CATAEL: 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.
CATAEL
Largest movements
- Tangible fixed assets +€619,983
up €619,983 (+29.6%), from €2.1m to €2.7m
of which Plant, machinery and equipment: +€663,900
- Stocks and contracts +€505,652
up €505,652 (+140.7%), from €359,270 to €864,922
of which Contracts in progress: +€500,000
- Receivables within one year +€492,866
up €492,866 (+33.1%), from €1.5m to €2.0m
of which Trade receivables: +€465,700
- Current investments -€350,000
down €350,000 (-46.7%), from €750,000 to €400,000
- Cash +€134,981
up €134,981 (+35.4%), from €381,041 to €516,022
mainly Net result for the year (+€931,968) and Trade debts (+€368,524)
- Reserves +€931,000
up €931,000 (+37.9%), from €2.5m to €3.4m
of which Distributable reserves: +€510,000
- Trade debts +€368,524
up €368,524 (+91.2%), from €404,131 to €772,655
- Tax, wage and social debts +€116,659
up €116,659 (+23.2%), from €503,861 to €620,520
of which Remuneration and social security: +€68,248
- Other debts -€95,569
down €95,569 (-47.5%), from €201,020 to €105,451
- Gross operating margin +€780,089
up €780,089 (+21.5%), from €3.6m to €4.4m
- Staff costs +€475,219
up €475,219 (+20.4%), from €2.3m to €2.8m
- Depreciation +€100,653
up €100,653 (+60.3%), from €166,876 to €267,528
- Taxes +€47,856
up €47,856 (+17.9%), from €266,842 to €314,698
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 | €5,099,513 | €6,496,547 | +€1.4m | +27.4% |
| Fixed assets | 21/28 | €2,105,024 | €2,714,917 | +€609,893 | +29.0% |
| Tangible fixed assets | 22/27 | €2,094,934 | €2,714,917 | +€619,983 | +29.6% |
| Land and buildings | 22 | €1,477,290 | €1,452,155 | -€25,134 | -1.7% |
| Plant, machinery and equipment | 23 | €569,161 | €1,233,061 | +€663,900 | +116.6% |
| Furniture and vehicles | 24 | €48,483 | €29,701 | -€18,783 | -38.7% |
| Financial fixed assets | 28 | €10,090 | - | -€10,090 | |
| Current assets | 29/58 | €2,994,489 | €3,781,630 | +€787,142 | +26.3% |
| Stocks and contracts in progress | 3 | €359,270 | €864,922 | +€505,652 | +140.7% |
| Stocks | 30/36 | €359,270 | €364,922 | +€5,652 | +1.6% |
| Contracts in progress | 37 | - | €500,000 | +€500,000 | |
| Amounts receivable within one year | 40/41 | €1,488,353 | €1,981,219 | +€492,866 | +33.1% |
| Trade receivables | 40 | €1,461,353 | €1,927,053 | +€465,700 | +31.9% |
| Other amounts receivable | 41 | €27,000 | €54,166 | +€27,166 | +100.6% |
| Current investments | 50/53 | €750,000 | €400,000 | -€350,000 | -46.7% |
| Cash at bank and in hand | 54/58 | €381,041 | €516,022 | +€134,981 | +35.4% |
| Deferred charges and accrued income | 490/1 | €15,825 | €19,467 | +€3,643 | +23.0% |
| Total equity and liabilities | 10/49 | €5,099,513 | €6,496,547 | +€1.4m | +27.4% |
| Equity | 10/15 | €2,477,919 | €3,409,887 | +€931,968 | +37.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,456,780 | €3,387,780 | +€931,000 | +37.9% |
| Tax-exempt reserves | 132 | €496,780 | €917,780 | +€421,000 | +84.7% |
| Distributable reserves | 133 | €1,960,000 | €2,470,000 | +€510,000 | +26.0% |
| Profit (loss) carried forward | 14 | €2,539 | €3,507 | +€968 | +38.1% |
| Amounts payable | 17/49 | €2,621,594 | €3,086,660 | +€465,066 | +17.7% |
| Amounts payable after more than one year | 17 | €1,395,084 | €1,451,390 | +€56,306 | +4.0% |
| Financial debts | 170/4 | €1,395,084 | €1,451,390 | +€56,306 | +4.0% |
| Amounts payable within one year | 42/48 | €1,226,510 | €1,635,270 | +€408,760 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €117,498 | €136,644 | +€19,146 | +16.3% |
| Trade debts | 44 | €404,131 | €772,655 | +€368,524 | +91.2% |
| Suppliers | 440/4 | €404,131 | €772,655 | +€368,524 | +91.2% |
| Taxes, remuneration and social security | 45 | €503,861 | €620,520 | +€116,659 | +23.2% |
| Taxes | 450/3 | €89,030 | €137,441 | +€48,411 | +54.4% |
| Remuneration and social security | 454/9 | €414,831 | €483,079 | +€68,248 | +16.5% |
| Other amounts payable | 47/48 | €201,020 | €105,451 | -€95,569 | -47.5% |
| Remuneration, social security and pensions | 62 | €2,332,115 | €2,807,334 | +€475,219 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,876 | €267,528 | +€100,653 | +60.3% |
| Other operating charges | 640/8 | €14,309 | €17,283 | +€2,974 | +20.8% |
| Gross operating margin | 9900 | €3,626,389 | €4,406,479 | +€780,089 | +21.5% |
| Operating profit (loss) | 9901 | €1,113,089 | €1,314,332 | +€201,243 | +18.1% |
| Financial income | 75/76B | €14,212 | €30,493 | +€16,281 | +114.6% |
| Recurring financial income | 75 | €14,212 | €30,493 | +€16,281 | +114.6% |
| Financial charges | 65/66B | €70,132 | €98,159 | +€28,026 | +40.0% |
| Recurring financial charges | 65 | €70,132 | €98,159 | +€28,026 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €1,057,169 | €1,246,666 | +€189,498 | +17.9% |
| Income taxes | 67/77 | €266,842 | €314,698 | +€47,856 | +17.9% |
| Profit (loss) for the period | 9904 | €790,326 | €931,968 | +€141,642 | +17.9% |
| Transfer to tax-exempt reserves | 689 | €391,530 | €421,000 | +€29,470 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €398,796 | €510,968 | +€112,172 | +28.1% |
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 9 October 2026 via checked.be.