CELA: 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.
CELA
Largest movements
- Cash +€146,209
up €146,209 (+68.5%), from €213,424 to €359,633
mainly Trade debts (+€109,897) and Net result for the year (+€71,535)
- Receivables within one year +€52,690
up €52,690 (+36.6%), from €143,929 to €196,619
of which Other amounts receivable: +€35,807
- Stocks and contracts -€27,086
down €27,086 (-23.0%), from €117,860 to €90,774
- Deferred charges and accrued income +€25,080
up €25,080 (+441%), from €5,686 to €30,766
- Tangible fixed assets -€13,907
down €13,907 (-22.7%), from €61,296 to €47,389
- Trade debts +€109,897
up €109,897 (+35.1%), from €313,144 to €423,041
- Reserves +€71,535
up €71,535 (+48.0%), from €149,109 to €220,644
- Tax, wage and social debts +€7,490
up €7,490 (+18.8%), from €39,775 to €47,265
of which Taxes: +€22,728
- Gross operating margin +€73,719
up €73,719 (+45.2%), from €163,207 to €236,926
- Taxes +€19,016
up €19,016 (+118%), from €16,087 to €35,103
- Write-downs +€15,000
new in 2025: €15,000
- Staff costs +€7,255
up €7,255 (+8.6%), from €84,696 to €91,951
- Other operating charges -€6,701
down €6,701 (-51.4%), from €13,027 to €6,325
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 | €542,195 | €725,181 | +€182,987 | +33.7% |
| Fixed assets | 21/28 | €61,296 | €47,389 | -€13,907 | -22.7% |
| Tangible fixed assets | 22/27 | €61,296 | €47,389 | -€13,907 | -22.7% |
| Plant, machinery and equipment | 23 | €2,977 | €2,436 | -€541 | -18.2% |
| Furniture and vehicles | 24 | €11,428 | €7,178 | -€4,250 | -37.2% |
| Leasing and similar rights | 25 | €14,465 | €9,253 | -€5,212 | -36.0% |
| Other tangible fixed assets | 26 | €32,425 | €28,522 | -€3,903 | -12.0% |
| Current assets | 29/58 | €480,899 | €677,792 | +€196,893 | +40.9% |
| Stocks and contracts in progress | 3 | €117,860 | €90,774 | -€27,086 | -23.0% |
| Stocks | 30/36 | €117,860 | €90,774 | -€27,086 | -23.0% |
| Amounts receivable within one year | 40/41 | €143,929 | €196,619 | +€52,690 | +36.6% |
| Trade receivables | 40 | €142,538 | €159,421 | +€16,883 | +11.8% |
| Other amounts receivable | 41 | €1,391 | €37,198 | +€35,807 | +2,574% |
| Cash at bank and in hand | 54/58 | €213,424 | €359,633 | +€146,209 | +68.5% |
| Deferred charges and accrued income | 490/1 | €5,686 | €30,766 | +€25,080 | +441% |
| Total equity and liabilities | 10/49 | €542,195 | €725,181 | +€182,987 | +33.7% |
| Equity | 10/15 | €167,709 | €239,244 | +€71,535 | +42.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €149,109 | €220,644 | +€71,535 | +48.0% |
| Distributable reserves | 133 | €149,109 | €220,644 | +€71,535 | +48.0% |
| Amounts payable | 17/49 | €374,485 | €485,937 | +€111,452 | +29.8% |
| Amounts payable after more than one year | 17 | €9,956 | €4,371 | -€5,585 | -56.1% |
| Financial debts | 170/4 | €9,956 | €4,371 | -€5,585 | -56.1% |
| Amounts payable within one year | 42/48 | €364,529 | €481,566 | +€117,037 | +32.1% |
| Current portion of amounts payable after more than one year | 42 | €5,270 | €5,585 | +€315 | +6.0% |
| Financial debts | 43 | €1,805 | €1,800 | -€5 | -0.3% |
| Credit institutions | 430/8 | €1,805 | €1,800 | -€5 | -0.3% |
| Trade debts | 44 | €313,144 | €423,041 | +€109,897 | +35.1% |
| Suppliers | 440/4 | €313,144 | €423,041 | +€109,897 | +35.1% |
| Advances received on contracts in progress | 46 | - | €2,901 | +€2,901 | |
| Taxes, remuneration and social security | 45 | €39,775 | €47,265 | +€7,490 | +18.8% |
| Taxes | 450/3 | €14,290 | €37,018 | +€22,728 | +159% |
| Remuneration and social security | 454/9 | €25,485 | €10,247 | -€15,237 | -59.8% |
| Other amounts payable | 47/48 | €4,534 | €973 | -€3,562 | -78.5% |
| Remuneration, social security and pensions | 62 | €84,696 | €91,951 | +€7,255 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,441 | €13,907 | -€535 | -3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,000 | +€15,000 | |
| Other operating charges | 640/8 | €13,027 | €6,325 | -€6,701 | -51.4% |
| Gross operating margin | 9900 | €163,207 | €236,926 | +€73,719 | +45.2% |
| Operating profit (loss) | 9901 | €51,043 | €109,743 | +€58,700 | +115% |
| Financial income | 75/76B | €1,636 | €2,430 | +€795 | +48.6% |
| Recurring financial income | 75 | €1,636 | €2,430 | +€795 | +48.6% |
| Financial charges | 65/66B | €5,575 | €5,536 | -€39 | -0.7% |
| Recurring financial charges | 65 | €5,575 | €5,536 | -€39 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €47,103 | €106,637 | +€59,534 | +126% |
| Income taxes | 67/77 | €16,087 | €35,103 | +€19,016 | +118% |
| Profit (loss) for the period | 9904 | €31,017 | €71,535 | +€40,518 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €31,017 | €71,535 | +€40,518 | +131% |
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 28 October 2026 via checked.be.