CELCO N.V.: 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.
CELCO N.V.
Largest movements
- Cash +€95,804
up €95,804 (+115%), from €83,357 to €179,161
mainly Net result for the year (+€162,264) and Depreciation (+€119,467)
- Tangible fixed assets -€69,974
down €69,974 (-6.1%), from €1.2m to €1.1m
of which Land and buildings: -€58,180
- Debts after one year -€58,778
down €58,778 (-6.7%), from €873,845 to €815,067
- Tax, wage and social debts +€31,794
up €31,794 (+66.0%), from €48,184 to €79,978
of which Remuneration and social security: +€24,771
- Reserves +€25,554
up €25,554 (+18.8%), from €136,134 to €161,688
of which Distributable reserves: +€25,554
- Other debts +€19,923
up €19,923 (+18.5%), from €107,855 to €127,778
- Investment grants +€18,694
up €18,694 (+31.2%), from €59,984 to €78,678
- Financial income +€118,000
up €118,000 (+330,902%), from €36 to €118,035
- Gross operating margin +€100,102
up €100,102 (+25.7%), from €390,217 to €490,319
- Staff costs +€44,036
up €44,036 (+18.8%), from €234,454 to €278,490
- Depreciation +€14,708
up €14,708 (+14.0%), from €104,760 to €119,467
- Taxes +€9,339
up €9,339 (+300%), from €3,115 to €12,454
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 | €1,453,489 | €1,474,383 | +€20,893 | +1.4% |
| Fixed assets | 21/28 | €1,151,127 | €1,081,153 | -€69,974 | -6.1% |
| Tangible fixed assets | 22/27 | €1,150,527 | €1,080,553 | -€69,974 | -6.1% |
| Land and buildings | 22 | €1,059,435 | €1,001,255 | -€58,180 | -5.5% |
| Plant, machinery and equipment | 23 | €65,763 | €53,910 | -€11,853 | -18.0% |
| Furniture and vehicles | 24 | €25,329 | €25,388 | +€59 | +0.2% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €302,363 | €393,230 | +€90,867 | +30.1% |
| Stocks and contracts in progress | 3 | €1,239 | €1,239 | = | 0.0% |
| Stocks | 30/36 | €1,239 | €1,239 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €215,956 | €210,993 | -€4,963 | -2.3% |
| Trade receivables | 40 | €185,321 | €180,357 | -€4,963 | -2.7% |
| Other amounts receivable | 41 | €30,635 | €30,635 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €83,357 | €179,161 | +€95,804 | +115% |
| Deferred charges and accrued income | 490/1 | €1,810 | €1,837 | +€27 | +1.5% |
| Total equity and liabilities | 10/49 | €1,453,489 | €1,474,383 | +€20,893 | +1.4% |
| Equity | 10/15 | €258,625 | €302,872 | +€44,247 | +17.1% |
| Contributions | 10/11 | €62,507 | €62,507 | = | 0.0% |
| Capital | 10 | €62,507 | €62,507 | = | 0.0% |
| Issued capital | 100 | €62,507 | €62,507 | = | 0.0% |
| Reserves | 13 | €136,134 | €161,688 | +€25,554 | +18.8% |
| Non-distributable reserves | 130/1 | €6,251 | €6,251 | = | 0.0% |
| Legal reserve | 130 | €6,251 | €6,251 | = | 0.0% |
| Distributable reserves | 133 | €129,883 | €155,437 | +€25,554 | +19.7% |
| Investment grants | 15 | €59,984 | €78,678 | +€18,694 | +31.2% |
| Amounts payable | 17/49 | €1,194,864 | €1,171,510 | -€23,354 | -2.0% |
| Amounts payable after more than one year | 17 | €873,845 | €815,067 | -€58,778 | -6.7% |
| Financial debts | 170/4 | €873,845 | €815,067 | -€58,778 | -6.7% |
| Amounts payable within one year | 42/48 | €320,669 | €355,743 | +€35,074 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €57,644 | €58,778 | +€1,134 | +2.0% |
| Trade debts | 44 | €106,987 | €89,209 | -€17,778 | -16.6% |
| Suppliers | 440/4 | €106,987 | €89,209 | -€17,778 | -16.6% |
| Taxes, remuneration and social security | 45 | €48,184 | €79,978 | +€31,794 | +66.0% |
| Taxes | 450/3 | €37,840 | €44,863 | +€7,023 | +18.6% |
| Remuneration and social security | 454/9 | €10,344 | €35,115 | +€24,771 | +239% |
| Other amounts payable | 47/48 | €107,855 | €127,778 | +€19,923 | +18.5% |
| Accrued charges and deferred income | 492/3 | €350 | €700 | +€350 | +100% |
| Remuneration, social security and pensions | 62 | €234,454 | €278,490 | +€44,036 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,760 | €119,467 | +€14,708 | +14.0% |
| Other operating charges | 640/8 | €20,700 | €17,128 | -€3,572 | -17.3% |
| Gross operating margin | 9900 | €390,217 | €490,319 | +€100,102 | +25.7% |
| Operating profit (loss) | 9901 | €30,303 | €75,233 | +€44,930 | +148% |
| Financial income | 75/76B | €36 | €118,035 | +€118,000 | +330,902% |
| Recurring financial income | 75 | €36 | €118,035 | +€118,000 | +330,902% |
| Financial charges | 65/66B | €20,608 | €18,551 | -€2,057 | -10.0% |
| Recurring financial charges | 65 | €20,608 | €18,551 | -€2,057 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €9,732 | €174,718 | +€164,986 | +1,695% |
| Income taxes | 67/77 | €3,115 | €12,454 | +€9,339 | +300% |
| Profit (loss) for the period | 9904 | €6,617 | €162,264 | +€155,647 | +2,352% |
| Transfer to tax-exempt reserves | 689 | - | €136,710 | +€136,710 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,617 | €25,554 | +€18,937 | +286% |
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 17 October 2026 via checked.be.