You wont see the true reflection in terms of lack of Champions League revenue until next years figures.
All Champions League money is distributed between the clubs who competed in the competition when the competition ends, these figures produced today take only the gate receipts/merchandise/etc from European involvement into consideration and the lack of Champions League paritcipation has indeed effected the figures.
Full year figures will more than likely see a further increase in debt due to the fact lack of Champions League money at the end of the season including such things as less home games being played in the 6months etc etc.
Not a Rangers fan trying to make more of the figures than they are but I am just stating a few of the facts for you thats all, no doubt someone will say I'm wrong or take offence but as stated all CL money is payed at the end of the competition.
You were right about one thing - someone will say you are wrong. Your post would be correct except for the fact that that is not how accounting works.
In accounting there is a concept of accounting for income and expenditure known as accruals. What this means is that if any money is earned during a period even though it has not been recieved yet, it has to be included in the figures. This means that Celtics share of gate money, TV revenue, prize money etc (had they been in the Champs league) would have been included in the interim results and, by default, those figures exclude that money - basically, the bad news has already been delivered is what i am saying.
For example, if Rangers prepared their interim results to the same 31st december period, it would include an accrual for the champs league money that they effectively earned in that period, despite the fact that they won't recieve it until the summer.
So, in summary, Celtics figures already reflect the fact that there will be no champs league income and, you can compare them with any other season where Celtic have played in the group stages until Xmas. Not a bad set of results.
From looking at the figures, the increase in bank debt can be put down to investing 7 or 8 million in the team when income genrated has been lower.
Not a bad set of results all things considered.