Cesiel: 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.
Cesiel
Largest movements
- Tangible fixed assets -€26,440
down €26,440 (-3.0%), from €895,568 to €869,129
- Debts after one year -€40,551
down €40,551 (-4.6%), from €883,253 to €842,702
- Profit (loss) carried forward +€21,993
up €21,993 (+36.1%), from -€60,937 to -€38,943
- Gross operating margin +€3,838
up €3,838 (+6.9%), from €55,659 to €59,496
- Depreciation +€1,293
up €1,293 (+5.1%), from €25,146 to €26,440
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 | €898,422 | €880,310 | -€18,111 | -2.0% |
| Fixed assets | 21/28 | €895,568 | €869,129 | -€26,440 | -3.0% |
| Tangible fixed assets | 22/27 | €895,568 | €869,129 | -€26,440 | -3.0% |
| Land and buildings | 22 | €895,568 | €869,129 | -€26,440 | -3.0% |
| Current assets | 29/58 | €2,853 | €11,182 | +€8,329 | +291.9% |
| Amounts receivable within one year | 40/41 | €381 | €381 | = | 0.0% |
| Other amounts receivable | 41 | €381 | €381 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,472 | €10,801 | +€8,329 | +336.9% |
| Total equity and liabilities | 10/49 | €898,422 | €880,310 | -€18,111 | -2.0% |
| Equity | 10/15 | -€24,937 | -€2,943 | +€21,993 | +88.2% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,937 | -€38,943 | +€21,993 | +36.1% |
| Amounts payable | 17/49 | €923,358 | €883,253 | -€40,105 | -4.3% |
| Amounts payable after more than one year | 17 | €883,253 | €842,702 | -€40,551 | -4.6% |
| Financial debts | 170/4 | €883,253 | €842,702 | -€40,551 | -4.6% |
| Amounts payable within one year | 42/48 | €40,105 | €40,551 | +€447 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €40,105 | €40,551 | +€447 | +1.1% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,146 | €26,440 | +€1,293 | +5.1% |
| Other operating charges | 640/8 | €1,172 | €1,208 | +€36 | +3.1% |
| Gross operating margin | 9900 | €55,659 | €59,496 | +€3,838 | +6.9% |
| Operating profit (loss) | 9901 | €29,340 | €31,848 | +€2,508 | +8.5% |
| Financial charges | 65/66B | €10,316 | €9,855 | -€461 | -4.5% |
| Recurring financial charges | 65 | €10,316 | €9,855 | -€461 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €19,025 | €21,993 | +€2,968 | +15.6% |
| Profit (loss) for the period | 9904 | €19,025 | €21,993 | +€2,968 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,025 | €21,993 | +€2,968 | +15.6% |
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 2 October 2026 via checked.be.