Céladon: 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.
Céladon
Largest movements
- Current investments -€2.1m
down €2.1m (-100%), from €2.1m to €0
- Cash +€1.5m
up €1.5m (+1,741%), from €88,574 to €1.6m
mainly Current investments (+€2.1m) and Debts after one year (+€246,552)
- Tangible fixed assets +€651,372
up €651,372 (+28.2%), from €2.3m to €3.0m
of which Land and buildings: +€602,551
- Debts after one year +€246,552
up €246,552 (+23.7%), from €1.0m to €1.3m
of which Financial debts: +€246,577
- Reserves -€81,762
down €81,762 (-3.1%), from €2.7m to €2.6m
of which Tax-exempt reserves: -€81,762
- Depreciation +€43,623
up €43,623 (+51.4%), from €84,917 to €128,541
- Financial income -€29,028
down €29,028 (-48.7%), from €59,554 to €30,525
- Financial charges +€22,159
up €22,159 (+94.9%), from €23,361 to €45,519
- Gross operating margin +€2,233
up €2,233 (+25.1%), from €8,886 to €11,119
- Other operating charges +€1,759
up €1,759 (+31.3%), from €5,614 to €7,374
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 | €4,529,845 | €4,636,500 | +€106,655 | +2.4% |
| Fixed assets | 21/28 | €2,310,830 | €2,962,202 | +€651,372 | +28.2% |
| Tangible fixed assets | 22/27 | €2,310,691 | €2,962,063 | +€651,372 | +28.2% |
| Land and buildings | 22 | €2,310,594 | €2,913,144 | +€602,551 | +26.1% |
| Furniture and vehicles | 24 | €97 | €827 | +€731 | +754% |
| Assets under construction and advance payments | 27 | - | €48,091 | +€48,091 | |
| Financial fixed assets | 28 | €139 | €139 | = | 0.0% |
| Current assets | 29/58 | €2,219,015 | €1,674,298 | -€544,717 | -24.5% |
| Amounts receivable within one year | 40/41 | €28,997 | €41,079 | +€12,082 | +41.7% |
| Trade receivables | 40 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | €28,997 | €36,079 | +€7,082 | +24.4% |
| Current investments | 50/53 | €2,100,000 | €0 | -€2.1m | -100% |
| Cash at bank and in hand | 54/58 | €88,574 | €1,630,207 | +€1.5m | +1,741% |
| Deferred charges and accrued income | 490/1 | €1,444 | €3,012 | +€1,569 | +109% |
| Total equity and liabilities | 10/49 | €4,529,845 | €4,636,500 | +€106,655 | +2.4% |
| Equity | 10/15 | €2,548,032 | €2,435,273 | -€112,759 | -4.4% |
| Contributions | 10/11 | €104,800 | €104,800 | = | 0.0% |
| Reserves | 13 | €2,656,643 | €2,574,881 | -€81,762 | -3.1% |
| Tax-exempt reserves | 132 | €2,614,892 | €2,533,130 | -€81,762 | -3.1% |
| Distributable reserves | 133 | €41,751 | €41,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€213,411 | -€244,408 | -€30,997 | -14.5% |
| Provisions and deferred taxes | 16 | €871,631 | €844,377 | -€27,254 | -3.1% |
| Deferred taxes | 168 | €871,631 | €844,377 | -€27,254 | -3.1% |
| Amounts payable | 17/49 | €1,110,182 | €1,356,850 | +€246,668 | +22.2% |
| Amounts payable after more than one year | 17 | €1,039,524 | €1,286,076 | +€246,552 | +23.7% |
| Financial debts | 170/4 | €1,039,499 | €1,286,076 | +€246,577 | +23.7% |
| Other amounts payable | 178/9 | €25 | €0 | -€25 | -100% |
| Amounts payable within one year | 42/48 | €67,808 | €65,824 | -€1,984 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €46,563 | €55,373 | +€8,809 | +18.9% |
| Financial debts | 43 | €24 | €7 | -€17 | -69.5% |
| Credit institutions | 430/8 | €24 | €7 | -€17 | -69.5% |
| Trade debts | 44 | €6,079 | €3,750 | -€2,329 | -38.3% |
| Suppliers | 440/4 | €6,079 | €3,750 | -€2,329 | -38.3% |
| Taxes, remuneration and social security | 45 | €174 | €0 | -€174 | -100% |
| Taxes | 450/3 | €174 | €0 | -€174 | -100% |
| Other amounts payable | 47/48 | €14,967 | €6,693 | -€8,274 | -55.3% |
| Accrued charges and deferred income | 492/3 | €2,850 | €4,950 | +€2,100 | +73.7% |
| Non-recurring operating income | 76A | - | €41 | +€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,917 | €128,541 | +€43,623 | +51.4% |
| Other operating charges | 640/8 | €5,614 | €7,374 | +€1,759 | +31.3% |
| Non-recurring operating charges | 66A | €960 | €59 | -€901 | -93.8% |
| Gross operating margin | 9900 | €8,886 | €11,119 | +€2,233 | +25.1% |
| Operating profit (loss) | 9901 | -€82,605 | -€124,854 | -€42,249 | -51.1% |
| Financial income | 75/76B | €59,554 | €30,525 | -€29,028 | -48.7% |
| Recurring financial income | 75 | €59,554 | €30,525 | -€29,028 | -48.7% |
| Financial charges | 65/66B | €23,361 | €45,519 | +€22,159 | +94.9% |
| Recurring financial charges | 65 | €23,361 | €45,519 | +€22,159 | +94.9% |
| Profit (loss) for the period before taxes | 9903 | -€46,412 | -€139,848 | -€93,436 | -201% |
| Transfer from deferred taxes | 780 | €13,026 | €27,254 | +€14,228 | +109% |
| Income taxes | 67/77 | €650 | €165 | -€485 | -74.6% |
| Profit (loss) for the period | 9904 | -€34,036 | -€112,759 | -€78,723 | -231% |
| Transfer from tax-exempt reserves | 789 | €39,078 | €81,762 | +€42,684 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €5,042 | -€30,997 | -€36,040 |
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 30 October 2026 via checked.be.