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 +€498,066
up €498,066 (+30.2%), from €1.6m to €2.1m
of which Land and buildings: +€397,957
- Current investments +€301,339
new in 2024: €301,339
- Cash -€254,607
down €254,607 (-50.4%), from €505,239 to €250,633
mainly Investment in fixed assets (net) (-€612,106) and Current investments (-€301,339)
- Receivables within one year -€58,628
down €58,628 (-52.5%), from €111,691 to €53,063
of which Other amounts receivable: -€35,659
- Reserves +€221,977
up €221,977 (+16.6%), from €1.3m to €1.6m
of which Distributable reserves: +€133,567
- Debts after one year +€195,110
up €195,110 (+33.8%), from €577,233 to €772,343
- Current portion of long-term debt +€89,904
up €89,904 (+83.5%), from €107,678 to €197,582
- Gross operating margin +€76,491
up €76,491 (+12.0%), from €635,869 to €712,360
- Depreciation +€43,144
up €43,144 (+61.4%), from €70,290 to €113,434
- Taxes -€7,567
down €7,567 (-4.2%), from €179,629 to €172,062
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,574,261 | €3,061,038 | +€486,777 | +18.9% |
| Fixed assets | 21/28 | €1,952,707 | €2,451,379 | +€498,673 | +25.5% |
| Tangible fixed assets | 22/27 | €1,647,239 | €2,145,305 | +€498,066 | +30.2% |
| Land and buildings | 22 | €1,596,493 | €1,994,450 | +€397,957 | +24.9% |
| Plant, machinery and equipment | 23 | €889 | €523 | -€367 | -41.2% |
| Furniture and vehicles | 24 | €5,625 | €118,077 | +€112,452 | +1999.1% |
| Other tangible fixed assets | 26 | €44,231 | €32,255 | -€11,976 | -27.1% |
| Financial fixed assets | 28 | €305,468 | €306,074 | +€606 | +0.2% |
| Current assets | 29/58 | €621,554 | €609,659 | -€11,896 | -1.9% |
| Amounts receivable within one year | 40/41 | €111,691 | €53,063 | -€58,628 | -52.5% |
| Trade receivables | 40 | €74,850 | €51,881 | -€22,969 | -30.7% |
| Other amounts receivable | 41 | €36,841 | €1,182 | -€35,659 | -96.8% |
| Current investments | 50/53 | - | €301,339 | +€301,339 | |
| Cash at bank and in hand | 54/58 | €505,239 | €250,633 | -€254,607 | -50.4% |
| Deferred charges and accrued income | 490/1 | €4,624 | €4,624 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €2,574,261 | €3,061,038 | +€486,777 | +18.9% |
| Equity | 10/15 | €1,764,238 | €1,986,214 | +€221,977 | +12.6% |
| Contributions | 10/11 | €270,000 | €270,000 | = | 0.0% |
| Reserves | 13 | €1,338,750 | €1,560,727 | +€221,977 | +16.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | - | €88,410 | +€88,410 | |
| Distributable reserves | 133 | €1,338,750 | €1,472,317 | +€133,567 | +10.0% |
| Profit (loss) carried forward | 14 | €155,487 | €155,487 | = | 0.0% |
| Amounts payable | 17/49 | €810,023 | €1,074,824 | +€264,800 | +32.7% |
| Amounts payable after more than one year | 17 | €577,233 | €772,343 | +€195,110 | +33.8% |
| Financial debts | 170/4 | €577,233 | €772,343 | +€195,110 | +33.8% |
| Amounts payable within one year | 42/48 | €229,925 | €302,481 | +€72,555 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €107,678 | €197,582 | +€89,904 | +83.5% |
| Trade debts | 44 | €831 | €874 | +€43 | +5.1% |
| Suppliers | 440/4 | €831 | €874 | +€43 | +5.1% |
| Taxes, remuneration and social security | 45 | €120,514 | €103,122 | -€17,392 | -14.4% |
| Taxes | 450/3 | €116,314 | €96,477 | -€19,837 | -17.1% |
| Remuneration and social security | 454/9 | €4,200 | €6,645 | +€2,445 | +58.2% |
| Other amounts payable | 47/48 | €903 | €903 | -€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,865 | €0 | -€2,865 | -100.0% |
| Remuneration, social security and pensions | 62 | €172 | €265 | +€93 | +53.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,290 | €113,434 | +€43,144 | +61.4% |
| Other operating charges | 640/8 | €9,855 | €10,079 | +€224 | +2.3% |
| Gross operating margin | 9900 | €635,869 | €712,360 | +€76,491 | +12.0% |
| Operating profit (loss) | 9901 | €555,552 | €588,582 | +€33,031 | +5.9% |
| Financial income | 75/76B | €5,192 | €5,910 | +€718 | +13.8% |
| Recurring financial income | 75 | €5,192 | €5,910 | +€718 | +13.8% |
| Financial charges | 65/66B | €11,773 | €12,247 | +€474 | +4.0% |
| Recurring financial charges | 65 | €11,773 | €12,247 | +€474 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €548,971 | €582,245 | +€33,274 | +6.1% |
| Income taxes | 67/77 | €179,629 | €172,062 | -€7,567 | -4.2% |
| Profit (loss) for the period | 9904 | €369,342 | €410,183 | +€40,841 | +11.1% |
| Transfer to tax-exempt reserves | 689 | - | €88,410 | +€88,410 | |
| Profit (loss) for the period to be appropriated | 9905 | €369,342 | €321,773 | -€47,569 | -12.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.