IMMO CEULEMANS: 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.
IMMO CEULEMANS
Largest movements
- Tangible fixed assets -€21,144
down €21,144 (-3.2%), from €668,833 to €647,689
of which Land and buildings: -€19,420
- Cash -€18,885
down €18,885 (-6.8%), from €278,876 to €259,991
mainly Net result for the year (-€26,441) and Other debts (-€20,038)
- Profit (loss) carried forward -€26,441
down €26,441 (-4.8%), from €554,332 to €527,891
- Other debts -€20,038
down €20,038 (-7.7%), from €259,478 to €239,440
- Gross operating margin -€3,864
down €3,864 (-36.4%), from €10,616 to €6,752
- Financial charges +€3,705
up €3,705, from -€3,524 to €181
- Depreciation +€3,038
up €3,038 (+10.3%), from €29,445 to €32,483
- Other operating charges -€1,993
down €1,993 (-28.8%), from €6,925 to €4,932
- Financial income -€513
down €513 (-9.6%), from €5,338 to €4,825
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.
Cash bridge derived
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 | €1,197,645 | €1,150,527 | -€47,118 | -3.9% |
| Fixed assets | 21/28 | €668,833 | €647,689 | -€21,144 | -3.2% |
| Tangible fixed assets | 22/27 | €668,833 | €647,689 | -€21,144 | -3.2% |
| Land and buildings | 22 | €665,544 | €646,123 | -€19,420 | -2.9% |
| Plant, machinery and equipment | 23 | €3,289 | €1,565 | -€1,723 | -52.4% |
| Current assets | 29/58 | €528,812 | €502,838 | -€25,974 | -4.9% |
| Amounts receivable within one year | 40/41 | €8,034 | €1,277 | -€6,757 | -84.1% |
| Trade receivables | 40 | €4,837 | - | -€4,837 | |
| Other amounts receivable | 41 | €3,198 | €1,277 | -€1,921 | -60.1% |
| Current investments | 50/53 | €241,570 | €241,570 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €278,876 | €259,991 | -€18,885 | -6.8% |
| Deferred charges and accrued income | 490/1 | €332 | - | -€332 | |
| Total equity and liabilities | 10/49 | €1,197,645 | €1,150,527 | -€47,118 | -3.9% |
| Equity | 10/15 | €937,502 | €911,061 | -€26,441 | -2.8% |
| Contributions | 10/11 | €295,000 | €295,000 | = | 0.0% |
| Reserves | 13 | €88,170 | €88,170 | = | 0.0% |
| Distributable reserves | 133 | €88,170 | €88,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | €554,332 | €527,891 | -€26,441 | -4.8% |
| Amounts payable | 17/49 | €260,143 | €239,466 | -€20,677 | -7.9% |
| Amounts payable within one year | 42/48 | €259,748 | €239,466 | -€20,281 | -7.8% |
| Trade debts | 44 | €155 | €26 | -€129 | -83.3% |
| Suppliers | 440/4 | €155 | €26 | -€129 | -83.3% |
| Taxes, remuneration and social security | 45 | €114 | - | -€114 | |
| Taxes | 450/3 | €114 | - | -€114 | |
| Other amounts payable | 47/48 | €259,478 | €239,440 | -€20,038 | -7.7% |
| Accrued charges and deferred income | 492/3 | €395 | - | -€395 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,445 | €32,483 | +€3,038 | +10.3% |
| Other operating charges | 640/8 | €6,925 | €4,932 | -€1,993 | -28.8% |
| Non-recurring operating charges | 66A | - | €365 | +€365 | |
| Gross operating margin | 9900 | €10,616 | €6,752 | -€3,864 | -36.4% |
| Operating profit (loss) | 9901 | -€25,755 | -€31,028 | -€5,274 | -20.5% |
| Financial income | 75/76B | €5,338 | €4,825 | -€513 | -9.6% |
| Recurring financial income | 75 | €5,338 | €4,825 | -€513 | -9.6% |
| Financial charges | 65/66B | -€3,524 | €181 | +€3,705 | |
| Recurring financial charges | 65 | -€3,524 | €181 | +€3,705 | |
| Profit (loss) for the period before taxes | 9903 | -€16,893 | -€26,385 | -€9,492 | -56.2% |
| Income taxes | 67/77 | €128 | €56 | -€72 | -56.3% |
| Profit (loss) for the period | 9904 | -€17,021 | -€26,441 | -€9,420 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,021 | -€26,441 | -€9,420 | -55.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.