CADELPA: 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.
CADELPA
Largest movements
- Intangible fixed assets -€11,355
down €11,355 (-12.5%), from €90,843 to €79,488
- Current investments -€8,500
down €8,500 (-7.8%), from €109,100 to €100,600
- Tangible fixed assets -€8,199
down €8,199 (-41.9%), from €19,553 to €11,354
- Cash +€6,644
up €6,644 (+60.4%), from €11,009 to €17,652
mainly Depreciation (+€21,587) and Current investments (+€8,500)
- Profit (loss) carried forward -€24,353
down €24,353 (-10.6%), from €229,928 to €205,575
- Depreciation -€33,262
down €33,262 (-60.6%), from €54,849 to €21,587
- Gross operating margin -€20,926
down €20,926 (-97.0%), from €21,565 to €639
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 | €238,865 | €218,058 | -€20,807 | -8.7% |
| Fixed assets | 21/28 | €110,396 | €90,842 | -€19,554 | -17.7% |
| Intangible fixed assets | 21 | €90,843 | €79,488 | -€11,355 | -12.5% |
| Tangible fixed assets | 22/27 | €19,553 | €11,354 | -€8,199 | -41.9% |
| Furniture and vehicles | 24 | €19,553 | €11,354 | -€8,199 | -41.9% |
| Current assets | 29/58 | €128,469 | €127,216 | -€1,253 | -1.0% |
| Amounts receivable within one year | 40/41 | €6,261 | €7,077 | +€816 | +13.0% |
| Trade receivables | 40 | €5,804 | €6,527 | +€723 | +12.5% |
| Other amounts receivable | 41 | €457 | €550 | +€93 | +20.4% |
| Current investments | 50/53 | €109,100 | €100,600 | -€8,500 | -7.8% |
| Cash at bank and in hand | 54/58 | €11,009 | €17,652 | +€6,644 | +60.4% |
| Deferred charges and accrued income | 490/1 | €2,099 | €1,887 | -€213 | -10.1% |
| Total equity and liabilities | 10/49 | €238,865 | €218,058 | -€20,807 | -8.7% |
| Equity | 10/15 | €231,788 | €207,435 | -€24,353 | -10.5% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €229,928 | €205,575 | -€24,353 | -10.6% |
| Amounts payable | 17/49 | €7,077 | €10,623 | +€3,546 | +50.1% |
| Amounts payable within one year | 42/48 | €3,554 | €6,896 | +€3,342 | +94.0% |
| Trade debts | 44 | €269 | €810 | +€541 | +201.1% |
| Suppliers | 440/4 | €269 | €810 | +€541 | +201.1% |
| Taxes, remuneration and social security | 45 | €155 | €1,379 | +€1,224 | +787.5% |
| Taxes | 450/3 | €155 | €1,379 | +€1,224 | +787.5% |
| Other amounts payable | 47/48 | €3,130 | €4,707 | +€1,577 | +50.4% |
| Accrued charges and deferred income | 492/3 | €3,523 | €3,727 | +€204 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,849 | €21,587 | -€33,262 | -60.6% |
| Other operating charges | 640/8 | €2,708 | €2,793 | +€85 | +3.1% |
| Gross operating margin | 9900 | €21,565 | €639 | -€20,926 | -97.0% |
| Operating profit (loss) | 9901 | -€35,992 | -€23,741 | +€12,251 | +34.0% |
| Financial income | 75/76B | €209 | €65 | -€144 | -68.8% |
| Recurring financial income | 75 | €209 | €65 | -€144 | -68.8% |
| Financial charges | 65/66B | €204 | €208 | +€4 | +1.8% |
| Recurring financial charges | 65 | €204 | €208 | +€4 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€35,987 | -€23,883 | +€12,103 | +33.6% |
| Income taxes | 67/77 | €422 | €470 | +€47 | +11.2% |
| Profit (loss) for the period | 9904 | -€36,409 | -€24,353 | +€12,056 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,409 | -€24,353 | +€12,056 | +33.1% |
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 3 October 2026 via checked.be.