@CETERA: 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.
@CETERA
Largest movements
- Tangible fixed assets +€24,343
up €24,343 (+184%), from €13,261 to €37,604
of which Furniture and vehicles: +€25,804
- Receivables within one year +€17,653
up €17,653 (+54.4%), from €32,436 to €50,089
of which Other amounts receivable: +€12,993
- Current investments -€17,524
down €17,524 (-7.0%), from €251,751 to €234,227
- Cash -€5,000
down €5,000 (-99.6%), from €5,020 to €20
mainly Investment in fixed assets (net) (-€30,574) and Receivables within one year (-€17,653)
- Debts after one year +€13,438
new in 2025: €13,438
- Reserves +€5,863
up €5,863 (+16.8%), from €34,801 to €40,664
of which Distributable reserves: +€5,863
- Tax, wage and social debts -€3,469
down €3,469 (-63.4%), from €5,469 to €2,000
of which Taxes: -€2,008
- Gross operating margin -€11,481
down €11,481 (-41.8%), from €27,474 to €15,993
- Financial income +€8,205
up €8,205 (+32,599%), from €25 to €8,230
- Depreciation +€1,743
up €1,743 (+38.9%), from €4,487 to €6,231
- Taxes -€950
down €950 (-11.9%), from €7,950 to €7,000
- Financial charges -€365
down €365 (-8.5%), from €4,320 to €3,955
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 | €302,715 | €322,337 | +€19,623 | +6.5% |
| Fixed assets | 21/28 | €13,261 | €37,604 | +€24,343 | +184% |
| Tangible fixed assets | 22/27 | €13,261 | €37,604 | +€24,343 | +184% |
| Plant, machinery and equipment | 23 | €5,249 | €3,787 | -€1,461 | -27.8% |
| Furniture and vehicles | 24 | €8,012 | €33,816 | +€25,804 | +322% |
| Current assets | 29/58 | €289,454 | €284,734 | -€4,720 | -1.6% |
| Amounts receivable within one year | 40/41 | €32,436 | €50,089 | +€17,653 | +54.4% |
| Trade receivables | 40 | €25,200 | €29,860 | +€4,660 | +18.5% |
| Other amounts receivable | 41 | €7,236 | €20,229 | +€12,993 | +180% |
| Current investments | 50/53 | €251,751 | €234,227 | -€17,524 | -7.0% |
| Cash at bank and in hand | 54/58 | €5,020 | €20 | -€5,000 | -99.6% |
| Deferred charges and accrued income | 490/1 | €247 | €397 | +€150 | +60.9% |
| Total equity and liabilities | 10/49 | €302,715 | €322,337 | +€19,623 | +6.5% |
| Equity | 10/15 | €291,001 | €296,864 | +€5,863 | +2.0% |
| Contributions | 10/11 | €256,200 | €256,200 | = | 0.0% |
| Reserves | 13 | €34,801 | €40,664 | +€5,863 | +16.8% |
| Non-distributable reserves | 130/1 | €7,510 | €7,510 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,510 | €7,510 | = | 0.0% |
| Distributable reserves | 133 | €27,291 | €33,154 | +€5,863 | +21.5% |
| Amounts payable | 17/49 | €11,714 | €25,473 | +€13,760 | +117% |
| Amounts payable after more than one year | 17 | - | €13,438 | +€13,438 | |
| Financial debts | 170/4 | - | €13,438 | +€13,438 | |
| Amounts payable within one year | 42/48 | €11,714 | €12,035 | +€321 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | - | €1,683 | +€1,683 | |
| Financial debts | 43 | €1,050 | €2,153 | +€1,103 | +105% |
| Credit institutions | 430/8 | €1,050 | €2,153 | +€1,103 | +105% |
| Trade debts | 44 | €5,149 | €6,198 | +€1,049 | +20.4% |
| Suppliers | 440/4 | €5,149 | €6,198 | +€1,049 | +20.4% |
| Taxes, remuneration and social security | 45 | €5,469 | €2,000 | -€3,469 | -63.4% |
| Taxes | 450/3 | €4,009 | €2,000 | -€2,008 | -50.1% |
| Remuneration and social security | 454/9 | €1,460 | - | -€1,460 | |
| Other amounts payable | 47/48 | €46 | - | -€46 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,487 | €6,231 | +€1,743 | +38.9% |
| Other operating charges | 640/8 | €1,186 | €1,175 | -€11 | -1.0% |
| Gross operating margin | 9900 | €27,474 | €15,993 | -€11,481 | -41.8% |
| Operating profit (loss) | 9901 | €21,800 | €8,588 | -€13,213 | -60.6% |
| Financial income | 75/76B | €25 | €8,230 | +€8,205 | +32,599% |
| Recurring financial income | 75 | €25 | €8,230 | +€8,205 | +32,599% |
| Financial charges | 65/66B | €4,320 | €3,955 | -€365 | -8.5% |
| Recurring financial charges | 65 | €4,320 | €3,955 | -€365 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €17,506 | €12,864 | -€4,642 | -26.5% |
| Income taxes | 67/77 | €7,950 | €7,000 | -€950 | -11.9% |
| Profit (loss) for the period | 9904 | €9,555 | €5,863 | -€3,692 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,555 | €5,863 | -€3,692 | -38.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.