Cezri: 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.
Cezri
Largest movements
- Receivables after one year +€16,400
new in 2025: €16,400
- Cash +€8,776
up €8,776 (+38.3%), from €22,942 to €31,718
mainly Net result for the year (+€20,054) and Other debts (+€20,000)
- Receivables within one year -€5,472
down €5,472 (-17.6%), from €31,051 to €25,579
of which Other amounts receivable: -€4,591
- Tangible fixed assets +€3,251
up €3,251 (+87.2%), from €3,727 to €6,978
- Other debts +€20,000
new in 2025: €20,000
- Tax, wage and social debts +€4,060
up €4,060 (+60.7%), from €6,687 to €10,747
- Gross operating margin +€3,262
up €3,262 (+12.5%), from €26,043 to €29,305
- Taxes +€2,152
up €2,152 (+61.4%), from €3,506 to €5,657
- Staff costs -€1,760
no longer reported in 2025 (was €1,760)
- Depreciation +€687
up €687 (+26.8%), from €2,563 to €3,250
- Financial charges -€532
down €532 (-26.0%), from €2,044 to €1,512
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 | €59,038 | €82,451 | +€23,413 | +39.7% |
| Fixed assets | 21/28 | €3,727 | €6,978 | +€3,251 | +87.2% |
| Tangible fixed assets | 22/27 | €3,727 | €6,978 | +€3,251 | +87.2% |
| Furniture and vehicles | 24 | €3,727 | €6,978 | +€3,251 | +87.2% |
| Current assets | 29/58 | €55,310 | €75,473 | +€20,162 | +36.5% |
| Amounts receivable after more than one year | 29 | - | €16,400 | +€16,400 | |
| Trade receivables | 290 | - | €16,400 | +€16,400 | |
| Amounts receivable within one year | 40/41 | €31,051 | €25,579 | -€5,472 | -17.6% |
| Trade receivables | 40 | €11,658 | €10,778 | -€880 | -7.6% |
| Other amounts receivable | 41 | €19,392 | €14,801 | -€4,591 | -23.7% |
| Cash at bank and in hand | 54/58 | €22,942 | €31,718 | +€8,776 | +38.3% |
| Deferred charges and accrued income | 490/1 | €1,317 | €1,776 | +€458 | +34.8% |
| Total equity and liabilities | 10/49 | €59,038 | €82,451 | +€23,413 | +39.7% |
| Equity | 10/15 | €47,233 | €47,288 | +€54 | +0.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €44,733 | €44,788 | +€54 | +0.1% |
| Distributable reserves | 133 | €44,733 | €44,788 | +€54 | +0.1% |
| Amounts payable | 17/49 | €11,804 | €35,163 | +€23,359 | +197.9% |
| Amounts payable after more than one year | 17 | €1,540 | €1,285 | -€255 | -16.5% |
| Financial debts | 170/4 | €1,540 | €1,285 | -€255 | -16.5% |
| Amounts payable within one year | 42/48 | €10,264 | €33,878 | +€23,614 | +230.1% |
| Current portion of amounts payable after more than one year | 42 | €2,934 | €3,085 | +€150 | +5.1% |
| Trade debts | 44 | €644 | €47 | -€597 | -92.7% |
| Suppliers | 440/4 | €644 | €47 | -€597 | -92.7% |
| Taxes, remuneration and social security | 45 | €6,687 | €10,747 | +€4,060 | +60.7% |
| Taxes | 450/3 | €6,687 | €10,747 | +€4,060 | +60.7% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | €1,760 | - | -€1,760 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,563 | €3,250 | +€687 | +26.8% |
| Other operating charges | 640/8 | €124 | €607 | +€483 | +389.9% |
| Non-recurring operating charges | 66A | €3,777 | - | -€3,777 | |
| Gross operating margin | 9900 | €26,043 | €29,305 | +€3,262 | +12.5% |
| Operating profit (loss) | 9901 | €17,820 | €25,448 | +€7,628 | +42.8% |
| Financial income | 75/76B | €1,317 | €1,776 | +€458 | +34.8% |
| Recurring financial income | 75 | €1,317 | €1,776 | +€458 | +34.8% |
| Financial charges | 65/66B | €2,044 | €1,512 | -€532 | -26.0% |
| Recurring financial charges | 65 | €2,044 | €1,512 | -€532 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €17,093 | €25,712 | +€8,619 | +50.4% |
| Income taxes | 67/77 | €3,506 | €5,657 | +€2,152 | +61.4% |
| Profit (loss) for the period | 9904 | €13,587 | €20,054 | +€6,467 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,587 | €20,054 | +€6,467 | +47.6% |
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.