CEXA: 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.
CEXA
Largest movements
- Cash +€688,252
up €688,252 (+280187.3%), from €246 to €688,498
mainly Investment in fixed assets (net) (+€420,263) and Stocks and contracts (+€314,000)
- Tangible fixed assets -€446,703
down €446,703 (-29.3%), from €1.5m to €1.1m
of which Land and buildings: -€448,816
- Stocks and contracts -€314,000
down €314,000 (-100.0%), from €314,000 to €0
- Receivables after one year -€58,485
down €58,485 (-53.2%), from €109,985 to €51,500
- Debts after one year -€162,221
down €162,221 (-13.3%), from €1.2m to €1.1m
of which Other amounts payable: -€140,395
- Write-downs -€21,115
new in 2025: -€21,115
- Gross operating margin +€14,863
up €14,863 (+43.4%), from €34,240 to €49,103
- Financial income -€13,853
down €13,853 (-90.9%), from €15,240 to €1,387
of which Non-recurring financial income: -€12,490
- Taxes +€10,534
up €10,534, from €0 to €10,534
- Depreciation -€9,890
down €9,890 (-27.2%), from €36,330 to €26,440
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 | €1,955,600 | €1,819,274 | -€136,326 | -7.0% |
| Fixed assets | 21/28 | €1,525,970 | €1,079,267 | -€446,703 | -29.3% |
| Tangible fixed assets | 22/27 | €1,525,970 | €1,079,267 | -€446,703 | -29.3% |
| Land and buildings | 22 | €1,525,554 | €1,076,738 | -€448,816 | -29.4% |
| Plant, machinery and equipment | 23 | €416 | €2,529 | +€2,113 | +507.5% |
| Current assets | 29/58 | €429,630 | €740,007 | +€310,378 | +72.2% |
| Amounts receivable after more than one year | 29 | €109,985 | €51,500 | -€58,485 | -53.2% |
| Other amounts receivable | 291 | €109,985 | €51,500 | -€58,485 | -53.2% |
| Stocks and contracts in progress | 3 | €314,000 | €0 | -€314,000 | -100.0% |
| Stocks | 30/36 | €314,000 | €0 | -€314,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €5,165 | €0 | -€5,165 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,165 | €0 | -€5,165 | -100.0% |
| Cash at bank and in hand | 54/58 | €246 | €688,498 | +€688,252 | +280187.3% |
| Deferred charges and accrued income | 490/1 | €234 | €10 | -€224 | -95.9% |
| Total equity and liabilities | 10/49 | €1,955,600 | €1,819,274 | -€136,326 | -7.0% |
| Equity | 10/15 | €711,690 | €729,840 | +€18,151 | +2.6% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €111,690 | €129,840 | +€18,151 | +16.3% |
| Distributable reserves | 133 | €111,690 | €129,840 | +€18,151 | +16.3% |
| Amounts payable | 17/49 | €1,243,910 | €1,089,434 | -€154,476 | -12.4% |
| Amounts payable after more than one year | 17 | €1,221,075 | €1,058,854 | -€162,221 | -13.3% |
| Financial debts | 170/4 | €47,570 | €25,744 | -€21,826 | -45.9% |
| Other amounts payable | 178/9 | €1,173,506 | €1,033,110 | -€140,395 | -12.0% |
| Amounts payable within one year | 42/48 | €22,835 | €30,579 | +€7,744 | +33.9% |
| Current portion of amounts payable after more than one year | 42 | €21,606 | €21,826 | +€220 | +1.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,229 | €220 | -€1,009 | -82.1% |
| Suppliers | 440/4 | €1,229 | €220 | -€1,009 | -82.1% |
| Taxes, remuneration and social security | 45 | €0 | €8,534 | +€8,534 | |
| Taxes | 450/3 | €0 | €8,534 | +€8,534 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €85,089 | +€85,089 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,330 | €26,440 | -€9,890 | -27.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€21,115 | -€21,115 | |
| Other operating charges | 640/8 | €7,037 | €9,350 | +€2,312 | +32.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €34,240 | €49,103 | +€14,863 | +43.4% |
| Operating profit (loss) | 9901 | -€9,127 | €34,428 | +€43,555 | |
| Financial income | 75/76B | €15,240 | €1,387 | -€13,853 | -90.9% |
| Recurring financial income | 75 | €2,749 | €1,387 | -€1,362 | -49.6% |
| Non-recurring financial income | 76B | €12,490 | €0 | -€12,490 | -100.0% |
| Financial charges | 65/66B | €9,153 | €7,130 | -€2,023 | -22.1% |
| Recurring financial charges | 65 | €2,917 | €7,130 | +€4,213 | +144.4% |
| Non-recurring financial charges | 66B | €6,236 | €0 | -€6,236 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,041 | €28,685 | +€31,725 | |
| Income taxes | 67/77 | €0 | €10,534 | +€10,534 | |
| Profit (loss) for the period | 9904 | -€3,041 | €18,151 | +€21,191 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,041 | €18,151 | +€21,191 |
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 30 September 2026 via checked.be.