CED AUDIO: 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.
CED AUDIO
Largest movements
- Tangible fixed assets +€60,649
up €60,649 (+111.2%), from €54,551 to €115,200
of which Furniture and vehicles: +€62,979
- Receivables within one year -€14,647
down €14,647 (-36.9%), from €39,717 to €25,070
of which Trade receivables: -€11,228
- Cash -€10,944
down €10,944 (-86.8%), from €12,601 to €1,658
mainly Investment in fixed assets (net) (-€94,012) and Net result for the year (-€12,025)
- Debts after one year +€40,255
up €40,255 (+170.4%), from €23,622 to €63,878
- Profit (loss) carried forward -€12,025
down €12,025, from €5,978 to -€6,047
- Current portion of long-term debt +€4,590
up €4,590 (+22.5%), from €20,432 to €25,022
- Short-term financial debts +€4,349
new in 2025: €4,349
- Tax, wage and social debts -€2,138
down €2,138 (-17.1%), from €12,467 to €10,329
- Gross operating margin -€21,118
down €21,118 (-41.5%), from €50,858 to €29,741
- Depreciation +€12,139
up €12,139 (+57.2%), from €21,225 to €33,363
- Taxes -€5,706
down €5,706 (-98.1%), from €5,816 to €110
- Financial charges +€1,408
up €1,408 (+38.2%), from €3,684 to €5,092
- Other operating charges +€1,391
up €1,391 (+76.9%), from €1,809 to €3,200
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.
Cash bridge derived
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 | €108,064 | €144,419 | +€36,356 | +33.6% |
| Fixed assets | 21/28 | €55,051 | €115,700 | +€60,649 | +110.2% |
| Tangible fixed assets | 22/27 | €54,551 | €115,200 | +€60,649 | +111.2% |
| Furniture and vehicles | 24 | €38,547 | €101,527 | +€62,979 | +163.4% |
| Other tangible fixed assets | 26 | €16,004 | €13,673 | -€2,331 | -14.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €53,012 | €28,720 | -€24,293 | -45.8% |
| Amounts receivable within one year | 40/41 | €39,717 | €25,070 | -€14,647 | -36.9% |
| Trade receivables | 40 | €27,228 | €16,000 | -€11,228 | -41.2% |
| Other amounts receivable | 41 | €12,489 | €9,070 | -€3,419 | -27.4% |
| Cash at bank and in hand | 54/58 | €12,601 | €1,658 | -€10,944 | -86.8% |
| Deferred charges and accrued income | 490/1 | €694 | €1,992 | +€1,298 | +187.0% |
| Total equity and liabilities | 10/49 | €108,064 | €144,419 | +€36,356 | +33.6% |
| Equity | 10/15 | €37,771 | €25,747 | -€12,025 | -31.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €25,593 | €25,593 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,400 | €4,400 | = | 0.0% |
| Distributable reserves | 133 | €19,333 | €19,333 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,978 | -€6,047 | -€12,025 | |
| Amounts payable | 17/49 | €70,292 | €118,673 | +€48,380 | +68.8% |
| Amounts payable after more than one year | 17 | €23,622 | €63,878 | +€40,255 | +170.4% |
| Financial debts | 170/4 | €23,622 | €63,878 | +€40,255 | +170.4% |
| Amounts payable within one year | 42/48 | €46,581 | €54,795 | +€8,214 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €20,432 | €25,022 | +€4,590 | +22.5% |
| Financial debts | 43 | - | €4,349 | +€4,349 | |
| Credit institutions | 430/8 | - | €4,349 | +€4,349 | |
| Trade debts | 44 | €13,682 | €14,609 | +€927 | +6.8% |
| Suppliers | 440/4 | €13,682 | €14,609 | +€927 | +6.8% |
| Taxes, remuneration and social security | 45 | €12,467 | €10,329 | -€2,138 | -17.1% |
| Taxes | 450/3 | €12,467 | €10,329 | -€2,138 | -17.1% |
| Other amounts payable | 47/48 | - | €485 | +€485 | |
| Accrued charges and deferred income | 492/3 | €89 | - | -€89 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,225 | €33,363 | +€12,139 | +57.2% |
| Other operating charges | 640/8 | €1,809 | €3,200 | +€1,391 | +76.9% |
| Non-recurring operating charges | 66A | €14,082 | - | -€14,082 | |
| Gross operating margin | 9900 | €50,858 | €29,741 | -€21,118 | -41.5% |
| Operating profit (loss) | 9901 | €13,743 | -€6,823 | -€20,565 | |
| Financial charges | 65/66B | €3,684 | €5,092 | +€1,408 | +38.2% |
| Recurring financial charges | 65 | €3,684 | €5,092 | +€1,408 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €10,059 | -€11,915 | -€21,973 | |
| Income taxes | 67/77 | €5,816 | €110 | -€5,706 | -98.1% |
| Profit (loss) for the period | 9904 | €4,243 | -€12,025 | -€16,267 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,243 | -€12,025 | -€16,267 |
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 9 October 2026 via checked.be.