CALEO: 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.
CALEO
Largest movements
- Tangible fixed assets -€25,258
down €25,258 (-24.3%), from €103,948 to €78,690
- Intangible fixed assets -€23,397
down €23,397 (-15.7%), from €149,385 to €125,988
- Debts after one year -€76,616
down €76,616 (-25.7%), from €297,586 to €220,970
of which Financial debts: -€80,000
- Reserves +€36,208
up €36,208 (+94.1%), from €38,482 to €74,690
- Tax, wage and social debts -€8,441
down €8,441 (-17.9%), from €47,225 to €38,784
of which Taxes: -€16,451
- Investment grants -€5,606
down €5,606 (-34.1%), from €16,426 to €10,820
- Staff costs +€44,736
up €44,736 (+23.5%), from €190,070 to €234,806
- Gross operating margin +€37,373
up €37,373 (+12.4%), from €302,062 to €339,435
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 | €369,295 | €314,840 | -€54,455 | -14.7% |
| Fixed assets | 21/28 | €253,333 | €204,678 | -€48,655 | -19.2% |
| Intangible fixed assets | 21 | €149,385 | €125,988 | -€23,397 | -15.7% |
| Tangible fixed assets | 22/27 | €103,948 | €78,690 | -€25,258 | -24.3% |
| Land and buildings | 22 | €31,754 | €27,320 | -€4,434 | -14.0% |
| Plant, machinery and equipment | 23 | €46,640 | €35,505 | -€11,135 | -23.9% |
| Furniture and vehicles | 24 | €25,554 | €15,865 | -€9,689 | -37.9% |
| Current assets | 29/58 | €115,962 | €110,162 | -€5,800 | -5.0% |
| Stocks and contracts in progress | 3 | €3,858 | €4,106 | +€248 | +6.4% |
| Stocks | 30/36 | €3,858 | €4,106 | +€248 | +6.4% |
| Amounts receivable within one year | 40/41 | €17,610 | €14,416 | -€3,194 | -18.1% |
| Trade receivables | 40 | €15,470 | €4,809 | -€10,661 | -68.9% |
| Other amounts receivable | 41 | €2,140 | €9,607 | +€7,467 | +348.9% |
| Cash at bank and in hand | 54/58 | €94,494 | €91,640 | -€2,854 | -3.0% |
| Total equity and liabilities | 10/49 | €369,295 | €314,840 | -€54,455 | -14.7% |
| Equity | 10/15 | €24,484 | €55,086 | +€30,602 | +125.0% |
| Reserves | 13 | €38,482 | €74,690 | +€36,208 | +94.1% |
| Distributable reserves | 133 | €38,482 | €74,690 | +€36,208 | +94.1% |
| Profit (loss) carried forward | 14 | -€30,424 | -€30,424 | = | 0.0% |
| Investment grants | 15 | €16,426 | €10,820 | -€5,606 | -34.1% |
| Amounts payable | 17/49 | €344,811 | €259,754 | -€85,057 | -24.7% |
| Amounts payable after more than one year | 17 | €297,586 | €220,970 | -€76,616 | -25.7% |
| Financial debts | 170/4 | €254,000 | €174,000 | -€80,000 | -31.5% |
| Trade debts | 175 | €43,586 | €46,970 | +€3,384 | +7.8% |
| Amounts payable within one year | 42/48 | €47,225 | €38,784 | -€8,441 | -17.9% |
| Taxes, remuneration and social security | 45 | €47,225 | €38,784 | -€8,441 | -17.9% |
| Taxes | 450/3 | €32,216 | €15,765 | -€16,451 | -51.1% |
| Remuneration and social security | 454/9 | €15,009 | €23,019 | +€8,010 | +53.4% |
| Remuneration, social security and pensions | 62 | €190,070 | €234,806 | +€44,736 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,323 | €52,733 | -€1,590 | -2.9% |
| Other operating charges | 640/8 | €3,252 | €666 | -€2,586 | -79.5% |
| Gross operating margin | 9900 | €302,062 | €339,435 | +€37,373 | +12.4% |
| Operating profit (loss) | 9901 | €54,417 | €51,230 | -€3,187 | -5.9% |
| Financial income | 75/76B | €5,613 | €5,623 | +€10 | +0.2% |
| Recurring financial income | 75 | €5,613 | €5,623 | +€10 | +0.2% |
| Financial charges | 65/66B | €6,182 | €7,150 | +€968 | +15.7% |
| Recurring financial charges | 65 | €6,182 | €7,150 | +€968 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €53,848 | €49,703 | -€4,145 | -7.7% |
| Income taxes | 67/77 | €15,366 | €13,495 | -€1,871 | -12.2% |
| Profit (loss) for the period | 9904 | €38,482 | €36,208 | -€2,274 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,482 | €36,208 | -€2,274 | -5.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.