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
- Cash +€80,400
up €80,400 (+93.3%), from €86,197 to €166,597
mainly Net result for the year (+€89,798) and Other debts (+€84,860)
- Receivables within one year -€29,474
down €29,474 (-73.6%), from €40,053 to €10,580
of which Trade receivables: -€31,690
- Deferred charges and accrued income +€26,746
new in 2025: €26,746
- Tangible fixed assets +€11,729
up €11,729 (+6.8%), from €173,262 to €184,991
of which Land and buildings: +€7,299
- Other debts +€84,860
up €84,860 (+988%), from €8,593 to €93,454
- Trade debts +€22,069
new in 2025: €22,069
- Tax, wage and social debts -€14,862
down €14,862 (-65.9%), from €22,559 to €7,697
of which Taxes: -€17,537
- Gross operating margin -€44,286
down €44,286 (-26.4%), from €167,660 to €123,374
- Taxes -€11,723
down €11,723 (-25.6%), from €45,768 to €34,044
- Financial income +€10,706
up €10,706 (+686%), from €1,560 to €12,266
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 | €460,190 | €549,591 | +€89,402 | +19.4% |
| Fixed assets | 21/28 | €248,262 | €259,991 | +€11,729 | +4.7% |
| Tangible fixed assets | 22/27 | €173,262 | €184,991 | +€11,729 | +6.8% |
| Land and buildings | 22 | €170,840 | €178,139 | +€7,299 | +4.3% |
| Plant, machinery and equipment | 23 | €648 | €923 | +€276 | +42.5% |
| Furniture and vehicles | 24 | €1,774 | €5,929 | +€4,155 | +234% |
| Financial fixed assets | 28 | €75,000 | €75,000 | = | 0.0% |
| Current assets | 29/58 | €211,928 | €289,600 | +€77,672 | +36.7% |
| Amounts receivable within one year | 40/41 | €40,053 | €10,580 | -€29,474 | -73.6% |
| Trade receivables | 40 | €38,127 | €6,437 | -€31,690 | -83.1% |
| Other amounts receivable | 41 | €1,926 | €4,142 | +€2,216 | +115% |
| Current investments | 50/53 | €85,678 | €85,678 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €86,197 | €166,597 | +€80,400 | +93.3% |
| Deferred charges and accrued income | 490/1 | - | €26,746 | +€26,746 | |
| Total equity and liabilities | 10/49 | €460,190 | €549,591 | +€89,402 | +19.4% |
| Equity | 10/15 | €418,298 | €414,925 | -€3,373 | -0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €412,098 | €408,725 | -€3,373 | -0.8% |
| Distributable reserves | 133 | €412,098 | €408,725 | -€3,373 | -0.8% |
| Amounts payable | 17/49 | €41,891 | €134,666 | +€92,775 | +221% |
| Amounts payable within one year | 42/48 | €41,158 | €134,666 | +€93,508 | +227% |
| Current portion of amounts payable after more than one year | 42 | €10,006 | €11,447 | +€1,441 | +14.4% |
| Trade debts | 44 | - | €22,069 | +€22,069 | |
| Suppliers | 440/4 | - | €22,069 | +€22,069 | |
| Taxes, remuneration and social security | 45 | €22,559 | €7,697 | -€14,862 | -65.9% |
| Taxes | 450/3 | €22,559 | €5,022 | -€17,537 | -77.7% |
| Remuneration and social security | 454/9 | - | €2,675 | +€2,675 | |
| Other amounts payable | 47/48 | €8,593 | €93,454 | +€84,860 | +988% |
| Accrued charges and deferred income | 492/3 | €733 | - | -€733 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,141 | €7,800 | -€1,342 | -14.7% |
| Other operating charges | 640/8 | €1,311 | €1,711 | +€401 | +30.6% |
| Non-recurring operating charges | 66A | - | €211 | +€211 | |
| Gross operating margin | 9900 | €167,660 | €123,374 | -€44,286 | -26.4% |
| Operating profit (loss) | 9901 | €157,208 | €113,652 | -€43,556 | -27.7% |
| Financial income | 75/76B | €1,560 | €12,266 | +€10,706 | +686% |
| Recurring financial income | 75 | €1,560 | €12,266 | +€10,706 | +686% |
| Financial charges | 65/66B | €1,684 | €2,076 | +€392 | +23.3% |
| Recurring financial charges | 65 | €1,684 | €2,076 | +€392 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €157,084 | €123,842 | -€33,242 | -21.2% |
| Income taxes | 67/77 | €45,768 | €34,044 | -€11,723 | -25.6% |
| Profit (loss) for the period | 9904 | €111,316 | €89,798 | -€21,518 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,316 | €89,798 | -€21,518 | -19.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.