CELEF: 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.
CELEF
Largest movements
- Tangible fixed assets -€16,504
down €16,504 (-29.4%), from €56,204 to €39,700
- Receivables within one year +€8,332
up €8,332 (+88.6%), from €9,399 to €17,731
of which Other amounts receivable: +€8,332
- Cash -€4,450
down €4,450 (-4.1%), from €108,195 to €103,744
mainly Debts after one year (-€12,511) and Other debts (-€12,000)
- Debts after one year -€12,511
down €12,511 (-47.7%), from €26,205 to €13,693
- Other debts -€12,000
down €12,000 (-50.0%), from €24,000 to €12,000
- Profit (loss) carried forward +€7,731
up €7,731 (+7.3%), from €106,172 to €113,903
- Gross operating margin -€22,762
down €22,762 (-40.0%), from €56,906 to €34,144
- Taxes -€4,535
down €4,535 (-51.2%), from €8,850 to €4,315
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 | €197,453 | €183,187 | -€14,266 | -7.2% |
| Fixed assets | 21/28 | €56,204 | €39,700 | -€16,504 | -29.4% |
| Tangible fixed assets | 22/27 | €56,204 | €39,700 | -€16,504 | -29.4% |
| Furniture and vehicles | 24 | €56,204 | €39,700 | -€16,504 | -29.4% |
| Current assets | 29/58 | €141,249 | €143,487 | +€2,238 | +1.6% |
| Amounts receivable after more than one year | 29 | €21,412 | €21,412 | = | 0.0% |
| Other amounts receivable | 291 | €21,412 | €21,412 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,399 | €17,731 | +€8,332 | +88.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €9,399 | €17,731 | +€8,332 | +88.6% |
| Cash at bank and in hand | 54/58 | €108,195 | €103,744 | -€4,450 | -4.1% |
| Deferred charges and accrued income | 490/1 | €2,244 | €600 | -€1,644 | -73.3% |
| Total equity and liabilities | 10/49 | €197,453 | €183,187 | -€14,266 | -7.2% |
| Equity | 10/15 | €126,632 | €134,363 | +€7,731 | +6.1% |
| 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 | €106,172 | €113,903 | +€7,731 | +7.3% |
| Amounts payable | 17/49 | €70,822 | €48,825 | -€21,997 | -31.1% |
| Amounts payable after more than one year | 17 | €26,205 | €13,693 | -€12,511 | -47.7% |
| Financial debts | 170/4 | €26,205 | €13,693 | -€12,511 | -47.7% |
| Amounts payable within one year | 42/48 | €44,617 | €35,131 | -€9,486 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €12,389 | €12,511 | +€123 | +1.0% |
| Trade debts | 44 | €960 | €1,517 | +€557 | +58.1% |
| Suppliers | 440/4 | €960 | €1,517 | +€557 | +58.1% |
| Taxes, remuneration and social security | 45 | €7,268 | €9,103 | +€1,834 | +25.2% |
| Taxes | 450/3 | €7,268 | €9,103 | +€1,834 | +25.2% |
| Other amounts payable | 47/48 | €24,000 | €12,000 | -€12,000 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,723 | €19,840 | +€117 | +0.6% |
| Other operating charges | 640/8 | €1,319 | €1,738 | +€419 | +31.8% |
| Gross operating margin | 9900 | €56,906 | €34,144 | -€22,762 | -40.0% |
| Operating profit (loss) | 9901 | €35,864 | €12,566 | -€23,298 | -65.0% |
| Financial income | 75/76B | €535 | - | -€535 | |
| Recurring financial income | 75 | €535 | - | -€535 | |
| Financial charges | 65/66B | €608 | €521 | -€87 | -14.4% |
| Recurring financial charges | 65 | €608 | €521 | -€87 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €35,791 | €12,046 | -€23,746 | -66.3% |
| Income taxes | 67/77 | €8,850 | €4,315 | -€4,535 | -51.2% |
| Profit (loss) for the period | 9904 | €26,941 | €7,731 | -€19,210 | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,941 | €7,731 | -€19,210 | -71.3% |
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 9 October 2026 via checked.be.