Cervus Consulting: 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.
Cervus Consulting
Largest movements
- Tangible fixed assets +€86,191
up €86,191 (+493%), from €17,493 to €103,684
- Receivables within one year -€13,501
down €13,501 (-50.4%), from €26,800 to €13,298
of which Trade receivables: -€22,758
- Cash -€12,948
down €12,948 (-44.3%), from €29,244 to €16,296
mainly Investment in fixed assets (net) (-€105,600) and Trade debts (-€21,380)
- Intangible fixed assets +€2,263
new in 2025: €2,263
- Other debts +€58,790
up €58,790 (+3,081%), from €1,908 to €60,698
- Profit (loss) carried forward -€32,613
down €32,613 (-100%), from €32,613 to €0
- Reserves +€28,755
new in 2025: €28,755
- Trade debts -€21,380
down €21,380 (-83.5%), from €25,590 to €4,210
- Debts after one year +€16,924
new in 2025: €16,924
- Gross operating margin +€53,470
up €53,470 (+1,689%), from €3,166 to €56,636
- Depreciation +€11,533
up €11,533 (+197%), from €5,860 to €17,393
- Staff costs +€9,932
new in 2025: €9,932
- Taxes +€8,391
up €8,391, from €0 to €8,391
- Other operating charges +€1,963
up €1,963 (+151%), from €1,296 to €3,258
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 | €74,204 | €136,635 | +€62,431 | +84.1% |
| Formation expenses | 20 | €564 | €318 | -€247 | -43.7% |
| Fixed assets | 21/28 | €17,493 | €105,947 | +€88,454 | +506% |
| Intangible fixed assets | 21 | - | €2,263 | +€2,263 | |
| Tangible fixed assets | 22/27 | €17,493 | €103,684 | +€86,191 | +493% |
| Land and buildings | 22 | €7,225 | €5,496 | -€1,730 | -23.9% |
| Plant, machinery and equipment | 23 | €9,437 | €11,374 | +€1,937 | +20.5% |
| Furniture and vehicles | 24 | €830 | €32,460 | +€31,630 | +3,811% |
| Leasing and similar rights | 25 | - | €26,418 | +€26,418 | |
| Other tangible fixed assets | 26 | - | €27,936 | +€27,936 | |
| Current assets | 29/58 | €56,147 | €30,371 | -€25,776 | -45.9% |
| Amounts receivable within one year | 40/41 | €26,800 | €13,298 | -€13,501 | -50.4% |
| Trade receivables | 40 | €25,641 | €2,883 | -€22,758 | -88.8% |
| Other amounts receivable | 41 | €1,159 | €10,415 | +€9,256 | +799% |
| Cash at bank and in hand | 54/58 | €29,244 | €16,296 | -€12,948 | -44.3% |
| Deferred charges and accrued income | 490/1 | €103 | €776 | +€673 | +651% |
| Total equity and liabilities | 10/49 | €74,204 | €136,635 | +€62,431 | +84.1% |
| Equity | 10/15 | €35,613 | €31,755 | -€3,858 | -10.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €28,755 | +€28,755 | |
| Distributable reserves | 133 | - | €28,755 | +€28,755 | |
| Profit (loss) carried forward | 14 | €32,613 | €0 | -€32,613 | -100% |
| Amounts payable | 17/49 | €38,591 | €104,880 | +€66,289 | +172% |
| Amounts payable after more than one year | 17 | - | €16,924 | +€16,924 | |
| Financial debts | 170/4 | - | €16,924 | +€16,924 | |
| Amounts payable within one year | 42/48 | €38,591 | €87,957 | +€49,365 | +128% |
| Current portion of amounts payable after more than one year | 42 | - | €5,105 | +€5,105 | |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Credit institutions | 430/8 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €25,590 | €4,210 | -€21,380 | -83.5% |
| Suppliers | 440/4 | €25,590 | €4,210 | -€21,380 | -83.5% |
| Taxes, remuneration and social security | 45 | €11,093 | €7,943 | -€3,150 | -28.4% |
| Taxes | 450/3 | €9,093 | €7,863 | -€1,231 | -13.5% |
| Remuneration and social security | 454/9 | €2,000 | €81 | -€1,919 | -96.0% |
| Other amounts payable | 47/48 | €1,908 | €60,698 | +€58,790 | +3,081% |
| Non-recurring operating income | 76A | - | €800 | +€800 | |
| Remuneration, social security and pensions | 62 | - | €9,932 | +€9,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,860 | €17,393 | +€11,533 | +197% |
| Other operating charges | 640/8 | €1,296 | €3,258 | +€1,963 | +151% |
| Gross operating margin | 9900 | €3,166 | €56,636 | +€53,470 | +1,689% |
| Operating profit (loss) | 9901 | -€3,990 | €26,053 | +€30,043 | |
| Financial income | 75/76B | €80 | €169 | +€89 | +110% |
| Recurring financial income | 75 | €80 | €169 | +€89 | +110% |
| Financial charges | 65/66B | €216 | €1,689 | +€1,473 | +682% |
| Recurring financial charges | 65 | €216 | €1,689 | +€1,473 | +682% |
| Profit (loss) for the period before taxes | 9903 | -€4,125 | €24,533 | +€28,658 | |
| Income taxes | 67/77 | €0 | €8,391 | +€8,391 | |
| Profit (loss) for the period | 9904 | -€4,125 | €16,142 | +€20,267 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,125 | €16,142 | +€20,267 |
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 15 October 2026 via checked.be.