Ceusters: 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.
Ceusters
Largest movements
- Receivables within one year -€46,831
down €46,831 (-44.1%), from €106,223 to €59,391
of which Trade receivables: -€64,800
- Cash +€37,133
up €37,133 (+203%), from €18,320 to €55,453
mainly Receivables within one year (+€46,831) and Depreciation (+€31,406)
- Tangible fixed assets -€26,561
down €26,561 (-8.1%), from €328,979 to €302,418
of which Furniture and vehicles: -€24,247
- Debts after one year -€33,069
down €33,069 (-30.5%), from €108,499 to €75,430
- Short-term financial debts +€23,375
up €23,375 (+202%), from €11,555 to €34,930
- Tax, wage and social debts -€12,411
down €12,411 (-50.2%), from €24,735 to €12,324
of which Taxes: -€7,067
- Current portion of long-term debt -€7,453
down €7,453 (-17.9%), from €41,693 to €34,240
- Staff costs -€28,868
down €28,868 (-27.8%), from €103,949 to €75,081
- Gross operating margin -€24,181
down €24,181 (-17.4%), from €139,258 to €115,078
- Depreciation -€6,832
down €6,832 (-17.9%), from €38,239 to €31,406
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 | €485,101 | €454,577 | -€30,523 | -6.3% |
| Fixed assets | 21/28 | €328,979 | €302,418 | -€26,561 | -8.1% |
| Tangible fixed assets | 22/27 | €328,979 | €302,418 | -€26,561 | -8.1% |
| Land and buildings | 22 | €232,580 | €232,580 | = | 0.0% |
| Plant, machinery and equipment | 23 | €34,110 | €31,797 | -€2,314 | -6.8% |
| Furniture and vehicles | 24 | €62,288 | €38,041 | -€24,247 | -38.9% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €156,122 | €152,160 | -€3,962 | -2.5% |
| Stocks and contracts in progress | 3 | €28,697 | €33,045 | +€4,348 | +15.2% |
| Stocks | 30/36 | €28,697 | €33,045 | +€4,348 | +15.2% |
| Amounts receivable within one year | 40/41 | €106,223 | €59,391 | -€46,831 | -44.1% |
| Trade receivables | 40 | €92,529 | €27,729 | -€64,800 | -70.0% |
| Other amounts receivable | 41 | €13,694 | €31,662 | +€17,969 | +131% |
| Cash at bank and in hand | 54/58 | €18,320 | €55,453 | +€37,133 | +203% |
| Deferred charges and accrued income | 490/1 | €2,882 | €4,270 | +€1,388 | +48.2% |
| Total equity and liabilities | 10/49 | €485,101 | €454,577 | -€30,523 | -6.3% |
| Equity | 10/15 | €267,298 | €265,354 | -€1,944 | -0.7% |
| Contributions | 10/11 | €18,601 | €18,601 | = | 0.0% |
| Reserves | 13 | €259,238 | €259,238 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,082 | €4,082 | = | 0.0% |
| Distributable reserves | 133 | €255,157 | €255,157 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,541 | -€12,485 | -€1,944 | -18.4% |
| Amounts payable | 17/49 | €217,803 | €189,223 | -€28,580 | -13.1% |
| Amounts payable after more than one year | 17 | €108,499 | €75,430 | -€33,069 | -30.5% |
| Financial debts | 170/4 | €108,499 | €75,430 | -€33,069 | -30.5% |
| Amounts payable within one year | 42/48 | €107,385 | €112,849 | +€5,464 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €41,693 | €34,240 | -€7,453 | -17.9% |
| Financial debts | 43 | €11,555 | €34,930 | +€23,375 | +202% |
| Credit institutions | 430/8 | €11,555 | €34,930 | +€23,375 | +202% |
| Trade debts | 44 | €28,913 | €30,913 | +€2,000 | +6.9% |
| Suppliers | 440/4 | €28,913 | €30,913 | +€2,000 | +6.9% |
| Taxes, remuneration and social security | 45 | €24,735 | €12,324 | -€12,411 | -50.2% |
| Taxes | 450/3 | €10,621 | €3,554 | -€7,067 | -66.5% |
| Remuneration and social security | 454/9 | €14,113 | €8,770 | -€5,344 | -37.9% |
| Other amounts payable | 47/48 | €489 | €443 | -€47 | -9.5% |
| Accrued charges and deferred income | 492/3 | €1,918 | €944 | -€974 | -50.8% |
| Remuneration, social security and pensions | 62 | €103,949 | €75,081 | -€28,868 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,239 | €31,406 | -€6,832 | -17.9% |
| Other operating charges | 640/8 | €3,265 | €3,378 | +€113 | +3.5% |
| Gross operating margin | 9900 | €139,258 | €115,078 | -€24,181 | -17.4% |
| Operating profit (loss) | 9901 | -€6,194 | €5,212 | +€11,407 | |
| Financial income | 75/76B | €222 | €185 | -€37 | -16.8% |
| Recurring financial income | 75 | €222 | €185 | -€37 | -16.8% |
| Financial charges | 65/66B | €6,381 | €6,647 | +€266 | +4.2% |
| Recurring financial charges | 65 | €6,381 | €6,647 | +€266 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,354 | -€1,250 | +€11,104 | +89.9% |
| Income taxes | 67/77 | €1,306 | €694 | -€612 | -46.9% |
| Profit (loss) for the period | 9904 | -€13,660 | -€1,944 | +€11,716 | +85.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,660 | -€1,944 | +€11,716 | +85.8% |
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 24 October 2026 via checked.be.