Johan Ceuleneer: 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.
Johan Ceuleneer
Largest movements
- Tangible fixed assets +€51,317
up €51,317 (+336.8%), from €15,234 to €66,551
of which Leasing and similar rights: +€50,260
- Cash -€27,225
down €27,225 (-80.5%), from €33,815 to €6,590
mainly Investment in fixed assets (net) (-€63,814) and Receivables within one year (-€13,775)
- Receivables within one year +€13,775
up €13,775 (+70.6%), from €19,518 to €33,294
of which Trade receivables: +€9,651
- Debts after one year +€42,782
up €42,782, from €0 to €42,782
- Current portion of long-term debt +€8,946
up €8,946 (+260.5%), from €3,434 to €12,379
- Profit (loss) carried forward -€5,300
down €5,300 (-99.8%), from €5,309 to €10
- Tax, wage and social debts -€4,509
down €4,509 (-60.1%), from €7,497 to €2,988
- Trade debts -€2,504
down €2,504 (-64.6%), from €3,875 to €1,371
- Other operating charges +€11,265
up €11,265 (+1575.0%), from €715 to €11,980
- Taxes -€4,764
down €4,764, from €4,763 to -€1
- Financial charges +€3,280
up €3,280 (+1560.4%), from €210 to €3,490
- Gross operating margin -€3,245
down €3,245 (-12.8%), from €25,295 to €22,050
- Depreciation +€2,967
up €2,967 (+31.1%), from €9,531 to €12,497
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 | €69,474 | €106,480 | +€37,006 | +53.3% |
| Fixed assets | 21/28 | €15,279 | €66,596 | +€51,317 | +335.9% |
| Tangible fixed assets | 22/27 | €15,234 | €66,551 | +€51,317 | +336.8% |
| Plant, machinery and equipment | 23 | €4,464 | €2,413 | -€2,051 | -46.0% |
| Furniture and vehicles | 24 | - | €3,108 | +€3,108 | |
| Leasing and similar rights | 25 | €10,770 | €61,031 | +€50,260 | +466.7% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €54,194 | €39,884 | -€14,310 | -26.4% |
| Amounts receivable within one year | 40/41 | €19,518 | €33,294 | +€13,775 | +70.6% |
| Trade receivables | 40 | €138 | €9,790 | +€9,651 | +6969.4% |
| Other amounts receivable | 41 | €19,380 | €23,504 | +€4,124 | +21.3% |
| Cash at bank and in hand | 54/58 | €33,815 | €6,590 | -€27,225 | -80.5% |
| Deferred charges and accrued income | 490/1 | €861 | €0 | -€861 | -100.0% |
| Total equity and liabilities | 10/49 | €69,474 | €106,480 | +€37,006 | +53.3% |
| Equity | 10/15 | €52,259 | €45,190 | -€7,069 | -13.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €45,950 | €44,180 | -€1,770 | -3.9% |
| Distributable reserves | 133 | €45,950 | €44,180 | -€1,770 | -3.9% |
| Profit (loss) carried forward | 14 | €5,309 | €10 | -€5,300 | -99.8% |
| Amounts payable | 17/49 | €17,215 | €61,290 | +€44,075 | +256.0% |
| Amounts payable after more than one year | 17 | €0 | €42,782 | +€42,782 | |
| Financial debts | 170/4 | €0 | €42,782 | +€42,782 | |
| Amounts payable within one year | 42/48 | €17,215 | €18,508 | +€1,293 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €3,434 | €12,379 | +€8,946 | +260.5% |
| Trade debts | 44 | €3,875 | €1,371 | -€2,504 | -64.6% |
| Suppliers | 440/4 | €3,875 | €1,371 | -€2,504 | -64.6% |
| Advances received on contracts in progress | 46 | €166 | €0 | -€166 | -100.0% |
| Taxes, remuneration and social security | 45 | €7,497 | €2,988 | -€4,509 | -60.1% |
| Taxes | 450/3 | €7,497 | €2,988 | -€4,509 | -60.1% |
| Other amounts payable | 47/48 | €2,243 | €1,770 | -€473 | -21.1% |
| Remuneration, social security and pensions | 62 | - | €586 | +€586 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,531 | €12,497 | +€2,967 | +31.1% |
| Other operating charges | 640/8 | €715 | €11,980 | +€11,265 | +1575.0% |
| Gross operating margin | 9900 | €25,295 | €22,050 | -€3,245 | -12.8% |
| Operating profit (loss) | 9901 | €15,049 | -€3,014 | -€18,063 | |
| Financial income | 75/76B | €1,271 | €1,203 | -€68 | -5.3% |
| Recurring financial income | 75 | €1,271 | €1,203 | -€68 | -5.3% |
| Financial charges | 65/66B | €210 | €3,490 | +€3,280 | +1560.4% |
| Recurring financial charges | 65 | €210 | €3,490 | +€3,280 | +1560.4% |
| Profit (loss) for the period before taxes | 9903 | €16,110 | -€5,301 | -€21,410 | |
| Income taxes | 67/77 | €4,763 | -€1 | -€4,764 | |
| Profit (loss) for the period | 9904 | €11,347 | -€5,300 | -€16,647 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,347 | -€5,300 | -€16,647 |
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 9 October 2026 via checked.be.