CALGO: 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.
CALGO
Largest movements
- Cash +€18,690
up €18,690 (+18.2%), from €102,572 to €121,263
mainly Depreciation (+€14,472) and Net result for the year (+€7,638)
- Tangible fixed assets -€14,472
down €14,472 (-3.3%), from €441,017 to €426,545
of which Land and buildings: -€11,667
- Receivables within one year +€11,678
up €11,678 (+16.9%), from €69,211 to €80,889
of which Trade receivables: +€38,720
- Reserves +€7,638
up €7,638 (+5.3%), from €144,406 to €152,044
of which Distributable reserves: +€7,638
- Taxes +€10,617
up €10,617 (+96.1%), from €11,043 to €21,660
- Gross operating margin +€4,163
up €4,163 (+7.5%), from €55,194 to €59,358
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 | €613,386 | €629,287 | +€15,901 | +2.6% |
| Fixed assets | 21/28 | €441,017 | €426,545 | -€14,472 | -3.3% |
| Tangible fixed assets | 22/27 | €441,017 | €426,545 | -€14,472 | -3.3% |
| Land and buildings | 22 | €427,480 | €415,813 | -€11,667 | -2.7% |
| Plant, machinery and equipment | 23 | €13,537 | €10,732 | -€2,805 | -20.7% |
| Current assets | 29/58 | €172,369 | €202,741 | +€30,373 | +17.6% |
| Amounts receivable within one year | 40/41 | €69,211 | €80,889 | +€11,678 | +16.9% |
| Trade receivables | 40 | €0 | €38,720 | +€38,720 | |
| Other amounts receivable | 41 | €69,211 | €42,169 | -€27,042 | -39.1% |
| Cash at bank and in hand | 54/58 | €102,572 | €121,263 | +€18,690 | +18.2% |
| Deferred charges and accrued income | 490/1 | €586 | €590 | +€4 | +0.7% |
| Total equity and liabilities | 10/49 | €613,386 | €629,287 | +€15,901 | +2.6% |
| Equity | 10/15 | €209,624 | €217,262 | +€7,638 | +3.6% |
| Contributions | 10/11 | €9,433 | €9,433 | = | 0.0% |
| Reserves | 13 | €144,406 | €152,044 | +€7,638 | +5.3% |
| Tax-exempt reserves | 132 | €42,502 | €42,502 | = | 0.0% |
| Distributable reserves | 133 | €101,904 | €109,542 | +€7,638 | +7.5% |
| Profit (loss) carried forward | 14 | €55,785 | €55,785 | = | 0.0% |
| Provisions and deferred taxes | 16 | €75,000 | €75,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €75,000 | €75,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable | 17/49 | €328,761 | €337,024 | +€8,263 | +2.5% |
| Amounts payable after more than one year | 17 | €254,984 | €254,984 | = | 0.0% |
| Other amounts payable | 178/9 | €254,984 | €254,984 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,320 | €41,562 | +€3,242 | +8.5% |
| Trade debts | 44 | €28,676 | €25,992 | -€2,684 | -9.4% |
| Suppliers | 440/4 | €28,676 | €25,992 | -€2,684 | -9.4% |
| Taxes, remuneration and social security | 45 | €280 | €5,080 | +€4,800 | +1711.9% |
| Taxes | 450/3 | €280 | €5,080 | +€4,800 | +1711.9% |
| Other amounts payable | 47/48 | €9,363 | €10,490 | +€1,127 | +12.0% |
| Accrued charges and deferred income | 492/3 | €35,458 | €40,478 | +€5,020 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,472 | €14,472 | = | 0.0% |
| Other operating charges | 640/8 | €10,067 | €10,384 | +€317 | +3.1% |
| Gross operating margin | 9900 | €55,194 | €59,358 | +€4,163 | +7.5% |
| Operating profit (loss) | 9901 | €30,656 | €34,502 | +€3,847 | +12.5% |
| Financial income | 75/76B | €28 | €0 | -€28 | -100.0% |
| Recurring financial income | 75 | €28 | €0 | -€28 | -100.0% |
| Financial charges | 65/66B | €5,461 | €5,204 | -€257 | -4.7% |
| Recurring financial charges | 65 | €5,461 | €5,204 | -€257 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €25,223 | €29,298 | +€4,075 | +16.2% |
| Income taxes | 67/77 | €11,043 | €21,660 | +€10,617 | +96.1% |
| Profit (loss) for the period | 9904 | €14,180 | €7,638 | -€6,542 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,180 | €7,638 | -€6,542 | -46.1% |
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 5 October 2026 via checked.be.