CATENUS: 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.
CATENUS
Largest movements
- Cash +€92,898
up €92,898 (+245.7%), from €37,816 to €130,714
mainly Net result for the year (+€104,131) and Tax, wage and social debts (+€23,585)
- Receivables within one year +€23,732
up €23,732 (+43.6%), from €54,450 to €78,182
of which Trade receivables: +€15,428
- Tangible fixed assets +€12,705
up €12,705 (+1408.8%), from €902 to €13,607
- Reserves +€72,327
up €72,327 (+3888.6%), from €1,860 to €74,187
of which Distributable reserves: +€72,327
- Profit (loss) carried forward +€31,804
no longer reported in 2025 (was -€31,804)
- Tax, wage and social debts +€23,585
up €23,585 (+140.4%), from €16,797 to €40,382
- Other debts +€4,439
up €4,439 (+4.6%), from €96,996 to €101,435
- Trade debts -€2,819
no longer reported in 2025 (was €2,819)
- Gross operating margin +€71,535
up €71,535 (+101.6%), from €70,421 to €141,955
- Taxes +€27,937
up €27,937 (+8812.0%), from €317 to €28,255
- Other operating charges +€2,873
up €2,873 (+337.0%), from €852 to €3,725
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 | €93,168 | €222,504 | +€129,336 | +138.8% |
| Fixed assets | 21/28 | €902 | €13,607 | +€12,705 | +1408.8% |
| Tangible fixed assets | 22/27 | €902 | €13,607 | +€12,705 | +1408.8% |
| Furniture and vehicles | 24 | €902 | €13,607 | +€12,705 | +1408.8% |
| Current assets | 29/58 | €92,266 | €208,897 | +€116,631 | +126.4% |
| Amounts receivable within one year | 40/41 | €54,450 | €78,182 | +€23,732 | +43.6% |
| Trade receivables | 40 | €54,450 | €69,878 | +€15,428 | +28.3% |
| Other amounts receivable | 41 | - | €8,305 | +€8,305 | |
| Cash at bank and in hand | 54/58 | €37,816 | €130,714 | +€92,898 | +245.7% |
| Total equity and liabilities | 10/49 | €93,168 | €222,504 | +€129,336 | +138.8% |
| Equity | 10/15 | -€23,444 | €80,687 | +€104,131 | |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €1,860 | €74,187 | +€72,327 | +3888.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €72,327 | +€72,327 | |
| Profit (loss) carried forward | 14 | -€31,804 | - | +€31,804 | |
| Amounts payable | 17/49 | €116,612 | €141,817 | +€25,205 | +21.6% |
| Amounts payable within one year | 42/48 | €116,612 | €141,817 | +€25,205 | +21.6% |
| Trade debts | 44 | €2,819 | - | -€2,819 | |
| Suppliers | 440/4 | €2,819 | - | -€2,819 | |
| Taxes, remuneration and social security | 45 | €16,797 | €40,382 | +€23,585 | +140.4% |
| Taxes | 450/3 | €16,797 | €40,382 | +€23,585 | +140.4% |
| Other amounts payable | 47/48 | €96,996 | €101,435 | +€4,439 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,747 | €3,045 | +€1,299 | +74.3% |
| Other operating charges | 640/8 | €852 | €3,725 | +€2,873 | +337.0% |
| Gross operating margin | 9900 | €70,421 | €141,955 | +€71,535 | +101.6% |
| Operating profit (loss) | 9901 | €67,822 | €135,185 | +€67,363 | +99.3% |
| Financial charges | 65/66B | €2,450 | €2,799 | +€349 | +14.2% |
| Recurring financial charges | 65 | €2,450 | €2,799 | +€349 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €65,372 | €132,386 | +€67,014 | +102.5% |
| Income taxes | 67/77 | €317 | €28,255 | +€27,937 | +8812.0% |
| Profit (loss) for the period | 9904 | €65,054 | €104,131 | +€39,077 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €65,054 | €104,131 | +€39,077 | +60.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.