | -€354,914 | -26.5% |
| Amounts payable within one year | 42/48 | €1,382,769 | €1,729,809 | +€347,040 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €5,854 | €354,914 | +€349,060 | +5962.7% |
| Trade debts | 44 | €8,818 | €11,986 | +€3,167 | +35.9% |
| Suppliers | 440/4 | €8,818 | €11,986 | +€3,167 | +35.9% |
| Taxes, remuneration and social security | 45 | €2,336 | €1,355 | -€981 | -42.0% |
| Taxes | 450/3 | €2,336 | €34 | -€2,302 | -98.5% |
| Remuneration and social security | 454/9 | - | €1,321 | +€1,321 | |
| Other amounts payable | 47/48 | €1,365,761 | €1,361,554 | -€4,207 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,210 | €6,803 | +€593 | +9.5% |
| Other operating charges | 640/8 | €7,650 | €1,531 | -€6,120 | -80.0% |
| Gross operating margin | 9900 | €16,893 | -€14,209 | -€31,102 | |
| Operating profit (loss) | 9901 | €3,033 | -€22,542 | -€25,575 | |
| Financial income | 75/76B | €830,274 | €14,402 | -€815,872 | -98.3% |
| Recurring financial income | 75 | €919 | €14,402 | +€13,483 | +1467.4% |
| Non-recurring financial income | 76B | €829,355 | €0 | -€829,355 | -100.0% |
| Financial charges | 65/66B | €1,926,734 | €174 | -€1.9m | -100.0% |
| Recurring financial charges | 65 | €26,734 | €174 | -€26,560 | -99.3% |
| Non-recurring financial charges | 66B | €1,900,000 | €0 | -€1.9m | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,093,427 | -€8,314 | +€1.1m | +99.2% |
| Income taxes | 67/77 | €174 | €205 | +€31 | +17.8% |
| Profit (loss) for the period | 9904 | -€1,093,601 | -€8,520 | +€1.1m | +99.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,093,601 | -€8,520 | +€1.1m | +99.2% |
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 4 October 2026 via checked.be.