GROUP CELO: what changed
Two fiscal 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.
GROUP CELO
Largest movements
- Receivables within one year +€11,618
up €11,618 (+5.7%), from €202,188 to €213,806
of which Trade receivables: +€15,300
- Cash -€3,606
down €3,606 (-30.8%), from €11,725 to €8,120
mainly Investment in fixed assets (net) (-€17,340) and Debts after one year (-€13,427)
- Reserves +€13,995
up €13,995 (+13.8%), from €101,396 to €115,391
of which Distributable reserves: +€13,995
- Debts after one year -€13,427
down €13,427 (-53.5%), from €25,103 to €11,676
- Other debts +€3,831
new in 2024: €3,831
- Current portion of long-term debt +€2,869
up €2,869 (+19.3%), from €14,897 to €17,766
- Gross operating margin +€35,962
up €35,962 (+773.0%), from €4,652 to €40,614
- Depreciation +€15,668
up €15,668 (+778.2%), from €2,013 to €17,682
- Taxes +€5,108
up €5,108 (+304.3%), from €1,678 to €6,786
- Financial charges +€1,159
up €1,159 (+241.2%), from €481 to €1,640
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €256,321 | €263,992 | +€7,671 | +3.0% |
| Fixed assets | 21/28 | €42,408 | €42,066 | -€342 | -0.8% |
| Tangible fixed assets | 22/27 | €42,408 | €42,066 | -€342 | -0.8% |
| Plant, machinery and equipment | 23 | - | €4,842 | +€4,842 | |
| Furniture and vehicles | 24 | €42,269 | €37,224 | -€5,045 | -11.9% |
| Other tangible fixed assets | 26 | €139 | €0 | -€139 | -100.0% |
| Current assets | 29/58 | €213,913 | €221,926 | +€8,012 | +3.7% |
| Amounts receivable within one year | 40/41 | €202,188 | €213,806 | +€11,618 | +5.7% |
| Trade receivables | 40 | - | €15,300 | +€15,300 | |
| Other amounts receivable | 41 | €202,188 | €198,506 | -€3,682 | -1.8% |
| Cash at bank and in hand | 54/58 | €11,725 | €8,120 | -€3,606 | -30.8% |
| Total equity and liabilities | 10/49 | €256,321 | €263,992 | +€7,671 | +3.0% |
| Equity | 10/15 | €113,796 | €127,791 | +€13,995 | +12.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €101,396 | €115,391 | +€13,995 | +13.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €99,536 | €113,531 | +€13,995 | +14.1% |
| Amounts payable | 17/49 | €142,525 | €136,200 | -€6,325 | -4.4% |
| Amounts payable after more than one year | 17 | €25,103 | €11,676 | -€13,427 | -53.5% |
| Financial debts | 170/4 | €25,103 | €11,676 | -€13,427 | -53.5% |
| Amounts payable within one year | 42/48 | €117,422 | €124,232 | +€6,810 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €14,897 | €17,766 | +€2,869 | +19.3% |
| Trade debts | 44 | €90,097 | €90,080 | -€17 | 0.0% |
| Suppliers | 440/4 | €90,097 | €90,080 | -€17 | 0.0% |
| Taxes, remuneration and social security | 45 | €12,428 | €12,555 | +€127 | +1.0% |
| Taxes | 450/3 | €12,428 | €12,555 | +€127 | +1.0% |
| Other amounts payable | 47/48 | - | €3,831 | +€3,831 | |
| Accrued charges and deferred income | 492/3 | - | €292 | +€292 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,013 | €17,682 | +€15,668 | +778.2% |
| Other operating charges | 640/8 | €850 | €848 | -€2 | -0.2% |
| Gross operating margin | 9900 | €4,652 | €40,614 | +€35,962 | +773.0% |
| Operating profit (loss) | 9901 | €1,789 | €22,085 | +€20,296 | +1134.7% |
| Financial income | 75/76B | - | €336 | +€336 | |
| Recurring financial income | 75 | - | €336 | +€336 | |
| Non-recurring financial income | 76B | - | €336 | +€336 | |
| Financial charges | 65/66B | €481 | €1,640 | +€1,159 | +241.2% |
| Recurring financial charges | 65 | €481 | €1,640 | +€1,159 | +241.2% |
| Profit (loss) for the period before taxes | 9903 | €1,308 | €20,781 | +€19,473 | +1488.8% |
| Income taxes | 67/77 | €1,678 | €6,786 | +€5,108 | +304.3% |
| Profit (loss) for the period | 9904 | -€370 | €13,995 | +€14,366 | |
| Profit (loss) for the period to be appropriated | 9905 | -€370 | €13,995 | +€14,366 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.