CEVOMAN: what changed
Two financial 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.
CEVOMAN
Largest movements
- Stocks and contracts +€140,085
up €140,085 (+10.6%), from €1.3m to €1.5m
- Tangible fixed assets -€63,668
down €63,668 (-8.8%), from €720,865 to €657,197
of which Land and buildings: -€38,801
- Receivables within one year -€41,671
down €41,671 (-35.9%), from €115,958 to €74,287
of which Trade receivables: -€56,496
- Current portion of long-term debt +€246,062
up €246,062 (+346%), from €71,216 to €317,278
- Reserves -€187,071
down €187,071 (-17.7%), from €1.1m to €867,460
- Other debts +€77,483
up €77,483 (+124%), from €62,479 to €139,962
- Tax, wage and social debts -€69,508
down €69,508 (-65.6%), from €105,941 to €36,434
of which Taxes: -€64,944
- Trade debts -€25,866
down €25,866 (-10.5%), from €246,927 to €221,060
- Gross operating margin -€280,222
down €280,222 (-51.0%), from €549,557 to €269,335
- Taxes -€72,864
down €72,864 (-84.2%), from €86,540 to €13,676
- Staff costs -€31,252
down €31,252 (-24.1%), from €129,635 to €98,383
- Write-downs -€9,905
down €9,905 (-97.3%), from €10,181 to €276
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.
Derived cash bridge
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 | €2,188,260 | €2,225,347 | +€37,087 | +1.7% |
| Fixed assets | 21/28 | €721,405 | €657,737 | -€63,668 | -8.8% |
| Tangible fixed assets | 22/27 | €720,865 | €657,197 | -€63,668 | -8.8% |
| Land and buildings | 22 | €647,100 | €608,298 | -€38,801 | -6.0% |
| Plant, machinery and equipment | 23 | €9,877 | €6,619 | -€3,258 | -33.0% |
| Furniture and vehicles | 24 | €63,888 | €42,279 | -€21,609 | -33.8% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €1,466,855 | €1,567,610 | +€100,756 | +6.9% |
| Stocks and contracts in progress | 3 | €1,324,071 | €1,464,156 | +€140,085 | +10.6% |
| Stocks | 30/36 | €1,324,071 | €1,464,156 | +€140,085 | +10.6% |
| Amounts receivable within one year | 40/41 | €115,958 | €74,287 | -€41,671 | -35.9% |
| Trade receivables | 40 | €94,460 | €37,963 | -€56,496 | -59.8% |
| Other amounts receivable | 41 | €21,499 | €36,324 | +€14,825 | +69.0% |
| Cash at bank and in hand | 54/58 | €6,700 | €9,140 | +€2,440 | +36.4% |
| Deferred charges and accrued income | 490/1 | €20,125 | €20,027 | -€98 | -0.5% |
| Total equity and liabilities | 10/49 | €2,188,260 | €2,225,347 | +€37,087 | +1.7% |
| Equity | 10/15 | €1,073,348 | €886,277 | -€187,071 | -17.4% |
| Contributions | 10/11 | €18,817 | €18,817 | = | 0.0% |
| Reserves | 13 | €1,054,531 | €867,460 | -€187,071 | -17.7% |
| Distributable reserves | 133 | €1,054,531 | €867,460 | -€187,071 | -17.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €1,114,912 | €1,339,070 | +€224,158 | +20.1% |
| Amounts payable after more than one year | 17 | €189,453 | €169,618 | -€19,835 | -10.5% |
| Financial debts | 170/4 | €189,453 | €169,618 | -€19,835 | -10.5% |
| Amounts payable within one year | 42/48 | €915,826 | €1,156,613 | +€240,787 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €71,216 | €317,278 | +€246,062 | +346% |
| Financial debts | 43 | €416,213 | €432,129 | +€15,916 | +3.8% |
| Credit institutions | 430/8 | €416,213 | €432,129 | +€15,916 | +3.8% |
| Trade debts | 44 | €246,927 | €221,060 | -€25,866 | -10.5% |
| Suppliers | 440/4 | €246,927 | €221,060 | -€25,866 | -10.5% |
| Advances received on contracts in progress | 46 | €13,050 | €9,750 | -€3,300 | -25.3% |
| Taxes, remuneration and social security | 45 | €105,941 | €36,434 | -€69,508 | -65.6% |
| Taxes | 450/3 | €79,733 | €14,789 | -€64,944 | -81.5% |
| Remuneration and social security | 454/9 | €26,209 | €21,645 | -€4,564 | -17.4% |
| Other amounts payable | 47/48 | €62,479 | €139,962 | +€77,483 | +124% |
| Accrued charges and deferred income | 492/3 | €9,633 | €12,840 | +€3,207 | +33.3% |
| Non-recurring operating income | 76A | €217 | €0 | -€217 | -100% |
| Remuneration, social security and pensions | 62 | €129,635 | €98,383 | -€31,252 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,924 | €63,668 | +€1,745 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,181 | €276 | -€9,905 | -97.3% |
| Other operating charges | 640/8 | €20,059 | €21,542 | +€1,483 | +7.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €549,557 | €269,335 | -€280,222 | -51.0% |
| Operating profit (loss) | 9901 | €327,758 | €85,466 | -€242,292 | -73.9% |
| Financial income | 75/76B | €1 | €19 | +€18 | +3,351% |
| Recurring financial income | 75 | €1 | €19 | +€18 | +3,351% |
| Financial charges | 65/66B | €41,926 | €40,306 | -€1,620 | -3.9% |
| Recurring financial charges | 65 | €41,926 | €40,306 | -€1,620 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €285,832 | €45,179 | -€240,653 | -84.2% |
| Income taxes | 67/77 | €86,540 | €13,676 | -€72,864 | -84.2% |
| Profit (loss) for the period | 9904 | €199,292 | €31,503 | -€167,789 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €199,292 | €31,503 | -€167,789 | -84.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.