CEWE CONSULT: 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.
CEWE CONSULT
Largest movements
- Receivables within one year +€37,547
up €37,547 (+57.9%), from €64,868 to €102,414
of which Other amounts receivable: +€29,233
- Cash +€27,167
up €27,167 (+5.3%), from €511,784 to €538,952
mainly Debts after one year (+€161,058) and Net result for the year (+€74,945)
- Debts after one year +€161,058
up €161,058 (+11221.2%), from €1,435 to €162,494
- Reserves -€96,375
down €96,375 (-17.2%), from €561,017 to €464,642
- Tax, wage and social debts -€9,983
down €9,983 (-46.9%), from €21,307 to €11,324
of which Taxes: -€6,983
- Accrued charges and deferred income +€6,862
new in 2025: €6,862
- Gross operating margin -€84,716
down €84,716 (-44.4%), from €190,832 to €106,116
- Taxes -€43,166
down €43,166 (-67.5%), from €63,933 to €20,767
- Financial income -€10,781
down €10,781 (-100.0%), from €10,781 to €0
- Financial charges +€5,808
up €5,808 (+4681.9%), from €124 to €5,932
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 | €588,416 | €648,724 | +€60,308 | +10.2% |
| Fixed assets | 21/28 | €9,664 | €6,230 | -€3,433 | -35.5% |
| Tangible fixed assets | 22/27 | €9,624 | €6,190 | -€3,433 | -35.7% |
| Furniture and vehicles | 24 | €9,624 | €6,190 | -€3,433 | -35.7% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €578,752 | €642,494 | +€63,742 | +11.0% |
| Amounts receivable within one year | 40/41 | €64,868 | €102,414 | +€37,547 | +57.9% |
| Trade receivables | 40 | €64,868 | €73,181 | +€8,313 | +12.8% |
| Other amounts receivable | 41 | - | €29,233 | +€29,233 | |
| Cash at bank and in hand | 54/58 | €511,784 | €538,952 | +€27,167 | +5.3% |
| Deferred charges and accrued income | 490/1 | €2,100 | €1,128 | -€972 | -46.3% |
| Total equity and liabilities | 10/49 | €588,416 | €648,724 | +€60,308 | +10.2% |
| Equity | 10/15 | €564,017 | €467,642 | -€96,375 | -17.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €561,017 | €464,642 | -€96,375 | -17.2% |
| Distributable reserves | 133 | €561,017 | €464,642 | -€96,375 | -17.2% |
| Amounts payable | 17/49 | €24,399 | €181,082 | +€156,683 | +642.2% |
| Amounts payable after more than one year | 17 | €1,435 | €162,494 | +€161,058 | +11221.2% |
| Other amounts payable | 178/9 | €1,435 | €162,494 | +€161,058 | +11221.2% |
| Amounts payable within one year | 42/48 | €22,964 | €11,727 | -€11,237 | -48.9% |
| Trade debts | 44 | €1,656 | €403 | -€1,253 | -75.7% |
| Suppliers | 440/4 | €1,656 | €403 | -€1,253 | -75.7% |
| Taxes, remuneration and social security | 45 | €21,307 | €11,324 | -€9,983 | -46.9% |
| Taxes | 450/3 | €18,307 | €11,324 | -€6,983 | -38.1% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Accrued charges and deferred income | 492/3 | - | €6,862 | +€6,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,416 | €3,433 | +€17 | +0.5% |
| Other operating charges | 640/8 | €890 | €1,038 | +€148 | +16.6% |
| Gross operating margin | 9900 | €190,832 | €106,116 | -€84,716 | -44.4% |
| Operating profit (loss) | 9901 | €186,525 | €101,644 | -€84,881 | -45.5% |
| Financial income | 75/76B | €10,781 | €0 | -€10,781 | -100.0% |
| Recurring financial income | 75 | €10,781 | €0 | -€10,781 | -100.0% |
| Financial charges | 65/66B | €124 | €5,932 | +€5,808 | +4681.9% |
| Recurring financial charges | 65 | €124 | €5,932 | +€5,808 | +4681.9% |
| Profit (loss) for the period before taxes | 9903 | €197,182 | €95,712 | -€101,470 | -51.5% |
| Income taxes | 67/77 | €63,933 | €20,767 | -€43,166 | -67.5% |
| Profit (loss) for the period | 9904 | €133,249 | €74,945 | -€58,304 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €133,249 | €74,945 | -€58,304 | -43.8% |
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 8 October 2026 via checked.be.