CELMAR: 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.
CELMAR
Largest movements
- Current investments -€176,819
down €176,819 (-20.7%), from €854,469 to €677,650
- Tangible fixed assets -€43,357
down €43,357 (-4.7%), from €919,108 to €875,751
of which Land and buildings: -€27,443
- Reserves -€830,000
down €830,000 (-46.4%), from €1.8m to €960,700
of which Distributable reserves: -€830,000
- Other debts +€615,299
up €615,299 (+324.1%), from €189,866 to €805,164
- Financial charges +€31,817
up €31,817 (+214.6%), from €14,824 to €46,641
- Financial income -€19,924
down €19,924 (-15.0%), from €132,572 to €112,647
- Gross operating margin -€7,447
down €7,447 (-112.6%), from -€6,613 to -€14,060
- Taxes -€5,598
down €5,598 (-97.2%), from €5,759 to €161
- Depreciation +€3,054
up €3,054 (+7.3%), from €41,772 to €44,826
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 | €2,643,911 | €2,426,947 | -€216,963 | -8.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,604,774 | €1,561,417 | -€43,357 | -2.7% |
| Tangible fixed assets | 22/27 | €919,108 | €875,751 | -€43,357 | -4.7% |
| Land and buildings | 22 | €852,003 | €824,560 | -€27,443 | -3.2% |
| Furniture and vehicles | 24 | €67,105 | €51,191 | -€15,914 | -23.7% |
| Financial fixed assets | 28 | €685,667 | €685,667 | = | 0.0% |
| Current assets | 29/58 | €1,039,136 | €865,530 | -€173,606 | -16.7% |
| Amounts receivable within one year | 40/41 | €10,821 | €8,773 | -€2,048 | -18.9% |
| Trade receivables | 40 | €2,712 | €2,330 | -€382 | -14.1% |
| Other amounts receivable | 41 | €8,109 | €6,443 | -€1,666 | -20.5% |
| Current investments | 50/53 | €854,469 | €677,650 | -€176,819 | -20.7% |
| Cash at bank and in hand | 54/58 | €172,148 | €177,929 | +€5,782 | +3.4% |
| Deferred charges and accrued income | 490/1 | €1,699 | €1,178 | -€521 | -30.7% |
| Total equity and liabilities | 10/49 | €2,643,911 | €2,426,947 | -€216,963 | -8.2% |
| Equity | 10/15 | €2,441,396 | €1,611,717 | -€829,679 | -34.0% |
| Contributions | 10/11 | €654,250 | €654,250 | = | 0.0% |
| Reserves | 13 | €1,790,700 | €960,700 | -€830,000 | -46.4% |
| Non-distributable reserves | 130/1 | €205,700 | €205,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €205,700 | €205,700 | = | 0.0% |
| Distributable reserves | 133 | €1,585,000 | €755,000 | -€830,000 | -52.4% |
| Profit (loss) carried forward | 14 | -€3,554 | -€3,233 | +€321 | +9.0% |
| Amounts payable | 17/49 | €202,515 | €815,230 | +€612,716 | +302.6% |
| Amounts payable within one year | 42/48 | €202,515 | €815,230 | +€612,716 | +302.6% |
| Trade debts | 44 | €4,915 | €7,710 | +€2,795 | +56.9% |
| Suppliers | 440/4 | €4,915 | €7,710 | +€2,795 | +56.9% |
| Advances received on contracts in progress | 46 | - | €80 | +€80 | |
| Taxes, remuneration and social security | 45 | €7,734 | €2,276 | -€5,458 | -70.6% |
| Taxes | 450/3 | €7,734 | €2,276 | -€5,458 | -70.6% |
| Other amounts payable | 47/48 | €189,866 | €805,164 | +€615,299 | +324.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,772 | €44,826 | +€3,054 | +7.3% |
| Other operating charges | 640/8 | €6,533 | €6,639 | +€106 | +1.6% |
| Gross operating margin | 9900 | -€6,613 | -€14,060 | -€7,447 | -112.6% |
| Operating profit (loss) | 9901 | -€54,917 | -€65,524 | -€10,607 | -19.3% |
| Financial income | 75/76B | €132,572 | €112,647 | -€19,924 | -15.0% |
| Recurring financial income | 75 | €132,572 | €112,647 | -€19,924 | -15.0% |
| Financial charges | 65/66B | €14,824 | €46,641 | +€31,817 | +214.6% |
| Recurring financial charges | 65 | €14,824 | €46,641 | +€31,817 | +214.6% |
| Profit (loss) for the period before taxes | 9903 | €62,831 | €482 | -€62,349 | -99.2% |
| Income taxes | 67/77 | €5,759 | €161 | -€5,598 | -97.2% |
| Profit (loss) for the period | 9904 | €57,072 | €321 | -€56,751 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,072 | €321 | -€56,751 | -99.4% |
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.