CELMAX: 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.
CELMAX
Largest movements
- Tangible fixed assets -€26,398
down €26,398 (-3.7%), from €707,164 to €680,766
- Debts after one year -€37,206
down €37,206 (-6.8%), from €544,943 to €507,736
- Other debts +€35,411
up €35,411 (+27.5%), from €128,726 to €164,137
- Profit (loss) carried forward -€27,788
down €27,788 (-31.4%), from -€88,467 to -€116,255
- Gross operating margin -€6,043
down €6,043 (-34.9%), from €17,306 to €11,263
- Financial charges -€626
down €626 (-6.0%), from €10,488 to €9,862
- Other operating charges -€399
down €399 (-12.5%), from €3,190 to €2,792
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 | €708,802 | €683,535 | -€25,267 | -3.6% |
| Fixed assets | 21/28 | €707,164 | €680,766 | -€26,398 | -3.7% |
| Tangible fixed assets | 22/27 | €707,164 | €680,766 | -€26,398 | -3.7% |
| Land and buildings | 22 | €707,164 | €680,766 | -€26,398 | -3.7% |
| Current assets | 29/58 | €1,638 | €2,769 | +€1,131 | +69.0% |
| Amounts receivable within one year | 40/41 | €240 | €0 | -€240 | -100.0% |
| Other amounts receivable | 41 | €240 | €0 | -€240 | -100.0% |
| Cash at bank and in hand | 54/58 | €104 | €882 | +€778 | +747.0% |
| Deferred charges and accrued income | 490/1 | €1,294 | €1,887 | +€593 | +45.8% |
| Total equity and liabilities | 10/49 | €708,802 | €683,535 | -€25,267 | -3.6% |
| Equity | 10/15 | -€66,053 | -€93,841 | -€27,788 | -42.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €12,414 | €12,414 | = | 0.0% |
| Distributable reserves | 133 | €12,414 | €12,414 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,467 | -€116,255 | -€27,788 | -31.4% |
| Amounts payable | 17/49 | €774,855 | €777,377 | +€2,522 | +0.3% |
| Amounts payable after more than one year | 17 | €544,943 | €507,736 | -€37,206 | -6.8% |
| Financial debts | 170/4 | €544,943 | €507,736 | -€37,206 | -6.8% |
| Amounts payable within one year | 42/48 | €226,029 | €265,780 | +€39,751 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €36,864 | €37,206 | +€342 | +0.9% |
| Trade debts | 44 | €60,439 | €64,437 | +€3,998 | +6.6% |
| Suppliers | 440/4 | €60,439 | €64,437 | +€3,998 | +6.6% |
| Other amounts payable | 47/48 | €128,726 | €164,137 | +€35,411 | +27.5% |
| Accrued charges and deferred income | 492/3 | €3,883 | €3,860 | -€23 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,331 | €26,398 | +€67 | +0.3% |
| Other operating charges | 640/8 | €3,190 | €2,792 | -€399 | -12.5% |
| Gross operating margin | 9900 | €17,306 | €11,263 | -€6,043 | -34.9% |
| Operating profit (loss) | 9901 | -€12,215 | -€17,926 | -€5,711 | -46.8% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €10,488 | €9,862 | -€626 | -6.0% |
| Recurring financial charges | 65 | €10,488 | €9,862 | -€626 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€22,702 | -€27,788 | -€5,086 | -22.4% |
| Profit (loss) for the period | 9904 | -€22,702 | -€27,788 | -€5,086 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,702 | -€27,788 | -€5,086 | -22.4% |
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 8 October 2026 via checked.be.