Ca.Tr.: 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.
Ca.Tr.
Largest movements
- Cash -€1.0m
down €1.0m (-45.8%), from €2.3m to €1.2m
mainly Contributions, distributions and other (-€1.8m) and Investment in fixed assets (net) (-€126,276)
- Receivables within one year -€43,205
down €43,205 (-60.7%), from €71,148 to €27,943
of which Other amounts receivable: -€43,577
- Reserves -€1.1m
down €1.1m (-57.4%), from €1.9m to €813,489
of which Distributable reserves: -€1.1m
- Other debts +€65,436
up €65,436 (+32.5%), from €201,647 to €267,083
- Gross operating margin +€482,279
up €482,279 (+22.3%), from €2.2m to €2.6m
- Staff costs +€204,914
up €204,914 (+13.5%), from €1.5m to €1.7m
- Taxes +€46,029
up €46,029 (+52.0%), from €88,530 to €134,559
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 | €3,089,807 | €2,064,173 | -€1.0m | -33.2% |
| Fixed assets | 21/28 | €709,470 | €733,032 | +€23,563 | +3.3% |
| Intangible fixed assets | 21 | €673 | €137 | -€535 | -79.6% |
| Tangible fixed assets | 22/27 | €708,797 | €732,895 | +€24,098 | +3.4% |
| Plant, machinery and equipment | 23 | €66,309 | €56,297 | -€10,011 | -15.1% |
| Furniture and vehicles | 24 | €170,827 | €142,178 | -€28,650 | -16.8% |
| Other tangible fixed assets | 26 | €471,661 | €534,420 | +€62,759 | +13.3% |
| Current assets | 29/58 | €2,380,337 | €1,331,141 | -€1.0m | -44.1% |
| Stocks and contracts in progress | 3 | €26,638 | €42,616 | +€15,977 | +60.0% |
| Stocks | 30/36 | €26,638 | €42,616 | +€15,977 | +60.0% |
| Amounts receivable within one year | 40/41 | €71,148 | €27,943 | -€43,205 | -60.7% |
| Trade receivables | 40 | €10,972 | €11,344 | +€373 | +3.4% |
| Other amounts receivable | 41 | €60,176 | €16,599 | -€43,577 | -72.4% |
| Cash at bank and in hand | 54/58 | €2,272,745 | €1,232,346 | -€1.0m | -45.8% |
| Deferred charges and accrued income | 490/1 | €9,806 | €28,237 | +€18,431 | +188.0% |
| Total equity and liabilities | 10/49 | €3,089,807 | €2,064,173 | -€1.0m | -33.2% |
| Equity | 10/15 | €2,711,810 | €1,613,489 | -€1.1m | -40.5% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €1,911,810 | €813,489 | -€1.1m | -57.4% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €1,811,810 | €713,489 | -€1.1m | -60.6% |
| Amounts payable | 17/49 | €377,997 | €450,684 | +€72,687 | +19.2% |
| Amounts payable within one year | 42/48 | €369,354 | €436,569 | +€67,215 | +18.2% |
| Financial debts | 43 | €195 | €587 | +€392 | +200.5% |
| Credit institutions | 430/8 | €195 | €587 | +€392 | +200.5% |
| Trade debts | 44 | €67,097 | €61,417 | -€5,680 | -8.5% |
| Suppliers | 440/4 | €67,097 | €61,417 | -€5,680 | -8.5% |
| Taxes, remuneration and social security | 45 | €100,415 | €107,481 | +€7,066 | +7.0% |
| Taxes | 450/3 | €23,449 | €20,759 | -€2,690 | -11.5% |
| Remuneration and social security | 454/9 | €76,966 | €86,722 | +€9,757 | +12.7% |
| Other amounts payable | 47/48 | €201,647 | €267,083 | +€65,436 | +32.5% |
| Accrued charges and deferred income | 492/3 | €8,643 | €14,115 | +€5,472 | +63.3% |
| Remuneration, social security and pensions | 62 | €1,516,194 | €1,721,109 | +€204,914 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,728 | €102,714 | +€8,986 | +9.6% |
| Other operating charges | 640/8 | €8,783 | €17,851 | +€9,068 | +103.2% |
| Gross operating margin | 9900 | €2,166,648 | €2,648,927 | +€482,279 | +22.3% |
| Operating profit (loss) | 9901 | €547,942 | €807,253 | +€259,311 | +47.3% |
| Financial income | 75/76B | €8,316 | €1,994 | -€6,322 | -76.0% |
| Recurring financial income | 75 | €8,316 | €1,994 | -€6,322 | -76.0% |
| Financial charges | 65/66B | €5,777 | €6,350 | +€573 | +9.9% |
| Recurring financial charges | 65 | €5,777 | €6,350 | +€573 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €550,481 | €802,897 | +€252,416 | +45.9% |
| Income taxes | 67/77 | €88,530 | €134,559 | +€46,029 | +52.0% |
| Profit (loss) for the period | 9904 | €461,951 | €668,338 | +€206,387 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €461,951 | €668,338 | +€206,387 | +44.7% |
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 30 September 2026 via checked.be.