CEL INVEST: 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.
CEL INVEST
Largest movements
- Tangible fixed assets -€5,753
down €5,753 (-6.8%), from €84,245 to €78,492
- Cash +€2,168
up €2,168 (+7,563%), from €29 to €2,196
mainly Depreciation (+€5,753) and Other debts (+€3,211)
- Profit (loss) carried forward -€6,625
down €6,625 (-18.2%), from €36,311 to €29,686
- Other debts +€3,211
up €3,211 (+11.5%), from €27,837 to €31,048
- Gross operating margin +€3,805
up €3,805, from -€1,701 to €2,104
- Other operating charges +€87
up €87 (+3.1%), from €2,835 to €2,921
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 | €84,753 | €81,194 | -€3,559 | -4.2% |
| Fixed assets | 21/28 | €84,245 | €78,492 | -€5,753 | -6.8% |
| Tangible fixed assets | 22/27 | €84,245 | €78,492 | -€5,753 | -6.8% |
| Land and buildings | 22 | €84,245 | €78,492 | -€5,753 | -6.8% |
| Current assets | 29/58 | €508 | €2,702 | +€2,194 | +432% |
| Cash at bank and in hand | 54/58 | €29 | €2,196 | +€2,168 | +7,563% |
| Deferred charges and accrued income | 490/1 | €479 | €506 | +€26 | +5.5% |
| Total equity and liabilities | 10/49 | €84,753 | €81,194 | -€3,559 | -4.2% |
| Equity | 10/15 | €56,771 | €50,146 | -€6,625 | -11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €36,311 | €29,686 | -€6,625 | -18.2% |
| Amounts payable | 17/49 | €27,982 | €31,048 | +€3,065 | +11.0% |
| Amounts payable within one year | 42/48 | €27,982 | €31,048 | +€3,065 | +11.0% |
| Trade debts | 44 | €145 | - | -€145 | |
| Suppliers | 440/4 | €145 | - | -€145 | |
| Other amounts payable | 47/48 | €27,837 | €31,048 | +€3,211 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,753 | €5,753 | = | 0.0% |
| Other operating charges | 640/8 | €2,835 | €2,921 | +€87 | +3.1% |
| Gross operating margin | 9900 | -€1,701 | €2,104 | +€3,805 | |
| Operating profit (loss) | 9901 | -€10,290 | -€6,571 | +€3,719 | +36.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €66 | €54 | -€12 | -18.4% |
| Recurring financial charges | 65 | €66 | €54 | -€12 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,356 | -€6,625 | +€3,731 | +36.0% |
| Profit (loss) for the period | 9904 | -€10,356 | -€6,625 | +€3,731 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,356 | -€6,625 | +€3,731 | +36.0% |
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 23 October 2026 via checked.be.