CELVIZIA: 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.
CELVIZIA
Largest movements
- Stocks and contracts +€901,076
up €901,076 (+135%), from €668,125 to €1.6m
- Receivables within one year -€162,197
down €162,197 (-55.6%), from €291,631 to €129,434
of which Other amounts receivable: -€141,666
- Tangible fixed assets -€147,393
down €147,393 (-4.0%), from €3.7m to €3.6m
of which Land and buildings: -€139,686
- Cash +€109,242
up €109,242 (+120%), from €91,358 to €200,600
mainly Other debts (+€453,854) and Debts after one year (+€404,230)
- Other debts +€453,854
up €453,854 (+151%), from €300,048 to €753,902
- Debts after one year +€404,230
up €404,230 (+11.6%), from €3.5m to €3.9m
of which Financial debts: +€400,540
- Current portion of long-term debt -€255,021
down €255,021 (-45.1%), from €565,328 to €310,307
- Reserves +€61,358
up €61,358 (+18.8%), from €326,813 to €388,171
- Financial charges -€43,879
down €43,879 (-39.5%), from €111,039 to €67,160
- Write-downs +€22,435
new in 2025: €22,435
- Financial income -€13,508
down €13,508 (-99.4%), from €13,587 to €79
- Staff costs +€10,192
up €10,192 (+24.9%), from €40,892 to €51,084
- Taxes -€7,402
down €7,402 (-32.1%), from €23,043 to €15,641
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,760,662 | €5,465,452 | +€704,790 | +14.8% |
| Fixed assets | 21/28 | €3,703,205 | €3,558,678 | -€144,527 | -3.9% |
| Intangible fixed assets | 21 | €2,025 | €4,891 | +€2,866 | +142% |
| Tangible fixed assets | 22/27 | €3,701,180 | €3,553,787 | -€147,393 | -4.0% |
| Land and buildings | 22 | €3,643,152 | €3,503,466 | -€139,686 | -3.8% |
| Plant, machinery and equipment | 23 | €17,932 | €13,406 | -€4,526 | -25.2% |
| Furniture and vehicles | 24 | €40,096 | €36,915 | -€3,181 | -7.9% |
| Current assets | 29/58 | €1,057,457 | €1,906,774 | +€849,317 | +80.3% |
| Stocks and contracts in progress | 3 | €668,125 | €1,569,201 | +€901,076 | +135% |
| Stocks | 30/36 | €668,125 | €1,569,201 | +€901,076 | +135% |
| Amounts receivable within one year | 40/41 | €291,631 | €129,434 | -€162,197 | -55.6% |
| Trade receivables | 40 | €46,879 | €26,348 | -€20,531 | -43.8% |
| Other amounts receivable | 41 | €244,752 | €103,086 | -€141,666 | -57.9% |
| Cash at bank and in hand | 54/58 | €91,358 | €200,600 | +€109,242 | +120% |
| Deferred charges and accrued income | 490/1 | €6,343 | €7,539 | +€1,196 | +18.9% |
| Total equity and liabilities | 10/49 | €4,760,662 | €5,465,452 | +€704,790 | +14.8% |
| Equity | 10/15 | €341,724 | €403,082 | +€61,358 | +18.0% |
| Contributions | 10/11 | €4,434 | €4,434 | = | 0.0% |
| Reserves | 13 | €326,813 | €388,171 | +€61,358 | +18.8% |
| Distributable reserves | 133 | €326,813 | €388,171 | +€61,358 | +18.8% |
| Profit (loss) carried forward | 14 | €10,477 | €10,477 | = | 0.0% |
| Amounts payable | 17/49 | €4,418,938 | €5,062,370 | +€643,432 | +14.6% |
| Amounts payable after more than one year | 17 | €3,478,629 | €3,882,859 | +€404,230 | +11.6% |
| Financial debts | 170/4 | €3,472,629 | €3,873,169 | +€400,540 | +11.5% |
| Other amounts payable | 178/9 | €6,000 | €9,690 | +€3,690 | +61.5% |
| Amounts payable within one year | 42/48 | €940,156 | €1,179,511 | +€239,355 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €565,328 | €310,307 | -€255,021 | -45.1% |
| Trade debts | 44 | €36,962 | €61,417 | +€24,455 | +66.2% |
| Suppliers | 440/4 | €36,962 | €61,417 | +€24,455 | +66.2% |
| Taxes, remuneration and social security | 45 | €37,818 | €53,885 | +€16,067 | +42.5% |
| Taxes | 450/3 | €28,713 | €42,926 | +€14,213 | +49.5% |
| Remuneration and social security | 454/9 | €9,105 | €10,959 | +€1,854 | +20.4% |
| Other amounts payable | 47/48 | €300,048 | €753,902 | +€453,854 | +151% |
| Accrued charges and deferred income | 492/3 | €153 | - | -€153 | |
| Remuneration, social security and pensions | 62 | €40,892 | €51,084 | +€10,192 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,130 | €115,126 | +€5,996 | +5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €22,435 | +€22,435 | |
| Other operating charges | 640/8 | €14,997 | €13,180 | -€1,817 | -12.1% |
| Gross operating margin | 9900 | €343,140 | €345,905 | +€2,765 | +0.8% |
| Operating profit (loss) | 9901 | €178,121 | €144,080 | -€34,041 | -19.1% |
| Financial income | 75/76B | €13,587 | €79 | -€13,508 | -99.4% |
| Recurring financial income | 75 | €13,587 | €79 | -€13,508 | -99.4% |
| Financial charges | 65/66B | €111,039 | €67,160 | -€43,879 | -39.5% |
| Recurring financial charges | 65 | €111,039 | €67,160 | -€43,879 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €80,669 | €76,999 | -€3,670 | -4.5% |
| Income taxes | 67/77 | €23,043 | €15,641 | -€7,402 | -32.1% |
| Profit (loss) for the period | 9904 | €57,626 | €61,358 | +€3,732 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €57,626 | €61,358 | +€3,732 | +6.5% |
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 17 October 2026 via checked.be.