CATALPA MGMT: 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 MGMT
Largest movements
- Tangible fixed assets +€63,519
up €63,519 (+618%), from €10,271 to €73,790
of which Land and buildings: +€57,619
- Cash -€48,652
down €48,652 (-69.8%), from €69,678 to €21,026
mainly Contributions, distributions and other (-€79,772) and Investment in fixed assets (net) (-€70,477)
- Receivables within one year +€6,954
up €6,954 (+42.8%), from €16,267 to €23,221
of which Trade receivables: +€4,862
- Other debts +€22,397
up €22,397 (+32.1%), from €69,736 to €92,133
- Accrued charges and deferred income -€3,000
no longer reported in 2025 (was €3,000)
- Trade debts +€1,750
up €1,750 (+555%), from €315 to €2,066
- Depreciation -€6,607
down €6,607 (-48.7%), from €13,565 to €6,959
- Gross operating margin -€3,150
down €3,150 (-2.8%), from €112,118 to €108,967
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 | €97,308 | €118,962 | +€21,654 | +22.3% |
| Fixed assets | 21/28 | €10,271 | €73,790 | +€63,519 | +618% |
| Tangible fixed assets | 22/27 | €10,271 | €73,790 | +€63,519 | +618% |
| Land and buildings | 22 | - | €57,619 | +€57,619 | |
| Plant, machinery and equipment | 23 | €590 | €1,417 | +€826 | +140% |
| Furniture and vehicles | 24 | €9,681 | €14,754 | +€5,073 | +52.4% |
| Current assets | 29/58 | €87,037 | €45,172 | -€41,865 | -48.1% |
| Amounts receivable within one year | 40/41 | €16,267 | €23,221 | +€6,954 | +42.8% |
| Trade receivables | 40 | €13,716 | €18,578 | +€4,862 | +35.4% |
| Other amounts receivable | 41 | €2,551 | €4,643 | +€2,093 | +82.0% |
| Cash at bank and in hand | 54/58 | €69,678 | €21,026 | -€48,652 | -69.8% |
| Deferred charges and accrued income | 490/1 | €1,092 | €925 | -€167 | -15.3% |
| Total equity and liabilities | 10/49 | €97,308 | €118,962 | +€21,654 | +22.3% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €94,308 | €115,962 | +€21,654 | +23.0% |
| Amounts payable within one year | 42/48 | €91,308 | €115,962 | +€24,654 | +27.0% |
| Trade debts | 44 | €315 | €2,066 | +€1,750 | +555% |
| Suppliers | 440/4 | €315 | €2,066 | +€1,750 | +555% |
| Taxes, remuneration and social security | 45 | €21,257 | €21,763 | +€507 | +2.4% |
| Taxes | 450/3 | €21,257 | €21,763 | +€507 | +2.4% |
| Other amounts payable | 47/48 | €69,736 | €92,133 | +€22,397 | +32.1% |
| Accrued charges and deferred income | 492/3 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,565 | €6,959 | -€6,607 | -48.7% |
| Other operating charges | 640/8 | €1,314 | €1,271 | -€43 | -3.3% |
| Non-recurring operating charges | 66A | - | €590 | +€590 | |
| Gross operating margin | 9900 | €112,118 | €108,967 | -€3,150 | -2.8% |
| Operating profit (loss) | 9901 | €97,239 | €100,147 | +€2,909 | +3.0% |
| Financial income | 75/76B | €271 | €132 | -€139 | -51.3% |
| Recurring financial income | 75 | €271 | €132 | -€139 | -51.3% |
| Financial charges | 65/66B | €197 | €876 | +€678 | +343% |
| Recurring financial charges | 65 | €197 | €876 | +€678 | +343% |
| Profit (loss) for the period before taxes | 9903 | €97,312 | €99,404 | +€2,092 | +2.1% |
| Income taxes | 67/77 | €20,725 | €19,632 | -€1,094 | -5.3% |
| Profit (loss) for the period | 9904 | €76,587 | €79,772 | +€3,185 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €76,587 | €79,772 | +€3,185 | +4.2% |
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 31 October 2026 via checked.be.