CESAB: 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.
What changed
CESAB
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€80,278
2024 · €81,871-€1,593
Equity
€515,912
2024 · €435,635+€80,278
Cash
€32,108
2024 · €32,890-€782
Balance sheet total
€1.8m
2024 · €1.8m-€6,712
Largest movements
Assets
- Tangible fixed assets -€24,524
down €24,524 (-1.4%), from €1.7m to €1.7m
of which Land and buildings: -€35,292
- Current investments +€24,000
up €24,000 (+126%), from €19,000 to €43,000
Equity and liabilities
- Reserves +€80,278
up €80,278 (+19.0%), from €423,235 to €503,512
of which Distributable reserves: +€80,278
- Debts after one year -€76,053
down €76,053 (-6.4%), from €1.2m to €1.1m
of which Financial debts: -€76,053
Income statement
- Staff costs -€10,197
down €10,197 (-100%), from €10,197 to €0
- Gross operating margin -€10,167
down €10,167 (-4.2%), from €241,637 to €231,470
- Taxes -€5,442
down €5,442 (-12.2%), from €44,531 to €39,089
- Financial charges +€4,770
up €4,770 (+12.7%), from €37,623 to €42,393
- Other operating charges +€2,839
up €2,839 (+34.1%), from €8,329 to €11,167
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.
Result 2024
€81,871
Gross operating margin
-€10,167
Staff costs
+€10,197
Depreciation
-€2,698
Other operating charges
-€2,839
Other operating items
+€3,242
Financial charges
-€4,770
Taxes
+€5,442
Result 2025
€80,278
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€151,584
Investment
-€58,020
Financing
-€94,346
Cash 2024
€32,890
From operations (derived)
+€151,584
Net result for the year
+€80,278
Depreciation
+€58,543
Receivables within one year
+€6,181
Deferred charges and accrued income
-€774
Trade debts
-€3,261
Tax, wage and social debts
-€12,202
Other debts
+€14,758
Accrued charges and deferred income
+€8,062
Investment (derived)
-€58,020
Investment in fixed assets (net)
-€34,020
Current investments
-€24,000
Financing
-€94,346
Debts after one year
-€76,053
Current portion of long-term debt
-€2,039
Short-term financial debts
-€16,254
Cash 2025
€32,108
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,805,189 | €1,798,477 | -€6,712 | -0.4% |
| Fixed assets | 21/28 | €1,710,611 | €1,686,087 | -€24,524 | -1.4% |
| Tangible fixed assets | 22/27 | €1,708,886 | €1,684,362 | -€24,524 | -1.4% |
| Land and buildings | 22 | €1,332,702 | €1,297,410 | -€35,292 | -2.6% |
| Plant, machinery and equipment | 23 | €2,373 | €1,777 | -€596 | -25.1% |
| Furniture and vehicles | 24 | €742 | €554 | -€188 | -25.4% |
| Other tangible fixed assets | 26 | €373,068 | €384,621 | +€11,553 | +3.1% |
| Financial fixed assets | 28 | €1,725 | €1,725 | = | 0.0% |
| Current assets | 29/58 | €94,578 | €112,390 | +€17,812 | +18.8% |
| Amounts receivable within one year | 40/41 | €42,689 | €36,508 | -€6,181 | -14.5% |
| Trade receivables | 40 | €42,689 | €33,669 | -€9,020 | -21.1% |
| Other amounts receivable | 41 | €0 | €2,839 | +€2,839 | |
| Current investments | 50/53 | €19,000 | €43,000 | +€24,000 | +126% |
| Cash at bank and in hand | 54/58 | €32,890 | €32,108 | -€782 | -2.4% |
| Deferred charges and accrued income | 490/1 | €0 | €774 | +€774 | |
| Total equity and liabilities | 10/49 | €1,805,189 | €1,798,477 | -€6,712 | -0.4% |
| Equity | 10/15 | €435,635 | €515,912 | +€80,278 | +18.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €423,235 | €503,512 | +€80,278 | +19.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €423,235 | €503,512 | +€80,278 | +19.0% |
| Amounts payable | 17/49 | €1,369,555 | €1,282,565 | -€86,990 | -6.4% |
| Amounts payable after more than one year | 17 | €1,186,502 | €1,110,449 | -€76,053 | -6.4% |
| Financial debts | 170/4 | €946,502 | €870,449 | -€76,053 | -8.0% |
| Other amounts payable | 178/9 | €240,000 | €240,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €167,980 | €148,982 | -€18,998 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €78,157 | €76,117 | -€2,039 | -2.6% |
| Financial debts | 43 | €33,500 | €17,246 | -€16,254 | -48.5% |
| Credit institutions | 430/8 | €33,500 | €17,246 | -€16,254 | -48.5% |
| Trade debts | 44 | €5,387 | €2,126 | -€3,261 | -60.5% |
| Suppliers | 440/4 | €5,387 | €2,126 | -€3,261 | -60.5% |
| Taxes, remuneration and social security | 45 | €24,697 | €12,495 | -€12,202 | -49.4% |
| Taxes | 450/3 | €22,288 | €10,086 | -€12,202 | -54.7% |
| Remuneration and social security | 454/9 | €2,409 | €2,409 | = | 0.0% |
| Other amounts payable | 47/48 | €26,239 | €40,997 | +€14,758 | +56.2% |
| Accrued charges and deferred income | 492/3 | €15,072 | €23,134 | +€8,062 | +53.5% |
| Non-recurring operating income | 76A | €679 | €0 | -€679 | -100% |
| Remuneration, social security and pensions | 62 | €10,197 | €0 | -€10,197 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,845 | €58,543 | +€2,698 | +4.8% |
| Other operating charges | 640/8 | €8,329 | €11,167 | +€2,839 | +34.1% |
| Non-recurring operating charges | 66A | €3,242 | €0 | -€3,242 | -100% |
| Gross operating margin | 9900 | €241,637 | €231,470 | -€10,167 | -4.2% |
| Operating profit (loss) | 9901 | €164,025 | €161,759 | -€2,265 | -1.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €37,623 | €42,393 | +€4,770 | +12.7% |
| Recurring financial charges | 65 | €37,623 | €42,393 | +€4,770 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €126,401 | €119,366 | -€7,035 | -5.6% |
| Income taxes | 67/77 | €44,531 | €39,089 | -€5,442 | -12.2% |
| Profit (loss) for the period | 9904 | €81,871 | €80,278 | -€1,593 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €81,871 | €80,278 | -€1,593 | -1.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.