Ceulshaegen: 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.
Ceulshaegen
Largest movements
- Stocks and contracts -€140,000
down €140,000 (-24.8%), from €565,000 to €425,000
- Cash -€40,252
down €40,252 (-50.2%), from €80,246 to €39,994
mainly Net result for the year (-€99,033) and Other debts (-€86,832)
- Profit (loss) carried forward -€99,033
down €99,033 (-59.0%), from -€167,839 to -€266,872
- Other debts -€86,832
down €86,832 (-10.7%), from €812,779 to €725,947
- Gross operating margin +€46,890
up €46,890 (+33.4%), from -€140,221 to -€93,331
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 | €668,306 | €483,520 | -€184,786 | -27.6% |
| Fixed assets | 21/28 | €17,873 | €14,866 | -€3,007 | -16.8% |
| Tangible fixed assets | 22/27 | €17,873 | €14,866 | -€3,007 | -16.8% |
| Land and buildings | 22 | €11,321 | €9,189 | -€2,132 | -18.8% |
| Plant, machinery and equipment | 23 | €6,442 | €5,676 | -€766 | -11.9% |
| Furniture and vehicles | 24 | €109 | €0 | -€109 | -100% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €650,433 | €468,654 | -€181,779 | -27.9% |
| Stocks and contracts in progress | 3 | €565,000 | €425,000 | -€140,000 | -24.8% |
| Stocks | 30/36 | €565,000 | €425,000 | -€140,000 | -24.8% |
| Amounts receivable within one year | 40/41 | €5,187 | €3,657 | -€1,530 | -29.5% |
| Trade receivables | 40 | €0 | €2,337 | +€2,337 | |
| Other amounts receivable | 41 | €5,187 | €1,320 | -€3,867 | -74.5% |
| Cash at bank and in hand | 54/58 | €80,246 | €39,994 | -€40,252 | -50.2% |
| Deferred charges and accrued income | 490/1 | €0 | €3 | +€3 | |
| Total equity and liabilities | 10/49 | €668,306 | €483,520 | -€184,786 | -27.6% |
| Equity | 10/15 | -€162,839 | -€261,872 | -€99,033 | -60.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,839 | -€266,872 | -€99,033 | -59.0% |
| Amounts payable | 17/49 | €831,144 | €745,392 | -€85,753 | -10.3% |
| Amounts payable within one year | 42/48 | €831,144 | €745,342 | -€85,803 | -10.3% |
| Trade debts | 44 | €18,365 | €19,395 | +€1,030 | +5.6% |
| Suppliers | 440/4 | €18,365 | €19,395 | +€1,030 | +5.6% |
| Other amounts payable | 47/48 | €812,779 | €725,947 | -€86,832 | -10.7% |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,193 | €4,107 | +€914 | +28.6% |
| Other operating charges | 640/8 | €1,488 | €1,072 | -€416 | -28.0% |
| Gross operating margin | 9900 | -€140,221 | -€93,331 | +€46,890 | +33.4% |
| Operating profit (loss) | 9901 | -€144,902 | -€98,510 | +€46,392 | +32.0% |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,800% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,800% |
| Financial charges | 65/66B | €257 | €524 | +€267 | +104% |
| Recurring financial charges | 65 | €257 | €524 | +€267 | +104% |
| Profit (loss) for the period before taxes | 9903 | -€145,159 | -€99,033 | +€46,125 | +31.8% |
| Profit (loss) for the period | 9904 | -€145,159 | -€99,033 | +€46,125 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€145,159 | -€99,033 | +€46,125 | +31.8% |
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 14 October 2026 via checked.be.