CELINE NOWAK: 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.
CELINE NOWAK
Largest movements
- Cash +€19,103
up €19,103 (+4,322%), from €442 to €19,545
mainly Net result for the year (+€87,437) and Other debts (+€17,300)
- Tangible fixed assets -€8,195
down €8,195 (-20.8%), from €39,382 to €31,187
of which Furniture and vehicles: -€4,127
- Receivables after one year -€5,400
down €5,400 (-22.0%), from €24,600 to €19,200
- Receivables within one year -€5,194
down €5,194 (-6.9%), from €74,997 to €69,803
of which Other amounts receivable: -€5,289
- Other debts +€17,300
up €17,300 (+34.8%), from €49,700 to €67,000
- Tax, wage and social debts -€10,355
down €10,355 (-20.4%), from €50,792 to €40,437
of which Taxes: -€7,805
- Debts after one year -€4,586
down €4,586 (-59.2%), from €7,751 to €3,165
- Trade debts -€2,505
down €2,505 (-80.2%), from €3,122 to €617
- Gross operating margin +€7,285
up €7,285 (+6.3%), from €115,676 to €122,961
- Depreciation -€5,536
down €5,536 (-40.3%), from €13,731 to €8,195
- Taxes -€1,563
down €1,563 (-4.9%), from €31,750 to €30,187
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 | €146,907 | €146,928 | +€21 | 0.0% |
| Fixed assets | 21/28 | €39,407 | €31,212 | -€8,195 | -20.8% |
| Tangible fixed assets | 22/27 | €39,382 | €31,187 | -€8,195 | -20.8% |
| Plant, machinery and equipment | 23 | €33,988 | €29,920 | -€4,068 | -12.0% |
| Furniture and vehicles | 24 | €5,394 | €1,267 | -€4,127 | -76.5% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €107,500 | €115,716 | +€8,216 | +7.6% |
| Amounts receivable after more than one year | 29 | €24,600 | €19,200 | -€5,400 | -22.0% |
| Other amounts receivable | 291 | €24,600 | €19,200 | -€5,400 | -22.0% |
| Stocks and contracts in progress | 3 | €4,287 | €3,946 | -€341 | -8.0% |
| Stocks | 30/36 | €4,287 | €3,946 | -€341 | -8.0% |
| Amounts receivable within one year | 40/41 | €74,997 | €69,803 | -€5,194 | -6.9% |
| Trade receivables | 40 | - | €95 | +€95 | |
| Other amounts receivable | 41 | €74,997 | €69,708 | -€5,289 | -7.1% |
| Cash at bank and in hand | 54/58 | €442 | €19,545 | +€19,103 | +4,322% |
| Deferred charges and accrued income | 490/1 | €3,174 | €3,222 | +€48 | +1.5% |
| Total equity and liabilities | 10/49 | €146,907 | €146,928 | +€21 | 0.0% |
| Equity | 10/15 | €30,787 | €31,124 | +€337 | +1.1% |
| 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 | €10,327 | €10,664 | +€337 | +3.3% |
| Amounts payable | 17/49 | €116,120 | €115,804 | -€316 | -0.3% |
| Amounts payable after more than one year | 17 | €7,751 | €3,165 | -€4,586 | -59.2% |
| Financial debts | 170/4 | €7,751 | €3,165 | -€4,586 | -59.2% |
| Amounts payable within one year | 42/48 | €108,369 | €112,639 | +€4,270 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €4,755 | €4,585 | -€170 | -3.6% |
| Trade debts | 44 | €3,122 | €617 | -€2,505 | -80.2% |
| Suppliers | 440/4 | €3,122 | €617 | -€2,505 | -80.2% |
| Taxes, remuneration and social security | 45 | €50,792 | €40,437 | -€10,355 | -20.4% |
| Taxes | 450/3 | €48,242 | €40,437 | -€7,805 | -16.2% |
| Remuneration and social security | 454/9 | €2,550 | - | -€2,550 | |
| Other amounts payable | 47/48 | €49,700 | €67,000 | +€17,300 | +34.8% |
| Remuneration, social security and pensions | 62 | -€109 | - | +€109 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,731 | €8,195 | -€5,536 | -40.3% |
| Other operating charges | 640/8 | €31 | €304 | +€273 | +881% |
| Non-recurring operating charges | 66A | €1,297 | - | -€1,297 | |
| Gross operating margin | 9900 | €115,676 | €122,961 | +€7,285 | +6.3% |
| Operating profit (loss) | 9901 | €100,726 | €114,462 | +€13,736 | +13.6% |
| Financial income | 75/76B | €3,538 | €3,782 | +€244 | +6.9% |
| Recurring financial income | 75 | €3,538 | €3,782 | +€244 | +6.9% |
| Financial charges | 65/66B | €822 | €620 | -€202 | -24.6% |
| Recurring financial charges | 65 | €822 | €620 | -€202 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €103,442 | €117,624 | +€14,182 | +13.7% |
| Income taxes | 67/77 | €31,750 | €30,187 | -€1,563 | -4.9% |
| Profit (loss) for the period | 9904 | €71,692 | €87,437 | +€15,745 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,692 | €87,437 | +€15,745 | +22.0% |
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 14 October 2026 via checked.be.