CELECO: 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.
CELECO
Largest movements
- Receivables after one year -€100,000
down €100,000 (-33.5%), from €298,600 to €198,600
- Cash -€76,045
down €76,045 (-45.2%), from €168,418 to €92,373
mainly Debts after one year (-€100,000) and Contributions, distributions and other (-€90,603)
- Debts after one year -€100,000
down €100,000 (-33.3%), from €300,000 to €200,000
- Tax, wage and social debts -€50,524
down €50,524 (-72.0%), from €70,208 to €19,684
of which Taxes: -€49,344
- Other debts -€30,381
down €30,381 (-27.7%), from €109,822 to €79,441
- Gross operating margin -€54,668
down €54,668 (-32.5%), from €168,358 to €113,690
- Taxes -€16,318
down €16,318 (-40.0%), from €40,788 to €24,470
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 | €489,846 | €309,723 | -€180,123 | -36.8% |
| Fixed assets | 21/28 | €65 | - | -€65 | |
| Tangible fixed assets | 22/27 | €65 | - | -€65 | |
| Furniture and vehicles | 24 | €65 | - | -€65 | |
| Current assets | 29/58 | €489,781 | €309,723 | -€180,059 | -36.8% |
| Amounts receivable after more than one year | 29 | €298,600 | €198,600 | -€100,000 | -33.5% |
| Other amounts receivable | 291 | €298,600 | €198,600 | -€100,000 | -33.5% |
| Amounts receivable within one year | 40/41 | €22,642 | €18,680 | -€3,962 | -17.5% |
| Trade receivables | 40 | €18,150 | €18,150 | = | 0.0% |
| Other amounts receivable | 41 | €4,492 | €530 | -€3,962 | -88.2% |
| Cash at bank and in hand | 54/58 | €168,418 | €92,373 | -€76,045 | -45.2% |
| Deferred charges and accrued income | 490/1 | €121 | €70 | -€51 | -42.4% |
| Total equity and liabilities | 10/49 | €489,846 | €309,723 | -€180,123 | -36.8% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €484,846 | €304,723 | -€180,123 | -37.2% |
| Amounts payable after more than one year | 17 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Financial debts | 170/4 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Amounts payable within one year | 42/48 | €180,245 | €99,125 | -€81,121 | -45.0% |
| Trade debts | 44 | €216 | - | -€216 | |
| Suppliers | 440/4 | €216 | - | -€216 | |
| Taxes, remuneration and social security | 45 | €70,208 | €19,684 | -€50,524 | -72.0% |
| Taxes | 450/3 | €69,028 | €19,684 | -€49,344 | -71.5% |
| Remuneration and social security | 454/9 | €1,180 | - | -€1,180 | |
| Other amounts payable | 47/48 | €109,822 | €79,441 | -€30,381 | -27.7% |
| Accrued charges and deferred income | 492/3 | €4,601 | €5,598 | +€997 | +21.7% |
| Remuneration, social security and pensions | 62 | €300 | - | -€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €468 | €65 | -€403 | -86.2% |
| Other operating charges | 640/8 | €139 | €130 | -€9 | -6.4% |
| Gross operating margin | 9900 | €168,358 | €113,690 | -€54,668 | -32.5% |
| Operating profit (loss) | 9901 | €167,451 | €113,495 | -€53,956 | -32.2% |
| Financial income | 75/76B | €4,094 | €2,955 | -€1,139 | -27.8% |
| Recurring financial income | 75 | €4,094 | €2,955 | -€1,139 | -27.8% |
| Financial charges | 65/66B | €1,555 | €1,378 | -€177 | -11.4% |
| Recurring financial charges | 65 | €1,555 | €1,378 | -€177 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €169,991 | €115,073 | -€54,917 | -32.3% |
| Income taxes | 67/77 | €40,788 | €24,470 | -€16,318 | -40.0% |
| Profit (loss) for the period | 9904 | €129,202 | €90,603 | -€38,599 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €129,202 | €90,603 | -€38,599 | -29.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.