CEGIS: 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.
CEGIS
Largest movements
- Receivables within one year -€49,130
down €49,130 (-16.2%), from €303,656 to €254,527
of which Trade receivables: -€50,374
- Tangible fixed assets +€21,909
up €21,909 (+37.4%), from €58,581 to €80,490
of which Furniture and vehicles: +€27,642
- Cash +€14,169
up €14,169 (+9.8%), from €144,509 to €158,678
mainly Trade debts (+€129,948) and Receivables within one year (+€49,130)
- Deferred charges and accrued income -€10,339
down €10,339 (-64.4%), from €16,047 to €5,708
- Profit (loss) carried forward -€205,437
down €205,437 (-20.0%), from -€1.0m to -€1.2m
- Trade debts +€129,948
up €129,948 (+18.9%), from €689,120 to €819,069
- Current portion of long-term debt +€28,386
up €28,386 (+56.2%), from €50,531 to €78,917
- Tax, wage and social debts +€27,626
up €27,626 (+39.7%), from €69,587 to €97,213
of which Remuneration and social security: +€22,691
- Accrued charges and deferred income -€11,818
down €11,818 (-53.5%), from €22,093 to €10,275
- Staff costs +€196,694
up €196,694 (+38.9%), from €505,597 to €702,291
- Gross operating margin +€80,169
up €80,169 (+16.7%), from €480,422 to €560,591
- Taxes -€12,694
down €12,694 (-96.4%), from €13,165 to €471
- Depreciation +€12,296
up €12,296 (+40.3%), from €30,541 to €42,837
- Write-downs +€10,229
no longer reported in 2025 (was -€10,229)
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 | €522,793 | €499,402 | -€23,391 | -4.5% |
| Fixed assets | 21/28 | €58,581 | €80,490 | +€21,909 | +37.4% |
| Tangible fixed assets | 22/27 | €58,581 | €80,490 | +€21,909 | +37.4% |
| Plant, machinery and equipment | 23 | €6,830 | €2,826 | -€4,004 | -58.6% |
| Furniture and vehicles | 24 | €50,022 | €77,664 | +€27,642 | +55.3% |
| Other tangible fixed assets | 26 | €1,728 | €0 | -€1,728 | -100% |
| Current assets | 29/58 | €464,212 | €418,912 | -€45,300 | -9.8% |
| Amounts receivable within one year | 40/41 | €303,656 | €254,527 | -€49,130 | -16.2% |
| Trade receivables | 40 | €303,590 | €253,217 | -€50,374 | -16.6% |
| Other amounts receivable | 41 | €66 | €1,310 | +€1,244 | +1,884% |
| Cash at bank and in hand | 54/58 | €144,509 | €158,678 | +€14,169 | +9.8% |
| Deferred charges and accrued income | 490/1 | €16,047 | €5,708 | -€10,339 | -64.4% |
| Total equity and liabilities | 10/49 | €522,793 | €499,402 | -€23,391 | -4.5% |
| Equity | 10/15 | -€856,349 | -€1,061,786 | -€205,437 | -24.0% |
| Contributions | 10/11 | €56,296 | €56,296 | = | 0.0% |
| Reserves | 13 | €115,650 | €115,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €115,650 | €115,650 | = | 0.0% |
| Reserves not available under the articles | 1311 | €115,650 | €115,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,028,295 | -€1,233,732 | -€205,437 | -20.0% |
| Amounts payable | 17/49 | €1,379,142 | €1,561,188 | +€182,046 | +13.2% |
| Amounts payable after more than one year | 17 | €44,068 | €49,972 | +€5,904 | +13.4% |
| Financial debts | 170/4 | €44,068 | €49,972 | +€5,904 | +13.4% |
| Amounts payable within one year | 42/48 | €1,312,981 | €1,500,941 | +€187,960 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €50,531 | €78,917 | +€28,386 | +56.2% |
| Trade debts | 44 | €689,120 | €819,069 | +€129,948 | +18.9% |
| Suppliers | 440/4 | €689,120 | €819,069 | +€129,948 | +18.9% |
| Taxes, remuneration and social security | 45 | €69,587 | €97,213 | +€27,626 | +39.7% |
| Taxes | 450/3 | €19,074 | €24,008 | +€4,934 | +25.9% |
| Remuneration and social security | 454/9 | €50,513 | €73,205 | +€22,691 | +44.9% |
| Other amounts payable | 47/48 | €503,742 | €505,742 | +€2,000 | +0.4% |
| Accrued charges and deferred income | 492/3 | €22,093 | €10,275 | -€11,818 | -53.5% |
| Non-recurring operating income | 76A | €5,500 | - | -€5,500 | |
| Remuneration, social security and pensions | 62 | €505,597 | €702,291 | +€196,694 | +38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,541 | €42,837 | +€12,296 | +40.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,229 | - | +€10,229 | |
| Other operating charges | 640/8 | €2,825 | €5,584 | +€2,759 | +97.7% |
| Non-recurring operating charges | 66A | - | €9,000 | +€9,000 | |
| Gross operating margin | 9900 | €480,422 | €560,591 | +€80,169 | +16.7% |
| Operating profit (loss) | 9901 | -€48,313 | -€199,121 | -€150,808 | -312% |
| Financial income | 75/76B | €5 | €2 | -€3 | -61.8% |
| Recurring financial income | 75 | €5 | €2 | -€3 | -61.8% |
| Financial charges | 65/66B | €3,231 | €5,846 | +€2,615 | +80.9% |
| Recurring financial charges | 65 | €3,231 | €5,846 | +€2,615 | +80.9% |
| Profit (loss) for the period before taxes | 9903 | -€51,540 | -€204,966 | -€153,426 | -298% |
| Income taxes | 67/77 | €13,165 | €471 | -€12,694 | -96.4% |
| Profit (loss) for the period | 9904 | -€64,705 | -€205,437 | -€140,732 | -217% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,705 | -€205,437 | -€140,732 | -217% |
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 16 October 2026 via checked.be.