CEUSTERMANS BART: 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.
CEUSTERMANS BART
Largest movements
- Current investments -€1.8m
down €1.8m (-43.0%), from €4.1m to €2.3m
- Cash +€1.6m
up €1.6m (+276.5%), from €590,151 to €2.2m
mainly Current investments (+€1.8m) and Net result for the year (+€154,004)
- Receivables within one year +€61,541
up €61,541 (+42.9%), from €143,513 to €205,054
of which Other amounts receivable: +€37,374
- Tax, wage and social debts -€249,530
down €249,530 (-95.9%), from €260,241 to €10,711
- Reserves +€154,004
up €154,004 (+3.3%), from €4.6m to €4.8m
of which Distributable reserves: +€154,004
- Financial income -€2.9m
down €2.9m (-91.5%), from €3.2m to €266,939
- Taxes -€252,077
down €252,077 (-94.1%), from €267,741 to €15,665
- Gross operating margin +€163,733
up €163,733 (+80.5%), from -€203,498 to -€39,765
- Financial charges +€54,243
up €54,243 (+2429.7%), from €2,232 to €56,475
- Depreciation -€4,648
down €4,648 (-100.0%), from €4,648 to €0
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 | €4,878,738 | €4,785,083 | -€93,655 | -1.9% |
| Fixed assets | 21/28 | €18,236 | €0 | -€18,236 | -100.0% |
| Tangible fixed assets | 22/27 | €18,236 | €0 | -€18,236 | -100.0% |
| Furniture and vehicles | 24 | €18,236 | €0 | -€18,236 | -100.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €4,860,502 | €4,785,083 | -€75,419 | -1.6% |
| Amounts receivable within one year | 40/41 | €143,513 | €205,054 | +€61,541 | +42.9% |
| Trade receivables | 40 | €7,342 | €31,508 | +€24,167 | +329.2% |
| Other amounts receivable | 41 | €136,171 | €173,545 | +€37,374 | +27.4% |
| Current investments | 50/53 | €4,122,582 | €2,348,228 | -€1.8m | -43.0% |
| Cash at bank and in hand | 54/58 | €590,151 | €2,221,788 | +€1.6m | +276.5% |
| Deferred charges and accrued income | 490/1 | €4,257 | €10,013 | +€5,756 | +135.2% |
| Total equity and liabilities | 10/49 | €4,878,738 | €4,785,083 | -€93,655 | -1.9% |
| Equity | 10/15 | €4,618,497 | €4,772,501 | +€154,004 | +3.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €4,599,947 | €4,753,951 | +€154,004 | +3.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €4,599,947 | €4,753,951 | +€154,004 | +3.3% |
| Amounts payable | 17/49 | €260,241 | €12,582 | -€247,660 | -95.2% |
| Amounts payable within one year | 42/48 | €260,241 | €12,582 | -€247,660 | -95.2% |
| Trade debts | 44 | €0 | €749 | +€749 | |
| Suppliers | 440/4 | €0 | €749 | +€749 | |
| Advances received on contracts in progress | 46 | - | €969 | +€969 | |
| Taxes, remuneration and social security | 45 | €260,241 | €10,711 | -€249,530 | -95.9% |
| Taxes | 450/3 | €260,241 | €10,711 | -€249,530 | -95.9% |
| Other amounts payable | 47/48 | - | €153 | +€153 | |
| Non-recurring operating income | 76A | - | €29,264 | +€29,264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,648 | €0 | -€4,648 | -100.0% |
| Other operating charges | 640/8 | €1,075 | €1,030 | -€46 | -4.3% |
| Gross operating margin | 9900 | -€203,498 | -€39,765 | +€163,733 | +80.5% |
| Operating profit (loss) | 9901 | -€209,220 | -€40,794 | +€168,426 | +80.5% |
| Financial income | 75/76B | €3,154,638 | €266,939 | -€2.9m | -91.5% |
| Recurring financial income | 75 | €3,154,638 | €266,939 | -€2.9m | -91.5% |
| Financial charges | 65/66B | €2,232 | €56,475 | +€54,243 | +2429.7% |
| Recurring financial charges | 65 | €2,232 | €56,475 | +€54,243 | +2429.7% |
| Profit (loss) for the period before taxes | 9903 | €2,943,185 | €169,669 | -€2.8m | -94.2% |
| Income taxes | 67/77 | €267,741 | €15,665 | -€252,077 | -94.1% |
| Profit (loss) for the period | 9904 | €2,675,444 | €154,004 | -€2.5m | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,675,444 | €154,004 | -€2.5m | -94.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.