CelVer: 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.
CelVer
Largest movements
- Receivables after one year +€45,000
new in 2025: €45,000
- Receivables within one year -€38,245
down €38,245 (-75.1%), from €50,943 to €12,698
of which Other amounts receivable: -€40,182
- Tangible fixed assets +€11,826
up €11,826 (+1123.3%), from €1,053 to €12,879
of which Furniture and vehicles: +€7,238
- Cash +€1,109
up €1,109 (+52.6%), from €2,110 to €3,219
mainly Receivables within one year (+€38,245) and Advances received (+€13,194)
- Advances received +€13,194
up €13,194 (+306.4%), from €4,306 to €17,500
- Trade debts +€4,234
up €4,234 (+53.9%), from €7,859 to €12,093
- Reserves +€1,725
up €1,725 (+4.6%), from €37,645 to €39,370
- Gross operating margin -€11,740
down €11,740 (-54.7%), from €21,464 to €9,724
- Financial charges -€2,843
down €2,843 (-45.8%), from €6,200 to €3,358
- Taxes -€2,396
down €2,396 (-48.6%), from €4,932 to €2,537
- Depreciation +€2,190
up €2,190 (+825.2%), from €265 to €2,455
- Financial income -€437
down €437 (-22.6%), from €1,937 to €1,500
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 | €55,208 | €74,342 | +€19,133 | +34.7% |
| Fixed assets | 21/28 | €1,053 | €12,879 | +€11,826 | +1123.3% |
| Tangible fixed assets | 22/27 | €1,053 | €12,879 | +€11,826 | +1123.3% |
| Furniture and vehicles | 24 | €1,053 | €8,291 | +€7,238 | +687.5% |
| Other tangible fixed assets | 26 | - | €4,588 | +€4,588 | |
| Current assets | 29/58 | €54,155 | €61,462 | +€7,307 | +13.5% |
| Amounts receivable after more than one year | 29 | - | €45,000 | +€45,000 | |
| Other amounts receivable | 291 | - | €45,000 | +€45,000 | |
| Amounts receivable within one year | 40/41 | €50,943 | €12,698 | -€38,245 | -75.1% |
| Trade receivables | 40 | €3,249 | €5,185 | +€1,936 | +59.6% |
| Other amounts receivable | 41 | €47,694 | €7,513 | -€40,182 | -84.2% |
| Cash at bank and in hand | 54/58 | €2,110 | €3,219 | +€1,109 | +52.6% |
| Deferred charges and accrued income | 490/1 | €1,102 | €546 | -€557 | -50.5% |
| Total equity and liabilities | 10/49 | €55,208 | €74,342 | +€19,133 | +34.7% |
| Equity | 10/15 | €39,645 | €41,370 | +€1,725 | +4.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €37,645 | €39,370 | +€1,725 | +4.6% |
| Distributable reserves | 133 | €37,645 | €39,370 | +€1,725 | +4.6% |
| Amounts payable | 17/49 | €15,563 | €32,971 | +€17,408 | +111.9% |
| Amounts payable within one year | 42/48 | €15,563 | €32,971 | +€17,408 | +111.9% |
| Current portion of amounts payable after more than one year | 42 | - | €587 | +€587 | |
| Trade debts | 44 | €7,859 | €12,093 | +€4,234 | +53.9% |
| Suppliers | 440/4 | €7,859 | €12,093 | +€4,234 | +53.9% |
| Advances received on contracts in progress | 46 | €4,306 | €17,500 | +€13,194 | +306.4% |
| Taxes, remuneration and social security | 45 | €3,398 | €2,791 | -€607 | -17.9% |
| Taxes | 450/3 | €3,398 | €2,341 | -€1,057 | -31.1% |
| Remuneration and social security | 454/9 | - | €450 | +€450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €265 | €2,455 | +€2,190 | +825.2% |
| Other operating charges | 640/8 | €865 | €1,150 | +€286 | +33.0% |
| Gross operating margin | 9900 | €21,464 | €9,724 | -€11,740 | -54.7% |
| Operating profit (loss) | 9901 | €20,334 | €6,119 | -€14,215 | -69.9% |
| Financial income | 75/76B | €1,937 | €1,500 | -€437 | -22.6% |
| Recurring financial income | 75 | €1,937 | €1,500 | -€437 | -22.6% |
| Financial charges | 65/66B | €6,200 | €3,358 | -€2,843 | -45.8% |
| Recurring financial charges | 65 | €6,200 | €3,358 | -€2,843 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €16,072 | €4,262 | -€11,810 | -73.5% |
| Income taxes | 67/77 | €4,932 | €2,537 | -€2,396 | -48.6% |
| Profit (loss) for the period | 9904 | €11,139 | €1,725 | -€9,414 | -84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,139 | €1,725 | -€9,414 | -84.5% |
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.