CETEC: 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.
CETEC
Largest movements
- Stocks and contracts +€29,412
new in 2025: €29,412
- Receivables within one year -€17,855
down €17,855 (-55.7%), from €32,034 to €14,180
of which Trade receivables: -€21,063
- Cash +€9,017
up €9,017 (+57.4%), from €15,711 to €24,728
mainly Other debts (+€24,705) and Receivables within one year (+€17,855)
- Other debts +€24,705
up €24,705 (+114.7%), from €21,532 to €46,238
- Trade debts +€13,391
up €13,391 (+111.4%), from €12,016 to €25,407
- Reserves -€8,061
down €8,061 (-45.4%), from €17,773 to €9,712
- Debts after one year -€6,668
down €6,668 (-5.9%), from €113,450 to €106,782
- Gross operating margin -€26,143
down €26,143 (-86.7%), from €30,138 to €3,995
- Depreciation +€2,218
up €2,218 (+50.3%), from €4,406 to €6,624
- Taxes -€1,790
down €1,790 (-93.5%), from €1,913 to €124
- Financial charges -€1,560
down €1,560 (-27.3%), from €5,719 to €4,159
- Other operating charges +€849
up €849 (+162.2%), from €523 to €1,372
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 | €176,089 | €198,288 | +€22,199 | +12.6% |
| Fixed assets | 21/28 | €128,344 | €129,968 | +€1,624 | +1.3% |
| Tangible fixed assets | 22/27 | €128,344 | €129,968 | +€1,624 | +1.3% |
| Land and buildings | 22 | €123,131 | €123,319 | +€187 | +0.2% |
| Plant, machinery and equipment | 23 | €5,213 | €6,650 | +€1,437 | +27.6% |
| Current assets | 29/58 | €47,745 | €68,320 | +€20,574 | +43.1% |
| Stocks and contracts in progress | 3 | - | €29,412 | +€29,412 | |
| Stocks | 30/36 | - | €29,412 | +€29,412 | |
| Amounts receivable within one year | 40/41 | €32,034 | €14,180 | -€17,855 | -55.7% |
| Trade receivables | 40 | €26,571 | €5,508 | -€21,063 | -79.3% |
| Other amounts receivable | 41 | €5,463 | €8,671 | +€3,208 | +58.7% |
| Cash at bank and in hand | 54/58 | €15,711 | €24,728 | +€9,017 | +57.4% |
| Total equity and liabilities | 10/49 | €176,089 | €198,288 | +€22,199 | +12.6% |
| Equity | 10/15 | €20,773 | €12,712 | -€8,061 | -38.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,773 | €9,712 | -€8,061 | -45.4% |
| Distributable reserves | 133 | €17,773 | €9,712 | -€8,061 | -45.4% |
| Amounts payable | 17/49 | €155,316 | €185,576 | +€30,260 | +19.5% |
| Amounts payable after more than one year | 17 | €113,450 | €106,782 | -€6,668 | -5.9% |
| Financial debts | 170/4 | €113,450 | €106,782 | -€6,668 | -5.9% |
| Amounts payable within one year | 42/48 | €41,866 | €78,794 | +€36,928 | +88.2% |
| Current portion of amounts payable after more than one year | 42 | €6,404 | €5,096 | -€1,308 | -20.4% |
| Trade debts | 44 | €12,016 | €25,407 | +€13,391 | +111.4% |
| Suppliers | 440/4 | €12,016 | €25,407 | +€13,391 | +111.4% |
| Taxes, remuneration and social security | 45 | €1,913 | €2,053 | +€140 | +7.3% |
| Taxes | 450/3 | €1,913 | €2,053 | +€140 | +7.3% |
| Other amounts payable | 47/48 | €21,532 | €46,238 | +€24,705 | +114.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,406 | €6,624 | +€2,218 | +50.3% |
| Other operating charges | 640/8 | €523 | €1,372 | +€849 | +162.2% |
| Gross operating margin | 9900 | €30,138 | €3,995 | -€26,143 | -86.7% |
| Operating profit (loss) | 9901 | €25,208 | -€4,001 | -€29,210 | |
| Financial income | 75/76B | €198 | €223 | +€25 | +12.8% |
| Recurring financial income | 75 | €198 | €223 | +€25 | +12.8% |
| Financial charges | 65/66B | €5,719 | €4,159 | -€1,560 | -27.3% |
| Recurring financial charges | 65 | €5,719 | €4,159 | -€1,560 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €19,687 | -€7,938 | -€27,625 | |
| Income taxes | 67/77 | €1,913 | €124 | -€1,790 | -93.5% |
| Profit (loss) for the period | 9904 | €17,773 | -€8,061 | -€25,835 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,773 | -€8,061 | -€25,835 |
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 12 October 2026 via checked.be.