CANALE: 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.
CANALE
Largest movements
- Tangible fixed assets +€145,752
up €145,752 (+36.4%), from €399,872 to €545,623
of which Land and buildings: +€156,269
- Current investments +€53,275
up €53,275 (+81.4%), from €65,455 to €118,730
- Cash -€40,866
down €40,866 (-32.1%), from €127,306 to €86,440
mainly Investment in fixed assets (net) (-€166,529) and Other debts (-€63,510)
- Reserves +€160,963
up €160,963 (+36.2%), from €444,871 to €605,834
of which Distributable reserves: +€160,963
- Other debts -€63,510
down €63,510 (-80.1%), from €79,257 to €15,747
- Current portion of long-term debt +€51,525
up €51,525 (+133%), from €38,761 to €90,286
- Debts after one year +€38,603
up €38,603 (+38.5%), from €100,181 to €138,784
- Tax, wage and social debts -€26,713
down €26,713 (-96.1%), from €27,799 to €1,086
- Gross operating margin -€169,376
down €169,376 (-42.9%), from €395,160 to €225,784
- Taxes -€39,249
down €39,249 (-44.6%), from €87,914 to €48,666
- Depreciation +€15,493
up €15,493 (+293%), from €5,284 to €20,777
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 | €716,621 | €876,168 | +€159,548 | +22.3% |
| Fixed assets | 21/28 | €408,712 | €554,463 | +€145,752 | +35.7% |
| Tangible fixed assets | 22/27 | €399,872 | €545,623 | +€145,752 | +36.4% |
| Land and buildings | 22 | €238,630 | €394,899 | +€156,269 | +65.5% |
| Furniture and vehicles | 24 | €32,042 | €21,525 | -€10,518 | -32.8% |
| Other tangible fixed assets | 26 | €129,200 | €129,200 | = | 0.0% |
| Financial fixed assets | 28 | €8,840 | €8,840 | = | 0.0% |
| Current assets | 29/58 | €307,909 | €321,705 | +€13,796 | +4.5% |
| Amounts receivable within one year | 40/41 | €114,119 | €115,551 | +€1,432 | +1.3% |
| Other amounts receivable | 41 | €114,119 | €115,551 | +€1,432 | +1.3% |
| Current investments | 50/53 | €65,455 | €118,730 | +€53,275 | +81.4% |
| Cash at bank and in hand | 54/58 | €127,306 | €86,440 | -€40,866 | -32.1% |
| Deferred charges and accrued income | 490/1 | €1,029 | €984 | -€45 | -4.4% |
| Total equity and liabilities | 10/49 | €716,621 | €876,168 | +€159,548 | +22.3% |
| Equity | 10/15 | €463,471 | €624,434 | +€160,963 | +34.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €444,871 | €605,834 | +€160,963 | +36.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €443,011 | €603,974 | +€160,963 | +36.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €253,150 | €251,734 | -€1,415 | -0.6% |
| Amounts payable after more than one year | 17 | €100,181 | €138,784 | +€38,603 | +38.5% |
| Financial debts | 170/4 | €100,181 | €138,784 | +€38,603 | +38.5% |
| Amounts payable within one year | 42/48 | €152,969 | €112,908 | -€40,061 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €38,761 | €90,286 | +€51,525 | +133% |
| Financial debts | 43 | €286 | €4,355 | +€4,069 | +1,423% |
| Credit institutions | 430/8 | €286 | €4,355 | +€4,069 | +1,423% |
| Trade debts | 44 | €6,867 | €1,435 | -€5,432 | -79.1% |
| Suppliers | 440/4 | €6,867 | €1,435 | -€5,432 | -79.1% |
| Taxes, remuneration and social security | 45 | €27,799 | €1,086 | -€26,713 | -96.1% |
| Taxes | 450/3 | €27,799 | €1,086 | -€26,713 | -96.1% |
| Other amounts payable | 47/48 | €79,257 | €15,747 | -€63,510 | -80.1% |
| Accrued charges and deferred income | 492/3 | €0 | €42 | +€42 | |
| Non-recurring operating income | 76A | €11,657 | €0 | -€11,657 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,284 | €20,777 | +€15,493 | +293% |
| Other operating charges | 640/8 | €2,774 | €3,895 | +€1,121 | +40.4% |
| Gross operating margin | 9900 | €395,160 | €225,784 | -€169,376 | -42.9% |
| Operating profit (loss) | 9901 | €387,101 | €201,111 | -€185,990 | -48.0% |
| Financial income | 75/76B | €40,494 | €38,822 | -€1,672 | -4.1% |
| Recurring financial income | 75 | €40,494 | €38,822 | -€1,672 | -4.1% |
| Financial charges | 65/66B | €5,387 | €8,584 | +€3,197 | +59.3% |
| Recurring financial charges | 65 | €5,387 | €8,584 | +€3,197 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €422,208 | €231,349 | -€190,859 | -45.2% |
| Income taxes | 67/77 | €87,914 | €48,666 | -€39,249 | -44.6% |
| Profit (loss) for the period | 9904 | €334,294 | €182,684 | -€151,610 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €334,294 | €182,684 | -€151,610 | -45.4% |
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.