CELSIUS WAASLAND: 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.
What changed
CELSIUS WAASLAND
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€7.6m
2024 · €9.6m-€2.1m
Equity
€25.1m
2024 · €17.5m+€7.6m
Cash
€6.7m
2024 · €14.0m-€7.4m
Balance sheet total
€217.0m
2024 · €209.8m+€7.2m
Largest movements
Assets
- Receivables after one year +€14.9m
up €14.9m (+42.9%), from €34.8m to €49.7m
- Cash -€7.4m
down €7.4m (-52.5%), from €14.0m to €6.7m
mainly Current portion of long-term debt (-€178.4m) and Receivables after one year (-€14.9m)
Equity and liabilities
- Current portion of long-term debt -€178.4m
no longer reported in 2025 (was €178.4m)
- Debts after one year +€177.8m
up €177.8m (+36,309%), from €489,726 to €178.3m
of which Financial debts: +€177.8m
- Profit (loss) carried forward +€7.6m
up €7.6m (+46.2%), from €16.3m to €23.9m
Income statement
- Financial income -€1.9m
down €1.9m (-31.7%), from €6.0m to €4.1m
- Write-downs -€1.0m
down €1.0m, from €881,126 to -€136,774
- Services and other goods +€776,969
up €776,969 (+43.7%), from €1.8m to €2.6m
- Financial charges -€654,893
down €654,893 (-7.5%), from €8.7m to €8.0m
- Provisions +€615,349
up €615,349 (+97.8%), from -€629,467 to -€14,118
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.
Result 2024
€9.6m
Turnover
+€101,532
Other operating income
+€19,507
Services and other goods
-€776,969
Depreciation
-€452,309
Write-downs
+€1.0m
Provisions
-€615,349
Other operating charges
-€503,032
Other operating items
-€158,570
Financial income
-€1.9m
Financial charges
+€654,893
Taxes
+€531,468
Result 2025
€7.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€4.5m
Investment
-€2.2m
Financing
-€630,047
Cash 2024
€14.0m
From operations (derived)
-€4.5m
Net result for the year
+€7.6m
Depreciation
+€2.9m
Receivables after one year
-€14.9m
Receivables within one year
+€918,483
Deferred charges and accrued income
-€1.2m
Smaller working-capital items
+€269,122
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Financing
-€630,047
Debts after one year
+€177.8m
Current portion of long-term debt
-€178.4m
Cash 2025
€6.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,849,838 | €217,041,546 | +€7.2m | +3.4% |
| Formation expenses | 20 | - | €968,440 | +€968,440 | |
| Fixed assets | 21/28 | €155,552,555 | €153,954,705 | -€1.6m | -1.0% |
| Tangible fixed assets | 22/27 | €48,426,482 | €46,828,632 | -€1.6m | -3.3% |
| Land and buildings | 22 | €45,297,191 | €43,343,697 | -€2.0m | -4.3% |
| Plant, machinery and equipment | 23 | €504 | €70 | -€434 | -86.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €3,128,787 | €3,484,865 | +€356,078 | +11.4% |
| Financial fixed assets | 28 | €107,126,073 | €107,126,073 | = | 0.0% |
| Affiliated companies | 280/1 | €107,126,073 | €107,126,073 | = | 0.0% |
| Participating interests | 280 | €107,126,073 | €107,126,073 | = | 0.0% |
| Current assets | 29/58 | €54,297,283 | €62,118,401 | +€7.8m | +14.4% |
| Amounts receivable after more than one year | 29 | €34,814,586 | €49,732,674 | +€14.9m | +42.9% |
| Other amounts receivable | 291 | €34,814,586 | €49,732,674 | +€14.9m | +42.9% |
| Amounts receivable within one year | 40/41 | €4,247,619 | €3,329,136 | -€918,483 | -21.6% |
| Trade receivables | 40 | €4,247,619 | €3,309,357 | -€938,262 | -22.1% |
| Other amounts receivable | 41 | - | €19,780 | +€19,780 | |
| Cash at bank and in hand | 54/58 | €14,020,274 | €6,664,059 | -€7.4m | -52.5% |
| Deferred charges and accrued income | 490/1 | €1,214,804 | €2,392,532 | +€1.2m | +96.9% |
| Total equity and liabilities | 10/49 | €209,849,838 | €217,041,546 | +€7.2m | +3.4% |
| Equity | 10/15 | €17,504,144 | €25,056,777 | +€7.6m | +43.1% |
| Contributions | 10/11 | €1,061,500 | €1,061,500 | = | 0.0% |
| Capital | 10 | €1,061,500 | €1,061,500 | = | 0.0% |
| Issued capital | 100 | €1,061,500 | €1,061,500 | = | 0.0% |
| Reserves | 13 | €106,150 | €106,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €106,150 | €106,150 | = | 0.0% |
| Legal reserve | 130 | €106,150 | €106,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,336,494 | €23,889,127 | +€7.6m | +46.2% |
| Provisions and deferred taxes | 16 | €120,498 | €106,380 | -€14,118 | -11.7% |
| Provisions for liabilities and charges | 160/5 | €120,498 | €106,380 | -€14,118 | -11.7% |
| Major repairs and maintenance | 162 | €120,498 | €106,380 | -€14,118 | -11.7% |
| Amounts payable | 17/49 | €192,225,195 | €191,878,389 | -€346,807 | -0.2% |
| Amounts payable after more than one year | 17 | €489,726 | €178,302,620 | +€177.8m | +36,309% |
| Financial debts | 170/4 | - | €177,773,780 | +€177.8m | |
| Credit institutions | 173 | - | €177,773,780 | +€177.8m | |
| Other amounts payable | 178/9 | €489,726 | €528,840 | +€39,114 | +8.0% |
| Amounts payable within one year | 42/48 | €185,452,939 | €7,205,038 | -€178.2m | -96.1% |
| Current portion of amounts payable after more than one year | 42 | €178,442,941 | - | -€178.4m | |
| Trade debts | 44 | €121,772 | €444,050 | +€322,278 | +265% |
| Suppliers | 440/4 | €121,772 | €444,050 | +€322,278 | +265% |
| Taxes, remuneration and social security | 45 | €6,888,226 | €6,760,988 | -€127,238 | -1.8% |
| Taxes | 450/3 | €6,888,226 | €6,760,988 | -€127,238 | -1.8% |
| Accrued charges and deferred income | 492/3 | €6,282,530 | €6,370,730 | +€88,201 | +1.4% |
| Operating income | 70/76A | €21,539,595 | €21,502,064 | -€37,531 | -0.2% |
| Turnover | 70 | €19,633,962 | €19,735,493 | +€101,532 | +0.5% |
| Other operating income | 74 | €1,541,611 | €1,561,117 | +€19,507 | +1.3% |
| Non-recurring operating income | 76A | €364,023 | €205,453 | -€158,570 | -43.6% |
| Operating charges | 60/66A | €5,923,265 | €7,253,026 | +€1.3m | +22.4% |
| Services and other goods | 61 | €1,778,269 | €2,555,238 | +€776,969 | +43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,423,285 | €2,875,594 | +€452,309 | +18.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €881,126 | -€136,774 | -€1.0m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€629,467 | -€14,118 | +€615,349 | +97.8% |
| Other operating charges | 640/8 | €1,470,052 | €1,973,085 | +€503,032 | +34.2% |
| Operating profit (loss) | 9901 | €15,616,330 | €14,249,038 | -€1.4m | -8.8% |
| Financial income | 75/76B | €5,976,374 | €4,081,974 | -€1.9m | -31.7% |
| Recurring financial income | 75 | €5,976,374 | €4,081,974 | -€1.9m | -31.7% |
| Income from current assets | 751 | €1,855,647 | €2,194,019 | +€338,372 | +18.2% |
| Other financial income | 752/9 | €4,120,727 | €1,887,954 | -€2.2m | -54.2% |
| Financial charges | 65/66B | €8,689,073 | €8,034,180 | -€654,893 | -7.5% |
| Recurring financial charges | 65 | €8,689,073 | €8,034,180 | -€654,893 | -7.5% |
| Debt charges | 650 | €8,686,601 | €8,031,430 | -€655,170 | -7.5% |
| Other financial charges | 652/9 | €2,472 | €2,749 | +€277 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €12,903,631 | €10,296,832 | -€2.6m | -20.2% |
| Income taxes | 67/77 | €3,275,668 | €2,744,199 | -€531,468 | -16.2% |
| Taxes | 670/3 | €3,275,668 | €2,744,199 | -€531,468 | -16.2% |
| Profit (loss) for the period | 9904 | €9,627,964 | €7,552,633 | -€2.1m | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,627,964 | €7,552,633 | -€2.1m | -21.6% |
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 29 October 2026 via checked.be.