DO - CEU & CIE: what changed
DO - CEU & CIE
Largest movements
- Receivables within one year +€24,996
up €24,996 (+415%), from €6,029 to €31,025
of which Trade receivables: +€26,809
- Tangible fixed assets -€19,534
down €19,534 (-25.1%), from €77,767 to €58,233
of which Plant, machinery and equipment: -€10,351
- Cash +€17,841
up €17,841 (+188%), from €9,478 to €27,319
mainly Trade debts (+€81,733) and Tax, wage and social debts (+€42,804)
- Deferred charges and accrued income -€5,396
down €5,396 (-96.9%), from €5,566 to €170
- Profit (loss) carried forward -€134,019
down €134,019, from €10,063 to -€123,956
- Trade debts +€81,733
up €81,733 (+194%), from €42,044 to €123,777
- Tax, wage and social debts +€42,804
up €42,804 (+94.1%), from €45,474 to €88,278
of which Remuneration and social security: +€38,798
- Debts after one year +€21,959
new in 2025: €21,959
- Other debts +€9,599
new in 2025: €9,599
- Gross operating margin -€81,469
down €81,469 (-14.3%), from €569,517 to €488,049
- Staff costs +€33,178
up €33,178 (+5.9%), from €565,416 to €598,595
- Other operating charges -€20,579
down €20,579 (-79.3%), from €25,949 to €5,369
- Taxes -€10,877
down €10,877, from €5,482 to -€5,395
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €128,495 | €146,534 | +€18,039 | +14.0% |
| Fixed assets | 21/28 | €85,197 | €65,163 | -€20,034 | -23.5% |
| Tangible fixed assets | 22/27 | €77,767 | €58,233 | -€19,534 | -25.1% |
| Plant, machinery and equipment | 23 | €51,048 | €40,697 | -€10,351 | -20.3% |
| Furniture and vehicles | 24 | €26,719 | €17,536 | -€9,183 | -34.4% |
| Financial fixed assets | 28 | €7,430 | €6,930 | -€500 | -6.7% |
| Current assets | 29/58 | €43,298 | €81,371 | +€38,073 | +87.9% |
| Stocks and contracts in progress | 3 | €22,225 | €22,858 | +€633 | +2.8% |
| Stocks | 30/36 | €22,225 | €22,858 | +€633 | +2.8% |
| Amounts receivable within one year | 40/41 | €6,029 | €31,025 | +€24,996 | +415% |
| Trade receivables | 40 | €4,216 | €31,025 | +€26,809 | +636% |
| Other amounts receivable | 41 | €1,813 | - | -€1,813 | |
| Cash at bank and in hand | 54/58 | €9,478 | €27,319 | +€17,841 | +188% |
| Deferred charges and accrued income | 490/1 | €5,566 | €170 | -€5,396 | -96.9% |
| Total equity and liabilities | 10/49 | €128,495 | €146,534 | +€18,039 | +14.0% |
| Equity | 10/15 | €30,514 | -€103,505 | -€134,019 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,063 | -€123,956 | -€134,019 | |
| Amounts payable | 17/49 | €97,981 | €250,039 | +€152,058 | +155% |
| Amounts payable after more than one year | 17 | - | €21,959 | +€21,959 | |
| Financial debts | 170/4 | - | €21,959 | +€21,959 | |
| Amounts payable within one year | 42/48 | €97,981 | €228,080 | +€130,099 | +133% |
| Current portion of amounts payable after more than one year | 42 | €10,462 | €6,426 | -€4,036 | -38.6% |
| Trade debts | 44 | €42,044 | €123,777 | +€81,733 | +194% |
| Suppliers | 440/4 | €42,044 | €123,777 | +€81,733 | +194% |
| Taxes, remuneration and social security | 45 | €45,474 | €88,278 | +€42,804 | +94.1% |
| Taxes | 450/3 | €6,476 | €10,481 | +€4,006 | +61.9% |
| Remuneration and social security | 454/9 | €38,998 | €77,796 | +€38,798 | +99.5% |
| Other amounts payable | 47/48 | - | €9,599 | +€9,599 | |
| Remuneration, social security and pensions | 62 | €565,416 | €598,595 | +€33,178 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,712 | €19,534 | -€3,178 | -14.0% |
| Other operating charges | 640/8 | €25,949 | €5,369 | -€20,579 | -79.3% |
| Gross operating margin | 9900 | €569,517 | €488,049 | -€81,469 | -14.3% |
| Operating profit (loss) | 9901 | -€44,560 | -€135,450 | -€90,890 | -204% |
| Financial income | 75/76B | €615 | €8 | -€607 | -98.7% |
| Recurring financial income | 75 | €615 | €8 | -€607 | -98.7% |
| Financial charges | 65/66B | €2,511 | €3,973 | +€1,462 | +58.2% |
| Recurring financial charges | 65 | €2,511 | €3,973 | +€1,462 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | -€46,456 | -€139,415 | -€92,958 | -200% |
| Income taxes | 67/77 | €5,482 | -€5,395 | -€10,877 | |
| Profit (loss) for the period | 9904 | -€51,938 | -€134,019 | -€82,081 | -158% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,938 | -€134,019 | -€82,081 | -158% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.