C.A.T.'S.: what changed
Two financial 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.
C.A.T.'S.
Largest movements
- Receivables after one year +€1.3m
new in 2025: €1.3m
- Tangible fixed assets -€974,858
down €974,858 (-99.8%), from €977,286 to €2,428
of which Land and buildings: -€972,752
- Cash +€36,182
up €36,182 (+106%), from €34,070 to €70,251
mainly Investment in fixed assets (net) (+€973,904) and Net result for the year (+€374,257)
- Reserves +€374,225
up €374,225 (+326%), from €114,878 to €489,103
of which Distributable reserves: +€463,980
- Other debts +€42,086
up €42,086 (+42.8%), from €98,252 to €140,337
- Provisions -€38,059
down €38,059 (-100%), from €38,059 to €0
- Gross operating margin +€357,079
up €357,079 (+208%), from €172,011 to €529,090
- Taxes +€184,337
up €184,337 (+139,565%), from €132 to €184,470
- Depreciation -€53,474
down €53,474 (-98.2%), from €54,428 to €954
- Financial income +€20,764
up €20,764, from €0 to €20,764
- Other operating charges +€8,249
up €8,249 (+148%), from €5,566 to €13,816
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.
Derived cash bridge
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 | €1,013,887 | €1,386,598 | +€372,712 | +36.8% |
| Fixed assets | 21/28 | €977,286 | €2,428 | -€974,858 | -99.8% |
| Tangible fixed assets | 22/27 | €977,286 | €2,428 | -€974,858 | -99.8% |
| Land and buildings | 22 | €972,752 | €0 | -€972,752 | -100% |
| Plant, machinery and equipment | 23 | €1,086 | €0 | -€1,086 | -100% |
| Furniture and vehicles | 24 | €3,447 | €2,428 | -€1,019 | -29.6% |
| Current assets | 29/58 | €36,601 | €1,384,170 | +€1.3m | +3,682% |
| Amounts receivable after more than one year | 29 | - | €1,300,000 | +€1.3m | |
| Other amounts receivable | 291 | - | €1,300,000 | +€1.3m | |
| Amounts receivable within one year | 40/41 | €316 | €13,919 | +€13,603 | +4,301% |
| Trade receivables | 40 | €316 | €204 | -€113 | -35.6% |
| Other amounts receivable | 41 | - | €13,715 | +€13,715 | |
| Cash at bank and in hand | 54/58 | €34,070 | €70,251 | +€36,182 | +106% |
| Deferred charges and accrued income | 490/1 | €2,215 | €0 | -€2,215 | -100% |
| Total equity and liabilities | 10/49 | €1,013,887 | €1,386,598 | +€372,712 | +36.8% |
| Equity | 10/15 | €834,701 | €1,208,959 | +€374,257 | +44.8% |
| Contributions | 10/11 | €706,497 | €706,497 | = | 0.0% |
| Capital | 10 | €706,497 | €706,497 | = | 0.0% |
| Issued capital | 100 | €706,497 | €706,497 | = | 0.0% |
| Reserves | 13 | €114,878 | €489,103 | +€374,225 | +326% |
| Non-distributable reserves | 130/1 | €701 | €25,123 | +€24,422 | +3,482% |
| Legal reserve | 130 | €701 | €25,123 | +€24,422 | +3,482% |
| Tax-exempt reserves | 132 | €114,176 | €0 | -€114,176 | -100% |
| Distributable reserves | 133 | - | €463,980 | +€463,980 | |
| Profit (loss) carried forward | 14 | €13,327 | €13,359 | +€32 | +0.2% |
| Provisions and deferred taxes | 16 | €38,059 | €0 | -€38,059 | -100% |
| Deferred taxes | 168 | €38,059 | €0 | -€38,059 | -100% |
| Amounts payable | 17/49 | €141,127 | €177,640 | +€36,513 | +25.9% |
| Amounts payable after more than one year | 17 | €4,462 | €0 | -€4,462 | -100% |
| Other amounts payable | 178/9 | €4,462 | €0 | -€4,462 | -100% |
| Amounts payable within one year | 42/48 | €136,338 | €177,640 | +€41,302 | +30.3% |
| Financial debts | 43 | €11,000 | €0 | -€11,000 | -100% |
| Credit institutions | 430/8 | €11,000 | €0 | -€11,000 | -100% |
| Trade debts | 44 | €17,347 | €21,858 | +€4,511 | +26.0% |
| Suppliers | 440/4 | €17,347 | €21,858 | +€4,511 | +26.0% |
| Taxes, remuneration and social security | 45 | €9,739 | €15,444 | +€5,705 | +58.6% |
| Taxes | 450/3 | €5,524 | €15,444 | +€9,920 | +180% |
| Remuneration and social security | 454/9 | €4,215 | €0 | -€4,215 | -100% |
| Other amounts payable | 47/48 | €98,252 | €140,337 | +€42,086 | +42.8% |
| Accrued charges and deferred income | 492/3 | €327 | €0 | -€327 | -100% |
| Non-recurring operating income | 76A | €22,624 | €506,371 | +€483,747 | +2,138% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,428 | €954 | -€53,474 | -98.2% |
| Other operating charges | 640/8 | €5,566 | €13,816 | +€8,249 | +148% |
| Gross operating margin | 9900 | €172,011 | €529,090 | +€357,079 | +208% |
| Operating profit (loss) | 9901 | €112,016 | €514,320 | +€402,304 | +359% |
| Financial income | 75/76B | €0 | €20,764 | +€20,764 | |
| Recurring financial income | 75 | €0 | €20,764 | +€20,764 | |
| Financial charges | 65/66B | €7,469 | €14,416 | +€6,947 | +93.0% |
| Recurring financial charges | 65 | €7,469 | €14,416 | +€6,947 | +93.0% |
| Profit (loss) for the period before taxes | 9903 | €104,548 | €520,668 | +€416,121 | +398% |
| Transfer from deferred taxes | 780 | €2,134 | €38,059 | +€35,925 | +1,683% |
| Income taxes | 67/77 | €132 | €184,470 | +€184,337 | +139,565% |
| Profit (loss) for the period | 9904 | €106,550 | €374,257 | +€267,708 | +251% |
| Transfer from tax-exempt reserves | 789 | €6,402 | €114,176 | +€107,774 | +1,683% |
| Profit (loss) for the period to be appropriated | 9905 | €112,952 | €488,434 | +€375,482 | +332% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.