CESAC IMMO: 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.
CESAC IMMO
Largest movements
- Tangible fixed assets -€5,028
down €5,028 (-1.2%), from €433,825 to €428,796
of which Land and buildings: -€4,189
- Reserves +€35,000
up €35,000 (+38.0%), from €92,200 to €127,200
of which Distributable reserves: +€35,000
- Debts after one year -€25,129
down €25,129 (-17.4%), from €144,072 to €118,944
- Current portion of long-term debt -€10,152
down €10,152 (-23.2%), from €43,728 to €33,576
- Other debts -€7,900
down €7,900 (-12.5%), from €63,347 to €55,447
- Gross operating margin +€13,357
up €13,357 (+16.0%), from €83,286 to €96,644
- Other operating charges +€5,262
up €5,262 (+114.0%), from €4,615 to €9,877
- Taxes +€2,623
up €2,623 (+18.7%), from €14,022 to €16,645
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 | €463,188 | €456,427 | -€6,761 | -1.5% |
| Fixed assets | 21/28 | €433,850 | €428,821 | -€5,028 | -1.2% |
| Tangible fixed assets | 22/27 | €433,825 | €428,796 | -€5,028 | -1.2% |
| Land and buildings | 22 | €432,195 | €428,007 | -€4,189 | -1.0% |
| Furniture and vehicles | 24 | €1,629 | €789 | -€840 | -51.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €29,339 | €27,606 | -€1,732 | -5.9% |
| Amounts receivable within one year | 40/41 | - | €855 | +€855 | |
| Other amounts receivable | 41 | - | €855 | +€855 | |
| Cash at bank and in hand | 54/58 | €29,339 | €26,377 | -€2,962 | -10.1% |
| Deferred charges and accrued income | 490/1 | - | €374 | +€374 | |
| Total equity and liabilities | 10/49 | €463,188 | €456,427 | -€6,761 | -1.5% |
| Equity | 10/15 | €207,564 | €243,461 | +€35,897 | +17.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €92,200 | €127,200 | +€35,000 | +38.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €86,000 | €121,000 | +€35,000 | +40.7% |
| Profit (loss) carried forward | 14 | €53,391 | €54,288 | +€897 | +1.7% |
| Amounts payable | 17/49 | €255,624 | €212,966 | -€42,658 | -16.7% |
| Amounts payable after more than one year | 17 | €144,072 | €118,944 | -€25,129 | -17.4% |
| Financial debts | 170/4 | €144,072 | €118,944 | -€25,129 | -17.4% |
| Amounts payable within one year | 42/48 | €111,551 | €94,022 | -€17,529 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €43,728 | €33,576 | -€10,152 | -23.2% |
| Trade debts | 44 | €1,500 | €1,500 | = | 0.0% |
| Suppliers | 440/4 | €1,500 | €1,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,977 | €3,500 | +€523 | +17.6% |
| Taxes | 450/3 | €2,977 | €3,500 | +€523 | +17.6% |
| Other amounts payable | 47/48 | €63,347 | €55,447 | -€7,900 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,907 | €31,304 | +€396 | +1.3% |
| Other operating charges | 640/8 | €4,615 | €9,877 | +€5,262 | +114.0% |
| Gross operating margin | 9900 | €83,286 | €96,644 | +€13,357 | +16.0% |
| Operating profit (loss) | 9901 | €47,763 | €55,463 | +€7,699 | +16.1% |
| Financial charges | 65/66B | €3,454 | €2,920 | -€534 | -15.5% |
| Recurring financial charges | 65 | €3,454 | €2,920 | -€534 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €44,309 | €52,542 | +€8,233 | +18.6% |
| Income taxes | 67/77 | €14,022 | €16,645 | +€2,623 | +18.7% |
| Profit (loss) for the period | 9904 | €30,287 | €35,897 | +€5,610 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €30,287 | €35,897 | +€5,610 | +18.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.