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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Cellcom

CELL · Bourse de Tunis · Consolidated statements

On this page
Company details
Legal name
CELLCOM SA
Listing
CELL on the Bourse de Tunis, active · ISIN TN0007590011 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, final status not established · source

Read with these figures

  • Qualified audit opinion. FY2025: The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Details below.
  • Audited financial statements not confirmed as final. The published copy is unsigned. The FY2025 figures come from it.
  • Auditor's emphasis of matter. Observation: the auditor draws attention to note IX on the subsidiary CELLCOM Retail, which states a material uncertainty about that subsidiary's ability to continue its activities (negative equity of 358 686 DT); the opinion is not modified on this point (PDF p21; note IX p18).
Full wording and sources

  • Auditor's report, year to 2025-12-31: qualified opinion ('except for')

    The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. Fondement de l'opinion avec réserve: CELLCOM SA holds shares in CELLCOM Côte d'Ivoire carried at 307 020 DT, fully provided for and excluded from consolidation since 2018; with no information on that entity's legal, accounting and financial situation, the auditor cannot conclude on the appropriateness of their accounting treatment (PDF p21).

    Source: Avis des sociétés — Etats financiers consolidés, CELLCOM, arrêtés au 31 décembre 2025, p21 (dated 2026-06-26)

  • Audited financial statements for 2025: final status not established

    The exchange's published notice reproduces the commissaire aux comptes' report on the consolidated statements dated 'Tunis, le 26 Juin 2026', closed with the typeset firm and partner name (AMC Ernst & Young, Achraf Guermech) and no visible signature (PDF p25, page image). The statements are published 'tels qu'ils seront soumis à l'approbation de l'Assemblée Générale Ordinaire qui se tiendra le 30 juin 2026' (PDF p1); no board approval date is printed.

    Source: Avis des sociétés — Etats financiers consolidés, CELLCOM, arrêtés au 31 décembre 2025 (dated 2026-06-26)

  • Auditor's emphasis of matter

    Observation: the auditor draws attention to note IX on the subsidiary CELLCOM Retail, which states a material uncertainty about that subsidiary's ability to continue its activities (negative equity of 358 686 DT); the opinion is not modified on this point (PDF p21; note IX p18).

    Source: Avis des sociétés — Etats financiers consolidés, CELLCOM, arrêtés au 31 décembre 2025 (dated 2026-06-26)

  • Revenue

    TND 63.9 million

    63,901,744 TND units · p4

    −11.8% vs 2024

  • Operating profit / (loss)

    TND 199,396

    199,396 TND units · p4

    −90.6% vs 2024

  • Profit / (loss) for the year

    TND 290,096

    290,096 TND units · p4

    −41.3% vs 2024

  • Total assets

    TND 34.7 million

    34,731,819 TND units · p2

    +4.6% vs 2024

  • Total equity

    TND 5.85 million

    5,846,630 TND units · p3

    +5.2% vs 2024

  • Cash from operations

    −TND 3.39 million

    (3,385,089) TND units · p5

    Change not shown.

Large amounts are rounded for reading (TND million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in TND units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — audited financial statements, final status not established; reported for the year · source
  • FY2024 — audited financial statements, final status not established; comparative in the FY2025 filing · source

Income statement

Income statement, TND units. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Revenus 63,901,744 72,475,993
Total produits d'exploitation1 63,901,744 72,475,993
Coût d'achat des marchandises vendues 58,226,941 65,434,208
Charges de personnel 2,234,065 2,303,812
Dotations aux amortissements et aux2 1,080,108 454,585
Autres charges d'exploitation 2,161,233 2,170,770
Total des charges d'exploitation3 63,702,347 70,363,375
RESULTAT D'EXPLOITATION 199,396 2,112,618
Charges financières nettes4 280,386 (1,457,604)
Autres gains ordinaires5 42,275 66,824
Autres pertes ordinaires6 (68,748) (33,405)
RESULTAT COURANT DES SOCIETES 453,310 688,433
Impôts exigibles (163,213) (194,161)
RESULTAT NET 290,096 494,272
Effets des modifications comptables7 –8 –8
RESULTAT NET DE L'ENSEMBLE9 290,096 494,272
Part revenant aux intérêts minoritaires10 –11 –11
  1. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_hzbqf14z3hen.result_whole_group.
  2. Printed “-”; reading unresolved, so no amount is shown. Printed dash; no printed subtotal adds it, though the group share printed below equals the whole result.
Notes and alternative reported figures (9)
  1. “Total produits d'exploitation” is an issuer-specific line, not mapped to a shared definition: Total operating income (revenue only).
  2. “Dotations aux amortissements et aux” is an issuer-specific line, not mapped to a shared definition: Note B.4, printed as a positive charge.
  3. “Total des charges d'exploitation” is an issuer-specific line, not mapped to a shared definition: Operating charges, printed as positive amounts.
  4. “Charges financières nettes” is an issuer-specific line, not mapped to a shared definition: Note B.6: net financial result as it enters the current result; printed positive in 2025 (280 386, a net contribution) and in parentheses in 2024.
  5. “Autres gains ordinaires” is an issuer-specific line, not mapped to a shared definition: Note B.7.
  6. “Autres pertes ordinaires” is an issuer-specific line, not mapped to a shared definition: Note B.8.
  7. “Effets des modifications comptables” is an issuer-specific line, not mapped to a shared definition: Effect of accounting changes (dash in all columns).
  8. “RESULTAT NET DE L'ENSEMBLE” is an issuer-specific line, not mapped to a shared definition: Net result of the consolidated whole, after accounting changes.
  9. “Part revenant aux intérêts minoritaires” is an issuer-specific line, not mapped to a shared definition: Minority interests' share of the result (dash in all columns).

Balance sheet

Balance sheet, TND units. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Immobilisations incorporelles (net) 150,653 –1
Immobilisations corporelles (net) 386,068 377,956
Immobilisations financières (net)2 305,702 305,702
Total des actifs immobilisés3 842,423 683,658
TOTAL DES ACTIFS NON COURANTS 842,423 683,658
Stocks (net) 9,414,320 7,939,702
Clients et comptes rattachés (net) 10,993,731 10,025,285
Autres actifs courants (net)4 12,550,383 12,510,214
Liquidités et équivalents de liquidités 930,962 2,041,862
TOTAL DES ACTIFS COURANTS 33,889,396 32,517,063
TOTAL DES ACTIFS 34,731,819 33,200,721
Capital social 4,461,532 4,461,532
Réserves consolidées5 1,095,001 600,729
Résultat consolidé6 290,096 494,272
Total des capitaux propres - Part du 5,846,629 5,556,533
Intérêts minoritaires dans les réserves7 1 1
Intérêts minoritaires dans le résultat8 –9 –9
Total des intérêts minoritaires 1 1
Total des capitaux propres consolidés 5,846,630 5,556,534
Emprunts 357,947 224,845
Provisions pour risques et charges10 482,460 471,765
TOTAL DES PASSIFS NON COURANTS 840,407 696,610
Fournisseurs et comptes rattachés 8,433,937 10,546,553
Autres passifs courants11 3,141,530 2,358,462
Concours bancaires et autres passifs 16,469,314 14,042,562
TOTAL DES PASSIFS COURANTS 28,044,782 26,947,577
TOTAL DES PASSIFS 28,885,189 27,644,187
TOTAL DES CAPITAUX PROPRES ET 34,731,819 33,200,721
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.native.co_hzbqf14z3hen.total_fixed_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.non_controlling_interests.
Notes and alternative reported figures (9)
  1. “Immobilisations financières (net)” is an issuer-specific line, not mapped to a shared definition: Note A.2: financial fixed assets less provisions.
  2. “Total des actifs immobilisés” is an issuer-specific line, not mapped to a shared definition: Subtotal of intangible, tangible and financial fixed assets.
  3. “Autres actifs courants (net)” is an issuer-specific line, not mapped to a shared definition: Note A.5, net of provisions.
  4. “Réserves consolidées” is an issuer-specific line, not mapped to a shared definition: Group consolidated reserves.
  5. “Résultat consolidé” is an issuer-specific line, not mapped to a shared definition: The year's group result shown within equity.
  6. “Intérêts minoritaires dans les réserves” is an issuer-specific line, not mapped to a shared definition: Minority interests in reserves.
  7. “Intérêts minoritaires dans le résultat” is an issuer-specific line, not mapped to a shared definition: Minority interests in the year's result (dash both years).
  8. “Provisions pour risques et charges” is an issuer-specific line, not mapped to a shared definition: Note A.9 (non-current).
  9. “Autres passifs courants” is an issuer-specific line, not mapped to a shared definition: Note A.11; the 2024 restated figure includes the customs tax liability of the correction of error (note VIII).

Cash flow

Cash flow, TND units. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Résultat net après modifications1 290,096 494,272
*Amortissements et provisions2 1,080,108 454,585
- Stocks3 (1,600,517) (1,759,166)
- Créances clients4 (1,709,494) (5,620,210)
- Autres actifs5 (130,072) 1,401,721
- Fournisseurs et autres dettes6 (1,329,548) 4,236,715
Intérêt courus7 14,338 99,272
*Plus ou moins-values de cession8 –9 (14,833)
Total des flux de trésorerie liés aux (3,385,089) (707,645)
Décaissement pour acquisition d'immobilisations corporelles et (271,326) (208,052)
Encaissements provenant de la cession d'immobilisations corporelles et –10 189,000
Total des flux de trésorerie liés aux (271,326) (19,052)
Variation des emprunts leasing (Principal)11 183,428 (59,152)
Variation des crédits de financement à court12 3,085,657 1,654,910
Total des flux de trésorerie liés aux 3,269,085 1,595,758
Variation de trésorerie (387,330) 869,061
Trésorerie au début de l'exercice 325,130 (543,931)
Trésorerie à la clôture de l'exercice (62,200) 325,130
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (10)
  1. “Résultat net après modifications” is an issuer-specific line, not mapped to a shared definition: Indirect method: starting point.
  2. “*Amortissements et provisions” is an issuer-specific line, not mapped to a shared definition: Indirect method adjustment.
  3. “- Stocks” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  4. “- Créances clients” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  5. “- Autres actifs” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  6. “- Fournisseurs et autres dettes” is an issuer-specific line, not mapped to a shared definition: Working-capital change; 2024 restated (note VIII).
  7. “Intérêt courus” is an issuer-specific line, not mapped to a shared definition: Indirect method adjustment.
  8. “*Plus ou moins-values de cession” is an issuer-specific line, not mapped to a shared definition: Indirect method adjustment.
  9. “Variation des emprunts leasing (Principal)” is an issuer-specific line, not mapped to a shared definition: Financing: net change in lease borrowings (principal).
  10. “Variation des crédits de financement à court” is an issuer-specific line, not mapped to a shared definition: Financing: net change in short-term financing credit.

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Profit / (loss) attributable to shareholders (TND units)1 290,096 494,272
Notes and alternative reported figures (1)
  1. Profit / (loss) attributable to shareholders: printed as “Part revenant au groupe”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Avis des sociétés — Etats financiers consolidés, CELLCOM, arrêtés au 31 décembre 2025

    Year ended 31 December 2025 · Audited financial statements · final status not established

    Audit: AMC Ernst & Young (Achraf Guermech), commissaire aux comptes, qualified opinion

    Auditor's sign-off: AMC Ernst & Young, Achraf Guermech (names printed)

    Final status: The exchange's published notice reproduces the commissaire aux comptes' report on the consolidated statements dated 'Tunis, le 26 Juin 2026', closed with the typeset firm and partner name (AMC Ernst & Young, Achraf Guermech) and no visible signature (PDF p25, page image). The statements are published 'tels qu'ils seront soumis à l'approbation de l'Assemblée Générale Ordinaire qui se tiendra le 30 juin 2026' (PDF p1); no board approval date is printed.

    Document date
    26 Jun 2026
    Published
    29 Jun 2026
    Auditor's report
    26 Jun 2026
    Board approval
    date not found in this document
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · TND units (printed “Exprimé en dinar tunisien”)
    • Fondement de l'opinion avec réserve: CELLCOM SA holds shares in CELLCOM Côte d'Ivoire carried at 307 020 DT, fully provided for and excluded from consolidation since 2018; with no information on that entity's legal, accounting and financial situation, the auditor cannot conclude on the appropriateness of their accounting treatment (PDF p21).
    • Report on legal requirements (PDF p25): the publication deadlines for the financial statements were not observed; CELLCOM Retail's negative equity requires an extraordinary general meeting under article 142 of the Code des sociétés commerciales.
    • État de résultat 2025 (p4): RESULTAT D'EXPLOITATION 199 396 + charges financières nettes 280 386 + autres gains 42 275 + autres pertes (68 748) = 453 309, printed 453 310 (1 dinar). Kept as printed.
    • Cash in the cash-flow statement is net of bank overdrafts (note C.4, p17: liquidités 930 962 less concours bancaires 993 162 = (62 200); 2024: 2 041 862 less 1 716 732 = 325 130); the balance sheet's 'Liquidités et équivalents de liquidités' is gross. The cash-flow-to-balance-sheet checks fail for this reason only. Several printed subtotals differ from their components by 1 dinar (rounding).
    • Note VIII (p17): correction of an error (customs tax 'encouragement à la création', notified 3 December 2025, 1 645 424 DT in total, unrecorded in prior years). 2024 comparatives restated pro-forma: réserves consolidées -612 433, résultat -449 235 (cost of goods sold +449 235), autres passifs courants +1 061 668.
    Technical details
    File
    25 pages, with a text layer
    SHA-256
    3703f186c2302fdcd50db18f6568f2430f252bdf7eafd91357e45229abac9341
    Entity as printed
    Groupe CELLCOM (société mère « CELLCOM SA »)
    Exchange copy
    retrieved 2026-10-08T18:08:23Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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