Cantata: 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.
Cantata
Largest movements
- Tangible fixed assets +€193,927
up €193,927 (+16.0%), from €1.2m to €1.4m
of which Other tangible fixed assets: +€192,348
- Stocks and contracts +€76,133
up €76,133 (+11.6%), from €656,244 to €732,377
- Cash -€67,168
down €67,168 (-37.3%), from €179,867 to €112,699
mainly Trade debts (-€272,997) and Investment in fixed assets (net) (-€136,395)
- Receivables within one year -€61,622
down €61,622 (-95.4%), from €64,617 to €2,995
of which Trade receivables: -€62,879
- Financial fixed assets -€57,533
down €57,533 (-60.3%), from €95,487 to €37,954
- Debts after one year +€500,000
up €500,000 (+40.2%), from €1.2m to €1.7m
- Trade debts -€272,997
down €272,997 (-59.4%), from €459,693 to €186,696
- Profit (loss) carried forward -€74,036
down €74,036 (-103%), from -€72,144 to -€146,179
- Other debts -€61,370
down €61,370 (-10.7%), from €573,983 to €512,613
- Staff costs +€252,073
up €252,073 (+32.5%), from €776,515 to €1.0m
- Gross operating margin +€141,939
up €141,939 (+16.2%), from €878,840 to €1.0m
- Depreciation -€32,741
no longer reported in 2025 (was €32,741)
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 | €2,640,666 | €2,740,799 | +€100,133 | +3.8% |
| Fixed assets | 21/28 | €1,628,869 | €1,765,264 | +€136,395 | +8.4% |
| Intangible fixed assets | 21 | €320,544 | €320,544 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,212,838 | €1,406,766 | +€193,927 | +16.0% |
| Plant, machinery and equipment | 23 | - | €1,579 | +€1,579 | |
| Furniture and vehicles | 24 | €5,500 | €5,500 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,207,338 | €1,399,686 | +€192,348 | +15.9% |
| Financial fixed assets | 28 | €95,487 | €37,954 | -€57,533 | -60.3% |
| Current assets | 29/58 | €1,011,796 | €975,534 | -€36,262 | -3.6% |
| Stocks and contracts in progress | 3 | €656,244 | €732,377 | +€76,133 | +11.6% |
| Stocks | 30/36 | €656,244 | €732,377 | +€76,133 | +11.6% |
| Amounts receivable within one year | 40/41 | €64,617 | €2,995 | -€61,622 | -95.4% |
| Trade receivables | 40 | €64,543 | €1,664 | -€62,879 | -97.4% |
| Other amounts receivable | 41 | €74 | €1,331 | +€1,258 | +1,706% |
| Current investments | 50/53 | €105,238 | €118,833 | +€13,595 | +12.9% |
| Cash at bank and in hand | 54/58 | €179,867 | €112,699 | -€67,168 | -37.3% |
| Deferred charges and accrued income | 490/1 | €5,831 | €8,630 | +€2,800 | +48.0% |
| Total equity and liabilities | 10/49 | €2,640,666 | €2,740,799 | +€100,133 | +3.8% |
| Equity | 10/15 | €197,856 | €123,821 | -€74,036 | -37.4% |
| Contributions | 10/11 | €270,000 | €270,000 | = | 0.0% |
| Capital | 10 | €270,000 | €270,000 | = | 0.0% |
| Issued capital | 100 | €270,000 | €270,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,144 | -€146,179 | -€74,036 | -103% |
| Amounts payable | 17/49 | €2,442,809 | €2,616,978 | +€174,169 | +7.1% |
| Amounts payable after more than one year | 17 | €1,242,500 | €1,742,500 | +€500,000 | +40.2% |
| Financial debts | 170/4 | €1,242,500 | €1,742,500 | +€500,000 | +40.2% |
| Amounts payable within one year | 42/48 | €1,200,309 | €874,478 | -€325,831 | -27.1% |
| Trade debts | 44 | €459,693 | €186,696 | -€272,997 | -59.4% |
| Suppliers | 440/4 | €459,693 | €186,696 | -€272,997 | -59.4% |
| Taxes, remuneration and social security | 45 | €166,633 | €175,169 | +€8,536 | +5.1% |
| Taxes | 450/3 | €4,276 | €15,230 | +€10,954 | +256% |
| Remuneration and social security | 454/9 | €162,357 | €159,939 | -€2,419 | -1.5% |
| Other amounts payable | 47/48 | €573,983 | €512,613 | -€61,370 | -10.7% |
| Remuneration, social security and pensions | 62 | €776,515 | €1,028,588 | +€252,073 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,741 | - | -€32,741 | |
| Other operating charges | 640/8 | €37,658 | €43,394 | +€5,736 | +15.2% |
| Gross operating margin | 9900 | €878,840 | €1,020,779 | +€141,939 | +16.2% |
| Operating profit (loss) | 9901 | €31,926 | -€51,203 | -€83,129 | |
| Financial income | 75/76B | €545 | €5,827 | +€5,282 | +969% |
| Recurring financial income | 75 | €545 | €5,827 | +€5,282 | +969% |
| Financial charges | 65/66B | €26,049 | €28,421 | +€2,372 | +9.1% |
| Recurring financial charges | 65 | €26,049 | €28,421 | +€2,372 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €6,422 | -€73,797 | -€80,219 | |
| Income taxes | 67/77 | - | €239 | +€239 | |
| Profit (loss) for the period | 9904 | €6,422 | -€74,036 | -€80,458 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,422 | -€74,036 | -€80,458 |
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 14 October 2026 via checked.be.