CESAR PALACE: 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.
CESAR PALACE
Largest movements
- Tangible fixed assets +€107,095
up €107,095 (+113%), from €94,883 to €201,978
of which Furniture and vehicles: +€68,951
- Cash -€50,435
down €50,435 (-53.3%), from €94,538 to €44,103
mainly Investment in fixed assets (net) (-€132,163) and Current portion of long-term debt (-€6,541)
- Stocks and contracts -€26,640
down €26,640 (-53.2%), from €50,110 to €23,470
- Receivables within one year -€18,458
down €18,458 (-96.3%), from €19,170 to €712
of which Other amounts receivable: -€13,599
- Profit (loss) carried forward +€13,145
up €13,145 (+17.3%), from €75,869 to €89,014
- Tax, wage and social debts +€7,298
up €7,298 (+582%), from €1,253 to €8,551
of which Remuneration and social security: +€3,677
- Current portion of long-term debt -€6,541
down €6,541 (-51.0%), from €12,832 to €6,291
- Debts after one year -€6,291
down €6,291 (-25.2%), from €24,928 to €18,637
- Gross operating margin +€9,588
up €9,588 (+15.7%), from €61,235 to €70,823
- Depreciation -€2,682
down €2,682 (-9.7%), from €27,615 to €24,933
- Financial charges +€2,086
up €2,086 (+36.6%), from €5,704 to €7,790
- Taxes +€1,630
up €1,630 (+64.2%), from €2,540 to €4,171
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 | €269,184 | €279,051 | +€9,868 | +3.7% |
| Fixed assets | 21/28 | €95,403 | €202,633 | +€107,230 | +112% |
| Tangible fixed assets | 22/27 | €94,883 | €201,978 | +€107,095 | +113% |
| Plant, machinery and equipment | 23 | €69,595 | €92,144 | +€22,549 | +32.4% |
| Furniture and vehicles | 24 | €905 | €69,856 | +€68,951 | +7,616% |
| Other tangible fixed assets | 26 | €24,384 | €39,978 | +€15,595 | +64.0% |
| Financial fixed assets | 28 | €520 | €655 | +€135 | +26.0% |
| Current assets | 29/58 | €173,780 | €76,418 | -€97,362 | -56.0% |
| Stocks and contracts in progress | 3 | €50,110 | €23,470 | -€26,640 | -53.2% |
| Stocks | 30/36 | €50,110 | €23,470 | -€26,640 | -53.2% |
| Amounts receivable within one year | 40/41 | €19,170 | €712 | -€18,458 | -96.3% |
| Trade receivables | 40 | €5,471 | €612 | -€4,859 | -88.8% |
| Other amounts receivable | 41 | €13,699 | €100 | -€13,599 | -99.3% |
| Cash at bank and in hand | 54/58 | €94,538 | €44,103 | -€50,435 | -53.3% |
| Deferred charges and accrued income | 490/1 | €9,962 | €8,133 | -€1,829 | -18.4% |
| Total equity and liabilities | 10/49 | €269,184 | €279,051 | +€9,868 | +3.7% |
| Equity | 10/15 | €97,744 | €110,417 | +€12,673 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,275 | €2,803 | -€472 | -14.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,415 | €943 | -€472 | -33.3% |
| Profit (loss) carried forward | 14 | €75,869 | €89,014 | +€13,145 | +17.3% |
| Provisions and deferred taxes | 16 | €729 | €486 | -€243 | -33.3% |
| Deferred taxes | 168 | €729 | €486 | -€243 | -33.3% |
| Amounts payable | 17/49 | €170,711 | €168,148 | -€2,563 | -1.5% |
| Amounts payable after more than one year | 17 | €24,928 | €18,637 | -€6,291 | -25.2% |
| Financial debts | 170/4 | €24,928 | €18,637 | -€6,291 | -25.2% |
| Amounts payable within one year | 42/48 | €145,783 | €149,511 | +€3,728 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €12,832 | €6,291 | -€6,541 | -51.0% |
| Trade debts | 44 | €3,509 | €5,584 | +€2,075 | +59.1% |
| Suppliers | 440/4 | €3,509 | €5,584 | +€2,075 | +59.1% |
| Taxes, remuneration and social security | 45 | €1,253 | €8,551 | +€7,298 | +582% |
| Taxes | 450/3 | €1,253 | €4,874 | +€3,620 | +289% |
| Remuneration and social security | 454/9 | - | €3,677 | +€3,677 | |
| Other amounts payable | 47/48 | €128,190 | €129,086 | +€896 | +0.7% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €4,956 | €4,884 | -€73 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,615 | €24,933 | -€2,682 | -9.7% |
| Other operating charges | 640/8 | €14,313 | €14,232 | -€81 | -0.6% |
| Non-recurring operating charges | 66A | - | €2,384 | +€2,384 | |
| Gross operating margin | 9900 | €61,235 | €70,823 | +€9,588 | +15.7% |
| Operating profit (loss) | 9901 | €14,350 | €24,391 | +€10,041 | +70.0% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.6% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.6% |
| Financial charges | 65/66B | €5,704 | €7,790 | +€2,086 | +36.6% |
| Recurring financial charges | 65 | €5,704 | €7,790 | +€2,086 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €8,651 | €16,601 | +€7,950 | +91.9% |
| Transfer from deferred taxes | 780 | €243 | €243 | = | 0.0% |
| Income taxes | 67/77 | €2,540 | €4,171 | +€1,630 | +64.2% |
| Profit (loss) for the period | 9904 | €6,353 | €12,673 | +€6,320 | +99.5% |
| Transfer from tax-exempt reserves | 789 | €472 | €472 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,825 | €13,145 | +€6,320 | +92.6% |
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 23 October 2026 via checked.be.