CESI 4: 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.
CESI 4
Largest movements
- Cash +€8,035
up €8,035 (+255%), from €3,150 to €11,185
mainly Net result for the year (+€20,347) and Trade debts (+€2,627)
- Receivables within one year +€6,001
new in 2025: €6,001
- Deferred charges and accrued income -€931
no longer reported in 2025 (was €931)
- Tangible fixed assets -€320
down €320 (-75.0%), from €427 to €107
of which Plant, machinery and equipment: -€320
- Profit (loss) carried forward +€20,347
up €20,347 (+21.0%), from -€96,928 to -€76,581
- Other debts -€10,450
down €10,450 (-52.1%), from €20,074 to €9,624
- Trade debts +€2,627
up €2,627 (+618%), from €425 to €3,052
- Tax, wage and social debts +€261
new in 2025: €261
- Gross operating margin +€24,630
up €24,630, from -€2,417 to €22,213
- Other operating charges +€1,190
new in 2025: €1,190
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 | €6,571 | €19,356 | +€12,785 | +195% |
| Fixed assets | 21/28 | €2,490 | €2,170 | -€320 | -12.9% |
| Tangible fixed assets | 22/27 | €427 | €107 | -€320 | -75.0% |
| Plant, machinery and equipment | 23 | €427 | €107 | -€320 | -75.0% |
| Other tangible fixed assets | 26 | €0 | €0 | = | 0.0% |
| Financial fixed assets | 28 | €2,063 | €2,063 | = | 0.0% |
| Current assets | 29/58 | €4,081 | €17,186 | +€13,105 | +321% |
| Amounts receivable within one year | 40/41 | - | €6,001 | +€6,001 | |
| Trade receivables | 40 | - | €6,001 | +€6,001 | |
| Cash at bank and in hand | 54/58 | €3,150 | €11,185 | +€8,035 | +255% |
| Deferred charges and accrued income | 490/1 | €931 | - | -€931 | |
| Total equity and liabilities | 10/49 | €6,571 | €19,356 | +€12,785 | +195% |
| Equity | 10/15 | -€71,928 | -€51,581 | +€20,347 | +28.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,928 | -€76,581 | +€20,347 | +21.0% |
| Amounts payable | 17/49 | €78,499 | €70,937 | -€7,562 | -9.6% |
| Amounts payable after more than one year | 17 | €58,000 | €58,000 | = | 0.0% |
| Other amounts payable | 178/9 | €58,000 | €58,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,499 | €12,937 | -€7,562 | -36.9% |
| Trade debts | 44 | €425 | €3,052 | +€2,627 | +618% |
| Suppliers | 440/4 | €425 | €3,052 | +€2,627 | +618% |
| Taxes, remuneration and social security | 45 | - | €261 | +€261 | |
| Taxes | 450/3 | - | €261 | +€261 | |
| Other amounts payable | 47/48 | €20,074 | €9,624 | -€10,450 | -52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €320 | €320 | = | 0.0% |
| Other operating charges | 640/8 | - | €1,190 | +€1,190 | |
| Gross operating margin | 9900 | -€2,417 | €22,213 | +€24,630 | |
| Operating profit (loss) | 9901 | -€2,737 | €20,703 | +€23,440 | |
| Financial charges | 65/66B | €180 | €357 | +€176 | +98.0% |
| Recurring financial charges | 65 | €180 | €357 | +€176 | +98.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,917 | €20,347 | +€23,264 | |
| Profit (loss) for the period | 9904 | -€2,917 | €20,347 | +€23,264 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,917 | €20,347 | +€23,264 |
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 13 October 2026 via checked.be.