CANAMA: 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.
CANAMA
Largest movements
- Tangible fixed assets -€253,226
down €253,226 (-7.1%), from €3.6m to €3.3m
- Receivables within one year -€175,444
down €175,444 (-38.4%), from €456,928 to €281,483
of which Other amounts receivable: -€176,315
- Intangible fixed assets -€82,676
down €82,676 (-36.4%), from €227,358 to €144,683
- Debts after one year -€539,139
down €539,139 (-27.3%), from €2.0m to €1.4m
of which Financial debts: -€535,169
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Reserves +€52,276
up €52,276 (+6.1%), from €850,964 to €903,240
of which Distributable reserves: +€100,000
- Financial income -€82,181
down €82,181 (-86.7%), from €94,826 to €12,645
of which Non-recurring financial income: -€75,229
- Taxes +€67,761
up €67,761 (+152.6%), from €44,417 to €112,178
- Financial charges -€42,360
down €42,360 (-43.6%), from €97,219 to €54,859
- Other operating charges -€30,215
down €30,215 (-38.8%), from €77,793 to €47,579
- Gross operating margin -€27,049
down €27,049 (-4.7%), from €575,720 to €548,671
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 | €4,334,191 | €3,810,223 | -€523,968 | -12.1% |
| Fixed assets | 21/28 | €3,811,642 | €3,506,703 | -€304,939 | -8.0% |
| Intangible fixed assets | 21 | €227,358 | €144,683 | -€82,676 | -36.4% |
| Tangible fixed assets | 22/27 | €3,584,283 | €3,331,057 | -€253,226 | -7.1% |
| Land and buildings | 22 | €3,584,283 | €3,331,057 | -€253,226 | -7.1% |
| Financial fixed assets | 28 | - | €30,964 | +€30,964 | |
| Current assets | 29/58 | €522,550 | €303,520 | -€219,029 | -41.9% |
| Amounts receivable within one year | 40/41 | €456,928 | €281,483 | -€175,444 | -38.4% |
| Trade receivables | 40 | €5,613 | €6,483 | +€870 | +15.5% |
| Other amounts receivable | 41 | €451,315 | €275,000 | -€176,315 | -39.1% |
| Cash at bank and in hand | 54/58 | €57,109 | €15,724 | -€41,385 | -72.5% |
| Deferred charges and accrued income | 490/1 | €8,512 | €6,312 | -€2,200 | -25.8% |
| Total equity and liabilities | 10/49 | €4,334,191 | €3,810,223 | -€523,968 | -12.1% |
| Equity | 10/15 | €1,735,954 | €1,795,396 | +€59,441 | +3.4% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €850,964 | €903,240 | +€52,276 | +6.1% |
| Non-distributable reserves | 130/1 | €85,000 | €85,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €85,000 | €85,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €765,964 | €718,240 | -€47,724 | -6.2% |
| Distributable reserves | 133 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | €281,964 | €292,156 | +€10,192 | +3.6% |
| Investment grants | 15 | €3,027 | - | -€3,027 | |
| Provisions and deferred taxes | 16 | €234,087 | €218,179 | -€15,908 | -6.8% |
| Deferred taxes | 168 | €234,087 | €218,179 | -€15,908 | -6.8% |
| Amounts payable | 17/49 | €2,364,150 | €1,796,649 | -€567,501 | -24.0% |
| Amounts payable after more than one year | 17 | €1,973,870 | €1,434,731 | -€539,139 | -27.3% |
| Financial debts | 170/4 | €1,934,615 | €1,399,446 | -€535,169 | -27.7% |
| Other amounts payable | 178/9 | €39,255 | €35,285 | -€3,970 | -10.1% |
| Amounts payable within one year | 42/48 | €390,280 | €361,918 | -€28,362 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €258,840 | €289,465 | +€30,626 | +11.8% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €1,981 | €944 | -€1,037 | -52.3% |
| Suppliers | 440/4 | €1,981 | €944 | -€1,037 | -52.3% |
| Taxes, remuneration and social security | 45 | €29,459 | €71,508 | +€42,049 | +142.7% |
| Taxes | 450/3 | €29,459 | €71,508 | +€42,049 | +142.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303,539 | €300,140 | -€3,399 | -1.1% |
| Other operating charges | 640/8 | €77,793 | €47,579 | -€30,215 | -38.8% |
| Gross operating margin | 9900 | €575,720 | €548,671 | -€27,049 | -4.7% |
| Operating profit (loss) | 9901 | €194,388 | €200,953 | +€6,564 | +3.4% |
| Financial income | 75/76B | €94,826 | €12,645 | -€82,181 | -86.7% |
| Recurring financial income | 75 | €19,597 | €12,645 | -€6,952 | -35.5% |
| Non-recurring financial income | 76B | €75,229 | - | -€75,229 | |
| Financial charges | 65/66B | €97,219 | €54,859 | -€42,360 | -43.6% |
| Recurring financial charges | 65 | €97,219 | €54,859 | -€42,360 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €191,995 | €158,738 | -€33,257 | -17.3% |
| Transfer from deferred taxes | 780 | €15,590 | €15,908 | +€318 | +2.0% |
| Transfer to deferred taxes | 680 | €22,882 | - | -€22,882 | |
| Income taxes | 67/77 | €44,417 | €112,178 | +€67,761 | +152.6% |
| Profit (loss) for the period | 9904 | €140,286 | €62,468 | -€77,817 | -55.5% |
| Transfer from tax-exempt reserves | 789 | €46,769 | €47,724 | +€955 | +2.0% |
| Transfer to tax-exempt reserves | 689 | €68,647 | - | -€68,647 | |
| Profit (loss) for the period to be appropriated | 9905 | €118,408 | €110,192 | -€8,215 | -6.9% |
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 3 October 2026 via checked.be.