Reyniers & Ceulemans: what changed
Reyniers & Ceulemans
Largest movements
- Cash -€26,800
down €26,800 (-7.5%), from €357,685 to €330,885
mainly Contributions, distributions and other (-€93,000) and Investment in fixed assets (net) (-€17,946)
- Tangible fixed assets +€11,837
up €11,837 (+315%), from €3,753 to €15,590
of which Furniture and vehicles: +€11,837
- Profit (loss) carried forward -€144,718
no longer reported in 2025 (was €144,718)
- Reserves +€131,501
up €131,501 (+30.5%), from €430,518 to €562,019
of which Distributable reserves: +€131,501
- Trade debts +€19,625
up €19,625 (+51.9%), from €37,817 to €57,442
- Tax, wage and social debts -€15,714
down €15,714 (-65.5%), from €23,983 to €8,269
of which Taxes: -€15,888
- Gross operating margin -€206,371
down €206,371 (-54.1%), from €381,713 to €175,342
- Taxes -€45,480
down €45,480 (-63.3%), from €71,840 to €26,360
- Staff costs -€18,935
down €18,935 (-23.8%), from €79,447 to €60,512
- Financial charges -€17,414
down €17,414 (-95.9%), from €18,159 to €745
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €658,464 | €649,777 | -€8,688 | -1.3% |
| Fixed assets | 21/28 | €3,903 | €15,740 | +€11,837 | +303% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €3,753 | €15,590 | +€11,837 | +315% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | 0.0% |
| Furniture and vehicles | 24 | €3,753 | €15,590 | +€11,837 | +315% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €654,562 | €634,037 | -€20,525 | -3.1% |
| Amounts receivable within one year | 40/41 | €293,762 | €296,666 | +€2,905 | +1.0% |
| Trade receivables | 40 | €281,180 | €280,349 | -€832 | -0.3% |
| Other amounts receivable | 41 | €12,582 | €16,318 | +€3,736 | +29.7% |
| Cash at bank and in hand | 54/58 | €357,685 | €330,885 | -€26,800 | -7.5% |
| Deferred charges and accrued income | 490/1 | €3,115 | €6,485 | +€3,370 | +108% |
| Total equity and liabilities | 10/49 | €658,464 | €649,777 | -€8,688 | -1.3% |
| Equity | 10/15 | €593,836 | €580,619 | -€13,217 | -2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €430,518 | €562,019 | +€131,501 | +30.5% |
| Tax-exempt reserves | 132 | €84,416 | €84,416 | = | 0.0% |
| Distributable reserves | 133 | €346,102 | €477,604 | +€131,501 | +38.0% |
| Profit (loss) carried forward | 14 | €144,718 | - | -€144,718 | |
| Amounts payable | 17/49 | €64,628 | €69,157 | +€4,529 | +7.0% |
| Amounts payable within one year | 42/48 | €64,628 | €69,157 | +€4,529 | +7.0% |
| Trade debts | 44 | €37,817 | €57,442 | +€19,625 | +51.9% |
| Suppliers | 440/4 | €37,817 | €57,442 | +€19,625 | +51.9% |
| Taxes, remuneration and social security | 45 | €23,983 | €8,269 | -€15,714 | -65.5% |
| Taxes | 450/3 | €15,888 | - | -€15,888 | |
| Remuneration and social security | 454/9 | €8,095 | €8,269 | +€174 | +2.2% |
| Other amounts payable | 47/48 | €2,828 | €3,447 | +€618 | +21.9% |
| Remuneration, social security and pensions | 62 | €79,447 | €60,512 | -€18,935 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,509 | €6,109 | -€400 | -6.1% |
| Other operating charges | 640/8 | €393 | €601 | +€208 | +52.8% |
| Non-recurring operating charges | 66A | - | €2,508 | +€2,508 | |
| Gross operating margin | 9900 | €381,713 | €175,342 | -€206,371 | -54.1% |
| Operating profit (loss) | 9901 | €295,364 | €105,612 | -€189,752 | -64.2% |
| Financial income | 75/76B | €4,378 | €1,275 | -€3,103 | -70.9% |
| Recurring financial income | 75 | €4,378 | €1,275 | -€3,103 | -70.9% |
| Financial charges | 65/66B | €18,159 | €745 | -€17,414 | -95.9% |
| Recurring financial charges | 65 | €18,159 | €745 | -€17,414 | -95.9% |
| Profit (loss) for the period before taxes | 9903 | €281,584 | €106,143 | -€175,441 | -62.3% |
| Income taxes | 67/77 | €71,840 | €26,360 | -€45,480 | -63.3% |
| Profit (loss) for the period | 9904 | €209,743 | €79,783 | -€129,960 | -62.0% |
| Transfer to tax-exempt reserves | 689 | €63,150 | - | -€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €146,593 | €79,783 | -€66,810 | -45.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.