CELU-Invest: what changed
What changed
CELU-Invest
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€13,637
2024 · -€981+€14,618
Equity
€1.6m
2024 · €1.6m+€13,637
Cash
€34,024
2024 · €7,702+€26,322
Balance sheet total
€1.7m
2024 · €1.6m+€13,846
Largest movements
Assets
- Tangible fixed assets -€48,880
down €48,880 (-3.0%), from €1.6m to €1.6m
of which Land and buildings: -€54,744
- Current investments +€29,085
up €29,085 (+193%), from €15,082 to €44,167
- Cash +€26,322
up €26,322 (+342%), from €7,702 to €34,024
mainly Depreciation (+€66,845) and Net result for the year (+€13,637)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€15,753
up €15,753 (+23.0%), from €68,504 to €84,257
- Financial charges -€10,967
down €10,967, from €6,743 to -€4,224
- Depreciation +€7,260
up €7,260 (+12.2%), from €59,585 to €66,845
- Financial income -€6,476
down €6,476 (-99.4%), from €6,517 to €41
- Other operating charges -€1,634
down €1,634 (-16.5%), from €9,928 to €8,294
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€981
Gross operating margin
+€15,753
Depreciation
-€7,260
Other operating charges
+€1,634
Financial income
-€6,476
Financial charges
+€10,967
Result 2025
€13,637
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€73,372
Investment
-€47,050
Financing
€0
Cash 2024
€7,702
From operations (derived)
+€73,372
Net result for the year
+€13,637
Depreciation
+€66,845
Receivables within one year
-€8,802
Deferred charges and accrued income
+€1,483
Provisions
-€680
Trade debts
+€205
Tax, wage and social debts
-€140
Other debts
-€3,090
Accrued charges and deferred income
+€3,914
Investment (derived)
-€47,050
Investment in fixed assets (net)
-€17,965
Current investments
-€29,085
Cash 2025
€34,024
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,645,212 | €1,659,058 | +€13,846 | +0.8% |
| Fixed assets | 21/28 | €1,620,397 | €1,571,517 | -€48,880 | -3.0% |
| Tangible fixed assets | 22/27 | €1,620,147 | €1,571,267 | -€48,880 | -3.0% |
| Land and buildings | 22 | €1,582,367 | €1,527,623 | -€54,744 | -3.5% |
| Plant, machinery and equipment | 23 | €3,663 | €16,586 | +€12,923 | +353% |
| Furniture and vehicles | 24 | €34,117 | €27,058 | -€7,059 | -20.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €24,815 | €87,541 | +€62,726 | +253% |
| Amounts receivable within one year | 40/41 | - | €8,802 | +€8,802 | |
| Other amounts receivable | 41 | - | €8,802 | +€8,802 | |
| Current investments | 50/53 | €15,082 | €44,167 | +€29,085 | +193% |
| Cash at bank and in hand | 54/58 | €7,702 | €34,024 | +€26,322 | +342% |
| Deferred charges and accrued income | 490/1 | €2,031 | €548 | -€1,483 | -73.0% |
| Total equity and liabilities | 10/49 | €1,645,212 | €1,659,058 | +€13,846 | +0.8% |
| Equity | 10/15 | €1,612,321 | €1,625,958 | +€13,637 | +0.8% |
| Contributions | 10/11 | €347,000 | €347,000 | = | 0.0% |
| Capital | 10 | €347,000 | €347,000 | = | 0.0% |
| Issued capital | 100 | €347,000 | €347,000 | = | 0.0% |
| Reserves | 13 | €1,265,321 | €1,278,958 | +€13,637 | +1.1% |
| Non-distributable reserves | 130/1 | €34,700 | €34,700 | = | 0.0% |
| Legal reserve | 130 | €34,700 | €34,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €59,132 | €57,093 | -€2,039 | -3.4% |
| Distributable reserves | 133 | €1,171,489 | €1,187,165 | +€15,676 | +1.3% |
| Provisions and deferred taxes | 16 | €19,710 | €19,030 | -€680 | -3.5% |
| Deferred taxes | 168 | €19,710 | €19,030 | -€680 | -3.5% |
| Amounts payable | 17/49 | €13,181 | €14,070 | +€889 | +6.7% |
| Amounts payable within one year | 42/48 | €6,810 | €3,785 | -€3,025 | -44.4% |
| Trade debts | 44 | €3,154 | €3,359 | +€205 | +6.5% |
| Suppliers | 440/4 | €3,154 | €3,359 | +€205 | +6.5% |
| Taxes, remuneration and social security | 45 | €566 | €426 | -€140 | -24.7% |
| Taxes | 450/3 | €566 | €426 | -€140 | -24.7% |
| Other amounts payable | 47/48 | €3,090 | - | -€3,090 | |
| Accrued charges and deferred income | 492/3 | €6,371 | €10,285 | +€3,914 | +61.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,585 | €66,845 | +€7,260 | +12.2% |
| Other operating charges | 640/8 | €9,928 | €8,294 | -€1,634 | -16.5% |
| Gross operating margin | 9900 | €68,504 | €84,257 | +€15,753 | +23.0% |
| Operating profit (loss) | 9901 | -€1,009 | €9,118 | +€10,127 | |
| Financial income | 75/76B | €6,517 | €41 | -€6,476 | -99.4% |
| Recurring financial income | 75 | €6,517 | €41 | -€6,476 | -99.4% |
| Financial charges | 65/66B | €6,743 | -€4,224 | -€10,967 | |
| Recurring financial charges | 65 | €6,743 | -€4,224 | -€10,967 | |
| Profit (loss) for the period before taxes | 9903 | -€1,235 | €13,383 | +€14,618 | |
| Transfer from deferred taxes | 780 | €680 | €680 | = | 0.0% |
| Income taxes | 67/77 | €426 | €426 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€981 | €13,637 | +€14,618 | |
| Transfer from tax-exempt reserves | 789 | €2,039 | €2,039 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,058 | €15,676 | +€14,618 | +1,382% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.