CEVAS: 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.
CEVAS
Largest movements
- Stocks and contracts -€50,600
down €50,600 (-55.5%), from €91,217 to €40,617
- Receivables within one year +€36,912
up €36,912 (+176.7%), from €20,889 to €57,801
of which Trade receivables: +€39,140
- Deferred charges and accrued income -€4,310
down €4,310 (-77.7%), from €5,543 to €1,234
- Cash +€4,017
up €4,017 (+171.1%), from €2,347 to €6,364
mainly Stocks and contracts (+€50,600) and Short-term financial debts (+€18,256)
- Tangible fixed assets -€3,499
down €3,499 (-49.4%), from €7,077 to €3,578
of which Plant, machinery and equipment: -€2,546
- Profit (loss) carried forward -€37,538
down €37,538, from €27,834 to -€9,704
- Short-term financial debts +€18,256
new in 2025: €18,256
- Trade debts +€16,090
up €16,090 (+520.4%), from €3,092 to €19,181
- Tax, wage and social debts -€7,626
down €7,626 (-99.6%), from €7,660 to €33
of which Taxes: -€4,977
- Other debts -€6,662
down €6,662 (-97.5%), from €6,832 to €171
- Staff costs -€13,063
down €13,063 (-46.2%), from €28,270 to €15,207
- Gross operating margin +€9,336
up €9,336 (+35.4%), from -€26,361 to -€17,026
- Depreciation -€1,135
down €1,135 (-37.2%), from €3,051 to €1,916
- Financial income -€978
down €978 (-94.4%), from €1,036 to €58
- Other operating charges -€350
down €350 (-24.2%), from €1,446 to €1,095
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 | €127,074 | €109,594 | -€17,480 | -13.8% |
| Fixed assets | 21/28 | €7,077 | €3,578 | -€3,499 | -49.4% |
| Tangible fixed assets | 22/27 | €7,077 | €3,578 | -€3,499 | -49.4% |
| Plant, machinery and equipment | 23 | €3,352 | €806 | -€2,546 | -76.0% |
| Furniture and vehicles | 24 | €3,726 | €2,773 | -€953 | -25.6% |
| Current assets | 29/58 | €119,996 | €106,016 | -€13,981 | -11.7% |
| Stocks and contracts in progress | 3 | €91,217 | €40,617 | -€50,600 | -55.5% |
| Stocks | 30/36 | €91,217 | €40,617 | -€50,600 | -55.5% |
| Amounts receivable within one year | 40/41 | €20,889 | €57,801 | +€36,912 | +176.7% |
| Trade receivables | 40 | €16,743 | €55,883 | +€39,140 | +233.8% |
| Other amounts receivable | 41 | €4,146 | €1,918 | -€2,228 | -53.7% |
| Cash at bank and in hand | 54/58 | €2,347 | €6,364 | +€4,017 | +171.1% |
| Deferred charges and accrued income | 490/1 | €5,543 | €1,234 | -€4,310 | -77.7% |
| Total equity and liabilities | 10/49 | €127,074 | €109,594 | -€17,480 | -13.8% |
| Equity | 10/15 | €109,490 | €71,952 | -€37,538 | -34.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €75,459 | €75,459 | = | 0.0% |
| Distributable reserves | 133 | €75,459 | €75,459 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,834 | -€9,704 | -€37,538 | |
| Amounts payable | 17/49 | €17,583 | €37,641 | +€20,058 | +114.1% |
| Amounts payable within one year | 42/48 | €17,583 | €37,641 | +€20,058 | +114.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €18,256 | +€18,256 | |
| Credit institutions | 430/8 | - | €18,256 | +€18,256 | |
| Trade debts | 44 | €3,092 | €19,181 | +€16,090 | +520.4% |
| Suppliers | 440/4 | €3,092 | €19,181 | +€16,090 | +520.4% |
| Taxes, remuneration and social security | 45 | €7,660 | €33 | -€7,626 | -99.6% |
| Taxes | 450/3 | €5,010 | €33 | -€4,977 | -99.3% |
| Remuneration and social security | 454/9 | €2,650 | €0 | -€2,650 | -100.0% |
| Other amounts payable | 47/48 | €6,832 | €171 | -€6,662 | -97.5% |
| Non-recurring operating income | 76A | €4,794 | €564 | -€4,230 | -88.2% |
| Remuneration, social security and pensions | 62 | €28,270 | €15,207 | -€13,063 | -46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,051 | €1,916 | -€1,135 | -37.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,446 | €1,095 | -€350 | -24.2% |
| Non-recurring operating charges | 66A | €0 | €1,584 | +€1,584 | |
| Gross operating margin | 9900 | -€26,361 | -€17,026 | +€9,336 | +35.4% |
| Operating profit (loss) | 9901 | -€59,128 | -€36,828 | +€22,301 | +37.7% |
| Financial income | 75/76B | €1,036 | €58 | -€978 | -94.4% |
| Recurring financial income | 75 | €1,036 | €58 | -€978 | -94.4% |
| Financial charges | 65/66B | €504 | €735 | +€231 | +45.8% |
| Recurring financial charges | 65 | €504 | €735 | +€231 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | -€58,596 | -€37,505 | +€21,092 | +36.0% |
| Income taxes | 67/77 | €128 | €33 | -€95 | -74.0% |
| Profit (loss) for the period | 9904 | -€58,724 | -€37,538 | +€21,186 | +36.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,724 | -€37,538 | +€21,186 | +36.1% |
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.