CATENO: 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.
CATENO
Largest movements
- Current investments +€59,680
new in 2025: €59,680
- Cash -€6,900
down €6,900 (-3.9%), from €178,858 to €171,959
mainly Current investments (-€59,680) and Investment in fixed assets (net) (-€4,637)
- Tangible fixed assets -€3,985
down €3,985 (-15.3%), from €26,002 to €22,016
- Reserves +€39,000
up €39,000 (+2,097%), from €1,860 to €40,860
- Tax, wage and social debts +€9,129
up €9,129 (+61.8%), from €14,773 to €23,902
of which Remuneration and social security: +€13,750
- Gross operating margin +€16,688
up €16,688 (+31.3%), from €53,269 to €69,956
- Taxes +€6,881
up €6,881 (+79.0%), from €8,711 to €15,592
- Financial charges +€1,154
up €1,154 (+30.3%), from €3,809 to €4,963
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 | €238,063 | €285,294 | +€47,231 | +19.8% |
| Fixed assets | 21/28 | €26,002 | €22,016 | -€3,985 | -15.3% |
| Tangible fixed assets | 22/27 | €26,002 | €22,016 | -€3,985 | -15.3% |
| Furniture and vehicles | 24 | €26,002 | €22,016 | -€3,985 | -15.3% |
| Current assets | 29/58 | €212,061 | €263,278 | +€51,216 | +24.2% |
| Amounts receivable within one year | 40/41 | €29,453 | €27,805 | -€1,648 | -5.6% |
| Trade receivables | 40 | €28,618 | €27,805 | -€813 | -2.8% |
| Other amounts receivable | 41 | €835 | €0 | -€835 | -100% |
| Current investments | 50/53 | - | €59,680 | +€59,680 | |
| Cash at bank and in hand | 54/58 | €178,858 | €171,959 | -€6,900 | -3.9% |
| Deferred charges and accrued income | 490/1 | €3,750 | €3,834 | +€84 | +2.2% |
| Total equity and liabilities | 10/49 | €238,063 | €285,294 | +€47,231 | +19.8% |
| Equity | 10/15 | €141,248 | €180,882 | +€39,634 | +28.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €40,860 | +€39,000 | +2,097% |
| Distributable reserves | 133 | €1,860 | €40,860 | +€39,000 | +2,097% |
| Profit (loss) carried forward | 14 | €120,788 | €121,422 | +€634 | +0.5% |
| Amounts payable | 17/49 | €96,815 | €104,412 | +€7,597 | +7.8% |
| Amounts payable within one year | 42/48 | €96,815 | €104,412 | +€7,597 | +7.8% |
| Financial debts | 43 | €435 | €525 | +€90 | +20.6% |
| Other loans | 439 | €435 | €525 | +€90 | +20.6% |
| Trade debts | 44 | €1,760 | €2,768 | +€1,008 | +57.3% |
| Suppliers | 440/4 | €1,760 | €2,768 | +€1,008 | +57.3% |
| Taxes, remuneration and social security | 45 | €14,773 | €23,902 | +€9,129 | +61.8% |
| Taxes | 450/3 | €14,773 | €10,152 | -€4,621 | -31.3% |
| Remuneration and social security | 454/9 | €0 | €13,750 | +€13,750 | |
| Other amounts payable | 47/48 | €79,847 | €77,218 | -€2,629 | -3.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,159 | €8,622 | +€463 | +5.7% |
| Other operating charges | 640/8 | €1,174 | €1,153 | -€21 | -1.8% |
| Gross operating margin | 9900 | €53,269 | €69,956 | +€16,688 | +31.3% |
| Operating profit (loss) | 9901 | €43,936 | €60,181 | +€16,245 | +37.0% |
| Financial income | 75/76B | €0 | €8 | +€8 | |
| Recurring financial income | 75 | €0 | €8 | +€8 | |
| Financial charges | 65/66B | €3,809 | €4,963 | +€1,154 | +30.3% |
| Recurring financial charges | 65 | €3,809 | €4,963 | +€1,154 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €40,127 | €55,226 | +€15,099 | +37.6% |
| Income taxes | 67/77 | €8,711 | €15,592 | +€6,881 | +79.0% |
| Profit (loss) for the period | 9904 | €31,417 | €39,634 | +€8,217 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,417 | €39,634 | +€8,217 | +26.2% |
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 18 October 2026 via checked.be.