CATALPA: 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.
CATALPA
Largest movements
- Current investments -€616,378
no longer reported in 2025 (was €616,378)
- Cash +€517,681
up €517,681 (+524.6%), from €98,685 to €616,366
mainly Current investments (+€616,378) and Depreciation (+€217,901)
- Tangible fixed assets -€217,901
down €217,901 (-2.9%), from €7.6m to €7.4m
of which Land and buildings: -€190,664
- Reserves -€164,721
down €164,721 (-16.8%), from €977,812 to €813,091
of which Distributable reserves: -€144,948
- Debts after one year -€141,209
down €141,209 (-9.6%), from €1.5m to €1.3m
- Depreciation -€473,219
down €473,219 (-68.5%), from €691,120 to €217,901
- Gross operating margin +€124,470
up €124,470 (+33.2%), from €374,697 to €499,167
- Financial income -€33,933
down €33,933 (-99.9%), from €33,955 to €22
- Financial charges -€12,101
down €12,101 (-5.2%), from €234,653 to €222,551
- Other operating charges +€11,048
up €11,048 (+41.6%), from €26,571 to €37,619
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 | €8,320,949 | €8,030,682 | -€290,267 | -3.5% |
| Fixed assets | 21/28 | €7,573,732 | €7,355,831 | -€217,901 | -2.9% |
| Tangible fixed assets | 22/27 | €7,573,732 | €7,355,831 | -€217,901 | -2.9% |
| Land and buildings | 22 | €7,471,947 | €7,281,283 | -€190,664 | -2.6% |
| Furniture and vehicles | 24 | €101,785 | €74,548 | -€27,237 | -26.8% |
| Current assets | 29/58 | €747,216 | €674,850 | -€72,366 | -9.7% |
| Amounts receivable within one year | 40/41 | €32,153 | €13,940 | -€18,214 | -56.6% |
| Trade receivables | 40 | €22,414 | €4,200 | -€18,214 | -81.3% |
| Other amounts receivable | 41 | €9,739 | €9,739 | = | 0.0% |
| Current investments | 50/53 | €616,378 | - | -€616,378 | |
| Cash at bank and in hand | 54/58 | €98,685 | €616,366 | +€517,681 | +524.6% |
| Deferred charges and accrued income | 490/1 | - | €44,545 | +€44,545 | |
| Total equity and liabilities | 10/49 | €8,320,949 | €8,030,682 | -€290,267 | -3.5% |
| Equity | 10/15 | €3,160,038 | €3,042,792 | -€117,246 | -3.7% |
| Contributions | 10/11 | €2,700,000 | €2,700,000 | = | 0.0% |
| Reserves | 13 | €977,812 | €813,091 | -€164,721 | -16.8% |
| Non-distributable reserves | 130/1 | €19,773 | €19,773 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,773 | €19,773 | = | 0.0% |
| Tax-exempt reserves | 132 | €583,465 | €563,691 | -€19,773 | -3.4% |
| Distributable reserves | 133 | €374,575 | €229,627 | -€144,948 | -38.7% |
| Profit (loss) carried forward | 14 | -€517,774 | -€470,298 | +€47,476 | +9.2% |
| Provisions and deferred taxes | 16 | €194,488 | €187,897 | -€6,591 | -3.4% |
| Deferred taxes | 168 | €194,488 | €187,897 | -€6,591 | -3.4% |
| Amounts payable | 17/49 | €4,966,423 | €4,799,992 | -€166,430 | -3.4% |
| Amounts payable after more than one year | 17 | €1,476,864 | €1,335,655 | -€141,209 | -9.6% |
| Financial debts | 170/4 | €1,476,864 | €1,335,655 | -€141,209 | -9.6% |
| Amounts payable within one year | 42/48 | €3,488,641 | €3,464,335 | -€24,307 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €157,319 | €141,209 | -€16,110 | -10.2% |
| Trade debts | 44 | €96 | €4,277 | +€4,181 | +4354.8% |
| Suppliers | 440/4 | €96 | €4,277 | +€4,181 | +4354.8% |
| Other amounts payable | 47/48 | €3,331,227 | €3,318,849 | -€12,378 | -0.4% |
| Accrued charges and deferred income | 492/3 | €917 | €3 | -€914 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €691,120 | €217,901 | -€473,219 | -68.5% |
| Other operating charges | 640/8 | €26,571 | €37,619 | +€11,048 | +41.6% |
| Gross operating margin | 9900 | €374,697 | €499,167 | +€124,470 | +33.2% |
| Operating profit (loss) | 9901 | -€342,994 | €243,647 | +€586,641 | |
| Financial income | 75/76B | €33,955 | €22 | -€33,933 | -99.9% |
| Recurring financial income | 75 | €33,955 | €22 | -€33,933 | -99.9% |
| Financial charges | 65/66B | €234,653 | €222,551 | -€12,101 | -5.2% |
| Recurring financial charges | 65 | €234,653 | €222,551 | -€12,101 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | -€543,691 | €21,118 | +€564,809 | |
| Transfer from deferred taxes | 780 | €6,591 | €6,591 | = | 0.0% |
| Income taxes | 67/77 | €447 | €7 | -€441 | -98.5% |
| Profit (loss) for the period | 9904 | -€537,547 | €27,703 | +€565,250 | |
| Transfer from tax-exempt reserves | 789 | €19,773 | €19,773 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€517,774 | €47,476 | +€565,250 |
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 12 October 2026 via checked.be.