CESARE: 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.
CESARE
Largest movements
- Tangible fixed assets +€45,785
up €45,785 (+157.0%), from €29,171 to €74,956
of which Furniture and vehicles: +€52,923
- Receivables within one year +€13,528
up €13,528 (+67.8%), from €19,955 to €33,483
of which Trade receivables: +€16,053
- Cash -€5,549
down €5,549 (-14.9%), from €37,328 to €31,779
mainly Investment in fixed assets (net) (-€63,816) and Contributions, distributions and other (-€20,000)
- Debts after one year +€25,928
new in 2025: €25,928
- Reserves +€15,000
up €15,000 (+24.0%), from €62,435 to €77,435
- Current portion of long-term debt +€10,931
new in 2025: €10,931
- Gross operating margin +€13,914
up €13,914 (+25.3%), from €54,976 to €68,889
- Depreciation +€7,998
up €7,998 (+79.7%), from €10,033 to €18,031
- Financial charges +€1,211
up €1,211 (+699.5%), from €173 to €1,384
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 | €90,752 | €144,002 | +€53,250 | +58.7% |
| Fixed assets | 21/28 | €30,421 | €76,206 | +€45,785 | +150.5% |
| Tangible fixed assets | 22/27 | €29,171 | €74,956 | +€45,785 | +157.0% |
| Plant, machinery and equipment | 23 | €4,045 | €2,492 | -€1,553 | -38.4% |
| Furniture and vehicles | 24 | €2,737 | €55,660 | +€52,923 | +1933.5% |
| Other tangible fixed assets | 26 | €22,388 | €16,803 | -€5,585 | -24.9% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €60,332 | €67,797 | +€7,465 | +12.4% |
| Amounts receivable within one year | 40/41 | €19,955 | €33,483 | +€13,528 | +67.8% |
| Trade receivables | 40 | €6,920 | €22,973 | +€16,053 | +232.0% |
| Other amounts receivable | 41 | €13,035 | €10,509 | -€2,525 | -19.4% |
| Cash at bank and in hand | 54/58 | €37,328 | €31,779 | -€5,549 | -14.9% |
| Deferred charges and accrued income | 490/1 | €3,049 | €2,535 | -€514 | -16.8% |
| Total equity and liabilities | 10/49 | €90,752 | €144,002 | +€53,250 | +58.7% |
| Equity | 10/15 | €66,673 | €82,226 | +€15,553 | +23.3% |
| Reserves | 13 | €62,435 | €77,435 | +€15,000 | +24.0% |
| Distributable reserves | 133 | €62,435 | €77,435 | +€15,000 | +24.0% |
| Profit (loss) carried forward | 14 | €4,238 | €4,791 | +€553 | +13.0% |
| Amounts payable | 17/49 | €24,079 | €61,776 | +€37,697 | +156.6% |
| Amounts payable after more than one year | 17 | - | €25,928 | +€25,928 | |
| Financial debts | 170/4 | - | €25,928 | +€25,928 | |
| Amounts payable within one year | 42/48 | €24,079 | €35,848 | +€11,769 | +48.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,931 | +€10,931 | |
| Trade debts | 44 | - | €983 | +€983 | |
| Suppliers | 440/4 | - | €983 | +€983 | |
| Taxes, remuneration and social security | 45 | €10,079 | €9,935 | -€144 | -1.4% |
| Taxes | 450/3 | €10,079 | €9,935 | -€144 | -1.4% |
| Other amounts payable | 47/48 | €14,000 | €14,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,033 | €18,031 | +€7,998 | +79.7% |
| Other operating charges | 640/8 | €586 | €857 | +€271 | +46.1% |
| Gross operating margin | 9900 | €54,976 | €68,889 | +€13,914 | +25.3% |
| Operating profit (loss) | 9901 | €44,357 | €50,001 | +€5,645 | +12.7% |
| Financial income | 75/76B | €643 | €622 | -€20 | -3.2% |
| Recurring financial income | 75 | €643 | €622 | -€20 | -3.2% |
| Financial charges | 65/66B | €173 | €1,384 | +€1,211 | +699.5% |
| Recurring financial charges | 65 | €173 | €1,384 | +€1,211 | +699.5% |
| Profit (loss) for the period before taxes | 9903 | €44,826 | €49,240 | +€4,414 | +9.8% |
| Income taxes | 67/77 | €14,079 | €13,687 | -€392 | -2.8% |
| Profit (loss) for the period | 9904 | €30,747 | €35,553 | +€4,806 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,747 | €35,553 | +€4,806 | +15.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.