CEULEMANS CONCEPTS: 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.
CEULEMANS CONCEPTS
Largest movements
- Cash +€12,766
up €12,766 (+15.6%), from €81,593 to €94,359
mainly Net result for the year (+€15,733) and Depreciation (+€6,526)
- Receivables within one year +€4,856
up €4,856 (+14.3%), from €33,922 to €38,778
of which Other amounts receivable: +€4,104
- Tangible fixed assets -€3,885
down €3,885 (-25.5%), from €15,250 to €11,365
of which Leasing and similar rights: -€5,015
- Stocks and contracts -€1,781
down €1,781 (-33.1%), from €5,374 to €3,593
- Reserves +€7,110
up €7,110 (+6.4%), from €111,860 to €118,969
- Debts after one year -€5,320
down €5,320 (-56.1%), from €9,485 to €4,165
- Other debts +€4,757
up €4,757 (+138%), from €3,435 to €8,193
- Tax, wage and social debts +€2,597
up €2,597 (+235%), from €1,108 to €3,705
- Trade debts +€2,496
up €2,496 (+286%), from €873 to €3,369
- Gross operating margin -€18,409
down €18,409 (-38.3%), from €48,072 to €29,662
- Taxes -€5,825
down €5,825 (-44.2%), from €13,172 to €7,347
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 | €138,026 | €149,921 | +€11,895 | +8.6% |
| Fixed assets | 21/28 | €15,251 | €11,366 | -€3,885 | -25.5% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €15,250 | €11,365 | -€3,885 | -25.5% |
| Plant, machinery and equipment | 23 | €892 | €2,320 | +€1,427 | +160% |
| Furniture and vehicles | 24 | €577 | €279 | -€298 | -51.6% |
| Leasing and similar rights | 25 | €13,781 | €8,766 | -€5,015 | -36.4% |
| Current assets | 29/58 | €122,775 | €138,555 | +€15,780 | +12.9% |
| Stocks and contracts in progress | 3 | €5,374 | €3,593 | -€1,781 | -33.1% |
| Stocks | 30/36 | €5,374 | €3,593 | -€1,781 | -33.1% |
| Amounts receivable within one year | 40/41 | €33,922 | €38,778 | +€4,856 | +14.3% |
| Trade receivables | 40 | €5,618 | €6,369 | +€751 | +13.4% |
| Other amounts receivable | 41 | €28,304 | €32,408 | +€4,104 | +14.5% |
| Cash at bank and in hand | 54/58 | €81,593 | €94,359 | +€12,766 | +15.6% |
| Deferred charges and accrued income | 490/1 | €1,886 | €1,827 | -€59 | -3.2% |
| Total equity and liabilities | 10/49 | €138,026 | €149,921 | +€11,895 | +8.6% |
| Equity | 10/15 | €118,060 | €125,169 | +€7,110 | +6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €111,860 | €118,969 | +€7,110 | +6.4% |
| Distributable reserves | 133 | €111,860 | €118,969 | +€7,110 | +6.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,966 | €24,752 | +€4,786 | +24.0% |
| Amounts payable after more than one year | 17 | €9,485 | €4,165 | -€5,320 | -56.1% |
| Financial debts | 170/4 | €9,485 | €4,165 | -€5,320 | -56.1% |
| Amounts payable within one year | 42/48 | €10,481 | €20,587 | +€10,106 | +96.4% |
| Current portion of amounts payable after more than one year | 42 | €5,065 | €5,320 | +€255 | +5.0% |
| Trade debts | 44 | €873 | €3,369 | +€2,496 | +286% |
| Suppliers | 440/4 | €873 | €3,369 | +€2,496 | +286% |
| Taxes, remuneration and social security | 45 | €1,108 | €3,705 | +€2,597 | +235% |
| Taxes | 450/3 | €1,108 | €3,705 | +€2,597 | +235% |
| Other amounts payable | 47/48 | €3,435 | €8,193 | +€4,757 | +138% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,713 | €6,526 | -€187 | -2.8% |
| Other operating charges | 640/8 | €757 | €774 | +€17 | +2.3% |
| Gross operating margin | 9900 | €48,072 | €29,662 | -€18,409 | -38.3% |
| Operating profit (loss) | 9901 | €40,602 | €22,362 | -€18,240 | -44.9% |
| Financial income | 75/76B | €1,725 | €1,672 | -€52 | -3.0% |
| Recurring financial income | 75 | €1,725 | €1,672 | -€52 | -3.0% |
| Financial charges | 65/66B | €1,178 | €954 | -€224 | -19.0% |
| Recurring financial charges | 65 | €1,178 | €954 | -€224 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €41,149 | €23,081 | -€18,069 | -43.9% |
| Income taxes | 67/77 | €13,172 | €7,347 | -€5,825 | -44.2% |
| Profit (loss) for the period | 9904 | €27,977 | €15,733 | -€12,244 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,977 | €15,733 | -€12,244 | -43.8% |
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 27 October 2026 via checked.be.