ABCellulose: 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.
ABCellulose
Largest movements
- Tangible fixed assets +€81,211
up €81,211 (+15.9%), from €509,742 to €590,954
of which Land and buildings: +€95,923
- Stocks and contracts -€27,702
down €27,702 (-94.0%), from €29,455 to €1,754
- Receivables within one year +€18,312
up €18,312 (+165.2%), from €11,084 to €29,396
of which Trade receivables: +€9,743
- Other debts +€43,361
up €43,361 (+58.0%), from €74,778 to €118,139
- Trade debts +€20,240
up €20,240 (+157.5%), from €12,850 to €33,090
- Debts after one year +€14,380
up €14,380 (+7.7%), from €186,439 to €200,819
- Reserves +€11,000
up €11,000 (+14.4%), from €76,200 to €87,200
of which Distributable reserves: +€11,000
- Short-term financial debts -€7,755
down €7,755 (-89.4%), from €8,675 to €920
- Staff costs +€5,364
up €5,364 (+35.4%), from €15,138 to €20,501
- Taxes -€5,353
down €5,353 (-49.0%), from €10,933 to €5,581
- Gross operating margin -€4,394
down €4,394 (-4.2%), from €104,816 to €100,422
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 | €559,846 | €631,099 | +€71,254 | +12.7% |
| Fixed assets | 21/28 | €511,635 | €591,226 | +€79,591 | +15.6% |
| Intangible fixed assets | 21 | €1,893 | €272 | -€1,621 | -85.6% |
| Tangible fixed assets | 22/27 | €509,742 | €590,954 | +€81,211 | +15.9% |
| Land and buildings | 22 | €478,114 | €574,037 | +€95,923 | +20.1% |
| Plant, machinery and equipment | 23 | €11,896 | €933 | -€10,963 | -92.2% |
| Furniture and vehicles | 24 | €19,732 | €15,984 | -€3,749 | -19.0% |
| Current assets | 29/58 | €48,211 | €39,874 | -€8,337 | -17.3% |
| Stocks and contracts in progress | 3 | €29,455 | €1,754 | -€27,702 | -94.0% |
| Stocks | 30/36 | €29,455 | €1,754 | -€27,702 | -94.0% |
| Amounts receivable within one year | 40/41 | €11,084 | €29,396 | +€18,312 | +165.2% |
| Trade receivables | 40 | €11,082 | €20,825 | +€9,743 | +87.9% |
| Other amounts receivable | 41 | €2 | €8,571 | +€8,569 | +437180.1% |
| Cash at bank and in hand | 54/58 | €1,252 | €3,092 | +€1,840 | +146.9% |
| Deferred charges and accrued income | 490/1 | €6,419 | €5,632 | -€787 | -12.3% |
| Total equity and liabilities | 10/49 | €559,846 | €631,099 | +€71,254 | +12.7% |
| Equity | 10/15 | €227,200 | €238,298 | +€11,098 | +4.9% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €76,200 | €87,200 | +€11,000 | +14.4% |
| Tax-exempt reserves | 132 | €10,500 | €10,500 | = | 0.0% |
| Distributable reserves | 133 | €65,700 | €76,700 | +€11,000 | +16.7% |
| Profit (loss) carried forward | 14 | €1,000 | €1,098 | +€98 | +9.8% |
| Amounts payable | 17/49 | €332,645 | €392,801 | +€60,156 | +18.1% |
| Amounts payable after more than one year | 17 | €186,439 | €200,819 | +€14,380 | +7.7% |
| Financial debts | 170/4 | €186,439 | €200,819 | +€14,380 | +7.7% |
| Amounts payable within one year | 42/48 | €139,990 | €183,520 | +€43,530 | +31.1% |
| Current portion of amounts payable after more than one year | 42 | €31,621 | €25,620 | -€6,000 | -19.0% |
| Financial debts | 43 | €8,675 | €920 | -€7,755 | -89.4% |
| Credit institutions | 430/8 | €8,675 | €920 | -€7,755 | -89.4% |
| Trade debts | 44 | €12,850 | €33,090 | +€20,240 | +157.5% |
| Suppliers | 440/4 | €12,850 | €33,090 | +€20,240 | +157.5% |
| Taxes, remuneration and social security | 45 | €12,066 | €5,750 | -€6,317 | -52.3% |
| Taxes | 450/3 | €3,545 | €950 | -€2,595 | -73.2% |
| Remuneration and social security | 454/9 | €8,522 | €4,800 | -€3,722 | -43.7% |
| Other amounts payable | 47/48 | €74,778 | €118,139 | +€43,361 | +58.0% |
| Accrued charges and deferred income | 492/3 | €6,216 | €8,463 | +€2,247 | +36.1% |
| Remuneration, social security and pensions | 62 | €15,138 | €20,501 | +€5,364 | +35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,059 | €39,607 | +€548 | +1.4% |
| Other operating charges | 640/8 | €5,646 | €6,326 | +€681 | +12.1% |
| Non-recurring operating charges | 66A | - | €390 | +€390 | |
| Gross operating margin | 9900 | €104,816 | €100,422 | -€4,394 | -4.2% |
| Operating profit (loss) | 9901 | €44,974 | €33,597 | -€11,376 | -25.3% |
| Financial income | 75/76B | €9 | €5 | -€4 | -46.6% |
| Recurring financial income | 75 | €9 | €5 | -€4 | -46.6% |
| Financial charges | 65/66B | €15,985 | €16,924 | +€940 | +5.9% |
| Recurring financial charges | 65 | €15,985 | €16,924 | +€940 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €28,998 | €16,678 | -€12,320 | -42.5% |
| Income taxes | 67/77 | €10,933 | €5,581 | -€5,353 | -49.0% |
| Profit (loss) for the period | 9904 | €18,065 | €11,098 | -€6,968 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,065 | €11,098 | -€6,968 | -38.6% |
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 10 October 2026 via checked.be.