CALAGA: 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.
CALAGA
Largest movements
- Stocks and contracts +€7,365
up €7,365 (+32.2%), from €22,900 to €30,265
- Cash -€5,308
down €5,308 (-28.4%), from €18,692 to €13,384
mainly Investment in fixed assets (net) (-€14,511) and Debts after one year (-€11,025)
- Receivables within one year +€5,305
up €5,305 (+83.4%), from €6,361 to €11,666
of which Trade receivables: +€5,305
- Tangible fixed assets -€5,171
down €5,171 (-6.5%), from €79,926 to €74,755
of which Plant, machinery and equipment: -€6,838
- Debts after one year -€11,025
down €11,025 (-19.0%), from €58,002 to €46,977
- Reserves +€10,073
up €10,073 (+436.0%), from €2,310 to €12,383
- Investment grants +€2,902
new in 2025: €2,902
- Trade debts -€1,406
down €1,406 (-87.9%), from €1,600 to €194
- Gross operating margin +€9,607
up €9,607 (+30.7%), from €31,332 to €40,940
- Depreciation +€9,412
up €9,412 (+91.6%), from €10,270 to €19,682
- Other operating charges +€3,059
up €3,059 (+61.8%), from €4,947 to €8,006
- Financial charges +€2,848
up €2,848 (+225.7%), from €1,262 to €4,110
- Financial income +€2,347
up €2,347 (+397854.2%), from €1 to €2,348
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 | €127,878 | €130,070 | +€2,191 | +1.7% |
| Fixed assets | 21/28 | €79,926 | €74,755 | -€5,171 | -6.5% |
| Tangible fixed assets | 22/27 | €79,926 | €74,755 | -€5,171 | -6.5% |
| Plant, machinery and equipment | 23 | €70,028 | €63,190 | -€6,838 | -9.8% |
| Furniture and vehicles | 24 | €59 | €4,883 | +€4,824 | +8213.9% |
| Other tangible fixed assets | 26 | €9,839 | €6,682 | -€3,157 | -32.1% |
| Current assets | 29/58 | €47,953 | €55,315 | +€7,362 | +15.4% |
| Stocks and contracts in progress | 3 | €22,900 | €30,265 | +€7,365 | +32.2% |
| Stocks | 30/36 | €22,900 | €30,265 | +€7,365 | +32.2% |
| Amounts receivable within one year | 40/41 | €6,361 | €11,666 | +€5,305 | +83.4% |
| Trade receivables | 40 | €6,361 | €11,666 | +€5,305 | +83.4% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €18,692 | €13,384 | -€5,308 | -28.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €127,878 | €130,070 | +€2,191 | +1.7% |
| Equity | 10/15 | €26,310 | €39,285 | +€12,975 | +49.3% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €2,310 | €12,383 | +€10,073 | +436.0% |
| Distributable reserves | 133 | €2,310 | €12,383 | +€10,073 | +436.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | - | €2,902 | +€2,902 | |
| Amounts payable | 17/49 | €101,568 | €90,784 | -€10,784 | -10.6% |
| Amounts payable after more than one year | 17 | €58,002 | €46,977 | -€11,025 | -19.0% |
| Financial debts | 170/4 | €58,002 | €46,977 | -€11,025 | -19.0% |
| Amounts payable within one year | 42/48 | €43,552 | €43,794 | +€241 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €10,689 | €11,025 | +€337 | +3.1% |
| Trade debts | 44 | €1,600 | €194 | -€1,406 | -87.9% |
| Suppliers | 440/4 | €1,600 | €194 | -€1,406 | -87.9% |
| Taxes, remuneration and social security | 45 | €3,948 | €4,541 | +€594 | +15.0% |
| Taxes | 450/3 | €3,948 | €4,541 | +€594 | +15.0% |
| Other amounts payable | 47/48 | €27,315 | €28,033 | +€717 | +2.6% |
| Accrued charges and deferred income | 492/3 | €14 | €14 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,270 | €19,682 | +€9,412 | +91.6% |
| Other operating charges | 640/8 | €4,947 | €8,006 | +€3,059 | +61.8% |
| Gross operating margin | 9900 | €31,332 | €40,940 | +€9,607 | +30.7% |
| Operating profit (loss) | 9901 | €16,115 | €13,252 | -€2,863 | -17.8% |
| Financial income | 75/76B | €1 | €2,348 | +€2,347 | +397854.2% |
| Recurring financial income | 75 | €1 | €2,348 | +€2,347 | +397854.2% |
| Financial charges | 65/66B | €1,262 | €4,110 | +€2,848 | +225.7% |
| Recurring financial charges | 65 | €1,262 | €4,110 | +€2,848 | +225.7% |
| Profit (loss) for the period before taxes | 9903 | €14,854 | €11,490 | -€3,364 | -22.6% |
| Income taxes | 67/77 | - | €1,417 | +€1,417 | |
| Profit (loss) for the period | 9904 | €14,854 | €10,073 | -€4,781 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,854 | €10,073 | -€4,781 | -32.2% |
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 7 October 2026 via checked.be.