Dr. Ceulemans Gaëtane: 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.
Dr. Ceulemans Gaëtane
Largest movements
- Cash -€44,047
down €44,047 (-42.1%), from €104,682 to €60,635
mainly Contributions, distributions and other (-€174,954) and Receivables within one year (-€24,113)
- Intangible fixed assets -€42,857
down €42,857 (-48.6%), from €88,178 to €45,321
- Receivables within one year +€24,113
up €24,113 (+24.5%), from €98,575 to €122,688
- Reserves -€174,954
down €174,954 (-100%), from €174,954 to €0
- Profit (loss) carried forward +€78,448
up €78,448, from €0 to €78,448
- Tax, wage and social debts +€36,814
up €36,814 (+174%), from €21,210 to €58,024
- Other debts -€16,103
down €16,103 (-13.5%), from €119,001 to €102,899
- Trade debts +€9,736
up €9,736 (+264%), from €3,694 to €13,430
- Gross operating margin +€8,370
up €8,370 (+5.9%), from €143,053 to €151,422
- Taxes +€4,893
up €4,893 (+23.1%), from €21,210 to €26,103
- Financial charges -€2,151
down €2,151 (-34.2%), from €6,289 to €4,138
- Financial income +€1,766
up €1,766 (+24,128%), from €7 to €1,774
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 | €338,229 | €276,708 | -€61,521 | -18.2% |
| Fixed assets | 21/28 | €109,955 | €69,543 | -€40,412 | -36.8% |
| Intangible fixed assets | 21 | €88,178 | €45,321 | -€42,857 | -48.6% |
| Tangible fixed assets | 22/27 | €21,777 | €24,222 | +€2,445 | +11.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €747 | €3,192 | +€2,445 | +327% |
| Other tangible fixed assets | 26 | €21,030 | €21,030 | = | 0.0% |
| Current assets | 29/58 | €228,274 | €207,165 | -€21,109 | -9.2% |
| Amounts receivable within one year | 40/41 | €98,575 | €122,688 | +€24,113 | +24.5% |
| Other amounts receivable | 41 | €98,575 | €122,688 | +€24,113 | +24.5% |
| Cash at bank and in hand | 54/58 | €104,682 | €60,635 | -€44,047 | -42.1% |
| Deferred charges and accrued income | 490/1 | €25,017 | €23,842 | -€1,175 | -4.7% |
| Total equity and liabilities | 10/49 | €338,229 | €276,708 | -€61,521 | -18.2% |
| Equity | 10/15 | €193,554 | €97,048 | -€96,506 | -49.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €174,954 | €0 | -€174,954 | -100% |
| Distributable reserves | 133 | €174,954 | €0 | -€174,954 | -100% |
| Profit (loss) carried forward | 14 | €0 | €78,448 | +€78,448 | |
| Amounts payable | 17/49 | €144,674 | €179,660 | +€34,986 | +24.2% |
| Amounts payable within one year | 42/48 | €143,905 | €174,352 | +€30,447 | +21.2% |
| Trade debts | 44 | €3,694 | €13,430 | +€9,736 | +264% |
| Suppliers | 440/4 | €3,694 | €13,430 | +€9,736 | +264% |
| Taxes, remuneration and social security | 45 | €21,210 | €58,024 | +€36,814 | +174% |
| Taxes | 450/3 | €21,210 | €58,024 | +€36,814 | +174% |
| Other amounts payable | 47/48 | €119,001 | €102,899 | -€16,103 | -13.5% |
| Accrued charges and deferred income | 492/3 | €769 | €5,308 | +€4,539 | +590% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,197 | €43,591 | +€394 | +0.9% |
| Other operating charges | 640/8 | €1,455 | €916 | -€539 | -37.1% |
| Gross operating margin | 9900 | €143,053 | €151,422 | +€8,370 | +5.9% |
| Operating profit (loss) | 9901 | €98,400 | €106,915 | +€8,515 | +8.7% |
| Financial income | 75/76B | €7 | €1,774 | +€1,766 | +24,128% |
| Recurring financial income | 75 | €7 | €1,774 | +€1,766 | +24,128% |
| Financial charges | 65/66B | €6,289 | €4,138 | -€2,151 | -34.2% |
| Recurring financial charges | 65 | €6,289 | €4,138 | -€2,151 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €92,119 | €104,551 | +€12,431 | +13.5% |
| Income taxes | 67/77 | €21,210 | €26,103 | +€4,893 | +23.1% |
| Profit (loss) for the period | 9904 | €70,909 | €78,448 | +€7,539 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,909 | €78,448 | +€7,539 | +10.6% |
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 20 October 2026 via checked.be.