CELLOR
ActiveSummary
CELLOR has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €530,895 and a net result of €3,944. Equity is growing by about 7.4% per year across the filed financial years. Its solvency ranks better than 72% of 782 sector peers (NACE 10, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Financials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€3,944
2024 · -€28,143
Working capital
-€21,886
2024 · €10,402
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result returns to profit in 2025: €23,286 after a loss of €31,557 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€23,286
2025
Net result€3,944
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€919,121
2025
Equity€530,895
2025
Debt€388,226
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€21,886
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.4%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency57.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.63
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 10, Manufacture of food products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€82,855-€74,804▼ 9.7%€63,452▼ 15.2%€59,710▼ 5.9%€57,654▼ 3.4%-€31,557€23,286
Net result€92,692-€46,773within the sector's middle half▼ 49.5%€71,630within the sector's middle half▲ 53.1%€39,740within the sector's middle half▼ 44.5%€86,111within the sector's middle half▲ 117%-€28,143below the sector's middle half€3,944within the sector's middle half
Equity€350,275-€367,048within the sector's middle half▲ 4.8%€438,678within the sector's middle half▲ 19.5%€478,418within the sector's middle half▲ 9.1%€555,995within the sector's middle half▲ 16.2%€527,852within the sector's middle half▼ 5.1%€530,895within the sector's middle half▲ 0.6%
Total assets€540,210-€529,805below the sector's middle half▼ 1.9%€564,556below the sector's middle half▲ 6.6%€567,056below the sector's middle half▲ 0.4%€613,034below the sector's middle half▲ 8.1%€859,249below the sector's middle half▲ 40.2%€919,121below the sector's middle half▲ 7.0%
Debt€189,935-€162,758▼ 14.3%€125,879▼ 22.7%€88,638▼ 29.6%€57,040▼ 35.6%€331,397▲ 481%€388,226▲ 17.1%
Working capital-€4,718--€11,531within the sector's middle half▼ 144%-€9,574within the sector's middle half▲ 17.0%-€9,285within the sector's middle half▲ 3.0%€40,811within the sector's middle half€10,402within the sector's middle half▼ 74.5%-€21,886within the sector's middle half
Solvency64.8%-69.3%above the sector's middle half▲ 4.4pp77.7%above the sector's middle half▲ 8.4pp84.4%above the sector's middle half▲ 6.7pp90.7%above the sector's middle half▲ 6.3pp61.4%above the sector's middle half▼ 29.3pp57.8%within the sector's middle half▼ 3.7pp
Current ratio0.93-0.82below the sector's middle half▼ 0.110.85below the sector's middle half▲ 0.030.86below the sector's middle half▲ 0.011.73within the sector's middle half▲ 0.871.22within the sector's middle half▼ 0.510.63below the sector's middle half▼ 0.59
Return on assets (ROA)17.2%-8.8%within the sector's middle half▼ 8.3pp12.7%above the sector's middle half▲ 3.9pp7.0%within the sector's middle half▼ 5.7pp14.0%above the sector's middle half▲ 7.0pp-3.3%below the sector's middle half▼ 17.3pp0.4%within the sector's middle half▲ 3.7pp
above
within
below
the middle half of NACE 10, Manufacture of food products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €919,121
Fixed assets
€882,412 ▲ 10.1%
Current assets
€36,709 ▼ 36.4%
Equity and liabilities €919,121
Equity
€530,895 ▲ 0.6%
Debt
€388,226 ▲ 17.1%
Debt's share of the balance-sheet total rises from 38.6% to 42.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35,348▲
2024 · -€26,598
Cash flow
€16,006▲
2024 · -€23,183
Debt to equity
0.73▲
2024 · 0.63
ROE
0.7%▲
2024 · -5.3%
Interest coverage
0.72▲
2024 · -2.32
Debt ≤ 1 year
€58,594▲
2024 · €47,301
Debt > 1 year
€327,196▲
2024 · €282,792
Income taxes
€233▼
2024 · €246
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €419 | €419 | €4,579 | €0 | €418 | €4,960 | €12,062 | ▲ 143% |
| Other operating charges640/8 | - | - | - | €159 | €1,459 | €60,649 | €15,909 | ▼ 73.8% |
| Gross operating margin9900 | €83,697 | €75,691 | €68,450 | €59,869 | €59,531 | €34,051 | €51,257 | ▲ 50.5% |
| Operating profit (loss)9901 | €82,855 | €74,804 | €63,452 | €59,710 | €57,654 | -€31,557 | €23,286 | - |
| Financial income75/76B | - | - | - | €0 | €50,000 | €15,131 | €30,028 | ▲ 98.5% |
| Recurring financial income75 | €40,000 | - | €30,000 | €0 | €50,000 | €15,131 | €30,028 | ▲ 98.5% |
| Financial charges65/66B | - | - | - | €4,876 | €3,944 | €11,471 | €49,137 | ▲ 328% |
| Recurring financial charges65 | €7,264 | €6,987 | €6,135 | €4,876 | €3,944 | €11,471 | €49,137 | ▲ 328% |
| Profit (loss) for the period before taxes9903 | €115,591 | €67,817 | €87,317 | €54,834 | €103,710 | -€27,897 | €4,177 | - |
| Income taxes67/77 | €22,899 | €21,044 | €15,687 | €15,094 | €17,599 | €246 | €233 | ▼ 4.9% |
| Profit (loss) for the period9904 | €92,692 | €46,773 | €71,630 | €39,740 | €86,111 | -€28,143 | €3,944 | - |
| Profit (loss) for the period to be appropriated9905 | €92,692 | €46,773 | €71,630 | €39,740 | €86,111 | -€28,143 | €3,944 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €540,210 | €529,805 | €564,556 | €567,056 | €613,034 | €859,249 | €919,121 | ▲ 7.0% |
| Fixed assets21/28 | €479,423 | €479,005 | €510,586 | €510,586 | €516,572 | €801,547 | €882,412 | ▲ 10.1% |
| Tangible fixed assets22/27 | €837 | €419 | €32,000 | €32,000 | €37,986 | €322,961 | €403,826 | ▲ 25.0% |
| Land and buildings22 | - | - | - | €32,000 | €32,000 | €320,881 | €402,255 | ▲ 25.4% |
| Other tangible fixed assets26 | - | - | - | - | €5,986 | €2,079 | €1,571 | ▼ 24.4% |
| Financial fixed assets28 | €478,586 | €478,586 | €478,586 | €478,586 | €478,586 | €478,586 | €478,586 | = |
| Current assets29/58 | €60,787 | €50,801 | €53,970 | €56,470 | €96,463 | €57,702 | €36,709 | ▼ 36.4% |
| Amounts receivable within one year40/41 | €52,100 | €19,800 | €16,911 | €17,578 | €19,053 | €54,220 | €31,277 | ▼ 42.3% |
| Trade receivables40 | - | - | - | €12,672 | €16,652 | €34,426 | €11,433 | ▼ 66.8% |
| Other amounts receivable41 | - | - | - | €4,906 | €2,401 | €19,793 | €19,844 | ▲ 0.3% |
| Cash at bank and in hand54/58 | €8,635 | €29,613 | €35,662 | €37,479 | €76,761 | €2,819 | €3,041 | ▲ 7.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1,413 | €649 | €664 | €2,390 | ▲ 260% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €540,210 | €529,805 | €564,556 | €567,056 | €613,034 | €859,249 | €919,121 | ▲ 7.0% |
| Equity10/15 | €350,275 | €367,048 | €438,678 | €478,418 | €555,995 | €527,852 | €530,895 | ▲ 0.6% |
| Contributions10/11 | €12,400 | - | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €79,437 | €77,577 | €77,577 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | - | €77,577 | €77,577 | €77,577 | = |
| Profit (loss) carried forward14 | €336,015 | €352,788 | €424,418 | €464,158 | €464,158 | €437,875 | €440,919 | ▲ 0.7% |
| Amounts payable17/49 | €189,935 | €162,758 | €125,879 | €88,638 | €57,040 | €331,397 | €388,226 | ▲ 17.1% |
| Amounts payable after more than one year17 | €123,569 | €99,551 | €61,457 | €22,354 | €377 | €282,792 | €327,196 | ▲ 15.7% |
| Financial debts170/4 | - | - | - | €22,354 | €377 | €282,792 | €327,196 | ▲ 15.7% |
| Amounts payable within one year42/48 | €65,505 | €62,331 | €63,545 | €65,755 | €55,651 | €47,301 | €58,594 | ▲ 23.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €39,103 | €21,978 | €7,443 | €15,361 | ▲ 106% |
| Trade debts44 | €407 | €1,259 | €1,409 | €1,254 | €833 | €3,992 | €6,959 | ▲ 74.3% |
| Suppliers440/4 | - | - | - | €1,254 | €833 | €3,992 | €6,959 | ▲ 74.3% |
| Taxes, remuneration and social security45 | - | - | - | €4,456 | €2,499 | €14,930 | €1,555 | ▼ 89.6% |
| Taxes450/3 | - | - | - | €4,456 | €2,499 | €13,430 | €1,555 | ▼ 88.4% |
| Remuneration and social security454/9 | - | - | - | - | - | €1,500 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €20,941 | €30,341 | €20,935 | €34,719 | ▲ 65.8% |
| Accrued charges and deferred income492/3 | - | - | - | €529 | €1,012 | €1,304 | €2,436 | ▲ 86.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92,692 | €46,773 | €71,630 | €39,740 | €86,111 | -€28,143 | €3,944 | - |
| + Depreciation and write-downs630 | €419 | €419 | €4,579 | €0 | €418 | €4,960 | €12,062 | ▲ 143% |
| Operating cash flow (approximation) | €93,111 | €47,191 | €76,209 | €39,740 | €86,529 | -€23,183 | €16,006 | - |
| Investment in fixed assets (approximation) | - | €0 | -€36,160 | €0 | -€6,404 | -€289,935 | -€92,928 | ▲ 67.9% |
| Change in cash | - | €20,978 | €6,050 | €1,817 | €39,282 | -€73,942 | €223 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | full format | 22-12-2025 | 2025-00590540 |
| 30-06-2024 | full format | 19-12-2024 | 2024-00621305 |
| 30-06-2023 | full format | 19-12-2023 | 2023-00536790 |
| 30-06-2022 | full format | 28-11-2022 | 2022-20531310 |
| 30-06-2021 | full format | 06-12-2021 | 2021-79400280 |
| 30-06-2020 | full format | 18-12-2020 | 2020-76100206 |
| 30-06-2019 | full format | 16-12-2019 | 2019-76100560 |
| 30-06-2018 | full format | 11-12-2018 | 2018-74300281 |
| 30-06-2017 | full format | 12-12-2017 | 2017-71500491 |
| 30-06-2016 | full format | 12-12-2016 | 2016-70100254 |
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Of the 268 active companies whose main activity is manufacture of food products (NACE 10510), figures are known for 121. 72 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.