CertUp: 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.
What changed
CertUp
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€104,815
2024 · €174,847-€279,662
Equity
€51,335
2024 · €157,817-€106,482
Cash
€76,655
2024 · €77,512-€857
Balance sheet total
€731,371
2024 · €574,921+€156,450
Largest movements
Assets
- Receivables within one year +€134,975
up €134,975 (+64.8%), from €208,300 to €343,275
of which Trade receivables: +€114,617
- Intangible fixed assets +€51,486
up €51,486 (+53.3%), from €96,542 to €148,028
- Tangible fixed assets -€27,131
down €27,131 (-42.9%), from €63,277 to €36,146
Equity and liabilities
- Short-term financial debts +€212,975
new in 2025: €212,975
- Accrued charges and deferred income +€149,282
up €149,282 (+124%), from €120,373 to €269,655
- Profit (loss) carried forward -€104,815
down €104,815, from €87,117 to -€17,698
- Other debts -€100,425
down €100,425 (-98.7%), from €101,741 to €1,316
- Trade debts +€24,117
up €24,117 (+29.9%), from €80,611 to €104,728
Income statement
- Gross operating margin -€320,661
down €320,661 (-46.7%), from €687,171 to €366,510
- Taxes -€68,602
down €68,602 (-97.9%), from €70,096 to €1,494
- Depreciation +€34,692
up €34,692 (+72.0%), from €48,205 to €82,897
- Staff costs -€10,694
down €10,694 (-2.8%), from €386,580 to €375,886
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.
Result 2024
€174,847
Gross operating margin
-€320,661
Staff costs
+€10,694
Depreciation
-€34,692
Write-downs
+€3,564
Other operating charges
-€4,595
Other operating items
+€294
Financial income
+€3
Financial charges
-€2,871
Taxes
+€68,602
Result 2025
-€104,815
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€92,499
Investment
-€107,252
Financing
+€198,894
Cash 2024
€77,512
From operations (derived)
-€92,499
Net result for the year
-€104,815
Depreciation
+€82,897
Receivables within one year
-€134,975
Deferred charges and accrued income
+€2,023
Trade debts
+€24,117
Tax, wage and social debts
-€10,603
Other debts
-€100,425
Accrued charges and deferred income
+€149,282
Investment (derived)
-€107,252
Investment in fixed assets (net)
-€107,252
Financing
+€198,894
Debts after one year
-€5,205
Current portion of long-term debt
-€7,209
Short-term financial debts
+€212,975
Contributions, distributions and other
-€1,667
Cash 2025
€76,655
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €574,921 | €731,371 | +€156,450 | +27.2% |
| Fixed assets | 21/28 | €283,694 | €308,049 | +€24,355 | +8.6% |
| Intangible fixed assets | 21 | €96,542 | €148,028 | +€51,486 | +53.3% |
| Tangible fixed assets | 22/27 | €63,277 | €36,146 | -€27,131 | -42.9% |
| Furniture and vehicles | 24 | €63,277 | €36,146 | -€27,131 | -42.9% |
| Financial fixed assets | 28 | €123,875 | €123,875 | = | 0.0% |
| Current assets | 29/58 | €291,227 | €423,322 | +€132,095 | +45.4% |
| Amounts receivable within one year | 40/41 | €208,300 | €343,275 | +€134,975 | +64.8% |
| Trade receivables | 40 | €208,300 | €322,917 | +€114,617 | +55.0% |
| Other amounts receivable | 41 | - | €20,358 | +€20,358 | |
| Cash at bank and in hand | 54/58 | €77,512 | €76,655 | -€857 | -1.1% |
| Deferred charges and accrued income | 490/1 | €5,415 | €3,392 | -€2,023 | -37.4% |
| Total equity and liabilities | 10/49 | €574,921 | €731,371 | +€156,450 | +27.2% |
| Equity | 10/15 | €157,817 | €51,335 | -€106,482 | -67.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,117 | -€17,698 | -€104,815 | |
| Investment grants | 15 | €2,500 | €833 | -€1,667 | -66.7% |
| Amounts payable | 17/49 | €417,104 | €680,036 | +€262,932 | +63.0% |
| Amounts payable after more than one year | 17 | €5,205 | - | -€5,205 | |
| Financial debts | 170/4 | €5,205 | - | -€5,205 | |
| Amounts payable within one year | 42/48 | €291,526 | €410,381 | +€118,855 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €12,414 | €5,205 | -€7,209 | -58.1% |
| Financial debts | 43 | - | €212,975 | +€212,975 | |
| Other loans | 439 | - | €212,975 | +€212,975 | |
| Trade debts | 44 | €80,611 | €104,728 | +€24,117 | +29.9% |
| Suppliers | 440/4 | €80,611 | €104,728 | +€24,117 | +29.9% |
| Taxes, remuneration and social security | 45 | €96,760 | €86,157 | -€10,603 | -11.0% |
| Taxes | 450/3 | €45,988 | €38,346 | -€7,642 | -16.6% |
| Remuneration and social security | 454/9 | €50,772 | €47,811 | -€2,961 | -5.8% |
| Other amounts payable | 47/48 | €101,741 | €1,316 | -€100,425 | -98.7% |
| Accrued charges and deferred income | 492/3 | €120,373 | €269,655 | +€149,282 | +124% |
| Non-recurring operating income | 76A | - | €53 | +€53 | |
| Remuneration, social security and pensions | 62 | €386,580 | €375,886 | -€10,694 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,205 | €82,897 | +€34,692 | +72.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,564 | - | -€3,564 | |
| Other operating charges | 640/8 | €3,006 | €7,601 | +€4,595 | +153% |
| Non-recurring operating charges | 66A | €294 | - | -€294 | |
| Gross operating margin | 9900 | €687,171 | €366,510 | -€320,661 | -46.7% |
| Operating profit (loss) | 9901 | €245,522 | -€99,874 | -€345,396 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €579 | €3,450 | +€2,871 | +496% |
| Recurring financial charges | 65 | €579 | €3,450 | +€2,871 | +496% |
| Profit (loss) for the period before taxes | 9903 | €244,943 | -€103,321 | -€348,264 | |
| Income taxes | 67/77 | €70,096 | €1,494 | -€68,602 | -97.9% |
| Profit (loss) for the period | 9904 | €174,847 | -€104,815 | -€279,662 | |
| Profit (loss) for the period to be appropriated | 9905 | €174,847 | -€104,815 | -€279,662 |
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 20 October 2026 via checked.be.