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
- Receivables within one year +€77,051
up €77,051 (+80.4%), from €95,877 to €172,928
of which Other amounts receivable: +€71,875
- Deferred charges and accrued income -€24,271
down €24,271 (-33.1%), from €73,253 to €48,982
- Cash +€5,481
new in 2025: €5,481
mainly Net result for the year (+€121,662) and Other debts (+€77,304)
- Intangible fixed assets -€5,000
down €5,000 (-15.0%), from €33,262 to €28,262
- Tangible fixed assets +€3,360
up €3,360 (+10.2%), from €32,854 to €36,214
of which Other tangible fixed assets: +€4,864
- Other debts +€77,304
up €77,304 (+174%), from €44,453 to €121,757
- Current portion of long-term debt -€40,247
down €40,247 (-69.2%), from €58,201 to €17,953
- Tax, wage and social debts +€14,048
up €14,048 (+147%), from €9,572 to €23,620
- Trade debts +€10,343
up €10,343 (+28.4%), from €36,372 to €46,716
- Short-term financial debts -€8,243
no longer reported in 2025 (was €8,243)
- Gross operating margin +€129,225
up €129,225 (+271%), from €47,628 to €176,854
- Taxes +€28,518
up €28,518 (+333%), from €8,567 to €37,086
- Financial charges -€3,045
down €3,045 (-39.3%), from €7,748 to €4,704
- Financial income -€2,180
down €2,180 (-38.6%), from €5,649 to €3,469
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 | €235,286 | €291,907 | +€56,621 | +24.1% |
| Fixed assets | 21/28 | €66,156 | €64,516 | -€1,640 | -2.5% |
| Intangible fixed assets | 21 | €33,262 | €28,262 | -€5,000 | -15.0% |
| Tangible fixed assets | 22/27 | €32,854 | €36,214 | +€3,360 | +10.2% |
| Plant, machinery and equipment | 23 | €18,070 | €18,569 | +€498 | +2.8% |
| Furniture and vehicles | 24 | €1,563 | €2,878 | +€1,315 | +84.1% |
| Leasing and similar rights | 25 | €13,220 | €9,904 | -€3,316 | -25.1% |
| Other tangible fixed assets | 26 | €0 | €4,864 | +€4,864 | |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €169,130 | €227,391 | +€58,261 | +34.4% |
| Amounts receivable within one year | 40/41 | €95,877 | €172,928 | +€77,051 | +80.4% |
| Trade receivables | 40 | €56,153 | €61,329 | +€5,176 | +9.2% |
| Other amounts receivable | 41 | €39,724 | €111,599 | +€71,875 | +181% |
| Cash at bank and in hand | 54/58 | - | €5,481 | +€5,481 | |
| Deferred charges and accrued income | 490/1 | €73,253 | €48,982 | -€24,271 | -33.1% |
| Total equity and liabilities | 10/49 | €235,286 | €291,907 | +€56,621 | +24.1% |
| Equity | 10/15 | €18,695 | €18,600 | -€95 | -0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €95 | - | -€95 | |
| Distributable reserves | 133 | €95 | - | -€95 | |
| Amounts payable | 17/49 | €216,591 | €273,307 | +€56,716 | +26.2% |
| Amounts payable after more than one year | 17 | €23,138 | €29,079 | +€5,941 | +25.7% |
| Financial debts | 170/4 | €23,138 | €29,079 | +€5,941 | +25.7% |
| Amounts payable within one year | 42/48 | €159,344 | €211,290 | +€51,946 | +32.6% |
| Current portion of amounts payable after more than one year | 42 | €58,201 | €17,953 | -€40,247 | -69.2% |
| Financial debts | 43 | €8,243 | - | -€8,243 | |
| Credit institutions | 430/8 | €8,243 | - | -€8,243 | |
| Trade debts | 44 | €36,372 | €46,716 | +€10,343 | +28.4% |
| Suppliers | 440/4 | €36,372 | €46,716 | +€10,343 | +28.4% |
| Advances received on contracts in progress | 46 | €2,503 | €1,244 | -€1,259 | -50.3% |
| Taxes, remuneration and social security | 45 | €9,572 | €23,620 | +€14,048 | +147% |
| Taxes | 450/3 | €9,572 | €23,620 | +€14,048 | +147% |
| Other amounts payable | 47/48 | €44,453 | €121,757 | +€77,304 | +174% |
| Accrued charges and deferred income | 492/3 | €34,109 | €32,938 | -€1,171 | -3.4% |
| Non-recurring operating income | 76A | - | €5,822 | +€5,822 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,633 | €15,321 | +€1,688 | +12.4% |
| Other operating charges | 640/8 | €652 | €1,080 | +€428 | +65.6% |
| Non-recurring operating charges | 66A | - | €470 | +€470 | |
| Gross operating margin | 9900 | €47,628 | €176,854 | +€129,225 | +271% |
| Operating profit (loss) | 9901 | €33,344 | €159,983 | +€126,639 | +380% |
| Financial income | 75/76B | €5,649 | €3,469 | -€2,180 | -38.6% |
| Recurring financial income | 75 | €5,649 | €3,469 | -€2,180 | -38.6% |
| Financial charges | 65/66B | €7,748 | €4,704 | -€3,045 | -39.3% |
| Recurring financial charges | 65 | €7,748 | €4,704 | -€3,045 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €31,245 | €158,748 | +€127,503 | +408% |
| Income taxes | 67/77 | €8,567 | €37,086 | +€28,518 | +333% |
| Profit (loss) for the period | 9904 | €22,677 | €121,662 | +€98,985 | +436% |
| Profit (loss) for the period to be appropriated | 9905 | €22,677 | €121,662 | +€98,985 | +436% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.