CEUSTERS: 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.
What changed
CEUSTERS
NACE 68.321, Property management for co-owned buildings (syndics)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €1.0m+€1,548
Equity
€4.1m
2024 · €3.7m+€370,000
Cash
€7.3m
2024 · €9.4m-€2.1m
Balance sheet total
€17.0m
2024 · €18.1m-€1.2m
Largest movements
Assets
- Cash -€2.1m
down €2.1m (-22.0%), from €9.4m to €7.3m
mainly Other debts (-€1.1m) and Receivables within one year (-€919,111)
- Receivables within one year +€919,111
up €919,111 (+12.5%), from €7.4m to €8.3m
of which Trade receivables: +€890,437
- Deferred charges and accrued income -€238,571
down €238,571 (-28.0%), from €853,145 to €614,574
- Intangible fixed assets +€233,893
up €233,893 (+445.5%), from €52,500 to €286,393
Equity and liabilities
- Other debts -€1.1m
down €1.1m (-33.0%), from €3.3m to €2.2m
- Reserves +€370,000
up €370,000 (+11.6%), from €3.2m to €3.6m
of which Distributable reserves: +€370,000
- Debts after one year -€230,272
down €230,272 (-70.8%), from €325,223 to €94,951
of which Financial debts: -€230,272
- Trade debts -€197,739
down €197,739 (-4.3%), from €4.6m to €4.4m
Income statement
- Turnover +€693,649
up €693,649 (+2.4%), from €29.0m to €29.7m
- Goods and materials +€499,017
up €499,017 (+3.6%), from €13.9m to €14.4m
- Staff costs +€423,634
up €423,634 (+6.1%), from €7.0m to €7.4m
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.
Result 2024
€1.0m
Turnover
+€693,649
Other operating income
+€61,345
Goods and materials
-€499,017
Services and other goods
+€261,740
Staff costs
-€423,634
Depreciation
-€76,476
Write-downs
-€16,846
Other operating charges
-€17,000
Other operating items
+€9,313
Financial income
-€13,905
Financial charges
-€1,157
Taxes
+€23,537
Result 2025
€1.0m
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.
From operations
-€846,652
Investment
-€352,897
Financing
-€854,863
Cash 2024
€9.4m
From operations (derived)
-€846,652
Net result for the year
+€1.0m
Depreciation
+€168,878
Receivables within one year
-€919,111
Deferred charges and accrued income
+€238,571
Trade debts
-€197,739
Tax, wage and social debts
-€109,565
Other debts
-€1.1m
Accrued charges and deferred income
+€66,217
Investment (derived)
-€352,897
Investment in fixed assets (net)
-€352,897
Financing
-€854,863
Debts after one year
-€230,272
Current portion of long-term debt
+€17,082
Contributions, distributions and other
-€641,674
Cash 2025
€7.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,147,527 | €16,957,674 | -€1.2m | -6.6% |
| Fixed assets | 21/28 | €290,784 | €474,803 | +€184,019 | +63.3% |
| Intangible fixed assets | 21 | €52,500 | €286,393 | +€233,893 | +445.5% |
| Tangible fixed assets | 22/27 | €231,441 | €181,042 | -€50,399 | -21.8% |
| Plant, machinery and equipment | 23 | €7,145 | €4,198 | -€2,947 | -41.3% |
| Furniture and vehicles | 24 | €43,537 | €75,969 | +€32,433 | +74.5% |
| Leasing and similar rights | 25 | €177,691 | €99,545 | -€78,146 | -44.0% |
| Other tangible fixed assets | 26 | €3,069 | €1,330 | -€1,738 | -56.6% |
| Financial fixed assets | 28 | €6,843 | €7,368 | +€525 | +7.7% |
| Affiliated companies | 280/1 | €6,168 | €6,168 | = | 0.0% |
| Participating interests | 280 | €6,168 | €6,168 | = | 0.0% |
| Other financial fixed assets | 284/8 | €675 | €1,200 | +€525 | +77.8% |
| Shares | 284 | €255 | €255 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €420 | €945 | +€525 | +125.0% |
| Current assets | 29/58 | €17,856,743 | €16,482,871 | -€1.4m | -7.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €7,364,210 | €8,283,320 | +€919,111 | +12.5% |
| Trade receivables | 40 | €7,337,510 | €8,227,947 | +€890,437 | +12.1% |
| Other amounts receivable | 41 | €26,700 | €55,373 | +€28,673 | +107.4% |
| Current investments | 50/53 | €281,000 | €281,000 | = | 0.0% |
| Own shares | 50 | €281,000 | €281,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,358,389 | €7,303,977 | -€2.1m | -22.0% |
| Deferred charges and accrued income | 490/1 | €853,145 | €614,574 | -€238,571 | -28.0% |
| Total equity and liabilities | 10/49 | €18,147,527 | €16,957,674 | -€1.2m | -6.6% |
| Equity | 10/15 | €3,700,019 | €4,070,019 | +€370,000 | +10.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €3,200,019 | €3,570,019 | +€370,000 | +11.6% |
| Non-distributable reserves | 130/1 | €331,000 | €331,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Own shares acquired | 1312 | €281,000 | €281,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,565 | €6,565 | = | 0.0% |
| Distributable reserves | 133 | €2,862,454 | €3,232,454 | +€370,000 | +12.9% |
| Amounts payable | 17/49 | €14,447,508 | €12,887,655 | -€1.6m | -10.8% |
| Amounts payable after more than one year | 17 | €325,223 | €94,951 | -€230,272 | -70.8% |
| Financial debts | 170/4 | €283,190 | €52,919 | -€230,272 | -81.3% |
| Leasing and similar obligations | 172 | €99,545 | €14,803 | -€84,742 | -85.1% |
| Other loans | 174 | €183,645 | €38,115 | -€145,530 | -79.2% |
| Other amounts payable | 178/9 | €42,032 | €42,032 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,884,198 | €9,488,399 | -€1.4m | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €213,189 | €230,272 | +€17,082 | +8.0% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €4,632,156 | €4,434,416 | -€197,739 | -4.3% |
| Suppliers | 440/4 | €4,632,156 | €4,434,416 | -€197,739 | -4.3% |
| Taxes, remuneration and social security | 45 | €2,392,190 | €2,282,625 | -€109,565 | -4.6% |
| Taxes | 450/3 | €998,535 | €812,159 | -€186,376 | -18.7% |
| Remuneration and social security | 454/9 | €1,393,655 | €1,470,466 | +€76,810 | +5.5% |
| Other amounts payable | 47/48 | €3,346,662 | €2,241,086 | -€1.1m | -33.0% |
| Accrued charges and deferred income | 492/3 | €3,238,088 | €3,304,305 | +€66,217 | +2.0% |
| Operating income | 70/76A | €29,491,911 | €30,246,905 | +€754,994 | +2.6% |
| Turnover | 70 | €29,031,481 | €29,725,130 | +€693,649 | +2.4% |
| Other operating income | 74 | €460,430 | €521,775 | +€61,345 | +13.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €27,866,980 | €28,628,899 | +€761,920 | +2.7% |
| Goods for resale, raw materials and consumables | 60 | €13,884,528 | €14,383,545 | +€499,017 | +3.6% |
| Purchases | 600/8 | €13,884,528 | €14,383,545 | +€499,017 | +3.6% |
| Services and other goods | 61 | €6,828,274 | €6,566,534 | -€261,740 | -3.8% |
| Remuneration, social security and pensions | 62 | €7,000,815 | €7,424,449 | +€423,634 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,403 | €168,878 | +€76,476 | +82.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,846 | +€16,846 | |
| Other operating charges | 640/8 | €51,647 | €68,646 | +€17,000 | +32.9% |
| Non-recurring operating charges | 66A | €9,313 | €0 | -€9,313 | -100.0% |
| Operating profit (loss) | 9901 | €1,624,931 | €1,618,005 | -€6,926 | -0.4% |
| Financial income | 75/76B | €15,409 | €1,504 | -€13,905 | -90.2% |
| Recurring financial income | 75 | €15,409 | €1,504 | -€13,905 | -90.2% |
| Income from financial fixed assets | 750 | - | €0 | +€0 | |
| Income from current assets | 751 | €2,733 | €12 | -€2,721 | -99.6% |
| Other financial income | 752/9 | €12,676 | €1,492 | -€11,184 | -88.2% |
| Financial charges | 65/66B | €181,159 | €182,316 | +€1,157 | +0.6% |
| Recurring financial charges | 65 | €181,159 | €182,316 | +€1,157 | +0.6% |
| Debt charges | 650 | €148,223 | €159,677 | +€11,454 | +7.7% |
| Other financial charges | 652/9 | €32,936 | €22,639 | -€10,297 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €1,459,181 | €1,437,192 | -€21,989 | -1.5% |
| Income taxes | 67/77 | €449,055 | €425,519 | -€23,537 | -5.2% |
| Taxes | 670/3 | €457,020 | €432,231 | -€24,789 | -5.4% |
| Tax adjustments and reversals of tax provisions | 77 | €7,965 | €6,713 | -€1,252 | -15.7% |
| Profit (loss) for the period | 9904 | €1,010,126 | €1,011,674 | +€1,548 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,010,126 | €1,011,674 | +€1,548 | +0.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.