CALCO: 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.
CALCO
Largest movements
- Cash +€198,962
up €198,962 (+382%), from €52,153 to €251,115
mainly Net result for the year (+€120,202) and Other debts (+€105,010)
- Receivables within one year +€80,195
up €80,195 (+42.1%), from €190,325 to €270,520
of which Trade receivables: +€74,754
- Tangible fixed assets -€23,575
down €23,575 (-8.3%), from €285,149 to €261,573
of which Furniture and vehicles: -€15,525
- Reserves +€120,202
up €120,202 (+34.4%), from €349,027 to €469,228
of which Distributable reserves: +€120,202
- Other debts +€105,010
up €105,010 (+45.2%), from €232,236 to €337,246
- Trade debts +€48,618
up €48,618 (+1,132%), from €4,296 to €52,914
- Provisions -€29,131
down €29,131 (-2.9%), from €1.0m to €970,869
- Tax, wage and social debts +€25,547
up €25,547 (+73.9%), from €34,561 to €60,108
- Gross operating margin +€120,320
up €120,320 (+80.0%), from €150,306 to €270,626
- Financial charges +€114,755
up €114,755 (+2,786%), from €4,119 to €118,873
- Provisions -€29,131
new in 2025: -€29,131
- Depreciation -€21,461
down €21,461 (-47.7%), from €45,037 to €23,575
- Taxes +€13,599
up €13,599 (+53.8%), from €25,281 to €38,880
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 | €1,706,136 | €1,979,240 | +€273,103 | +16.0% |
| Fixed assets | 21/28 | €1,392,315 | €1,368,740 | -€23,575 | -1.7% |
| Tangible fixed assets | 22/27 | €285,149 | €261,573 | -€23,575 | -8.3% |
| Land and buildings | 22 | €235,551 | €228,015 | -€7,536 | -3.2% |
| Plant, machinery and equipment | 23 | €769 | €254 | -€515 | -67.0% |
| Furniture and vehicles | 24 | €48,829 | €33,304 | -€15,525 | -31.8% |
| Financial fixed assets | 28 | €1,107,166 | €1,107,166 | = | 0.0% |
| Current assets | 29/58 | €313,821 | €610,500 | +€296,679 | +94.5% |
| Amounts receivable within one year | 40/41 | €190,325 | €270,520 | +€80,195 | +42.1% |
| Trade receivables | 40 | €189,616 | €264,370 | +€74,754 | +39.4% |
| Other amounts receivable | 41 | €709 | €6,150 | +€5,441 | +767% |
| Current investments | 50/53 | €69,537 | €87,330 | +€17,793 | +25.6% |
| Cash at bank and in hand | 54/58 | €52,153 | €251,115 | +€198,962 | +382% |
| Deferred charges and accrued income | 490/1 | €1,807 | €1,535 | -€272 | -15.0% |
| Total equity and liabilities | 10/49 | €1,706,136 | €1,979,240 | +€273,103 | +16.0% |
| Equity | 10/15 | €361,427 | €487,778 | +€126,352 | +35.0% |
| Contributions | 10/11 | €12,400 | €18,550 | +€6,150 | +49.6% |
| Reserves | 13 | €349,027 | €469,228 | +€120,202 | +34.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €349,027 | €469,228 | +€120,202 | +34.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €1,000,000 | €970,869 | -€29,131 | -2.9% |
| Provisions for liabilities and charges | 160/5 | €1,000,000 | €970,869 | -€29,131 | -2.9% |
| Other liabilities and charges | 164/5 | €1,000,000 | €970,869 | -€29,131 | -2.9% |
| Amounts payable | 17/49 | €344,709 | €520,592 | +€175,883 | +51.0% |
| Amounts payable after more than one year | 17 | €54,120 | €37,240 | -€16,880 | -31.2% |
| Financial debts | 170/4 | €54,120 | €37,240 | -€16,880 | -31.2% |
| Amounts payable within one year | 42/48 | €287,531 | €467,148 | +€179,617 | +62.5% |
| Current portion of amounts payable after more than one year | 42 | €16,438 | €16,880 | +€443 | +2.7% |
| Trade debts | 44 | €4,296 | €52,914 | +€48,618 | +1,132% |
| Suppliers | 440/4 | €4,296 | €52,914 | +€48,618 | +1,132% |
| Taxes, remuneration and social security | 45 | €34,561 | €60,108 | +€25,547 | +73.9% |
| Taxes | 450/3 | €34,561 | €60,108 | +€25,547 | +73.9% |
| Other amounts payable | 47/48 | €232,236 | €337,246 | +€105,010 | +45.2% |
| Accrued charges and deferred income | 492/3 | €3,058 | €16,204 | +€13,146 | +430% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,037 | €23,575 | -€21,461 | -47.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€29,131 | -€29,131 | |
| Other operating charges | 640/8 | €1,679 | €2,595 | +€917 | +54.6% |
| Gross operating margin | 9900 | €150,306 | €270,626 | +€120,320 | +80.0% |
| Operating profit (loss) | 9901 | €103,591 | €273,586 | +€169,995 | +164% |
| Financial income | 75/76B | €309 | €4,369 | +€4,060 | +1,316% |
| Recurring financial income | 75 | €309 | €4,369 | +€4,060 | +1,316% |
| Financial charges | 65/66B | €4,119 | €118,873 | +€114,755 | +2,786% |
| Recurring financial charges | 65 | €4,119 | €118,873 | +€114,755 | +2,786% |
| Profit (loss) for the period before taxes | 9903 | €99,781 | €159,082 | +€59,301 | +59.4% |
| Income taxes | 67/77 | €25,281 | €38,880 | +€13,599 | +53.8% |
| Profit (loss) for the period | 9904 | €74,500 | €120,202 | +€45,702 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,500 | €120,202 | +€45,702 | +61.3% |
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 30 October 2026 via checked.be.