Celvan: 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.
Celvan
Largest movements
- Cash +€99,304
up €99,304 (+122.9%), from €80,785 to €180,090
mainly Other debts (+€200,528) and Net result for the year (+€120,180)
- Receivables within one year +€23,664
up €23,664 (+92.7%), from €25,532 to €49,196
of which Trade receivables: +€13,016
- Current investments -€13,000
down €13,000 (-52.0%), from €25,000 to €12,000
- Tangible fixed assets -€5,178
down €5,178 (-16.8%), from €30,823 to €25,645
of which Furniture and vehicles: -€4,957
- Other debts +€200,528
up €200,528 (+819.4%), from €24,472 to €225,000
- Reserves -€104,820
down €104,820 (-99.7%), from €105,125 to €305
- Tax, wage and social debts +€10,655
up €10,655 (+41.1%), from €25,923 to €36,578
of which Taxes: +€8,644
- Gross operating margin +€32,185
up €32,185 (+24.5%), from €131,114 to €163,299
- Taxes +€8,437
up €8,437 (+32.3%), from €26,093 to €34,531
- Financial charges -€2,443
down €2,443 (-80.9%), from €3,021 to €578
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 | €163,180 | €267,610 | +€104,430 | +64.0% |
| Fixed assets | 21/28 | €30,848 | €25,670 | -€5,178 | -16.8% |
| Tangible fixed assets | 22/27 | €30,823 | €25,645 | -€5,178 | -16.8% |
| Plant, machinery and equipment | 23 | €2,924 | €2,704 | -€221 | -7.6% |
| Furniture and vehicles | 24 | €27,898 | €22,941 | -€4,957 | -17.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €132,332 | €241,940 | +€109,608 | +82.8% |
| Amounts receivable within one year | 40/41 | €25,532 | €49,196 | +€23,664 | +92.7% |
| Trade receivables | 40 | €0 | €13,016 | +€13,016 | |
| Other amounts receivable | 41 | €25,532 | €36,179 | +€10,647 | +41.7% |
| Current investments | 50/53 | €25,000 | €12,000 | -€13,000 | -52.0% |
| Cash at bank and in hand | 54/58 | €80,785 | €180,090 | +€99,304 | +122.9% |
| Deferred charges and accrued income | 490/1 | €1,015 | €655 | -€360 | -35.5% |
| Total equity and liabilities | 10/49 | €163,180 | €267,610 | +€104,430 | +64.0% |
| Equity | 10/15 | €110,525 | €5,705 | -€104,820 | -94.8% |
| Contributions | 10/11 | €5,400 | €5,400 | = | 0.0% |
| Reserves | 13 | €105,125 | €305 | -€104,820 | -99.7% |
| Distributable reserves | 133 | €105,125 | €305 | -€104,820 | -99.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,655 | €261,905 | +€209,250 | +397.4% |
| Amounts payable within one year | 42/48 | €51,688 | €261,730 | +€210,042 | +406.4% |
| Trade debts | 44 | €1,294 | €153 | -€1,141 | -88.2% |
| Suppliers | 440/4 | €1,294 | €153 | -€1,141 | -88.2% |
| Taxes, remuneration and social security | 45 | €25,923 | €36,578 | +€10,655 | +41.1% |
| Taxes | 450/3 | €25,923 | €34,567 | +€8,644 | +33.3% |
| Remuneration and social security | 454/9 | - | €2,011 | +€2,011 | |
| Other amounts payable | 47/48 | €24,472 | €225,000 | +€200,528 | +819.4% |
| Accrued charges and deferred income | 492/3 | €967 | €174 | -€792 | -82.0% |
| Non-recurring operating income | 76A | - | €8,756 | +€8,756 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,560 | €8,743 | +€1,184 | +15.7% |
| Other operating charges | 640/8 | €808 | €634 | -€175 | -21.6% |
| Gross operating margin | 9900 | €131,114 | €163,299 | +€32,185 | +24.5% |
| Operating profit (loss) | 9901 | €122,746 | €153,921 | +€31,176 | +25.4% |
| Financial income | 75/76B | €568 | €1,367 | +€799 | +140.7% |
| Recurring financial income | 75 | €568 | €1,367 | +€799 | +140.7% |
| Financial charges | 65/66B | €3,021 | €578 | -€2,443 | -80.9% |
| Recurring financial charges | 65 | €3,021 | €578 | -€2,443 | -80.9% |
| Profit (loss) for the period before taxes | 9903 | €120,293 | €154,711 | +€34,418 | +28.6% |
| Income taxes | 67/77 | €26,093 | €34,531 | +€8,437 | +32.3% |
| Profit (loss) for the period | 9904 | €94,199 | €120,180 | +€25,981 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €94,199 | €120,180 | +€25,981 | +27.6% |
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 29 September 2026 via checked.be.