Z&L BY CEBSP: 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.
Z&L BY CEBSP
Largest movements
- Tangible fixed assets -€18,684
down €18,684 (-35.6%), from €52,451 to €33,767
of which Leasing and similar rights: -€12,268
- Cash +€10,228
up €10,228 (+250%), from €4,092 to €14,320
mainly Depreciation (+€18,684) and Net result for the year (+€6,901)
- Receivables within one year -€945
down €945 (-79.6%), from €1,187 to €242
of which Other amounts receivable: -€1,187
- Debts after one year -€10,219
down €10,219 (-37.9%), from €26,962 to €16,743
- Reserves +€6,901
up €6,901 (+45.1%), from €15,318 to €22,219
of which Distributable reserves: +€6,901
- Other debts -€5,603
down €5,603 (-78.9%), from €7,101 to €1,498
- Gross operating margin +€4,750
up €4,750 (+17.6%), from €27,012 to €31,762
- Depreciation -€2,373
down €2,373 (-11.3%), from €21,057 to €18,684
- Taxes +€1,537
up €1,537 (+73.3%), from €2,097 to €3,634
- Financial charges -€1,139
down €1,139 (-44.3%), from €2,572 to €1,433
- Other operating charges +€922
up €922 (+490%), from €188 to €1,110
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 | €65,481 | €56,137 | -€9,344 | -14.3% |
| Fixed assets | 21/28 | €52,451 | €33,767 | -€18,684 | -35.6% |
| Tangible fixed assets | 22/27 | €52,451 | €33,767 | -€18,684 | -35.6% |
| Plant, machinery and equipment | 23 | €3,101 | €2,165 | -€936 | -30.2% |
| Furniture and vehicles | 24 | €8,277 | €2,797 | -€5,480 | -66.2% |
| Leasing and similar rights | 25 | €41,074 | €28,805 | -€12,268 | -29.9% |
| Current assets | 29/58 | €13,030 | €22,370 | +€9,340 | +71.7% |
| Amounts receivable within one year | 40/41 | €1,187 | €242 | -€945 | -79.6% |
| Trade receivables | 40 | €0 | €242 | +€242 | |
| Other amounts receivable | 41 | €1,187 | €0 | -€1,187 | -100% |
| Cash at bank and in hand | 54/58 | €4,092 | €14,320 | +€10,228 | +250% |
| Deferred charges and accrued income | 490/1 | €7,751 | €7,808 | +€57 | +0.7% |
| Total equity and liabilities | 10/49 | €65,481 | €56,137 | -€9,344 | -14.3% |
| Equity | 10/15 | €18,318 | €25,219 | +€6,901 | +37.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,318 | €22,219 | +€6,901 | +45.1% |
| Tax-exempt reserves | 132 | €4,594 | €4,594 | = | 0.0% |
| Distributable reserves | 133 | €10,724 | €17,625 | +€6,901 | +64.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €47,163 | €30,918 | -€16,245 | -34.4% |
| Amounts payable after more than one year | 17 | €26,962 | €16,743 | -€10,219 | -37.9% |
| Financial debts | 170/4 | €26,962 | €16,743 | -€10,219 | -37.9% |
| Amounts payable within one year | 42/48 | €20,201 | €14,175 | -€6,026 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €9,812 | €10,219 | +€407 | +4.2% |
| Trade debts | 44 | €1,538 | €1,324 | -€214 | -13.9% |
| Suppliers | 440/4 | €1,538 | €1,324 | -€214 | -13.9% |
| Taxes, remuneration and social security | 45 | €1,750 | €1,134 | -€616 | -35.2% |
| Taxes | 450/3 | €1,597 | €1,134 | -€463 | -29.0% |
| Remuneration and social security | 454/9 | €153 | €0 | -€153 | -100% |
| Other amounts payable | 47/48 | €7,101 | €1,498 | -€5,603 | -78.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,057 | €18,684 | -€2,373 | -11.3% |
| Other operating charges | 640/8 | €188 | €1,110 | +€922 | +490% |
| Gross operating margin | 9900 | €27,012 | €31,762 | +€4,750 | +17.6% |
| Operating profit (loss) | 9901 | €5,766 | €11,968 | +€6,201 | +108% |
| Financial income | 75/76B | €0 | €0 | -€0 | -55.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -55.6% |
| Financial charges | 65/66B | €2,572 | €1,433 | -€1,139 | -44.3% |
| Recurring financial charges | 65 | €2,572 | €1,433 | -€1,139 | -44.3% |
| Profit (loss) for the period before taxes | 9903 | €3,195 | €10,535 | +€7,340 | +230% |
| Income taxes | 67/77 | €2,097 | €3,634 | +€1,537 | +73.3% |
| Profit (loss) for the period | 9904 | €1,098 | €6,901 | +€5,803 | +528% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,098 | €6,901 | +€5,803 | +528% |
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 1 November 2026 via checked.be.