CEOLAN: 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.
CEOLAN
Largest movements
- Receivables within one year -€910,659
down €910,659 (-92.3%), from €986,596 to €75,938
of which Other amounts receivable: -€919,650
- Tangible fixed assets +€547,194
up €547,194 (+13.3%), from €4.1m to €4.7m
of which Assets under construction and advance payments: +€611,438
- Other debts +€229,877
up €229,877 (+15.2%), from €1.5m to €1.7m
- Reserves -€190,000
down €190,000 (-9.3%), from €2.0m to €1.9m
of which Distributable reserves: -€190,000
- Short-term financial debts -€143,333
down €143,333 (-23.0%), from €623,333 to €480,000
- Debts after one year -€135,746
down €135,746 (-6.6%), from €2.0m to €1.9m
- Financial income -€347,401
down €347,401 (-100.0%), from €347,401 to €0
- Taxes -€23,748
down €23,748 (-99.6%), from €23,832 to €85
- Gross operating margin +€10,853
up €10,853 (+3.1%), from €345,989 to €356,843
- Depreciation -€5,983
down €5,983 (-11.7%), from €50,999 to €45,016
- Staff costs +€5,976
up €5,976 (+2.5%), from €242,786 to €248,762
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 | €10,464,859 | €10,117,300 | -€347,559 | -3.3% |
| Fixed assets | 21/28 | €9,462,873 | €10,010,068 | +€547,194 | +5.8% |
| Tangible fixed assets | 22/27 | €4,120,283 | €4,667,478 | +€547,194 | +13.3% |
| Land and buildings | 22 | €3,700,254 | €3,655,238 | -€45,016 | -1.2% |
| Furniture and vehicles | 24 | €19,228 | - | -€19,228 | |
| Assets under construction and advance payments | 27 | €400,801 | €1,012,239 | +€611,438 | +153% |
| Financial fixed assets | 28 | €5,342,590 | €5,342,590 | = | 0.0% |
| Current assets | 29/58 | €1,001,986 | €107,233 | -€894,753 | -89.3% |
| Amounts receivable within one year | 40/41 | €986,596 | €75,938 | -€910,659 | -92.3% |
| Trade receivables | 40 | €66,946 | €75,938 | +€8,991 | +13.4% |
| Other amounts receivable | 41 | €919,650 | - | -€919,650 | |
| Cash at bank and in hand | 54/58 | €10,191 | €24,858 | +€14,667 | +144% |
| Deferred charges and accrued income | 490/1 | €5,199 | €6,437 | +€1,238 | +23.8% |
| Total equity and liabilities | 10/49 | €10,464,859 | €10,117,300 | -€347,559 | -3.3% |
| Equity | 10/15 | €6,047,780 | €5,767,855 | -€279,925 | -4.6% |
| Contributions | 10/11 | €3,560,000 | €3,560,000 | = | 0.0% |
| Capital | 10 | €3,560,000 | €3,560,000 | = | 0.0% |
| Issued capital | 100 | €3,560,000 | €3,560,000 | = | 0.0% |
| Reserves | 13 | €2,041,000 | €1,851,000 | -€190,000 | -9.3% |
| Non-distributable reserves | 130/1 | €356,000 | €356,000 | = | 0.0% |
| Legal reserve | 130 | €356,000 | €356,000 | = | 0.0% |
| Distributable reserves | 133 | €1,685,000 | €1,495,000 | -€190,000 | -11.3% |
| Profit (loss) carried forward | 14 | €446,780 | €356,855 | -€89,925 | -20.1% |
| Amounts payable | 17/49 | €4,417,079 | €4,349,445 | -€67,634 | -1.5% |
| Amounts payable after more than one year | 17 | €2,047,220 | €1,911,474 | -€135,746 | -6.6% |
| Financial debts | 170/4 | €2,047,220 | €1,911,474 | -€135,746 | -6.6% |
| Amounts payable within one year | 42/48 | €2,369,859 | €2,437,971 | +€68,112 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €132,000 | €134,809 | +€2,809 | +2.1% |
| Financial debts | 43 | €623,333 | €480,000 | -€143,333 | -23.0% |
| Credit institutions | 430/8 | €623,333 | €480,000 | -€143,333 | -23.0% |
| Trade debts | 44 | €7,455 | €1,987 | -€5,468 | -73.3% |
| Suppliers | 440/4 | €7,455 | €1,987 | -€5,468 | -73.3% |
| Taxes, remuneration and social security | 45 | €93,481 | €77,708 | -€15,773 | -16.9% |
| Taxes | 450/3 | €56,035 | €40,085 | -€15,950 | -28.5% |
| Remuneration and social security | 454/9 | €37,446 | €37,623 | +€177 | +0.5% |
| Other amounts payable | 47/48 | €1,513,590 | €1,743,467 | +€229,877 | +15.2% |
| Remuneration, social security and pensions | 62 | €242,786 | €248,762 | +€5,976 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,999 | €45,016 | -€5,983 | -11.7% |
| Other operating charges | 640/8 | €9,838 | €9,788 | -€50 | -0.5% |
| Non-recurring operating charges | 66A | - | €14,703 | +€14,703 | |
| Gross operating margin | 9900 | €345,989 | €356,843 | +€10,853 | +3.1% |
| Operating profit (loss) | 9901 | €42,366 | €38,574 | -€3,793 | -9.0% |
| Financial income | 75/76B | €347,401 | €0 | -€347,401 | -100.0% |
| Recurring financial income | 75 | €347,401 | €0 | -€347,401 | -100.0% |
| Financial charges | 65/66B | €127,946 | €128,414 | +€468 | +0.4% |
| Recurring financial charges | 65 | €127,946 | €128,414 | +€468 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €261,821 | -€89,840 | -€351,662 | |
| Income taxes | 67/77 | €23,832 | €85 | -€23,748 | -99.6% |
| Profit (loss) for the period | 9904 | €237,989 | -€89,925 | -€327,914 | |
| Profit (loss) for the period to be appropriated | 9905 | €237,989 | -€89,925 | -€327,914 |
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 24 October 2026 via checked.be.