CELEM: what changed
Two fiscal 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.
CELEM
Largest movements
- Receivables within one year +€323,821
up €323,821 (+15.4%), from €2.1m to €2.4m
of which Trade receivables: +€366,633
- Cash +€141,540
up €141,540 (+28.1%), from €504,337 to €645,877
mainly Net result for the year (+€865,452) and Other debts (+€342,474)
- Tangible fixed assets -€61,334
down €61,334 (-5.5%), from €1.1m to €1.0m
of which Plant, machinery and equipment: -€35,204
- Deferred charges and accrued income -€58,787
down €58,787 (-83.8%), from €70,123 to €11,336
- Other debts +€342,474
up €342,474 (+137.8%), from €248,526 to €591,000
- Debts after one year -€317,430
down €317,430 (-37.0%), from €858,734 to €541,304
- Profit (loss) carried forward +€274,452
up €274,452 (+43.9%), from €625,709 to €900,161
- Short-term financial debts -€157,385
down €157,385 (-38.6%), from €407,385 to €250,000
- Trade debts +€133,009
up €133,009 (+31.7%), from €419,498 to €552,507
- Gross operating margin +€601,494
up €601,494 (+25.2%), from €2.4m to €3.0m
- Staff costs +€211,233
up €211,233 (+16.0%), from €1.3m to €1.5m
- Taxes +€140,668
up €140,668 (+65.1%), from €215,956 to €356,623
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 | €4,707,835 | €5,077,000 | +€369,165 | +7.8% |
| Fixed assets | 21/28 | €1,113,097 | €1,046,568 | -€66,529 | -6.0% |
| Intangible fixed assets | 21 | €6,851 | €2,546 | -€4,305 | -62.8% |
| Tangible fixed assets | 22/27 | €1,105,356 | €1,044,022 | -€61,334 | -5.5% |
| Land and buildings | 22 | €499,693 | €505,431 | +€5,738 | +1.1% |
| Plant, machinery and equipment | 23 | €238,837 | €203,633 | -€35,204 | -14.7% |
| Furniture and vehicles | 24 | €366,826 | €334,958 | -€31,868 | -8.7% |
| Financial fixed assets | 28 | €890 | - | -€890 | |
| Current assets | 29/58 | €3,594,738 | €4,030,432 | +€435,694 | +12.1% |
| Stocks and contracts in progress | 3 | €913,935 | €943,055 | +€29,121 | +3.2% |
| Stocks | 30/36 | €913,935 | €943,055 | +€29,121 | +3.2% |
| Amounts receivable within one year | 40/41 | €2,106,343 | €2,430,164 | +€323,821 | +15.4% |
| Trade receivables | 40 | €1,091,168 | €1,457,801 | +€366,633 | +33.6% |
| Other amounts receivable | 41 | €1,015,175 | €972,363 | -€42,812 | -4.2% |
| Cash at bank and in hand | 54/58 | €504,337 | €645,877 | +€141,540 | +28.1% |
| Deferred charges and accrued income | 490/1 | €70,123 | €11,336 | -€58,787 | -83.8% |
| Total equity and liabilities | 10/49 | €4,707,835 | €5,077,000 | +€369,165 | +7.8% |
| Equity | 10/15 | €1,952,259 | €2,226,711 | +€274,452 | +14.1% |
| Contributions | 10/11 | €462,000 | €462,000 | = | 0.0% |
| Capital | 10 | €462,000 | €462,000 | = | 0.0% |
| Issued capital | 100 | €462,000 | €462,000 | = | 0.0% |
| Reserves | 13 | €864,550 | €864,550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €296,200 | €296,200 | = | 0.0% |
| Legal reserve | 130 | €46,200 | €46,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €250,000 | +€250,000 | |
| Other | 1319 | €250,000 | - | -€250,000 | |
| Tax-exempt reserves | 132 | €568,350 | €421,000 | -€147,350 | -25.9% |
| Distributable reserves | 133 | - | €147,350 | +€147,350 | |
| Profit (loss) carried forward | 14 | €625,709 | €900,161 | +€274,452 | +43.9% |
| Amounts payable | 17/49 | €2,755,577 | €2,850,290 | +€94,713 | +3.4% |
| Amounts payable after more than one year | 17 | €858,734 | €541,304 | -€317,430 | -37.0% |
| Financial debts | 170/4 | €858,734 | €541,304 | -€317,430 | -37.0% |
| Amounts payable within one year | 42/48 | €1,695,054 | €2,005,217 | +€310,163 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €363,472 | €317,430 | -€46,042 | -12.7% |
| Financial debts | 43 | €407,385 | €250,000 | -€157,385 | -38.6% |
| Credit institutions | 430/8 | €407,385 | €250,000 | -€157,385 | -38.6% |
| Trade debts | 44 | €419,498 | €552,507 | +€133,009 | +31.7% |
| Suppliers | 440/4 | €419,498 | €552,507 | +€133,009 | +31.7% |
| Taxes, remuneration and social security | 45 | €256,173 | €294,280 | +€38,106 | +14.9% |
| Taxes | 450/3 | €52,966 | €112,320 | +€59,354 | +112.1% |
| Remuneration and social security | 454/9 | €203,207 | €181,959 | -€21,248 | -10.5% |
| Other amounts payable | 47/48 | €248,526 | €591,000 | +€342,474 | +137.8% |
| Accrued charges and deferred income | 492/3 | €201,788 | €303,768 | +€101,980 | +50.5% |
| Non-recurring operating income | 76A | €509 | €26,023 | +€25,514 | +5012.0% |
| Remuneration, social security and pensions | 62 | €1,320,490 | €1,531,723 | +€211,233 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,687 | €169,421 | +€6,734 | +4.1% |
| Other operating charges | 640/8 | €25,776 | €43,758 | +€17,981 | +69.8% |
| Gross operating margin | 9900 | €2,390,315 | €2,991,808 | +€601,494 | +25.2% |
| Operating profit (loss) | 9901 | €881,361 | €1,246,906 | +€365,545 | +41.5% |
| Financial income | 75/76B | €7,747 | €18,247 | +€10,500 | +135.5% |
| Recurring financial income | 75 | €7,747 | €18,247 | +€10,500 | +135.5% |
| Financial charges | 65/66B | €47,444 | €43,078 | -€4,366 | -9.2% |
| Recurring financial charges | 65 | €47,444 | €43,078 | -€4,366 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €841,664 | €1,222,076 | +€380,411 | +45.2% |
| Income taxes | 67/77 | €215,956 | €356,623 | +€140,668 | +65.1% |
| Profit (loss) for the period | 9904 | €625,709 | €865,452 | +€239,743 | +38.3% |
| Transfer from tax-exempt reserves | 789 | - | €147,350 | +€147,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €625,709 | €1,012,802 | +€387,093 | +61.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.