Cellows: 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.
Cellows
Largest movements
- Intangible fixed assets -€105,731
down €105,731 (-25.7%), from €412,160 to €306,429
- Cash +€64,721
up €64,721 (+914.8%), from €7,075 to €71,797
mainly Debts after one year (+€130,114) and Depreciation (+€119,284)
- Receivables within one year -€18,777
no longer reported in 2025 (was €18,777)
of which Other amounts receivable: -€13,332
- Trade debts -€310,028
down €310,028 (-99.0%), from €313,296 to €3,269
- Debts after one year +€130,114
new in 2025: €130,114
- Other debts +€77,515
up €77,515 (+118.7%), from €65,287 to €142,802
- Current portion of long-term debt +€64,601
new in 2025: €64,601
- Profit (loss) carried forward -€25,173
down €25,173 (-43.8%), from €57,430 to €32,257
- Depreciation +€53,206
up €53,206 (+80.5%), from €66,078 to €119,284
- Gross operating margin +€18,820
up €18,820 (+23.0%), from €81,792 to €100,612
- Financial charges +€1,805
up €1,805 (+1503.8%), from €120 to €1,925
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 | €438,013 | €384,454 | -€53,559 | -12.2% |
| Fixed assets | 21/28 | €412,160 | €312,657 | -€99,503 | -24.1% |
| Intangible fixed assets | 21 | €412,160 | €306,429 | -€105,731 | -25.7% |
| Tangible fixed assets | 22/27 | - | €3,978 | +€3,978 | |
| Furniture and vehicles | 24 | - | €3,978 | +€3,978 | |
| Financial fixed assets | 28 | - | €2,250 | +€2,250 | |
| Current assets | 29/58 | €25,853 | €71,797 | +€45,944 | +177.7% |
| Amounts receivable within one year | 40/41 | €18,777 | - | -€18,777 | |
| Trade receivables | 40 | €5,445 | - | -€5,445 | |
| Other amounts receivable | 41 | €13,332 | - | -€13,332 | |
| Cash at bank and in hand | 54/58 | €7,075 | €71,797 | +€64,721 | +914.8% |
| Total equity and liabilities | 10/49 | €438,013 | €384,454 | -€53,559 | -12.2% |
| Equity | 10/15 | €59,430 | €34,257 | -€25,173 | -42.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,430 | €32,257 | -€25,173 | -43.8% |
| Amounts payable | 17/49 | €378,583 | €350,197 | -€28,386 | -7.5% |
| Amounts payable after more than one year | 17 | - | €130,114 | +€130,114 | |
| Financial debts | 170/4 | - | €130,114 | +€130,114 | |
| Amounts payable within one year | 42/48 | €378,583 | €220,083 | -€158,500 | -41.9% |
| Current portion of amounts payable after more than one year | 42 | - | €64,601 | +€64,601 | |
| Trade debts | 44 | €313,296 | €3,269 | -€310,028 | -99.0% |
| Suppliers | 440/4 | €313,296 | €3,269 | -€310,028 | -99.0% |
| Taxes, remuneration and social security | 45 | - | €9,411 | +€9,411 | |
| Taxes | 450/3 | - | €9,411 | +€9,411 | |
| Other amounts payable | 47/48 | €65,287 | €142,802 | +€77,515 | +118.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,078 | €119,284 | +€53,206 | +80.5% |
| Other operating charges | 640/8 | - | €786 | +€786 | |
| Gross operating margin | 9900 | €81,792 | €100,612 | +€18,820 | +23.0% |
| Operating profit (loss) | 9901 | €15,714 | -€19,459 | -€35,173 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €120 | €1,925 | +€1,805 | +1503.8% |
| Recurring financial charges | 65 | €120 | €1,925 | +€1,805 | +1503.8% |
| Profit (loss) for the period before taxes | 9903 | €15,594 | -€21,383 | -€36,977 | |
| Profit (loss) for the period | 9904 | €15,594 | -€21,383 | -€36,977 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,594 | -€21,383 | -€36,977 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.