Ceulemans Vleeswaren: 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 Vleeswaren
Largest movements
- Current investments -€199,999
no longer reported in 2025 (was €199,999)
- Cash +€103,224
up €103,224 (+36.8%), from €280,557 to €383,781
mainly Current investments (+€199,999) and Other debts (+€28,013)
- Stocks and contracts +€31,081
up €31,081 (+225%), from €13,794 to €44,875
- Receivables within one year +€23,957
up €23,957 (+5.9%), from €404,866 to €428,822
of which Trade receivables: +€99,710
- Reserves -€29,140
down €29,140 (-5.4%), from €540,082 to €510,942
- Other debts +€28,013
up €28,013 (+42.6%), from €65,827 to €93,840
- Trade debts -€27,988
down €27,988 (-10.0%), from €278,729 to €250,741
of which Suppliers: -€27,988
- Tax, wage and social debts -€11,717
down €11,717 (-40.1%), from €29,231 to €17,515
- Staff costs +€28,082
up €28,082 (+79.8%), from €35,199 to €63,281
- Taxes -€16,590
down €16,590 (-96.9%), from €17,117 to €527
- Gross operating margin -€13,657
down €13,657 (-15.5%), from €88,304 to €74,647
- Financial income -€5,824
down €5,824 (-85.8%), from €6,786 to €963
- Depreciation +€1,372
up €1,372 (+17.0%), from €8,062 to €9,434
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 | €953,870 | €913,038 | -€40,832 | -4.3% |
| Fixed assets | 21/28 | €54,655 | €55,559 | +€904 | +1.7% |
| Tangible fixed assets | 22/27 | €54,655 | €55,559 | +€904 | +1.7% |
| Land and buildings | 22 | €15,828 | €17,694 | +€1,866 | +11.8% |
| Plant, machinery and equipment | 23 | €26,233 | €28,496 | +€2,262 | +8.6% |
| Furniture and vehicles | 24 | €12,594 | €9,369 | -€3,224 | -25.6% |
| Current assets | 29/58 | €899,215 | €857,478 | -€41,737 | -4.6% |
| Stocks and contracts in progress | 3 | €13,794 | €44,875 | +€31,081 | +225% |
| Stocks | 30/36 | €13,794 | €44,875 | +€31,081 | +225% |
| Amounts receivable within one year | 40/41 | €404,866 | €428,822 | +€23,957 | +5.9% |
| Trade receivables | 40 | €302,083 | €401,793 | +€99,710 | +33.0% |
| Other amounts receivable | 41 | €102,782 | €27,029 | -€75,753 | -73.7% |
| Current investments | 50/53 | €199,999 | - | -€199,999 | |
| Cash at bank and in hand | 54/58 | €280,557 | €383,781 | +€103,224 | +36.8% |
| Total equity and liabilities | 10/49 | €953,870 | €913,038 | -€40,832 | -4.3% |
| Equity | 10/15 | €580,082 | €550,942 | -€29,140 | -5.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €540,082 | €510,942 | -€29,140 | -5.4% |
| Distributable reserves | 133 | €540,082 | €510,942 | -€29,140 | -5.4% |
| Amounts payable | 17/49 | €373,788 | €362,096 | -€11,692 | -3.1% |
| Amounts payable within one year | 42/48 | €373,788 | €362,096 | -€11,692 | -3.1% |
| Trade debts | 44 | €278,729 | €250,741 | -€27,988 | -10.0% |
| Suppliers | 440/4 | €275,867 | €247,879 | -€27,988 | -10.1% |
| Bills of exchange payable | 441 | €2,862 | €2,862 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €29,231 | €17,515 | -€11,717 | -40.1% |
| Taxes | 450/3 | €29,231 | €17,515 | -€11,717 | -40.1% |
| Other amounts payable | 47/48 | €65,827 | €93,840 | +€28,013 | +42.6% |
| Remuneration, social security and pensions | 62 | €35,199 | €63,281 | +€28,082 | +79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,062 | €9,434 | +€1,372 | +17.0% |
| Other operating charges | 640/8 | €996 | €1,701 | +€705 | +70.7% |
| Gross operating margin | 9900 | €88,304 | €74,647 | -€13,657 | -15.5% |
| Operating profit (loss) | 9901 | €44,047 | €231 | -€43,816 | -99.5% |
| Financial income | 75/76B | €6,786 | €963 | -€5,824 | -85.8% |
| Recurring financial income | 75 | €6,786 | €963 | -€5,824 | -85.8% |
| Financial charges | 65/66B | €311 | €320 | +€9 | +2.9% |
| Recurring financial charges | 65 | €311 | €320 | +€9 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €50,523 | €874 | -€49,649 | -98.3% |
| Income taxes | 67/77 | €17,117 | €527 | -€16,590 | -96.9% |
| Profit (loss) for the period | 9904 | €33,406 | €347 | -€33,059 | -99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,406 | €347 | -€33,059 | -99.0% |
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 19 October 2026 via checked.be.