CALVAGE: 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.
CALVAGE
Largest movements
- Stocks and contracts +€12,353
up €12,353 (+13.1%), from €94,142 to €106,495
- Tangible fixed assets -€8,420
down €8,420 (-2.7%), from €312,221 to €303,801
of which Land and buildings: -€9,780
- Debts after one year -€35,698
down €35,698 (-10.9%), from €328,127 to €292,429
- Other debts +€22,663
up €22,663 (+40.2%), from €56,434 to €79,096
- Profit (loss) carried forward +€12,822
up €12,822 (+35.6%), from -€36,011 to -€23,189
- Gross operating margin +€16,146
up €16,146 (+33.8%), from €47,768 to €63,914
- Financial income -€1,148
down €1,148 (-80.0%), from €1,435 to €287
- Depreciation -€1,005
down €1,005 (-6.7%), from €14,990 to €13,985
- Staff costs +€960
up €960 (+3.4%), from €28,430 to €29,391
- Financial charges -€738
down €738 (-10.1%), from €7,299 to €6,561
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 | €416,106 | €418,581 | +€2,475 | +0.6% |
| Fixed assets | 21/28 | €314,397 | €303,801 | -€10,596 | -3.4% |
| Intangible fixed assets | 21 | €2,176 | - | -€2,176 | |
| Tangible fixed assets | 22/27 | €312,221 | €303,801 | -€8,420 | -2.7% |
| Land and buildings | 22 | €310,783 | €301,003 | -€9,780 | -3.1% |
| Plant, machinery and equipment | 23 | €262 | €2,763 | +€2,501 | +955.0% |
| Furniture and vehicles | 24 | €1,176 | €34 | -€1,142 | -97.1% |
| Current assets | 29/58 | €101,709 | €114,780 | +€13,071 | +12.9% |
| Stocks and contracts in progress | 3 | €94,142 | €106,495 | +€12,353 | +13.1% |
| Stocks | 30/36 | €94,142 | €106,495 | +€12,353 | +13.1% |
| Amounts receivable within one year | 40/41 | €3,129 | €1,745 | -€1,383 | -44.2% |
| Trade receivables | 40 | €3,129 | €1,745 | -€1,383 | -44.2% |
| Cash at bank and in hand | 54/58 | €2,525 | €5,435 | +€2,911 | +115.3% |
| Deferred charges and accrued income | 490/1 | €1,913 | €1,104 | -€809 | -42.3% |
| Total equity and liabilities | 10/49 | €416,106 | €418,581 | +€2,475 | +0.6% |
| Equity | 10/15 | -€31,011 | -€18,189 | +€12,822 | +41.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,011 | -€23,189 | +€12,822 | +35.6% |
| Amounts payable | 17/49 | €447,117 | €436,770 | -€10,346 | -2.3% |
| Amounts payable after more than one year | 17 | €328,127 | €292,429 | -€35,698 | -10.9% |
| Financial debts | 170/4 | €328,127 | €292,429 | -€35,698 | -10.9% |
| Amounts payable within one year | 42/48 | €118,990 | €144,342 | +€25,352 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €34,872 | €35,698 | +€826 | +2.4% |
| Trade debts | 44 | €16,232 | €16,672 | +€440 | +2.7% |
| Suppliers | 440/4 | €16,232 | €16,672 | +€440 | +2.7% |
| Advances received on contracts in progress | 46 | €853 | - | -€853 | |
| Taxes, remuneration and social security | 45 | €10,599 | €12,876 | +€2,276 | +21.5% |
| Taxes | 450/3 | €6,246 | €8,395 | +€2,149 | +34.4% |
| Remuneration and social security | 454/9 | €4,353 | €4,481 | +€128 | +2.9% |
| Other amounts payable | 47/48 | €56,434 | €79,096 | +€22,663 | +40.2% |
| Remuneration, social security and pensions | 62 | €28,430 | €29,391 | +€960 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,990 | €13,985 | -€1,005 | -6.7% |
| Other operating charges | 640/8 | €2,025 | €1,303 | -€722 | -35.7% |
| Gross operating margin | 9900 | €47,768 | €63,914 | +€16,146 | +33.8% |
| Operating profit (loss) | 9901 | €2,323 | €19,236 | +€16,913 | +728.0% |
| Financial income | 75/76B | €1,435 | €287 | -€1,148 | -80.0% |
| Recurring financial income | 75 | €1,435 | €287 | -€1,148 | -80.0% |
| Financial charges | 65/66B | €7,299 | €6,561 | -€738 | -10.1% |
| Recurring financial charges | 65 | €7,299 | €6,561 | -€738 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,541 | €12,962 | +€16,503 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€3,680 | €12,822 | +€16,502 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,680 | €12,822 | +€16,502 |
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 6 October 2026 via checked.be.