CATENA CONSULT: 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.
CATENA CONSULT
Largest movements
- Tangible fixed assets -€25,199
down €25,199 (-6.2%), from €406,499 to €381,300
of which Furniture and vehicles: -€15,031
- Deferred charges and accrued income +€15,276
up €15,276 (+422%), from €3,620 to €18,896
- Financial fixed assets +€6,570
up €6,570 (+85.2%), from €7,710 to €14,280
- Cash +€5,659
up €5,659 (+15.1%), from €37,516 to €43,175
mainly Trade debts (+€38,218) and Depreciation (+€35,420)
- Trade debts +€38,218
up €38,218 (+101%), from €37,697 to €75,916
- Debts after one year -€24,067
down €24,067 (-54.0%), from €44,567 to €20,500
- Other debts -€18,020
down €18,020 (-21.3%), from €84,625 to €66,606
- Reserves +€13,285
up €13,285 (+4.3%), from €305,595 to €318,880
of which Distributable reserves: +€13,285
- Gross operating margin +€4,424
up €4,424 (+6.7%), from €66,331 to €70,755
- Taxes +€1,563
up €1,563 (+27.9%), from €5,604 to €7,166
- Depreciation -€938
down €938 (-2.6%), from €36,358 to €35,420
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 | €522,459 | €529,643 | +€7,184 | +1.4% |
| Fixed assets | 21/28 | €414,209 | €395,580 | -€18,629 | -4.5% |
| Tangible fixed assets | 22/27 | €406,499 | €381,300 | -€25,199 | -6.2% |
| Land and buildings | 22 | €305,224 | €294,887 | -€10,336 | -3.4% |
| Plant, machinery and equipment | 23 | €1,469 | €8,644 | +€7,175 | +488% |
| Furniture and vehicles | 24 | €38,180 | €23,149 | -€15,031 | -39.4% |
| Other tangible fixed assets | 26 | €61,626 | €54,619 | -€7,007 | -11.4% |
| Financial fixed assets | 28 | €7,710 | €14,280 | +€6,570 | +85.2% |
| Current assets | 29/58 | €108,250 | €134,063 | +€25,813 | +23.8% |
| Amounts receivable within one year | 40/41 | €67,113 | €71,992 | +€4,879 | +7.3% |
| Trade receivables | 40 | €66,455 | €70,869 | +€4,414 | +6.6% |
| Other amounts receivable | 41 | €659 | €1,124 | +€465 | +70.6% |
| Cash at bank and in hand | 54/58 | €37,516 | €43,175 | +€5,659 | +15.1% |
| Deferred charges and accrued income | 490/1 | €3,620 | €18,896 | +€15,276 | +422% |
| Total equity and liabilities | 10/49 | €522,459 | €529,643 | +€7,184 | +1.4% |
| Equity | 10/15 | €311,795 | €325,080 | +€13,285 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €305,595 | €318,880 | +€13,285 | +4.3% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €295,595 | €308,880 | +€13,285 | +4.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €210,664 | €204,562 | -€6,101 | -2.9% |
| Amounts payable after more than one year | 17 | €44,567 | €20,500 | -€24,067 | -54.0% |
| Financial debts | 170/4 | €44,567 | €20,500 | -€24,067 | -54.0% |
| Amounts payable within one year | 42/48 | €159,620 | €178,637 | +€19,016 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €24,067 | €24,067 | = | 0.0% |
| Financial debts | 43 | €1,990 | €0 | -€1,990 | -100% |
| Credit institutions | 430/8 | €1,990 | €0 | -€1,990 | -100% |
| Trade debts | 44 | €37,697 | €75,916 | +€38,218 | +101% |
| Suppliers | 440/4 | €37,697 | €75,916 | +€38,218 | +101% |
| Taxes, remuneration and social security | 45 | €11,242 | €12,049 | +€807 | +7.2% |
| Taxes | 450/3 | €11,242 | €12,049 | +€807 | +7.2% |
| Other amounts payable | 47/48 | €84,625 | €66,606 | -€18,020 | -21.3% |
| Accrued charges and deferred income | 492/3 | €6,477 | €5,426 | -€1,051 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,358 | €35,420 | -€938 | -2.6% |
| Other operating charges | 640/8 | €4,041 | €3,593 | -€448 | -11.1% |
| Gross operating margin | 9900 | €66,331 | €70,755 | +€4,424 | +6.7% |
| Operating profit (loss) | 9901 | €25,932 | €31,743 | +€5,811 | +22.4% |
| Financial income | 75/76B | €8 | €1 | -€7 | -88.2% |
| Recurring financial income | 75 | €8 | €1 | -€7 | -88.2% |
| Financial charges | 65/66B | €11,333 | €11,292 | -€40 | -0.4% |
| Recurring financial charges | 65 | €11,333 | €11,292 | -€40 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €14,607 | €20,452 | +€5,845 | +40.0% |
| Income taxes | 67/77 | €5,604 | €7,166 | +€1,563 | +27.9% |
| Profit (loss) for the period | 9904 | €9,003 | €13,285 | +€4,282 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,003 | €13,285 | +€4,282 | +47.6% |
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 24 October 2026 via checked.be.