CALVO: 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.
CALVO
Largest movements
- Current investments +€70,001
new in 2025: €70,001
- Cash -€30,197
down €30,197 (-58.7%), from €51,437 to €21,240
mainly Current investments (-€70,001) and Trade debts (-€48)
- Tangible fixed assets -€3,667
down €3,667 (-55.8%), from €6,571 to €2,904
of which Furniture and vehicles: -€2,000
- Reserves +€25,574
up €25,574 (+55.5%), from €46,105 to €71,680
- Tax, wage and social debts +€7,092
up €7,092 (+102.3%), from €6,935 to €14,027
- Other debts +€3,519
up €3,519 (+1141.6%), from €308 to €3,827
- Gross operating margin +€1,904
up €1,904 (+5.3%), from €36,245 to €38,149
- Other operating charges +€548
up €548 (+56.7%), from €968 to €1,516
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 | €58,008 | €94,145 | +€36,137 | +62.3% |
| Fixed assets | 21/28 | €6,571 | €2,904 | -€3,667 | -55.8% |
| Tangible fixed assets | 22/27 | €6,571 | €2,904 | -€3,667 | -55.8% |
| Plant, machinery and equipment | 23 | €2,078 | €411 | -€1,667 | -80.2% |
| Furniture and vehicles | 24 | €4,493 | €2,493 | -€2,000 | -44.5% |
| Current assets | 29/58 | €51,437 | €91,240 | +€39,804 | +77.4% |
| Current investments | 50/53 | - | €70,001 | +€70,001 | |
| Cash at bank and in hand | 54/58 | €51,437 | €21,240 | -€30,197 | -58.7% |
| Total equity and liabilities | 10/49 | €58,008 | €94,145 | +€36,137 | +62.3% |
| Equity | 10/15 | €50,105 | €75,680 | +€25,574 | +51.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €46,105 | €71,680 | +€25,574 | +55.5% |
| Distributable reserves | 133 | €46,105 | €71,680 | +€25,574 | +55.5% |
| Amounts payable | 17/49 | €7,902 | €18,465 | +€10,563 | +133.7% |
| Amounts payable within one year | 42/48 | €7,902 | €18,465 | +€10,563 | +133.7% |
| Trade debts | 44 | €659 | €611 | -€48 | -7.3% |
| Suppliers | 440/4 | €659 | €611 | -€48 | -7.3% |
| Taxes, remuneration and social security | 45 | €6,935 | €14,027 | +€7,092 | +102.3% |
| Taxes | 450/3 | €6,935 | €14,027 | +€7,092 | +102.3% |
| Other amounts payable | 47/48 | €308 | €3,827 | +€3,519 | +1141.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,667 | €3,667 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €1,516 | +€548 | +56.7% |
| Gross operating margin | 9900 | €36,245 | €38,149 | +€1,904 | +5.3% |
| Operating profit (loss) | 9901 | €31,610 | €32,966 | +€1,356 | +4.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €27 | €301 | +€274 | +1007.8% |
| Recurring financial charges | 65 | €27 | €301 | +€274 | +1007.8% |
| Profit (loss) for the period before taxes | 9903 | €31,583 | €32,667 | +€1,084 | +3.4% |
| Income taxes | 67/77 | €6,935 | €7,093 | +€158 | +2.3% |
| Profit (loss) for the period | 9904 | €24,648 | €25,574 | +€926 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,648 | €25,574 | +€926 | +3.8% |
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 29 September 2026 via checked.be.