CADRALU: 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.
CADRALU
Largest movements
- Receivables within one year -€61,177
down €61,177 (-19.4%), from €315,811 to €254,634
of which Trade receivables: -€52,588
- Tangible fixed assets -€52,052
down €52,052 (-13.3%), from €392,557 to €340,505
of which Plant, machinery and equipment: -€43,635
- Stocks and contracts +€37,372
up €37,372 (+24.3%), from €153,752 to €191,124
- Cash -€14,061
down €14,061 (-39.8%), from €35,293 to €21,231
mainly Debts after one year (-€59,203) and Stocks and contracts (-€37,372)
- Debts after one year -€59,203
down €59,203 (-18.4%), from €321,871 to €262,668
- Other debts -€29,209
down €29,209 (-92.3%), from €31,637 to €2,428
- Short-term financial debts +€24,000
new in 2025: €24,000
- Current portion of long-term debt -€16,475
down €16,475 (-26.2%), from €62,958 to €46,483
- Accrued charges and deferred income -€14,791
no longer reported in 2025 (was €14,791)
- Gross operating margin -€106,463
down €106,463 (-17.9%), from €594,429 to €487,966
- Staff costs -€27,660
down €27,660 (-6.9%), from €400,822 to €373,162
- Taxes -€13,677
down €13,677 (-56.4%), from €24,236 to €10,559
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.
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 | €932,462 | €835,050 | -€97,412 | -10.4% |
| Fixed assets | 21/28 | €392,731 | €340,680 | -€52,052 | -13.3% |
| Tangible fixed assets | 22/27 | €392,557 | €340,505 | -€52,052 | -13.3% |
| Plant, machinery and equipment | 23 | €357,480 | €313,845 | -€43,635 | -12.2% |
| Furniture and vehicles | 24 | €14,805 | €13,678 | -€1,127 | -7.6% |
| Leasing and similar rights | 25 | €20,272 | €12,982 | -€7,290 | -36.0% |
| Financial fixed assets | 28 | €174 | €174 | = | 0.0% |
| Current assets | 29/58 | €539,731 | €494,371 | -€45,361 | -8.4% |
| Stocks and contracts in progress | 3 | €153,752 | €191,124 | +€37,372 | +24.3% |
| Stocks | 30/36 | €153,752 | €191,124 | +€37,372 | +24.3% |
| Amounts receivable within one year | 40/41 | €315,811 | €254,634 | -€61,177 | -19.4% |
| Trade receivables | 40 | €298,313 | €245,725 | -€52,588 | -17.6% |
| Other amounts receivable | 41 | €17,499 | €8,909 | -€8,589 | -49.1% |
| Cash at bank and in hand | 54/58 | €35,293 | €21,231 | -€14,061 | -39.8% |
| Deferred charges and accrued income | 490/1 | €34,875 | €27,381 | -€7,495 | -21.5% |
| Total equity and liabilities | 10/49 | €932,462 | €835,050 | -€97,412 | -10.4% |
| Equity | 10/15 | €216,869 | €227,805 | +€10,936 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €196,409 | €207,345 | +€10,936 | +5.6% |
| Amounts payable | 17/49 | €715,594 | €607,245 | -€108,349 | -15.1% |
| Amounts payable after more than one year | 17 | €321,871 | €262,668 | -€59,203 | -18.4% |
| Financial debts | 170/4 | €321,871 | €262,668 | -€59,203 | -18.4% |
| Amounts payable within one year | 42/48 | €378,932 | €344,577 | -€34,355 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €62,958 | €46,483 | -€16,475 | -26.2% |
| Financial debts | 43 | - | €24,000 | +€24,000 | |
| Credit institutions | 430/8 | - | €24,000 | +€24,000 | |
| Trade debts | 44 | €239,985 | €227,731 | -€12,253 | -5.1% |
| Suppliers | 440/4 | €239,985 | €227,731 | -€12,253 | -5.1% |
| Taxes, remuneration and social security | 45 | €44,352 | €43,935 | -€417 | -0.9% |
| Taxes | 450/3 | €5,250 | €7,672 | +€2,422 | +46.1% |
| Remuneration and social security | 454/9 | €39,102 | €36,263 | -€2,839 | -7.3% |
| Other amounts payable | 47/48 | €31,637 | €2,428 | -€29,209 | -92.3% |
| Accrued charges and deferred income | 492/3 | €14,791 | - | -€14,791 | |
| Non-recurring operating income | 76A | €16,848 | €38,694 | +€21,846 | +130% |
| Remuneration, social security and pensions | 62 | €400,822 | €373,162 | -€27,660 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,576 | €62,847 | +€2,271 | +3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,334 | €2,795 | -€538 | -16.2% |
| Other operating charges | 640/8 | €6,753 | €1,902 | -€4,851 | -71.8% |
| Non-recurring operating charges | 66A | €10,997 | €5,251 | -€5,746 | -52.3% |
| Gross operating margin | 9900 | €594,429 | €487,966 | -€106,463 | -17.9% |
| Operating profit (loss) | 9901 | €111,948 | €42,009 | -€69,939 | -62.5% |
| Financial income | 75/76B | €425 | €190 | -€235 | -55.2% |
| Recurring financial income | 75 | €425 | €190 | -€235 | -55.2% |
| Financial charges | 65/66B | €17,930 | €20,703 | +€2,773 | +15.5% |
| Recurring financial charges | 65 | €17,930 | €20,703 | +€2,773 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | €94,442 | €21,496 | -€72,946 | -77.2% |
| Income taxes | 67/77 | €24,236 | €10,559 | -€13,677 | -56.4% |
| Profit (loss) for the period | 9904 | €70,206 | €10,936 | -€59,270 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,206 | €10,936 | -€59,270 | -84.4% |
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 17 October 2026 via checked.be.