CESD CONSULTING: 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.
CESD CONSULTING
Largest movements
- Tangible fixed assets -€12,740
down €12,740 (-28.2%), from €45,232 to €32,492
of which Furniture and vehicles: -€12,582
- Receivables within one year +€5,815
up €5,815 (+28.3%), from €20,514 to €26,329
of which Trade receivables: +€5,659
- Cash -€3,978
down €3,978 (-12.1%), from €32,935 to €28,958
mainly Debts after one year (-€8,557) and Receivables within one year (-€5,815)
- Debts after one year -€8,557
down €8,557 (-25.6%), from €33,419 to €24,862
- Profit (loss) carried forward -€6,474
down €6,474 (-26.8%), from €24,160 to €17,685
- Trade debts +€5,680
up €5,680 (+55.8%), from €10,175 to €15,855
- Tax, wage and social debts -€2,535
down €2,535 (-35.3%), from €7,173 to €4,638
- Gross operating margin +€10,881
up €10,881, from -€831 to €10,049
- Other operating charges -€2,921
down €2,921 (-68.0%), from €4,296 to €1,375
- Depreciation -€388
down €388 (-3.0%), from €13,127 to €12,740
- Financial charges -€268
down €268 (-16.5%), from €1,625 to €1,357
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 | €104,545 | €93,809 | -€10,736 | -10.3% |
| Fixed assets | 21/28 | €45,257 | €32,517 | -€12,740 | -28.1% |
| Tangible fixed assets | 22/27 | €45,232 | €32,492 | -€12,740 | -28.2% |
| Plant, machinery and equipment | 23 | €1,304 | €1,146 | -€158 | -12.1% |
| Furniture and vehicles | 24 | €43,928 | €31,346 | -€12,582 | -28.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €59,288 | €61,292 | +€2,003 | +3.4% |
| Amounts receivable within one year | 40/41 | €20,514 | €26,329 | +€5,815 | +28.3% |
| Trade receivables | 40 | €15,926 | €21,585 | +€5,659 | +35.5% |
| Other amounts receivable | 41 | €4,588 | €4,744 | +€155 | +3.4% |
| Cash at bank and in hand | 54/58 | €32,935 | €28,958 | -€3,978 | -12.1% |
| Deferred charges and accrued income | 490/1 | €5,839 | €6,006 | +€166 | +2.8% |
| Total equity and liabilities | 10/49 | €104,545 | €93,809 | -€10,736 | -10.3% |
| Equity | 10/15 | €44,620 | €38,145 | -€6,474 | -14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,160 | €17,685 | -€6,474 | -26.8% |
| Amounts payable | 17/49 | €59,925 | €55,663 | -€4,262 | -7.1% |
| Amounts payable after more than one year | 17 | €33,419 | €24,862 | -€8,557 | -25.6% |
| Financial debts | 170/4 | €33,419 | €24,862 | -€8,557 | -25.6% |
| Amounts payable within one year | 42/48 | €26,507 | €30,802 | +€4,295 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €8,309 | €8,557 | +€248 | +3.0% |
| Financial debts | 43 | €267 | €233 | -€34 | -12.8% |
| Credit institutions | 430/8 | €267 | €233 | -€34 | -12.8% |
| Trade debts | 44 | €10,175 | €15,855 | +€5,680 | +55.8% |
| Suppliers | 440/4 | €10,175 | €15,855 | +€5,680 | +55.8% |
| Taxes, remuneration and social security | 45 | €7,173 | €4,638 | -€2,535 | -35.3% |
| Taxes | 450/3 | €7,173 | €4,638 | -€2,535 | -35.3% |
| Other amounts payable | 47/48 | €583 | €1,520 | +€937 | +161% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,127 | €12,740 | -€388 | -3.0% |
| Other operating charges | 640/8 | €4,296 | €1,375 | -€2,921 | -68.0% |
| Gross operating margin | 9900 | -€831 | €10,049 | +€10,881 | |
| Operating profit (loss) | 9901 | -€18,255 | -€4,066 | +€14,189 | +77.7% |
| Financial income | 75/76B | €25 | €100 | +€75 | +298% |
| Recurring financial income | 75 | €25 | €100 | +€75 | +298% |
| Financial charges | 65/66B | €1,625 | €1,357 | -€268 | -16.5% |
| Recurring financial charges | 65 | €1,625 | €1,357 | -€268 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | -€19,855 | -€5,323 | +€14,532 | +73.2% |
| Income taxes | 67/77 | €356 | €318 | -€38 | -10.6% |
| Profit (loss) for the period | 9904 | -€20,211 | -€5,641 | +€14,569 | +72.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,211 | -€5,641 | +€14,569 | +72.1% |
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 17 October 2026 via checked.be.