CEVAI: 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.
CEVAI
Largest movements
- Cash +€89,529
up €89,529 (+46.2%), from €193,934 to €283,463
mainly Stocks and contracts (+€58,379) and Current investments (+€37,897)
- Stocks and contracts -€58,379
down €58,379 (-23.4%), from €249,046 to €190,667
- Current investments -€37,897
down €37,897 (-90.7%), from €41,793 to €3,896
- Receivables within one year -€10,489
down €10,489 (-11.8%), from €89,147 to €78,658
of which Trade receivables: -€10,489
- Tax, wage and social debts -€18,281
down €18,281 (-25.8%), from €70,806 to €52,525
of which Taxes: -€19,206
- Reserves +€7,527
up €7,527 (+3.9%), from €190,883 to €198,410
of which Distributable reserves: +€7,527
- Trade debts -€7,195
down €7,195 (-16.2%), from €44,407 to €37,212
- Gross operating margin -€67,613
down €67,613 (-43.3%), from €156,036 to €88,423
- Taxes -€14,706
down €14,706 (-81.4%), from €18,064 to €3,358
- Financial income +€5,161
up €5,161 (+80.5%), from €6,411 to €11,572
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 | €576,367 | €558,418 | -€17,949 | -3.1% |
| Fixed assets | 21/28 | €2,447 | €1,734 | -€713 | -29.1% |
| Tangible fixed assets | 22/27 | €2,348 | €1,635 | -€713 | -30.4% |
| Plant, machinery and equipment | 23 | €2,348 | €1,635 | -€713 | -30.4% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €573,920 | €556,684 | -€17,236 | -3.0% |
| Stocks and contracts in progress | 3 | €249,046 | €190,667 | -€58,379 | -23.4% |
| Stocks | 30/36 | €249,046 | €190,667 | -€58,379 | -23.4% |
| Amounts receivable within one year | 40/41 | €89,147 | €78,658 | -€10,489 | -11.8% |
| Trade receivables | 40 | €88,902 | €78,413 | -€10,489 | -11.8% |
| Other amounts receivable | 41 | €245 | €245 | = | 0.0% |
| Current investments | 50/53 | €41,793 | €3,896 | -€37,897 | -90.7% |
| Cash at bank and in hand | 54/58 | €193,934 | €283,463 | +€89,529 | +46.2% |
| Total equity and liabilities | 10/49 | €576,367 | €558,418 | -€17,949 | -3.1% |
| Equity | 10/15 | €461,154 | €468,681 | +€7,527 | +1.6% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €190,883 | €198,410 | +€7,527 | +3.9% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,200 | €16,200 | = | 0.0% |
| Distributable reserves | 133 | €174,683 | €182,210 | +€7,527 | +4.3% |
| Profit (loss) carried forward | 14 | €108,271 | €108,271 | = | 0.0% |
| Amounts payable | 17/49 | €115,213 | €89,737 | -€25,476 | -22.1% |
| Amounts payable within one year | 42/48 | €115,213 | €89,737 | -€25,476 | -22.1% |
| Trade debts | 44 | €44,407 | €37,212 | -€7,195 | -16.2% |
| Suppliers | 440/4 | €44,407 | €37,212 | -€7,195 | -16.2% |
| Taxes, remuneration and social security | 45 | €70,806 | €52,525 | -€18,281 | -25.8% |
| Taxes | 450/3 | €61,773 | €42,567 | -€19,206 | -31.1% |
| Remuneration and social security | 454/9 | €9,033 | €9,958 | +€925 | +10.2% |
| Remuneration, social security and pensions | 62 | €76,932 | €75,998 | -€934 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €713 | €713 | = | 0.0% |
| Other operating charges | 640/8 | €813 | €850 | +€37 | +4.6% |
| Gross operating margin | 9900 | €156,036 | €88,423 | -€67,613 | -43.3% |
| Operating profit (loss) | 9901 | €77,578 | €10,862 | -€66,716 | -86.0% |
| Financial income | 75/76B | €6,411 | €11,572 | +€5,161 | +80.5% |
| Recurring financial income | 75 | €6,411 | €11,572 | +€5,161 | +80.5% |
| Financial charges | 65/66B | €10,384 | €11,548 | +€1,164 | +11.2% |
| Recurring financial charges | 65 | €10,384 | €11,548 | +€1,164 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €73,605 | €10,886 | -€62,719 | -85.2% |
| Income taxes | 67/77 | €18,064 | €3,358 | -€14,706 | -81.4% |
| Profit (loss) for the period | 9904 | €55,541 | €7,528 | -€48,013 | -86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,541 | €7,528 | -€48,013 | -86.4% |
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 5 October 2026 via checked.be.