CALO: 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.
CALO
Largest movements
- Cash +€22,148
up €22,148 (+160%), from €13,802 to €35,950
mainly Current portion of long-term debt (+€25,000) and Net result for the year (+€11,148)
- Receivables within one year -€7,173
down €7,173 (-18.2%), from €39,313 to €32,141
of which Trade receivables: -€8,806
- Stocks and contracts +€2,093
up €2,093 (+4.7%), from €44,940 to €47,033
- Debts after one year -€25,000
no longer reported in 2025 (was €25,000)
- Current portion of long-term debt +€25,000
new in 2025: €25,000
- Profit (loss) carried forward +€11,148
up €11,148 (+32.6%), from -€34,204 to -€23,056
- Other debts +€7,123
up €7,123 (+38.6%), from €18,451 to €25,574
- Gross operating margin +€23,878
up €23,878 (+1,010%), from €2,365 to €26,243
- Other operating charges +€9,258
up €9,258 (+2,355%), from €393 to €9,651
- Depreciation -€632
down €632 (-66.7%), from €948 to €316
- Financial charges -€525
down €525 (-9.5%), from €5,514 to €4,989
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 | €98,372 | €115,124 | +€16,752 | +17.0% |
| Fixed assets | 21/28 | €316 | €0 | -€316 | -100% |
| Tangible fixed assets | 22/27 | €316 | €0 | -€316 | -100% |
| Plant, machinery and equipment | 23 | €316 | €0 | -€316 | -100% |
| Current assets | 29/58 | €98,056 | €115,124 | +€17,068 | +17.4% |
| Stocks and contracts in progress | 3 | €44,940 | €47,033 | +€2,093 | +4.7% |
| Stocks | 30/36 | €44,940 | €47,033 | +€2,093 | +4.7% |
| Amounts receivable within one year | 40/41 | €39,313 | €32,141 | -€7,173 | -18.2% |
| Trade receivables | 40 | €38,758 | €29,952 | -€8,806 | -22.7% |
| Other amounts receivable | 41 | €555 | €2,189 | +€1,633 | +294% |
| Cash at bank and in hand | 54/58 | €13,802 | €35,950 | +€22,148 | +160% |
| Total equity and liabilities | 10/49 | €98,372 | €115,124 | +€16,752 | +17.0% |
| Equity | 10/15 | €45,796 | €56,944 | +€11,148 | +24.3% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,204 | -€23,056 | +€11,148 | +32.6% |
| Amounts payable | 17/49 | €52,575 | €58,180 | +€5,605 | +10.7% |
| Amounts payable after more than one year | 17 | €25,000 | - | -€25,000 | |
| Financial debts | 170/4 | €25,000 | - | -€25,000 | |
| Amounts payable within one year | 42/48 | €27,575 | €58,180 | +€30,605 | +111% |
| Current portion of amounts payable after more than one year | 42 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €5,978 | €4,942 | -€1,036 | -17.3% |
| Suppliers | 440/4 | €5,978 | €4,942 | -€1,036 | -17.3% |
| Advances received on contracts in progress | 46 | €503 | - | -€503 | |
| Taxes, remuneration and social security | 45 | €2,643 | €2,664 | +€21 | +0.8% |
| Taxes | 450/3 | €2,643 | €2,664 | +€21 | +0.8% |
| Other amounts payable | 47/48 | €18,451 | €25,574 | +€7,123 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €948 | €316 | -€632 | -66.7% |
| Other operating charges | 640/8 | €393 | €9,651 | +€9,258 | +2,355% |
| Gross operating margin | 9900 | €2,365 | €26,243 | +€23,878 | +1,010% |
| Operating profit (loss) | 9901 | €1,024 | €16,276 | +€15,252 | +1,489% |
| Financial income | 75/76B | €0 | €6 | +€6 | +1,839% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +1,839% |
| Financial charges | 65/66B | €5,514 | €4,989 | -€525 | -9.5% |
| Recurring financial charges | 65 | €5,514 | €4,989 | -€525 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,490 | €11,293 | +€15,783 | |
| Income taxes | 67/77 | €140 | €146 | +€6 | +4.3% |
| Profit (loss) for the period | 9904 | -€4,629 | €11,148 | +€15,777 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,629 | €11,148 | +€15,777 |
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 14 October 2026 via checked.be.