CEVEX: 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.
CEVEX
Largest movements
- Financial fixed assets +€21,930
new in 2025: €21,930
- Receivables within one year -€15,901
down €15,901 (-71.8%), from €22,133 to €6,232
- Tangible fixed assets -€2,287
down €2,287 (-7.2%), from €31,690 to €29,403
of which Land and buildings: -€2,287
- Cash -€2,045
down €2,045 (-32.1%), from €6,365 to €4,320
mainly Investment in fixed assets (net) (-€21,930)
- Profit (loss) carried forward +€1,495
up €1,495 (+1.9%), from -€80,566 to -€79,071
- Depreciation -€231
down €231 (-9.2%), from €2,518 to €2,287
- Gross operating margin +€179
up €179 (+4.0%), from €4,468 to €4,647
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 | €66,667 | €68,252 | +€1,586 | +2.4% |
| Fixed assets | 21/28 | €31,690 | €51,333 | +€19,643 | +62.0% |
| Tangible fixed assets | 22/27 | €31,690 | €29,403 | -€2,287 | -7.2% |
| Land and buildings | 22 | €31,690 | €29,403 | -€2,287 | -7.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | - | €21,930 | +€21,930 | |
| Current assets | 29/58 | €34,977 | €16,920 | -€18,057 | -51.6% |
| Amounts receivable within one year | 40/41 | €22,133 | €6,232 | -€15,901 | -71.8% |
| Other amounts receivable | 41 | €22,133 | €6,232 | -€15,901 | -71.8% |
| Current investments | 50/53 | €6,368 | €6,368 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,365 | €4,320 | -€2,045 | -32.1% |
| Deferred charges and accrued income | 490/1 | €111 | €0 | -€111 | -100.0% |
| Total equity and liabilities | 10/49 | €66,667 | €68,252 | +€1,586 | +2.4% |
| Equity | 10/15 | €64,632 | €66,127 | +€1,495 | +2.3% |
| Contributions | 10/11 | €49,605 | €49,605 | = | 0.0% |
| Outside capital | 11 | €49,605 | €49,605 | = | 0.0% |
| Other | 1109/19 | €49,605 | €49,605 | = | 0.0% |
| Reserves | 13 | €95,593 | €95,593 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,989 | €2,989 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,989 | €2,989 | = | 0.0% |
| Tax-exempt reserves | 132 | €92,604 | €92,604 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,566 | -€79,071 | +€1,495 | +1.9% |
| Amounts payable | 17/49 | €2,035 | €2,125 | +€91 | +4.5% |
| Amounts payable within one year | 42/48 | €2,035 | €2,125 | +€91 | +4.5% |
| Trade debts | 44 | - | €91 | +€91 | |
| Suppliers | 440/4 | - | €91 | +€91 | |
| Taxes, remuneration and social security | 45 | €400 | €400 | = | 0.0% |
| Taxes | 450/3 | €400 | €400 | = | 0.0% |
| Other amounts payable | 47/48 | €1,634 | €1,634 | = | 0.0% |
| Non-recurring operating income | 76A | €36 | €0 | -€36 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,518 | €2,287 | -€231 | -9.2% |
| Other operating charges | 640/8 | €795 | €820 | +€25 | +3.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €4,468 | €4,647 | +€179 | +4.0% |
| Operating profit (loss) | 9901 | €1,155 | €1,540 | +€385 | +33.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €51 | €45 | -€6 | -12.4% |
| Recurring financial charges | 65 | €51 | €45 | -€6 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €1,105 | €1,495 | +€390 | +35.3% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period | 9904 | €1,104 | €1,495 | +€391 | +35.4% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,104 | €1,495 | +€391 | +35.4% |
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.