CELTIAN: 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.
CELTIAN
Largest movements
- Receivables after one year +€317,475
new in 2026: €317,475
- Current investments -€52,104
down €52,104 (-100%), from €52,104 to €0
- Tangible fixed assets -€16,354
down €16,354 (-19.6%), from €83,358 to €67,004
- Receivables within one year +€15,941
up €15,941 (+46.9%), from €34,025 to €49,966
of which Other amounts receivable: +€20,751
- Cash -€11,040
down €11,040 (-9.6%), from €114,871 to €103,831
mainly Receivables after one year (-€317,475) and Contributions, distributions and other (-€244,000)
- Reserves +€210,500
up €210,500 (+185%), from €113,670 to €324,170
of which Tax-exempt reserves: +€210,500
- Accrued charges and deferred income +€50,000
up €50,000, from €0 to €50,000
- Other debts -€31,543
down €31,543 (-22.1%), from €142,461 to €110,918
- Profit (loss) carried forward +€27,122
up €27,122, from €0 to €27,122
- Gross operating margin +€468,121
up €468,121 (+307%), from €152,672 to €620,794
- Taxes +€118,340
up €118,340 (+355%), from €33,379 to €151,719
- Financial income +€26,892
up €26,892 (+722%), from €3,725 to €30,618
- Depreciation +€14,219
up €14,219 (+440%), from €3,234 to €17,453
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €284,358 | €541,407 | +€257,049 | +90.4% |
| Fixed assets | 21/28 | €83,358 | €67,004 | -€16,354 | -19.6% |
| Tangible fixed assets | 22/27 | €83,358 | €67,004 | -€16,354 | -19.6% |
| Furniture and vehicles | 24 | €83,358 | €67,004 | -€16,354 | -19.6% |
| Current assets | 29/58 | €201,000 | €474,403 | +€273,403 | +136% |
| Amounts receivable after more than one year | 29 | - | €317,475 | +€317,475 | |
| Other amounts receivable | 291 | - | €317,475 | +€317,475 | |
| Amounts receivable within one year | 40/41 | €34,025 | €49,966 | +€15,941 | +46.9% |
| Trade receivables | 40 | €32,776 | €27,966 | -€4,809 | -14.7% |
| Other amounts receivable | 41 | €1,249 | €22,000 | +€20,751 | +1,661% |
| Current investments | 50/53 | €52,104 | €0 | -€52,104 | -100% |
| Cash at bank and in hand | 54/58 | €114,871 | €103,831 | -€11,040 | -9.6% |
| Deferred charges and accrued income | 490/1 | - | €3,131 | +€3,131 | |
| Total equity and liabilities | 10/49 | €284,358 | €541,407 | +€257,049 | +90.4% |
| Equity | 10/15 | €115,670 | €353,292 | +€237,622 | +205% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €113,670 | €324,170 | +€210,500 | +185% |
| Tax-exempt reserves | 132 | €113,670 | €324,170 | +€210,500 | +185% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €27,122 | +€27,122 | |
| Amounts payable | 17/49 | €168,688 | €188,115 | +€19,427 | +11.5% |
| Amounts payable within one year | 42/48 | €168,688 | €138,115 | -€30,573 | -18.1% |
| Trade debts | 44 | €0 | €1,851 | +€1,851 | |
| Suppliers | 440/4 | €0 | €1,851 | +€1,851 | |
| Taxes, remuneration and social security | 45 | €26,227 | €25,346 | -€881 | -3.4% |
| Taxes | 450/3 | €26,227 | €25,346 | -€881 | -3.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €142,461 | €110,918 | -€31,543 | -22.1% |
| Accrued charges and deferred income | 492/3 | €0 | €50,000 | +€50,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,234 | €17,453 | +€14,219 | +440% |
| Other operating charges | 640/8 | €940 | €520 | -€420 | -44.7% |
| Gross operating margin | 9900 | €152,672 | €620,794 | +€468,121 | +307% |
| Operating profit (loss) | 9901 | €148,499 | €602,821 | +€454,322 | +306% |
| Financial income | 75/76B | €3,725 | €30,618 | +€26,892 | +722% |
| Recurring financial income | 75 | €3,725 | €30,618 | +€26,892 | +722% |
| Financial charges | 65/66B | €43 | €98 | +€55 | +130% |
| Recurring financial charges | 65 | €43 | €98 | +€55 | +130% |
| Profit (loss) for the period before taxes | 9903 | €152,182 | €633,341 | +€481,159 | +316% |
| Income taxes | 67/77 | €33,379 | €151,719 | +€118,340 | +355% |
| Profit (loss) for the period | 9904 | €118,803 | €481,622 | +€362,819 | +305% |
| Transfer from tax-exempt reserves | 789 | €48,415 | €0 | -€48,415 | -100% |
| Transfer to tax-exempt reserves | 689 | €0 | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €167,218 | €271,122 | +€103,904 | +62.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.