CANEPHORA: 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.
CANEPHORA
Largest movements
- Receivables within one year -€9,565
down €9,565 (-26.3%), from €36,363 to €26,798
of which Trade receivables: -€13,667
- Cash +€4,882
up €4,882 (+6.7%), from €73,293 to €78,175
mainly Net result for the year (+€32,777) and Receivables within one year (+€9,565)
- Reserves +€23,000
up €23,000 (+33.6%), from €68,500 to €91,500
- Other debts -€21,791
down €21,791 (-85.8%), from €25,386 to €3,595
- Tax, wage and social debts -€10,843
down €10,843 (-50.2%), from €21,615 to €10,772
- Accrued charges and deferred income +€2,480
new in 2025: €2,480
- Trade debts +€1,473
up €1,473 (+34.6%), from €4,263 to €5,737
- Gross operating margin -€26,671
down €26,671 (-35.4%), from €75,404 to €48,733
- Taxes -€6,171
down €6,171 (-40.5%), from €15,253 to €9,082
- Financial charges +€1,358
up €1,358 (+65.2%), from €2,084 to €3,442
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 | €120,372 | €114,796 | -€5,576 | -4.6% |
| Fixed assets | 21/28 | €9,809 | €8,826 | -€983 | -10.0% |
| Tangible fixed assets | 22/27 | €9,809 | €8,826 | -€983 | -10.0% |
| Furniture and vehicles | 24 | €991 | €585 | -€406 | -41.0% |
| Other tangible fixed assets | 26 | €8,818 | €8,241 | -€577 | -6.5% |
| Current assets | 29/58 | €110,563 | €105,970 | -€4,593 | -4.2% |
| Amounts receivable within one year | 40/41 | €36,363 | €26,798 | -€9,565 | -26.3% |
| Trade receivables | 40 | €36,116 | €22,449 | -€13,667 | -37.8% |
| Other amounts receivable | 41 | €247 | €4,350 | +€4,103 | +1659.9% |
| Cash at bank and in hand | 54/58 | €73,293 | €78,175 | +€4,882 | +6.7% |
| Deferred charges and accrued income | 490/1 | €907 | €997 | +€90 | +9.9% |
| Total equity and liabilities | 10/49 | €120,372 | €114,796 | -€5,576 | -4.6% |
| Equity | 10/15 | €69,108 | €91,884 | +€22,777 | +33.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €68,500 | €91,500 | +€23,000 | +33.6% |
| Distributable reserves | 133 | €68,500 | €91,500 | +€23,000 | +33.6% |
| Profit (loss) carried forward | 14 | €508 | €284 | -€223 | -44.0% |
| Amounts payable | 17/49 | €51,264 | €22,912 | -€28,352 | -55.3% |
| Amounts payable within one year | 42/48 | €51,264 | €20,432 | -€30,832 | -60.1% |
| Financial debts | 43 | - | €328 | +€328 | |
| Credit institutions | 430/8 | - | €328 | +€328 | |
| Trade debts | 44 | €4,263 | €5,737 | +€1,473 | +34.6% |
| Suppliers | 440/4 | €4,263 | €5,737 | +€1,473 | +34.6% |
| Taxes, remuneration and social security | 45 | €21,615 | €10,772 | -€10,843 | -50.2% |
| Taxes | 450/3 | €21,615 | €10,772 | -€10,843 | -50.2% |
| Other amounts payable | 47/48 | €25,386 | €3,595 | -€21,791 | -85.8% |
| Accrued charges and deferred income | 492/3 | - | €2,480 | +€2,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,754 | €3,033 | +€279 | +10.1% |
| Other operating charges | 640/8 | €343 | €400 | +€57 | +16.7% |
| Gross operating margin | 9900 | €75,404 | €48,733 | -€26,671 | -35.4% |
| Operating profit (loss) | 9901 | €72,307 | €45,301 | -€27,006 | -37.3% |
| Financial charges | 65/66B | €2,084 | €3,442 | +€1,358 | +65.2% |
| Recurring financial charges | 65 | €2,084 | €3,442 | +€1,358 | +65.2% |
| Profit (loss) for the period before taxes | 9903 | €70,223 | €41,858 | -€28,365 | -40.4% |
| Income taxes | 67/77 | €15,253 | €9,082 | -€6,171 | -40.5% |
| Profit (loss) for the period | 9904 | €54,970 | €32,777 | -€22,193 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,970 | €32,777 | -€22,193 | -40.4% |
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 7 October 2026 via checked.be.