CETEBO: 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.
CETEBO
Largest movements
- Receivables within one year -€971,947
down €971,947 (-73.4%), from €1.3m to €351,860
of which Other amounts receivable: -€711,272
- Tangible fixed assets +€955,254
up €955,254 (+42.5%), from €2.2m to €3.2m
of which Land and buildings: +€973,986
- Other debts +€440,947
up €440,947 (+57.6%), from €765,218 to €1.2m
- Trade debts -€408,555
down €408,555 (-89.7%), from €455,645 to €47,089
- Debts after one year -€69,351
down €69,351 (-3.6%), from €1.9m to €1.8m
- Current portion of long-term debt +€61,484
up €61,484 (+13.9%), from €441,663 to €503,147
- Accrued charges and deferred income -€56,695
down €56,695 (-100.0%), from €56,695 to €0
- Gross operating margin +€86,671
up €86,671 (+25.0%), from €347,221 to €433,892
- Depreciation +€21,146
up €21,146 (+8.1%), from €261,459 to €282,605
- Financial income -€17,944
down €17,944 (-88.1%), from €20,364 to €2,419
- Financial charges -€17,349
down €17,349 (-26.6%), from €65,247 to €47,898
- Other operating charges +€14,345
up €14,345 (+37.7%), from €38,073 to €52,419
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 | €4,006,031 | €3,989,077 | -€16,954 | -0.4% |
| Fixed assets | 21/28 | €2,246,414 | €3,201,668 | +€955,254 | +42.5% |
| Tangible fixed assets | 22/27 | €2,246,383 | €3,201,638 | +€955,254 | +42.5% |
| Land and buildings | 22 | €2,172,902 | €3,146,888 | +€973,986 | +44.8% |
| Plant, machinery and equipment | 23 | €69,579 | €51,941 | -€17,638 | -25.3% |
| Furniture and vehicles | 24 | €3,902 | €2,808 | -€1,094 | -28.0% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €1,759,617 | €787,409 | -€972,208 | -55.3% |
| Amounts receivable after more than one year | 29 | €215,000 | €215,000 | = | 0.0% |
| Other amounts receivable | 291 | €215,000 | €215,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,323,807 | €351,860 | -€971,947 | -73.4% |
| Trade receivables | 40 | €315,603 | €54,928 | -€260,675 | -82.6% |
| Other amounts receivable | 41 | €1,008,204 | €296,932 | -€711,272 | -70.5% |
| Current investments | 50/53 | €105 | €105 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,322 | €4,300 | +€1,978 | +85.2% |
| Deferred charges and accrued income | 490/1 | €218,384 | €216,144 | -€2,239 | -1.0% |
| Total equity and liabilities | 10/49 | €4,006,031 | €3,989,077 | -€16,954 | -0.4% |
| Equity | 10/15 | €364,895 | €370,381 | +€5,486 | +1.5% |
| Contributions | 10/11 | €200,855 | €200,855 | = | 0.0% |
| Capital | 10 | €200,855 | €200,855 | = | 0.0% |
| Issued capital | 100 | €200,855 | €200,855 | = | 0.0% |
| Reserves | 13 | €32,742 | €32,742 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,085 | €20,085 | = | 0.0% |
| Legal reserve | 130 | €20,085 | €20,085 | = | 0.0% |
| Distributable reserves | 133 | €12,657 | €12,657 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,298 | €136,784 | +€5,486 | +4.2% |
| Amounts payable | 17/49 | €3,641,136 | €3,618,696 | -€22,440 | -0.6% |
| Amounts payable after more than one year | 17 | €1,909,119 | €1,839,768 | -€69,351 | -3.6% |
| Financial debts | 170/4 | €1,909,119 | €1,839,768 | -€69,351 | -3.6% |
| Amounts payable within one year | 42/48 | €1,675,322 | €1,778,929 | +€103,606 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €441,663 | €503,147 | +€61,484 | +13.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €455,645 | €47,089 | -€408,555 | -89.7% |
| Suppliers | 440/4 | €455,645 | €47,089 | -€408,555 | -89.7% |
| Taxes, remuneration and social security | 45 | €12,797 | €22,527 | +€9,731 | +76.0% |
| Taxes | 450/3 | €12,797 | €22,527 | +€9,731 | +76.0% |
| Other amounts payable | 47/48 | €765,218 | €1,206,165 | +€440,947 | +57.6% |
| Accrued charges and deferred income | 492/3 | €56,695 | €0 | -€56,695 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €261,459 | €282,605 | +€21,146 | +8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,818 | €6,825 | +€6 | +0.1% |
| Other operating charges | 640/8 | €38,073 | €52,419 | +€14,345 | +37.7% |
| Non-recurring operating charges | 66A | -€8,820 | €37,503 | +€46,323 | |
| Gross operating margin | 9900 | €347,221 | €433,892 | +€86,671 | +25.0% |
| Operating profit (loss) | 9901 | €49,690 | €54,541 | +€4,851 | +9.8% |
| Financial income | 75/76B | €20,364 | €2,419 | -€17,944 | -88.1% |
| Recurring financial income | 75 | €20,364 | €2,419 | -€17,944 | -88.1% |
| Financial charges | 65/66B | €65,247 | €47,898 | -€17,349 | -26.6% |
| Recurring financial charges | 65 | €65,247 | €47,898 | -€17,349 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €4,807 | €9,062 | +€4,256 | +88.5% |
| Income taxes | 67/77 | €3,701 | €3,576 | -€125 | -3.4% |
| Profit (loss) for the period | 9904 | €1,106 | €5,486 | +€4,380 | +396.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,106 | €5,486 | +€4,380 | +396.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.