LE CERF-VOLANT: 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.
LE CERF-VOLANT
Largest movements
- Receivables within one year +€38,534
up €38,534 (+67.9%), from €56,786 to €95,320
of which Other amounts receivable: +€40,181
- Current investments -€6,076
down €6,076 (-1.8%), from €338,544 to €332,468
- Reserves +€25,183
up €25,183 (+1,016%), from €2,479 to €27,662
- Staff costs -€77,879
down €77,879 (-4.6%), from €1.7m to €1.6m
- Gross operating margin -€39,621
down €39,621 (-2.3%), from €1.7m to €1.7m
- Turnover -€26,753
down €26,753 (-6.4%), from €418,559 to €391,806
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 | €411,359 | €441,392 | +€30,033 | +7.3% |
| Fixed assets | 21/28 | €10,000 | €10,000 | = | 0.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €401,359 | €431,392 | +€30,033 | +7.5% |
| Amounts receivable within one year | 40/41 | €56,786 | €95,320 | +€38,534 | +67.9% |
| Trade receivables | 40 | €36,775 | €35,128 | -€1,647 | -4.5% |
| Other amounts receivable | 41 | €20,011 | €60,192 | +€40,181 | +201% |
| Current investments | 50/53 | €338,544 | €332,468 | -€6,076 | -1.8% |
| Cash at bank and in hand | 54/58 | €3,159 | €3,311 | +€152 | +4.8% |
| Deferred charges and accrued income | 490/1 | €2,870 | €293 | -€2,577 | -89.8% |
| Total equity and liabilities | 10/49 | €411,359 | €441,392 | +€30,033 | +7.3% |
| Equity | 10/15 | €78,576 | €103,759 | +€25,183 | +32.0% |
| Contributions | 10/11 | €19,810 | €19,810 | = | 0.0% |
| Capital | 10 | €19,810 | €19,810 | = | 0.0% |
| Reserves | 13 | €2,479 | €27,662 | +€25,183 | +1,016% |
| Profit (loss) carried forward | 14 | €56,287 | €56,287 | = | 0.0% |
| Amounts payable | 17/49 | €332,783 | €337,633 | +€4,850 | +1.5% |
| Amounts payable within one year | 42/48 | €305,383 | €308,732 | +€3,349 | +1.1% |
| Trade debts | 44 | €8,158 | €7,589 | -€569 | -7.0% |
| Suppliers | 440/4 | €8,158 | €7,589 | -€569 | -7.0% |
| Taxes, remuneration and social security | 45 | €256,309 | €256,515 | +€206 | +0.1% |
| Taxes | 450/3 | €14,420 | €13,225 | -€1,195 | -8.3% |
| Remuneration and social security | 454/9 | €241,889 | €243,290 | +€1,401 | +0.6% |
| Accrued charges and deferred income | 492/3 | €27,400 | €28,901 | +€1,501 | +5.5% |
| Turnover | 70 | €418,559 | €391,806 | -€26,753 | -6.4% |
| Membership fees, donations, legacies and grants | 73 | €1,313,542 | €1,315,520 | +€1,978 | +0.2% |
| Non-recurring operating income | 76A | €188 | €383 | +€195 | +104% |
| Goods, raw materials, services and sundry goods | 60/61 | €37,442 | €50,994 | +€13,552 | +36.2% |
| Remuneration, social security and pensions | 62 | €1,707,645 | €1,629,766 | -€77,879 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €0 | = | |
| Other operating charges | 640/8 | €3,669 | €4,609 | +€940 | +25.6% |
| Non-recurring operating charges | 66A | €2,064 | €1,642 | -€422 | -20.4% |
| Gross operating margin | 9900 | €1,699,198 | €1,659,577 | -€39,621 | -2.3% |
| Operating profit (loss) | 9901 | -€14,180 | €23,560 | +€37,740 | |
| Financial income | 75/76B | €2,847 | €1,851 | -€996 | -35.0% |
| Recurring financial income | 75 | €2,847 | €1,851 | -€996 | -35.0% |
| Financial charges | 65/66B | €234 | €228 | -€6 | -2.6% |
| Recurring financial charges | 65 | €234 | €228 | -€6 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,567 | €25,183 | +€36,750 | |
| Profit (loss) for the period | 9904 | -€11,567 | €25,183 | +€36,750 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,567 | €25,183 | +€36,750 |
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 29 October 2026 via checked.be.