Canelo: 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.
What changed
Canelo
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€67,544
2024 · €70,915-€3,371
Equity
€188,459
2024 · €120,915+€67,544
Cash
€20,429
2024 · €16,016+€4,413
Balance sheet total
€1.5m
2024 · €1.5m-€10,943
Largest movements
Assets
- Tangible fixed assets -€37,265
down €37,265 (-2.5%), from €1.5m to €1.4m
- Receivables within one year +€21,780
up €21,780, from €0 to €21,780
of which Trade receivables: +€21,780
Equity and liabilities
- Debts after one year -€80,536
down €80,536 (-9.4%), from €854,901 to €774,366
- Reserves +€67,544
up €67,544 (+95.2%), from €70,915 to €138,459
Income statement
- Gross operating margin -€5,488
down €5,488 (-3.2%), from €171,723 to €166,235
- Financial charges -€2,297
down €2,297 (-9.1%), from €25,124 to €22,828
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.
Result 2024
€70,915
Gross operating margin
-€5,488
Other operating charges
-€133
Financial income
-€84
Financial charges
+€2,297
Taxes
+€37
Result 2025
€67,544
raises the resultlowers the result
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.
From operations
+€83,654
Investment
€0
Financing
-€79,241
Cash 2024
€16,016
From operations (derived)
+€83,654
Net result for the year
+€67,544
Depreciation
+€37,265
Receivables within one year
-€21,780
Deferred charges and accrued income
-€129
Trade debts
-€743
Tax, wage and social debts
+€1,155
Other debts
+€3,895
Accrued charges and deferred income
-€3,554
Financing
-€79,241
Debts after one year
-€80,536
Current portion of long-term debt
+€1,367
Short-term financial debts
-€72
Cash 2025
€20,429
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,493,308 | €1,482,365 | -€10,943 | -0.7% |
| Fixed assets | 21/28 | €1,476,481 | €1,439,216 | -€37,265 | -2.5% |
| Tangible fixed assets | 22/27 | €1,476,481 | €1,439,216 | -€37,265 | -2.5% |
| Land and buildings | 22 | €1,476,481 | €1,439,216 | -€37,265 | -2.5% |
| Current assets | 29/58 | €16,827 | €43,149 | +€26,322 | +156% |
| Amounts receivable within one year | 40/41 | €0 | €21,780 | +€21,780 | |
| Trade receivables | 40 | €0 | €21,780 | +€21,780 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €16,016 | €20,429 | +€4,413 | +27.6% |
| Deferred charges and accrued income | 490/1 | €811 | €941 | +€129 | +16.0% |
| Total equity and liabilities | 10/49 | €1,493,308 | €1,482,365 | -€10,943 | -0.7% |
| Equity | 10/15 | €120,915 | €188,459 | +€67,544 | +55.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €70,915 | €138,459 | +€67,544 | +95.2% |
| Distributable reserves | 133 | €70,915 | €138,459 | +€67,544 | +95.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,372,393 | €1,293,906 | -€78,487 | -5.7% |
| Amounts payable after more than one year | 17 | €854,901 | €774,366 | -€80,536 | -9.4% |
| Financial debts | 170/4 | €854,901 | €774,366 | -€80,536 | -9.4% |
| Amounts payable within one year | 42/48 | €504,870 | €510,473 | +€5,603 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €85,823 | €87,190 | +€1,367 | +1.6% |
| Financial debts | 43 | €10,183 | €10,112 | -€72 | -0.7% |
| Credit institutions | 430/8 | €10,183 | €10,112 | -€72 | -0.7% |
| Trade debts | 44 | €2,212 | €1,469 | -€743 | -33.6% |
| Suppliers | 440/4 | €2,212 | €1,469 | -€743 | -33.6% |
| Taxes, remuneration and social security | 45 | €18,930 | €20,085 | +€1,155 | +6.1% |
| Taxes | 450/3 | €18,930 | €20,085 | +€1,155 | +6.1% |
| Other amounts payable | 47/48 | €387,722 | €391,618 | +€3,895 | +1.0% |
| Accrued charges and deferred income | 492/3 | €12,621 | €9,067 | -€3,554 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,265 | €37,265 | = | 0.0% |
| Other operating charges | 640/8 | €2,140 | €2,273 | +€133 | +6.2% |
| Gross operating margin | 9900 | €171,723 | €166,235 | -€5,488 | -3.2% |
| Operating profit (loss) | 9901 | €132,317 | €126,697 | -€5,621 | -4.2% |
| Financial income | 75/76B | €84 | €0 | -€84 | -100% |
| Recurring financial income | 75 | €84 | €0 | -€84 | -100% |
| Financial charges | 65/66B | €25,124 | €22,828 | -€2,297 | -9.1% |
| Recurring financial charges | 65 | €25,124 | €22,828 | -€2,297 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €107,277 | €103,869 | -€3,408 | -3.2% |
| Income taxes | 67/77 | €36,362 | €36,325 | -€37 | -0.1% |
| Profit (loss) for the period | 9904 | €70,915 | €67,544 | -€3,371 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €70,915 | €67,544 | -€3,371 | -4.8% |
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 13 October 2026 via checked.be.