Caloritum: 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.
Caloritum
Largest movements
- Current investments -€1.5m
down €1.5m (-35.7%), from €4.2m to €2.7m
- Tangible fixed assets -€625,791
down €625,791 (-22.1%), from €2.8m to €2.2m
of which Plant, machinery and equipment: -€1.1m
- Receivables within one year -€490,191
down €490,191 (-20.0%), from €2.4m to €2.0m
- Intangible fixed assets +€397,972
up €397,972 (+20.5%), from €1.9m to €2.3m
- Profit (loss) carried forward -€1.5m
down €1.5m (-13.5%), from -€11.0m to -€12.4m
- Trade debts -€616,255
down €616,255 (-50.9%), from €1.2m to €593,945
- Investment grants -€292,000
down €292,000 (-10.9%), from €2.7m to €2.4m
- Gross operating margin +€695,271
up €695,271 (+58.3%), from -€1.2m to -€497,894
- Depreciation +€127,433
up €127,433 (+9.6%), from €1.3m to €1.4m
- Other operating charges -€33,143
down €33,143 (-50.4%), from €65,779 to €32,636
- Taxes -€24,559
new in 2025: -€24,559
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 | €19,770,562 | €17,380,097 | -€2.4m | -12.1% |
| Fixed assets | 21/28 | €12,430,124 | €12,202,305 | -€227,819 | -1.8% |
| Intangible fixed assets | 21 | €1,944,434 | €2,342,406 | +€397,972 | +20.5% |
| Tangible fixed assets | 22/27 | €2,835,690 | €2,209,899 | -€625,791 | -22.1% |
| Land and buildings | 22 | €64,401 | €44,160 | -€20,241 | -31.4% |
| Plant, machinery and equipment | 23 | €2,637,734 | €1,498,000 | -€1.1m | -43.2% |
| Furniture and vehicles | 24 | €17,551 | €10,031 | -€7,520 | -42.8% |
| Assets under construction and advance payments | 27 | €116,004 | €657,708 | +€541,704 | +467% |
| Financial fixed assets | 28 | €7,650,000 | €7,650,000 | = | 0.0% |
| Current assets | 29/58 | €7,340,437 | €5,177,792 | -€2.2m | -29.5% |
| Stocks and contracts in progress | 3 | €127,875 | €133,028 | +€5,153 | +4.0% |
| Stocks | 30/36 | €127,875 | €133,028 | +€5,153 | +4.0% |
| Amounts receivable within one year | 40/41 | €2,448,940 | €1,958,749 | -€490,191 | -20.0% |
| Other amounts receivable | 41 | €2,448,940 | €1,958,749 | -€490,191 | -20.0% |
| Current investments | 50/53 | €4,249,000 | €2,733,000 | -€1.5m | -35.7% |
| Cash at bank and in hand | 54/58 | €397,502 | €262,986 | -€134,516 | -33.8% |
| Deferred charges and accrued income | 490/1 | €117,120 | €90,029 | -€27,091 | -23.1% |
| Total equity and liabilities | 10/49 | €19,770,562 | €17,380,097 | -€2.4m | -12.1% |
| Equity | 10/15 | €16,560,362 | €14,786,152 | -€1.8m | -10.7% |
| Contributions | 10/11 | €24,823,551 | €24,823,551 | = | 0.0% |
| Capital | 10 | €3,657,837 | €3,657,837 | = | 0.0% |
| Issued capital | 100 | €3,657,837 | €3,657,837 | = | 0.0% |
| Contributions outside capital | 11 | €21,165,714 | €21,165,714 | = | 0.0% |
| Share premium | 1100/10 | €21,165,714 | €21,165,714 | = | 0.0% |
| Reserves | 13 | €10 | €10 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10 | €10 | = | 0.0% |
| Legal reserve | 130 | €10 | €10 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,952,489 | -€12,434,699 | -€1.5m | -13.5% |
| Investment grants | 15 | €2,689,290 | €2,397,290 | -€292,000 | -10.9% |
| Amounts payable | 17/49 | €3,210,199 | €2,593,945 | -€616,255 | -19.2% |
| Amounts payable after more than one year | 17 | €2,000,000 | €2,000,000 | = | 0.0% |
| Financial debts | 170/4 | €2,000,000 | €2,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,210,199 | €593,945 | -€616,255 | -50.9% |
| Trade debts | 44 | €1,210,199 | €593,945 | -€616,255 | -50.9% |
| Suppliers | 440/4 | €1,210,199 | €593,945 | -€616,255 | -50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,321,394 | €1,448,827 | +€127,433 | +9.6% |
| Other operating charges | 640/8 | €65,779 | €32,636 | -€33,143 | -50.4% |
| Gross operating margin | 9900 | -€1,193,165 | -€497,894 | +€695,271 | +58.3% |
| Operating profit (loss) | 9901 | -€2,580,338 | -€1,979,357 | +€600,981 | +23.3% |
| Financial income | 75/76B | €484,499 | €474,053 | -€10,445 | -2.2% |
| Recurring financial income | 75 | €484,499 | €474,053 | -€10,445 | -2.2% |
| Financial charges | 65/66B | €3,426 | €1,466 | -€1,960 | -57.2% |
| Recurring financial charges | 65 | €3,426 | €1,466 | -€1,960 | -57.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,099,265 | -€1,506,769 | +€592,496 | +28.2% |
| Income taxes | 67/77 | - | -€24,559 | -€24,559 | |
| Profit (loss) for the period | 9904 | -€2,099,265 | -€1,482,210 | +€617,055 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,099,265 | -€1,482,210 | +€617,055 | +29.4% |
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 17 October 2026 via checked.be.