César: 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.
César
Largest movements
- Stocks and contracts +€152,904
new in 2025: €152,904
- Financial fixed assets +€40,000
up €40,000 (+100.0%), from €40,000 to €80,000
- Cash -€11,298
down €11,298 (-31.9%), from €35,397 to €24,099
mainly Stocks and contracts (-€152,904) and Investment in fixed assets (net) (-€54,546)
- Receivables within one year -€10,224
down €10,224 (-59.3%), from €17,254 to €7,030
of which Trade receivables: -€10,105
- Debts after one year +€122,254
up €122,254 (+752.8%), from €16,239 to €138,493
- Reserves +€49,342
up €49,342 (+104.9%), from €47,047 to €96,389
- Tax, wage and social debts -€13,354
down €13,354 (-48.5%), from €27,552 to €14,198
- Current portion of long-term debt +€11,076
up €11,076 (+189.2%), from €5,854 to €16,930
- Other debts +€5,149
up €5,149 (+20.8%), from €24,789 to €29,938
- Gross operating margin +€55,877
up €55,877 (+201.8%), from €27,683 to €83,560
- Taxes +€12,827
up €12,827 (+229.1%), from €5,600 to €18,427
- Depreciation +€4,797
up €4,797 (+63.6%), from €7,545 to €12,342
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 | €137,287 | €311,467 | +€174,181 | +126.9% |
| Fixed assets | 21/28 | €83,604 | €125,808 | +€42,205 | +50.5% |
| Tangible fixed assets | 22/27 | €43,604 | €45,808 | +€2,205 | +5.1% |
| Furniture and vehicles | 24 | €17,700 | €11,434 | -€6,267 | -35.4% |
| Other tangible fixed assets | 26 | €25,904 | €34,375 | +€8,471 | +32.7% |
| Financial fixed assets | 28 | €40,000 | €80,000 | +€40,000 | +100.0% |
| Current assets | 29/58 | €53,683 | €185,659 | +€131,976 | +245.8% |
| Stocks and contracts in progress | 3 | - | €152,904 | +€152,904 | |
| Stocks | 30/36 | - | €152,904 | +€152,904 | |
| Amounts receivable within one year | 40/41 | €17,254 | €7,030 | -€10,224 | -59.3% |
| Trade receivables | 40 | €17,135 | €7,030 | -€10,105 | -59.0% |
| Other amounts receivable | 41 | €119 | €0 | -€119 | -100.0% |
| Cash at bank and in hand | 54/58 | €35,397 | €24,099 | -€11,298 | -31.9% |
| Deferred charges and accrued income | 490/1 | €1,033 | €1,627 | +€594 | +57.5% |
| Total equity and liabilities | 10/49 | €137,287 | €311,467 | +€174,181 | +126.9% |
| Equity | 10/15 | €52,047 | €101,389 | +€49,342 | +94.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,047 | €96,389 | +€49,342 | +104.9% |
| Distributable reserves | 133 | €47,047 | €96,389 | +€49,342 | +104.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €85,240 | €210,079 | +€124,839 | +146.5% |
| Amounts payable after more than one year | 17 | €16,239 | €138,493 | +€122,254 | +752.8% |
| Financial debts | 170/4 | €16,239 | €138,493 | +€122,254 | +752.8% |
| Amounts payable within one year | 42/48 | €67,698 | €68,595 | +€898 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €5,854 | €16,930 | +€11,076 | +189.2% |
| Financial debts | 43 | - | €676 | +€676 | |
| Credit institutions | 430/8 | - | €676 | +€676 | |
| Trade debts | 44 | €9,503 | €6,855 | -€2,648 | -27.9% |
| Suppliers | 440/4 | €9,503 | €6,855 | -€2,648 | -27.9% |
| Taxes, remuneration and social security | 45 | €27,552 | €14,198 | -€13,354 | -48.5% |
| Taxes | 450/3 | €27,552 | €14,198 | -€13,354 | -48.5% |
| Other amounts payable | 47/48 | €24,789 | €29,938 | +€5,149 | +20.8% |
| Accrued charges and deferred income | 492/3 | €1,303 | €2,991 | +€1,688 | +129.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,545 | €12,342 | +€4,797 | +63.6% |
| Other operating charges | 640/8 | €993 | €893 | -€100 | -10.1% |
| Gross operating margin | 9900 | €27,683 | €83,560 | +€55,877 | +201.8% |
| Operating profit (loss) | 9901 | €19,145 | €70,325 | +€51,180 | +267.3% |
| Financial income | 75/76B | €270 | €254 | -€16 | -6.0% |
| Recurring financial income | 75 | €270 | €254 | -€16 | -6.0% |
| Financial charges | 65/66B | €2,385 | €2,811 | +€426 | +17.9% |
| Recurring financial charges | 65 | €2,385 | €2,811 | +€426 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €17,030 | €67,768 | +€50,738 | +297.9% |
| Income taxes | 67/77 | €5,600 | €18,427 | +€12,827 | +229.1% |
| Profit (loss) for the period | 9904 | €11,431 | €49,342 | +€37,911 | +331.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,431 | €49,342 | +€37,911 | +331.7% |
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 8 October 2026 via checked.be.