CETA Advisory: 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.
CETA Advisory
Largest movements
- Tangible fixed assets -€31,454
down €31,454 (-11.9%), from €263,977 to €232,523
of which Furniture and vehicles: -€22,295
- Cash -€24,835
down €24,835 (-62.5%), from €39,736 to €14,900
mainly Contributions, distributions and other (-€66,701) and Debts after one year (-€29,373)
- Reserves -€66,701
down €66,701 (-100%), from €66,701 to €0
- Other debts +€49,490
up €49,490 (+175%), from €28,249 to €77,739
- Debts after one year -€29,373
down €29,373 (-18.7%), from €157,013 to €127,640
- Profit (loss) carried forward -€12,084
down €12,084, from €0 to -€12,084
- Tax, wage and social debts -€5,180
down €5,180 (-62.4%), from €8,295 to €3,115
- Gross operating margin -€71,120
down €71,120 (-76.2%), from €93,371 to €22,251
- Taxes -€13,792
down €13,792 (-87.9%), from €15,693 to €1,901
- Depreciation +€7,916
up €7,916 (+33.6%), from €23,538 to €31,454
- Financial income +€6,093
up €6,093 (+98,597%), from €6 to €6,099
- Financial charges -€1,944
down €1,944 (-25.3%), from €7,692 to €5,749
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 | €317,641 | €258,840 | -€58,801 | -18.5% |
| Fixed assets | 21/28 | €263,977 | €232,523 | -€31,454 | -11.9% |
| Tangible fixed assets | 22/27 | €263,977 | €232,523 | -€31,454 | -11.9% |
| Land and buildings | 22 | €166,659 | €160,408 | -€6,251 | -3.8% |
| Plant, machinery and equipment | 23 | €474 | €39 | -€434 | -91.7% |
| Furniture and vehicles | 24 | €90,897 | €68,602 | -€22,295 | -24.5% |
| Other tangible fixed assets | 26 | €5,947 | €3,473 | -€2,474 | -41.6% |
| Current assets | 29/58 | €53,665 | €26,318 | -€27,347 | -51.0% |
| Amounts receivable within one year | 40/41 | €5,326 | €4,723 | -€603 | -11.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,326 | €4,723 | -€603 | -11.3% |
| Current investments | 50/53 | €2,583 | €2,333 | -€250 | -9.7% |
| Cash at bank and in hand | 54/58 | €39,736 | €14,900 | -€24,835 | -62.5% |
| Deferred charges and accrued income | 490/1 | €6,020 | €4,361 | -€1,659 | -27.6% |
| Total equity and liabilities | 10/49 | €317,641 | €258,840 | -€58,801 | -18.5% |
| Equity | 10/15 | €85,301 | €6,516 | -€78,785 | -92.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,701 | €0 | -€66,701 | -100% |
| Distributable reserves | 133 | €66,701 | €0 | -€66,701 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€12,084 | -€12,084 | |
| Amounts payable | 17/49 | €232,341 | €252,324 | +€19,984 | +8.6% |
| Amounts payable after more than one year | 17 | €157,013 | €127,640 | -€29,373 | -18.7% |
| Financial debts | 170/4 | €157,013 | €127,640 | -€29,373 | -18.7% |
| Amounts payable within one year | 42/48 | €75,327 | €124,684 | +€49,357 | +65.5% |
| Current portion of amounts payable after more than one year | 42 | €28,393 | €29,373 | +€980 | +3.5% |
| Financial debts | 43 | €28 | €117 | +€89 | +317% |
| Credit institutions | 430/8 | €28 | €117 | +€89 | +317% |
| Trade debts | 44 | €10,362 | €14,341 | +€3,978 | +38.4% |
| Suppliers | 440/4 | €10,362 | €14,341 | +€3,978 | +38.4% |
| Taxes, remuneration and social security | 45 | €8,295 | €3,115 | -€5,180 | -62.4% |
| Taxes | 450/3 | €8,295 | €3,115 | -€5,180 | -62.4% |
| Other amounts payable | 47/48 | €28,249 | €77,739 | +€49,490 | +175% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,538 | €31,454 | +€7,916 | +33.6% |
| Other operating charges | 640/8 | €3,228 | €1,331 | -€1,897 | -58.8% |
| Non-recurring operating charges | 66A | €6,562 | €0 | -€6,562 | -100% |
| Gross operating margin | 9900 | €93,371 | €22,251 | -€71,120 | -76.2% |
| Operating profit (loss) | 9901 | €60,044 | -€10,534 | -€70,578 | |
| Financial income | 75/76B | €6 | €6,099 | +€6,093 | +98,597% |
| Recurring financial income | 75 | €6 | €6,099 | +€6,093 | +98,597% |
| Financial charges | 65/66B | €7,692 | €5,749 | -€1,944 | -25.3% |
| Recurring financial charges | 65 | €7,692 | €5,749 | -€1,944 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €52,358 | -€10,183 | -€62,541 | |
| Income taxes | 67/77 | €15,693 | €1,901 | -€13,792 | -87.9% |
| Profit (loss) for the period | 9904 | €36,665 | -€12,084 | -€48,749 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,665 | -€12,084 | -€48,749 |
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 27 October 2026 via checked.be.