Calzon: 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.
Calzon
Largest movements
- Tangible fixed assets +€52,686
up €52,686 (+21.8%), from €241,455 to €294,141
of which Plant, machinery and equipment: +€50,137
- Cash +€19,208
up €19,208 (+223.5%), from €8,594 to €27,802
mainly Net result for the year (+€32,490) and Depreciation (+€28,216)
- Intangible fixed assets -€18,444
down €18,444 (-25.9%), from €71,323 to €52,879
- Financial fixed assets +€13,200
up €13,200 (+2640.0%), from €500 to €13,700
- Deferred charges and accrued income +€5,031
new in 2025: €5,031
- Reserves +€32,490
up €32,490 (+99.5%), from €32,662 to €65,151
- Debts after one year +€16,793
up €16,793 (+62.8%), from €26,745 to €43,538
- Tax, wage and social debts +€7,791
up €7,791 (+31.6%), from €24,632 to €32,424
of which Remuneration and social security: +€11,743
- Current portion of long-term debt +€7,485
up €7,485 (+72.3%), from €10,346 to €17,831
- Gross operating margin +€34,924
up €34,924 (+19.3%), from €181,078 to €216,002
- Other operating charges -€28,818
down €28,818 (-83.3%), from €34,595 to €5,777
- Staff costs +€26,194
up €26,194 (+26.1%), from €100,518 to €126,711
- Depreciation +€13,832
up €13,832 (+96.2%), from €14,383 to €28,216
- Financial charges +€7,402
up €7,402 (+99.5%), from €7,437 to €14,839
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 | €331,526 | €401,537 | +€70,011 | +21.1% |
| Fixed assets | 21/28 | €313,277 | €360,720 | +€47,442 | +15.1% |
| Intangible fixed assets | 21 | €71,323 | €52,879 | -€18,444 | -25.9% |
| Tangible fixed assets | 22/27 | €241,455 | €294,141 | +€52,686 | +21.8% |
| Land and buildings | 22 | €236,088 | €230,770 | -€5,319 | -2.3% |
| Plant, machinery and equipment | 23 | - | €50,137 | +€50,137 | |
| Furniture and vehicles | 24 | €5,366 | €13,234 | +€7,867 | +146.6% |
| Financial fixed assets | 28 | €500 | €13,700 | +€13,200 | +2640.0% |
| Current assets | 29/58 | €18,249 | €40,817 | +€22,569 | +123.7% |
| Stocks and contracts in progress | 3 | €4,410 | €4,130 | -€280 | -6.3% |
| Stocks | 30/36 | €4,410 | €4,130 | -€280 | -6.3% |
| Amounts receivable within one year | 40/41 | €5,244 | €3,854 | -€1,390 | -26.5% |
| Trade receivables | 40 | €2,735 | €0 | -€2,735 | -100.0% |
| Other amounts receivable | 41 | €2,510 | €3,854 | +€1,345 | +53.6% |
| Cash at bank and in hand | 54/58 | €8,594 | €27,802 | +€19,208 | +223.5% |
| Deferred charges and accrued income | 490/1 | - | €5,031 | +€5,031 | |
| Total equity and liabilities | 10/49 | €331,526 | €401,537 | +€70,011 | +21.1% |
| Equity | 10/15 | €38,662 | €71,151 | +€32,490 | +84.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €32,662 | €65,151 | +€32,490 | +99.5% |
| Distributable reserves | 133 | €32,662 | €65,151 | +€32,490 | +99.5% |
| Provisions and deferred taxes | 16 | €181,379 | €181,379 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €181,379 | €181,379 | = | 0.0% |
| Other liabilities and charges | 164/5 | €181,379 | €181,379 | = | 0.0% |
| Amounts payable | 17/49 | €111,485 | €149,007 | +€37,521 | +33.7% |
| Amounts payable after more than one year | 17 | €26,745 | €43,538 | +€16,793 | +62.8% |
| Financial debts | 170/4 | €26,745 | €43,538 | +€16,793 | +62.8% |
| Amounts payable within one year | 42/48 | €83,683 | €105,468 | +€21,785 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €10,346 | €17,831 | +€7,485 | +72.3% |
| Trade debts | 44 | €11,985 | €15,909 | +€3,924 | +32.7% |
| Suppliers | 440/4 | €11,985 | €15,909 | +€3,924 | +32.7% |
| Taxes, remuneration and social security | 45 | €24,632 | €32,424 | +€7,791 | +31.6% |
| Taxes | 450/3 | €24,632 | €20,681 | -€3,952 | -16.0% |
| Remuneration and social security | 454/9 | - | €11,743 | +€11,743 | |
| Other amounts payable | 47/48 | €36,720 | €39,305 | +€2,585 | +7.0% |
| Accrued charges and deferred income | 492/3 | €1,057 | €0 | -€1,057 | -100.0% |
| Non-recurring operating income | 76A | €45,000 | - | -€45,000 | |
| Remuneration, social security and pensions | 62 | €100,518 | €126,711 | +€26,194 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,383 | €28,216 | +€13,832 | +96.2% |
| Other operating charges | 640/8 | €34,595 | €5,777 | -€28,818 | -83.3% |
| Gross operating margin | 9900 | €181,078 | €216,002 | +€34,924 | +19.3% |
| Operating profit (loss) | 9901 | €31,582 | €55,298 | +€23,716 | +75.1% |
| Financial income | 75/76B | - | €715 | +€715 | |
| Recurring financial income | 75 | - | €715 | +€715 | |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €7,437 | €14,839 | +€7,402 | +99.5% |
| Recurring financial charges | 65 | €7,437 | €14,839 | +€7,402 | +99.5% |
| Profit (loss) for the period before taxes | 9903 | €24,145 | €41,175 | +€17,030 | +70.5% |
| Income taxes | 67/77 | €9,001 | €8,685 | -€316 | -3.5% |
| Profit (loss) for the period | 9904 | €15,144 | €32,490 | +€17,346 | +114.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,144 | €32,490 | +€17,346 | +114.5% |
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 8 October 2026 via checked.be.