CALINRAVA: 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.
CALINRAVA
Largest movements
- Receivables within one year -€1.5m
down €1.5m (-52.4%), from €2.8m to €1.3m
of which Other amounts receivable: -€1.5m
- Current investments -€987,103
down €987,103 (-8.3%), from €11.9m to €10.9m
- Tangible fixed assets +€821,637
up €821,637 (+162.9%), from €504,439 to €1.3m
- Cash +€662,066
up €662,066 (+215.0%), from €307,869 to €969,935
mainly Receivables within one year (+€1.5m) and Current investments (+€987,103)
- Profit (loss) carried forward -€2.3m
down €2.3m (-21.3%), from €10.8m to €8.5m
- Short-term financial debts +€830,907
up €830,907 (+21.9%), from €3.8m to €4.6m
- Other debts +€466,667
up €466,667, from €0 to €466,667
- Financial charges -€424,356
down €424,356 (-14.9%), from €2.8m to €2.4m
of which Financial charges: -€424,356
- Financial income +€184,315
up €184,315 (+23.6%), from €780,978 to €965,293
of which Financial income: +€111,227
- Gross operating margin -€17,075
down €17,075 (-35.7%), from -€47,846 to -€64,921
- Taxes -€12,562
down €12,562 (-15.6%), from €80,637 to €68,074
- Depreciation -€3,172
down €3,172 (-11.6%), from €27,415 to €24,243
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 | €15,489,440 | €14,533,848 | -€955,592 | -6.2% |
| Fixed assets | 21/28 | €504,439 | €1,326,076 | +€821,637 | +162.9% |
| Tangible fixed assets | 22/27 | €504,439 | €1,326,076 | +€821,637 | +162.9% |
| Land and buildings | 22 | €504,439 | €1,326,076 | +€821,637 | +162.9% |
| Current assets | 29/58 | €14,985,002 | €13,207,772 | -€1.8m | -11.9% |
| Amounts receivable within one year | 40/41 | €2,780,372 | €1,324,100 | -€1.5m | -52.4% |
| Trade receivables | 40 | - | €1,115 | +€1,115 | |
| Other amounts receivable | 41 | €2,780,372 | €1,322,985 | -€1.5m | -52.4% |
| Current investments | 50/53 | €11,866,897 | €10,879,794 | -€987,103 | -8.3% |
| Cash at bank and in hand | 54/58 | €307,869 | €969,935 | +€662,066 | +215.0% |
| Deferred charges and accrued income | 490/1 | €29,863 | €33,943 | +€4,080 | +13.7% |
| Total equity and liabilities | 10/49 | €15,489,440 | €14,533,848 | -€955,592 | -6.2% |
| Equity | 10/15 | €11,481,289 | €9,177,709 | -€2.3m | -20.1% |
| Contributions | 10/11 | €605,153 | €605,153 | = | 0.0% |
| Reserves | 13 | €60,515 | €60,515 | = | 0.0% |
| Distributable reserves | 133 | €60,515 | €60,515 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,815,621 | €8,512,040 | -€2.3m | -21.3% |
| Amounts payable | 17/49 | €4,008,152 | €5,356,140 | +€1.3m | +33.6% |
| Amounts payable within one year | 42/48 | €3,969,145 | €5,327,574 | +€1.4m | +34.2% |
| Current portion of amounts payable after more than one year | 42 | €9,000 | €9,107 | +€107 | +1.2% |
| Financial debts | 43 | €3,800,000 | €4,630,907 | +€830,907 | +21.9% |
| Credit institutions | 430/8 | €3,800,000 | €4,630,907 | +€830,907 | +21.9% |
| Trade debts | 44 | - | €889 | +€889 | |
| Suppliers | 440/4 | - | €889 | +€889 | |
| Taxes, remuneration and social security | 45 | €160,145 | €220,004 | +€59,859 | +37.4% |
| Taxes | 450/3 | €160,145 | €220,004 | +€59,859 | +37.4% |
| Other amounts payable | 47/48 | €0 | €466,667 | +€466,667 | |
| Accrued charges and deferred income | 492/3 | €39,007 | €28,566 | -€10,441 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,415 | €24,243 | -€3,172 | -11.6% |
| Other operating charges | 640/8 | €29,279 | €27,989 | -€1,290 | -4.4% |
| Gross operating margin | 9900 | -€47,846 | -€64,921 | -€17,075 | -35.7% |
| Operating profit (loss) | 9901 | -€104,540 | -€117,154 | -€12,614 | -12.1% |
| Financial income | 75/76B | €780,978 | €965,293 | +€184,315 | +23.6% |
| Recurring financial income | 75 | €780,978 | €892,205 | +€111,227 | +14.2% |
| Non-recurring financial income | 76B | - | €73,088 | +€73,088 | |
| Financial charges | 65/66B | €2,841,335 | €2,416,979 | -€424,356 | -14.9% |
| Recurring financial charges | 65 | €2,841,335 | €2,416,979 | -€424,356 | -14.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€2,164,897 | -€1,568,839 | +€596,058 | +27.5% |
| Income taxes | 67/77 | €80,637 | €68,074 | -€12,562 | -15.6% |
| Profit (loss) for the period | 9904 | -€2,245,534 | -€1,636,914 | +€608,620 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,245,534 | -€1,636,914 | +€608,620 | +27.1% |
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 7 October 2026 via checked.be.