DE CEDER: what changed
Two financial 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.
DE CEDER
Largest movements
- Tangible fixed assets -€896,734
down €896,734 (-100%), from €896,734 to €0
of which Land and buildings: -€612,856
- Cash +€384,347
up €384,347 (+3,454%), from €11,127 to €395,474
mainly Investment in fixed assets (net) (+€896,734) and Net result for the year (+€93,599)
- Current investments +€300,000
new in 2025: €300,000
- Receivables within one year +€253,035
up €253,035 (+697%), from €36,325 to €289,360
of which Other amounts receivable: +€253,035
- Deferred charges and accrued income -€30,094
down €30,094 (-97.5%), from €30,875 to €781
- Profit (loss) carried forward +€93,599
up €93,599 (+32.1%), from €291,888 to €385,487
- Other debts -€59,593
down €59,593 (-100%), from €59,593 to €0
- Trade debts -€23,453
down €23,453 (-74.3%), from €31,580 to €8,126
- Gross operating margin +€3.6m
up €3.6m (+21,466%), from €16,963 to €3.7m
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.
Derived cash bridge
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 | €975,061 | €985,614 | +€10,553 | +1.1% |
| Fixed assets | 21/28 | €896,734 | €0 | -€896,734 | -100% |
| Tangible fixed assets | 22/27 | €896,734 | €0 | -€896,734 | -100% |
| Land and buildings | 22 | €612,856 | €0 | -€612,856 | -100% |
| Other tangible fixed assets | 26 | €283,878 | €0 | -€283,878 | -100% |
| Current assets | 29/58 | €78,327 | €985,614 | +€907,287 | +1,158% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €36,325 | €289,360 | +€253,035 | +697% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €36,325 | €289,360 | +€253,035 | +697% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €11,127 | €395,474 | +€384,347 | +3,454% |
| Deferred charges and accrued income | 490/1 | €30,875 | €781 | -€30,094 | -97.5% |
| Total equity and liabilities | 10/49 | €975,061 | €985,614 | +€10,553 | +1.1% |
| Equity | 10/15 | €883,888 | €977,487 | +€93,599 | +10.6% |
| Contributions | 10/11 | €575,000 | €575,000 | = | 0.0% |
| Reserves | 13 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €17,000 | €17,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €291,888 | €385,487 | +€93,599 | +32.1% |
| Amounts payable | 17/49 | €91,172 | €8,126 | -€83,046 | -91.1% |
| Amounts payable within one year | 42/48 | €91,172 | €8,126 | -€83,046 | -91.1% |
| Trade debts | 44 | €31,580 | €8,126 | -€23,453 | -74.3% |
| Suppliers | 440/4 | €31,580 | €8,126 | -€23,453 | -74.3% |
| Other amounts payable | 47/48 | €59,593 | €0 | -€59,593 | -100% |
| Non-recurring operating income | 76A | €42,928 | €3,707,672 | +€3.7m | +8,537% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,806 | €0 | -€1,806 | -100% |
| Other operating charges | 640/8 | €23,897 | €19,499 | -€4,397 | -18.4% |
| Non-recurring operating charges | 66A | €0 | €3,518,134 | +€3.5m | |
| Gross operating margin | 9900 | €16,963 | €3,658,313 | +€3.6m | +21,466% |
| Operating profit (loss) | 9901 | -€8,740 | €120,680 | +€129,420 | |
| Financial income | 75/76B | €14 | €1,258 | +€1,244 | +9,026% |
| Recurring financial income | 75 | €14 | €1,258 | +€1,244 | +9,026% |
| Financial charges | 65/66B | €336 | €342 | +€6 | +1.6% |
| Recurring financial charges | 65 | €336 | €342 | +€6 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,062 | €121,596 | +€130,658 | |
| Income taxes | 67/77 | €0 | €27,997 | +€27,997 | |
| Profit (loss) for the period | 9904 | -€9,062 | €93,599 | +€102,661 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,062 | €93,599 | +€102,661 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.