CeSou: 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.
CeSou
Largest movements
- Cash -€44,697
down €44,697 (-18.0%), from €247,713 to €203,017
mainly Contributions, distributions and other (-€247,718) and Tax, wage and social debts (-€43,025)
- Tangible fixed assets -€11,358
down €11,358 (-22.5%), from €50,546 to €39,188
of which Furniture and vehicles: -€10,984
- Reserves -€140,261
down €140,261 (-56.6%), from €247,718 to €107,457
- Other debts +€124,798
up €124,798, from €0 to €124,798
- Tax, wage and social debts -€43,025
down €43,025 (-66.8%), from €64,393 to €21,368
- Gross operating margin +€11,737
up €11,737 (+8.0%), from €146,407 to €158,143
- Financial charges +€7,142
up €7,142 (+5,074%), from €141 to €7,282
- Taxes +€1,724
up €1,724 (+5.9%), from €29,421 to €31,145
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 | €318,497 | €261,054 | -€57,443 | -18.0% |
| Fixed assets | 21/28 | €50,546 | €39,188 | -€11,358 | -22.5% |
| Tangible fixed assets | 22/27 | €50,546 | €39,188 | -€11,358 | -22.5% |
| Plant, machinery and equipment | 23 | €1,548 | €1,174 | -€374 | -24.1% |
| Furniture and vehicles | 24 | €48,998 | €38,014 | -€10,984 | -22.4% |
| Current assets | 29/58 | €267,951 | €221,866 | -€46,085 | -17.2% |
| Amounts receivable within one year | 40/41 | €18,843 | €17,429 | -€1,414 | -7.5% |
| Trade receivables | 40 | €16,970 | €17,429 | +€459 | +2.7% |
| Other amounts receivable | 41 | €1,872 | €0 | -€1,872 | -100% |
| Cash at bank and in hand | 54/58 | €247,713 | €203,017 | -€44,697 | -18.0% |
| Deferred charges and accrued income | 490/1 | €1,395 | €1,421 | +€26 | +1.9% |
| Total equity and liabilities | 10/49 | €318,497 | €261,054 | -€57,443 | -18.0% |
| Equity | 10/15 | €252,718 | €112,457 | -€140,261 | -55.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €247,718 | €107,457 | -€140,261 | -56.6% |
| Distributable reserves | 133 | €247,718 | €107,457 | -€140,261 | -56.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €65,779 | €148,597 | +€82,818 | +126% |
| Amounts payable within one year | 42/48 | €65,719 | €148,597 | +€82,878 | +126% |
| Trade debts | 44 | €1,326 | €2,431 | +€1,105 | +83.3% |
| Suppliers | 440/4 | €1,326 | €2,431 | +€1,105 | +83.3% |
| Taxes, remuneration and social security | 45 | €64,393 | €21,368 | -€43,025 | -66.8% |
| Taxes | 450/3 | €64,393 | €21,368 | -€43,025 | -66.8% |
| Other amounts payable | 47/48 | €0 | €124,798 | +€124,798 | |
| Accrued charges and deferred income | 492/3 | €60 | €0 | -€60 | -100% |
| Non-recurring operating income | 76A | €4,913 | €0 | -€4,913 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,194 | €12,697 | +€1,503 | +13.4% |
| Other operating charges | 640/8 | €551 | €919 | +€368 | +66.7% |
| Gross operating margin | 9900 | €146,407 | €158,143 | +€11,737 | +8.0% |
| Operating profit (loss) | 9901 | €134,662 | €144,527 | +€9,866 | +7.3% |
| Financial income | 75/76B | €1,218 | €1,358 | +€140 | +11.5% |
| Recurring financial income | 75 | €1,218 | €1,358 | +€140 | +11.5% |
| Financial charges | 65/66B | €141 | €7,282 | +€7,142 | +5,074% |
| Recurring financial charges | 65 | €141 | €7,282 | +€7,142 | +5,074% |
| Profit (loss) for the period before taxes | 9903 | €135,739 | €138,603 | +€2,864 | +2.1% |
| Income taxes | 67/77 | €29,421 | €31,145 | +€1,724 | +5.9% |
| Profit (loss) for the period | 9904 | €106,318 | €107,457 | +€1,140 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €106,318 | €107,457 | +€1,140 | +1.1% |
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 13 October 2026 via checked.be.