CALADOR: 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.
CALADOR
Largest movements
- Financial fixed assets +€1.6m
new in 2025: €1.6m
- Tangible fixed assets +€1.5m
up €1.5m (+281%), from €536,726 to €2.0m
of which Land and buildings: +€1.5m
- Receivables within one year +€391,457
up €391,457 (+103,423%), from €379 to €391,836
of which Trade receivables: +€241,900
- Revaluation surpluses +€1.6m
new in 2025: €1.6m
- Current portion of long-term debt +€1.0m
up €1.0m (+10,880%), from €9,563 to €1.1m
- Debts after one year +€628,558
up €628,558 (+273%), from €230,581 to €859,138
- Reserves +€103,332
up €103,332 (+263%), from €39,277 to €142,609
of which Tax-exempt reserves: +€140,417
- Provisions +€46,806
new in 2025: €46,806
- Gross operating margin +€564,333
up €564,333 (+644%), from €87,606 to €651,939
- Taxes +€21,685
up €21,685 (+225%), from €9,622 to €31,307
- Financial charges +€19,101
up €19,101 (+188%), from €10,171 to €29,272
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 | €546,525 | €4,016,493 | +€3.5m | +635% |
| Fixed assets | 21/28 | €536,726 | €3,620,000 | +€3.1m | +574% |
| Tangible fixed assets | 22/27 | €536,726 | €2,045,000 | +€1.5m | +281% |
| Land and buildings | 22 | €522,206 | €2,045,000 | +€1.5m | +292% |
| Plant, machinery and equipment | 23 | €14,519 | - | -€14,519 | |
| Financial fixed assets | 28 | - | €1,575,000 | +€1.6m | |
| Current assets | 29/58 | €9,799 | €396,493 | +€386,694 | +3,946% |
| Amounts receivable within one year | 40/41 | €379 | €391,836 | +€391,457 | +103,423% |
| Trade receivables | 40 | - | €241,900 | +€241,900 | |
| Other amounts receivable | 41 | €379 | €149,935 | +€149,557 | +39,513% |
| Cash at bank and in hand | 54/58 | €5,371 | €246 | -€5,125 | -95.4% |
| Deferred charges and accrued income | 490/1 | €4,050 | €4,412 | +€362 | +8.9% |
| Total equity and liabilities | 10/49 | €546,525 | €4,016,493 | +€3.5m | +635% |
| Equity | 10/15 | €298,837 | €2,008,037 | +€1.7m | +572% |
| Contributions | 10/11 | €259,560 | €259,560 | = | 0.0% |
| Capital | 10 | €259,560 | €259,560 | = | 0.0% |
| Issued capital | 100 | €259,560 | €259,560 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,604,283 | +€1.6m | |
| Reserves | 13 | €39,277 | €142,609 | +€103,332 | +263% |
| Non-distributable reserves | 130/1 | €2,192 | €2,192 | = | 0.0% |
| Legal reserve | 130 | €2,192 | €2,192 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €140,417 | +€140,417 | |
| Distributable reserves | 133 | €37,085 | - | -€37,085 | |
| Profit (loss) carried forward | 14 | - | €1,584 | +€1,584 | |
| Provisions and deferred taxes | 16 | - | €46,806 | +€46,806 | |
| Deferred taxes | 168 | - | €46,806 | +€46,806 | |
| Amounts payable | 17/49 | €247,688 | €1,961,651 | +€1.7m | +692% |
| Amounts payable after more than one year | 17 | €230,581 | €859,138 | +€628,558 | +273% |
| Financial debts | 170/4 | €230,581 | €859,138 | +€628,558 | +273% |
| Amounts payable within one year | 42/48 | €14,437 | €1,102,513 | +€1.1m | +7,537% |
| Current portion of amounts payable after more than one year | 42 | €9,563 | €1,050,000 | +€1.0m | +10,880% |
| Trade debts | 44 | €4,874 | €21,002 | +€16,128 | +331% |
| Suppliers | 440/4 | €4,874 | €21,002 | +€16,128 | +331% |
| Taxes, remuneration and social security | 45 | €0 | €31,307 | +€31,307 | |
| Taxes | 450/3 | €0 | €31,307 | +€31,307 | |
| Other amounts payable | 47/48 | €0 | €204 | +€204 | |
| Accrued charges and deferred income | 492/3 | €2,670 | - | -€2,670 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,586 | €41,694 | +€109 | +0.3% |
| Other operating charges | 640/8 | €11,471 | €13,041 | +€1,570 | +13.7% |
| Gross operating margin | 9900 | €87,606 | €651,939 | +€564,333 | +644% |
| Operating profit (loss) | 9901 | €34,548 | €597,203 | +€562,655 | +1,629% |
| Financial income | 75/76B | - | €97 | +€97 | |
| Recurring financial income | 75 | - | €97 | +€97 | |
| Financial charges | 65/66B | €10,171 | €29,272 | +€19,101 | +188% |
| Recurring financial charges | 65 | €10,171 | €29,272 | +€19,101 | +188% |
| Profit (loss) for the period before taxes | 9903 | €24,377 | €568,029 | +€543,652 | +2,230% |
| Transfer to deferred taxes | 680 | - | €46,806 | +€46,806 | |
| Income taxes | 67/77 | €9,622 | €31,307 | +€21,685 | +225% |
| Profit (loss) for the period | 9904 | €14,755 | €489,916 | +€475,161 | +3,220% |
| Transfer to tax-exempt reserves | 689 | - | €140,417 | +€140,417 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,755 | €349,499 | +€334,744 | +2,269% |
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 15 October 2026 via checked.be.