CATENA: 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.
CATENA
Largest movements
- Stocks and contracts -€304,608
down €304,608 (-67.5%), from €450,962 to €146,354
- Receivables within one year +€218,136
up €218,136 (+30.3%), from €720,445 to €938,581
of which Trade receivables: +€243,500
- Cash +€124,325
up €124,325 (+15.3%), from €810,747 to €935,072
mainly Stocks and contracts (+€304,608) and Net result for the year (+€209,031)
- Reserves +€79,100
up €79,100 (+8.1%), from €974,187 to €1.1m
of which Distributable reserves: +€85,297
- Trade debts -€39,621
down €39,621 (-8.0%), from €497,694 to €458,074
- Tax, wage and social debts -€30,018
down €30,018 (-56.2%), from €53,386 to €23,368
of which Taxes: -€28,953
- Gross operating margin -€120,496
down €120,496 (-22.6%), from €532,606 to €412,111
- Financial income +€31,391
up €31,391 (+1519.7%), from €2,066 to €33,456
of which Non-recurring financial income: +€28,535
- Taxes -€29,111
down €29,111 (-23.1%), from €126,169 to €97,059
- Depreciation -€10,755
down €10,755 (-92.3%), from €11,648 to €893
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 | €1,984,062 | €2,021,021 | +€36,959 | +1.9% |
| Fixed assets | 21/28 | €1,908 | €1,014 | -€893 | -46.8% |
| Tangible fixed assets | 22/27 | €1,456 | €563 | -€893 | -61.4% |
| Plant, machinery and equipment | 23 | €785 | €318 | -€468 | -59.5% |
| Furniture and vehicles | 24 | €671 | €245 | -€426 | -63.5% |
| Financial fixed assets | 28 | €452 | €452 | = | 0.0% |
| Current assets | 29/58 | €1,982,154 | €2,020,007 | +€37,853 | +1.9% |
| Stocks and contracts in progress | 3 | €450,962 | €146,354 | -€304,608 | -67.5% |
| Stocks | 30/36 | €450,962 | €146,354 | -€304,608 | -67.5% |
| Amounts receivable within one year | 40/41 | €720,445 | €938,581 | +€218,136 | +30.3% |
| Trade receivables | 40 | €657,330 | €900,830 | +€243,500 | +37.0% |
| Other amounts receivable | 41 | €63,115 | €37,751 | -€25,364 | -40.2% |
| Cash at bank and in hand | 54/58 | €810,747 | €935,072 | +€124,325 | +15.3% |
| Total equity and liabilities | 10/49 | €1,984,062 | €2,021,021 | +€36,959 | +1.9% |
| Equity | 10/15 | €1,263,718 | €1,351,849 | +€88,131 | +7.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Outside capital | 11 | €61,973 | - | -€61,973 | |
| Other | 1109/19 | €61,973 | - | -€61,973 | |
| Reserves | 13 | €974,187 | €1,053,287 | +€79,100 | +8.1% |
| Non-distributable reserves | 130/1 | €6,197 | €0 | -€6,197 | -100.0% |
| Legal reserve | 130 | €6,197 | - | -€6,197 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €967,990 | €1,053,287 | +€85,297 | +8.8% |
| Profit (loss) carried forward | 14 | €227,557 | €236,588 | +€9,031 | +4.0% |
| Amounts payable | 17/49 | €720,343 | €669,172 | -€51,172 | -7.1% |
| Amounts payable within one year | 42/48 | €720,343 | €669,172 | -€51,172 | -7.1% |
| Financial debts | 43 | €66,898 | €66,830 | -€68 | -0.1% |
| Credit institutions | 430/8 | €66,898 | €66,830 | -€68 | -0.1% |
| Trade debts | 44 | €497,694 | €458,074 | -€39,621 | -8.0% |
| Suppliers | 440/4 | €497,694 | €458,074 | -€39,621 | -8.0% |
| Taxes, remuneration and social security | 45 | €53,386 | €23,368 | -€30,018 | -56.2% |
| Taxes | 450/3 | €46,136 | €17,183 | -€28,953 | -62.8% |
| Remuneration and social security | 454/9 | €7,249 | €6,185 | -€1,065 | -14.7% |
| Other amounts payable | 47/48 | €102,365 | €120,900 | +€18,535 | +18.1% |
| Remuneration, social security and pensions | 62 | €106,067 | €110,639 | +€4,572 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,648 | €893 | -€10,755 | -92.3% |
| Other operating charges | 640/8 | €1,138 | €1,560 | +€422 | +37.0% |
| Gross operating margin | 9900 | €532,606 | €412,111 | -€120,496 | -22.6% |
| Operating profit (loss) | 9901 | €413,753 | €299,018 | -€114,735 | -27.7% |
| Financial income | 75/76B | €2,066 | €33,456 | +€31,391 | +1519.7% |
| Recurring financial income | 75 | €2,066 | €4,921 | +€2,856 | +138.2% |
| Non-recurring financial income | 76B | - | €28,535 | +€28,535 | |
| Financial charges | 65/66B | €23,592 | €26,384 | +€2,793 | +11.8% |
| Recurring financial charges | 65 | €23,592 | €26,265 | +€2,673 | +11.3% |
| Non-recurring financial charges | 66B | - | €119 | +€119 | |
| Profit (loss) for the period before taxes | 9903 | €392,227 | €306,090 | -€86,137 | -22.0% |
| Income taxes | 67/77 | €126,169 | €97,059 | -€29,111 | -23.1% |
| Profit (loss) for the period | 9904 | €266,057 | €209,031 | -€57,026 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €266,057 | €209,031 | -€57,026 | -21.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.