CEZAR CONSTRUCTION: 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.
CEZAR CONSTRUCTION
Largest movements
- Receivables within one year -€126,825
down €126,825 (-83.1%), from €152,680 to €25,855
of which Trade receivables: -€128,768
- Cash -€43,354
down €43,354 (-97.5%), from €44,478 to €1,124
mainly Advances received (-€83,935) and Stocks and contracts (-€39,620)
- Stocks and contracts +€39,620
new in 2025: €39,620
- Tangible fixed assets -€10,154
down €10,154 (-76.7%), from €13,233 to €3,080
of which Furniture and vehicles: -€9,725
- Advances received -€83,935
no longer reported in 2025 (was €83,935)
- Trade debts -€36,234
down €36,234 (-92.0%), from €39,387 to €3,154
- Debts after one year -€18,007
down €18,007 (-89.1%), from €20,200 to €2,194
- Other debts -€11,510
down €11,510 (-42.6%), from €27,000 to €15,490
- Current portion of long-term debt +€6,581
new in 2025: €6,581
- Gross operating margin -€30,160
down €30,160 (-61.0%), from €49,435 to €19,274
- Taxes -€5,229
down €5,229 (-81.9%), from €6,384 to €1,154
- Depreciation -€888
down €888 (-8.0%), from €11,042 to €10,154
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 | €210,392 | €69,800 | -€140,592 | -66.8% |
| Fixed assets | 21/28 | €13,233 | €3,080 | -€10,154 | -76.7% |
| Tangible fixed assets | 22/27 | €13,233 | €3,080 | -€10,154 | -76.7% |
| Plant, machinery and equipment | 23 | €429 | - | -€429 | |
| Furniture and vehicles | 24 | €12,805 | €3,080 | -€9,725 | -75.9% |
| Current assets | 29/58 | €197,158 | €66,720 | -€130,438 | -66.2% |
| Stocks and contracts in progress | 3 | - | €39,620 | +€39,620 | |
| Stocks | 30/36 | - | €39,620 | +€39,620 | |
| Amounts receivable within one year | 40/41 | €152,680 | €25,855 | -€126,825 | -83.1% |
| Trade receivables | 40 | €151,731 | €22,964 | -€128,768 | -84.9% |
| Other amounts receivable | 41 | €949 | €2,892 | +€1,943 | +204.8% |
| Cash at bank and in hand | 54/58 | €44,478 | €1,124 | -€43,354 | -97.5% |
| Deferred charges and accrued income | 490/1 | - | €121 | +€121 | |
| Total equity and liabilities | 10/49 | €210,392 | €69,800 | -€140,592 | -66.8% |
| Equity | 10/15 | €33,485 | €37,003 | +€3,518 | +10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €10,760 | €10,760 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,900 | €8,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,525 | €20,043 | +€3,518 | +21.3% |
| Amounts payable | 17/49 | €176,906 | €32,797 | -€144,110 | -81.5% |
| Amounts payable after more than one year | 17 | €20,200 | €2,194 | -€18,007 | -89.1% |
| Financial debts | 170/4 | €20,200 | €2,194 | -€18,007 | -89.1% |
| Amounts payable within one year | 42/48 | €156,706 | €30,603 | -€126,103 | -80.5% |
| Current portion of amounts payable after more than one year | 42 | - | €6,581 | +€6,581 | |
| Trade debts | 44 | €39,387 | €3,154 | -€36,234 | -92.0% |
| Suppliers | 440/4 | €39,387 | €3,154 | -€36,234 | -92.0% |
| Advances received on contracts in progress | 46 | €83,935 | - | -€83,935 | |
| Taxes, remuneration and social security | 45 | €6,384 | €5,378 | -€1,006 | -15.8% |
| Taxes | 450/3 | €6,384 | €5,378 | -€1,006 | -15.8% |
| Other amounts payable | 47/48 | €27,000 | €15,490 | -€11,510 | -42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,042 | €10,154 | -€888 | -8.0% |
| Other operating charges | 640/8 | €844 | €807 | -€36 | -4.3% |
| Gross operating margin | 9900 | €49,435 | €19,274 | -€30,160 | -61.0% |
| Operating profit (loss) | 9901 | €37,549 | €8,313 | -€29,236 | -77.9% |
| Financial income | 75/76B | - | €176 | +€176 | |
| Recurring financial income | 75 | - | €128 | +€128 | |
| Non-recurring financial income | 76B | - | €48 | +€48 | |
| Financial charges | 65/66B | €3,684 | €3,817 | +€133 | +3.6% |
| Recurring financial charges | 65 | €3,684 | €3,817 | +€133 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €33,865 | €4,672 | -€29,193 | -86.2% |
| Income taxes | 67/77 | €6,384 | €1,154 | -€5,229 | -81.9% |
| Profit (loss) for the period | 9904 | €27,481 | €3,518 | -€23,963 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,481 | €3,518 | -€23,963 | -87.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.