CEZAR MEUBLES: what changed
What changed
CEZAR MEUBLES
NACE 47.551, Retail sale of household furniture
filed annual accounts (NBB)
Net result for the year
€32,108
2025 · €34,105-€1,997
Equity
€1.9m
2025 · €1.9m+€32,108
Cash
€507,680
2025 · €564,675-€56,995
Balance sheet total
€3.3m
2025 · €3.3m+€10,275
Largest movements
Assets
- Tangible fixed assets +€65,400
up €65,400 (+6.9%), from €946,768 to €1.0m
of which Assets under construction and advance payments: +€173,460
- Cash -€56,995
down €56,995 (-10.1%), from €564,675 to €507,680
mainly Investment in fixed assets (net) (-€197,434) and Debts after one year (-€190,743)
Equity and liabilities
- Debts after one year -€190,743
down €190,743 (-21.5%), from €886,586 to €695,843
of which Other amounts payable: -€143,000
- Advances received +€87,608
up €87,608 (+36.0%), from €243,415 to €331,023
- Trade debts +€83,727
up €83,727 (+73.7%), from €113,605 to €197,332
Income statement
- Gross operating margin +€21,519
up €21,519 (+2.6%), from €813,101 to €834,620
- Staff costs +€8,789
up €8,789 (+1.4%), from €638,145 to €646,934
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€34,105
Gross operating margin
+€21,519
Staff costs
-€8,789
Depreciation
-€1,644
Other operating charges
-€911
Financial income
-€4,302
Financial charges
-€1,483
Taxes
-€6,386
Result 2026
€32,108
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€330,412
Investment
-€197,434
Financing
-€189,974
Cash 2025
€564,675
From operations (derived)
+€330,412
Net result for the year
+€32,108
Depreciation
+€132,033
Stocks and contracts
+€20,417
Receivables within one year
-€22,287
Trade debts
+€83,727
Tax, wage and social debts
-€5,950
Advances received
+€87,608
Other debts
+€2,755
Investment (derived)
-€197,434
Investment in fixed assets (net)
-€197,434
Financing
-€189,974
Debts after one year
-€190,743
Current portion of long-term debt
+€769
Cash 2026
€507,680
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,271,562 | €3,281,837 | +€10,275 | +0.3% |
| Fixed assets | 21/28 | €947,085 | €1,012,485 | +€65,400 | +6.9% |
| Tangible fixed assets | 22/27 | €946,768 | €1,012,169 | +€65,400 | +6.9% |
| Land and buildings | 22 | €425,503 | €418,033 | -€7,470 | -1.8% |
| Plant, machinery and equipment | 23 | €363,528 | €325,042 | -€38,486 | -10.6% |
| Furniture and vehicles | 24 | €157,738 | €95,634 | -€62,104 | -39.4% |
| Assets under construction and advance payments | 27 | - | €173,460 | +€173,460 | |
| Financial fixed assets | 28 | €317 | €317 | = | 0.0% |
| Current assets | 29/58 | €2,324,477 | €2,269,352 | -€55,125 | -2.4% |
| Stocks and contracts in progress | 3 | €1,701,619 | €1,681,202 | -€20,417 | -1.2% |
| Stocks | 30/36 | €1,701,619 | €1,681,202 | -€20,417 | -1.2% |
| Amounts receivable within one year | 40/41 | €58,183 | €80,470 | +€22,287 | +38.3% |
| Trade receivables | 40 | €35,418 | €64,918 | +€29,500 | +83.3% |
| Other amounts receivable | 41 | €22,765 | €15,553 | -€7,213 | -31.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €564,675 | €507,680 | -€56,995 | -10.1% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €3,271,562 | €3,281,837 | +€10,275 | +0.3% |
| Equity | 10/15 | €1,878,607 | €1,910,716 | +€32,108 | +1.7% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €877,223 | €902,223 | +€25,000 | +2.8% |
| Non-distributable reserves | 130/1 | €197,934 | €197,934 | = | 0.0% |
| Legal reserve | 130 | €172,000 | €172,000 | = | 0.0% |
| Other | 1319 | €25,934 | €25,934 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,789 | €24,789 | = | 0.0% |
| Distributable reserves | 133 | €654,500 | €679,500 | +€25,000 | +3.8% |
| Profit (loss) carried forward | 14 | €1,385 | €8,493 | +€7,108 | +513% |
| Amounts payable | 17/49 | €1,392,955 | €1,371,122 | -€21,834 | -1.6% |
| Amounts payable after more than one year | 17 | €886,586 | €695,843 | -€190,743 | -21.5% |
| Financial debts | 170/4 | €106,384 | €58,641 | -€47,743 | -44.9% |
| Other amounts payable | 178/9 | €780,202 | €637,202 | -€143,000 | -18.3% |
| Amounts payable within one year | 42/48 | €506,369 | €675,279 | +€168,909 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €46,974 | €47,743 | +€769 | +1.6% |
| Trade debts | 44 | €113,605 | €197,332 | +€83,727 | +73.7% |
| Suppliers | 440/4 | €113,605 | €197,332 | +€83,727 | +73.7% |
| Advances received on contracts in progress | 46 | €243,415 | €331,023 | +€87,608 | +36.0% |
| Taxes, remuneration and social security | 45 | €98,902 | €92,952 | -€5,950 | -6.0% |
| Taxes | 450/3 | €17,574 | €14,055 | -€3,518 | -20.0% |
| Remuneration and social security | 454/9 | €81,328 | €78,897 | -€2,431 | -3.0% |
| Other amounts payable | 47/48 | €3,473 | €6,228 | +€2,755 | +79.3% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €638,145 | €646,934 | +€8,789 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,389 | €132,033 | +€1,644 | +1.3% |
| Other operating charges | 640/8 | €31,468 | €32,379 | +€911 | +2.9% |
| Gross operating margin | 9900 | €813,101 | €834,620 | +€21,519 | +2.6% |
| Operating profit (loss) | 9901 | €13,100 | €23,274 | +€10,174 | +77.7% |
| Financial income | 75/76B | €26,906 | €22,604 | -€4,302 | -16.0% |
| Recurring financial income | 75 | €26,906 | €22,604 | -€4,302 | -16.0% |
| Financial charges | 65/66B | €5,046 | €6,528 | +€1,483 | +29.4% |
| Recurring financial charges | 65 | €5,046 | €6,528 | +€1,483 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €34,961 | €39,350 | +€4,389 | +12.6% |
| Income taxes | 67/77 | €856 | €7,242 | +€6,386 | +746% |
| Profit (loss) for the period | 9904 | €34,105 | €32,108 | -€1,997 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,105 | €32,108 | -€1,997 | -5.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.