CALPOL: 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.
CALPOL
Largest movements
- Stocks and contracts -€225,973
down €225,973 (-12.2%), from €1.8m to €1.6m
- Receivables within one year +€143,447
up €143,447 (+35.8%), from €400,206 to €543,653
of which Trade receivables: +€114,717
- Tangible fixed assets -€78,103
down €78,103 (-25.0%), from €312,975 to €234,872
of which Plant, machinery and equipment: -€72,063
- Cash -€30,013
down €30,013 (-40.1%), from €74,919 to €44,906
mainly Receivables within one year (-€143,447) and Trade debts (-€121,136)
- Trade debts -€121,136
down €121,136 (-14.9%), from €812,497 to €691,362
- Debts after one year -€45,869
down €45,869 (-24.2%), from €189,880 to €144,010
- Current portion of long-term debt -€27,643
down €27,643 (-37.6%), from €73,512 to €45,869
- Gross operating margin -€32,537
down €32,537 (-3.3%), from €981,812 to €949,275
- Financial charges -€23,580
down €23,580 (-26.4%), from €89,187 to €65,607
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 | €2,634,098 | €2,444,002 | -€190,096 | -7.2% |
| Fixed assets | 21/28 | €312,975 | €234,872 | -€78,103 | -25.0% |
| Tangible fixed assets | 22/27 | €312,975 | €234,872 | -€78,103 | -25.0% |
| Land and buildings | 22 | €2,531 | €2,043 | -€488 | -19.3% |
| Plant, machinery and equipment | 23 | €296,818 | €224,755 | -€72,063 | -24.3% |
| Furniture and vehicles | 24 | €13,626 | €8,073 | -€5,553 | -40.8% |
| Current assets | 29/58 | €2,321,123 | €2,209,130 | -€111,993 | -4.8% |
| Stocks and contracts in progress | 3 | €1,845,520 | €1,619,547 | -€225,973 | -12.2% |
| Stocks | 30/36 | €1,845,520 | €1,619,547 | -€225,973 | -12.2% |
| Amounts receivable within one year | 40/41 | €400,206 | €543,653 | +€143,447 | +35.8% |
| Trade receivables | 40 | €49,539 | €164,257 | +€114,717 | +231.6% |
| Other amounts receivable | 41 | €350,666 | €379,396 | +€28,730 | +8.2% |
| Cash at bank and in hand | 54/58 | €74,919 | €44,906 | -€30,013 | -40.1% |
| Deferred charges and accrued income | 490/1 | €479 | €1,025 | +€546 | +114.1% |
| Total equity and liabilities | 10/49 | €2,634,098 | €2,444,002 | -€190,096 | -7.2% |
| Equity | 10/15 | €426,519 | €429,253 | +€2,734 | +0.6% |
| Contributions | 10/11 | €366,600 | €366,600 | = | 0.0% |
| Reserves | 13 | €21,631 | €21,631 | = | 0.0% |
| Distributable reserves | 133 | €21,631 | €21,631 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,288 | €41,022 | +€2,734 | +7.1% |
| Amounts payable | 17/49 | €2,207,579 | €2,014,749 | -€192,830 | -8.7% |
| Amounts payable after more than one year | 17 | €189,880 | €144,010 | -€45,869 | -24.2% |
| Financial debts | 170/4 | €189,880 | €144,010 | -€45,869 | -24.2% |
| Amounts payable within one year | 42/48 | €2,005,057 | €1,870,668 | -€134,389 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €73,512 | €45,869 | -€27,643 | -37.6% |
| Financial debts | 43 | €975,000 | €975,000 | = | 0.0% |
| Credit institutions | 430/8 | €975,000 | €975,000 | = | 0.0% |
| Trade debts | 44 | €812,497 | €691,362 | -€121,136 | -14.9% |
| Suppliers | 440/4 | €812,497 | €691,362 | -€121,136 | -14.9% |
| Taxes, remuneration and social security | 45 | €144,047 | €158,437 | +€14,390 | +10.0% |
| Taxes | 450/3 | €24,200 | €30,283 | +€6,083 | +25.1% |
| Remuneration and social security | 454/9 | €119,847 | €128,154 | +€8,307 | +6.9% |
| Accrued charges and deferred income | 492/3 | €12,643 | €71 | -€12,572 | -99.4% |
| Remuneration, social security and pensions | 62 | €768,479 | €766,851 | -€1,629 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,303 | €78,103 | -€6,200 | -7.4% |
| Other operating charges | 640/8 | €49,778 | €41,484 | -€8,294 | -16.7% |
| Gross operating margin | 9900 | €981,812 | €949,275 | -€32,537 | -3.3% |
| Operating profit (loss) | 9901 | €79,252 | €62,837 | -€16,415 | -20.7% |
| Financial income | 75/76B | €10,356 | €11,402 | +€1,046 | +10.1% |
| Recurring financial income | 75 | €10,356 | €11,402 | +€1,046 | +10.1% |
| Financial charges | 65/66B | €89,187 | €65,607 | -€23,580 | -26.4% |
| Recurring financial charges | 65 | €89,187 | €65,607 | -€23,580 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €421 | €8,632 | +€8,211 | +1948.3% |
| Income taxes | 67/77 | €3,709 | €5,898 | +€2,189 | +59.0% |
| Profit (loss) for the period | 9904 | -€3,288 | €2,734 | +€6,022 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,288 | €2,734 | +€6,022 |
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.