CATHERINE: 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.
CATHERINE
Largest movements
- Current investments +€758,195
up €758,195 (+22.7%), from €3.3m to €4.1m
- Cash +€76,115
up €76,115 (+143.0%), from €53,231 to €129,345
mainly Net result for the year (+€705,256) and Tax, wage and social debts (+€68,558)
- Reserves +€705,256
up €705,256 (+19.3%), from €3.6m to €4.4m
- Tax, wage and social debts +€68,558
up €68,558 (+189.6%), from €36,161 to €104,719
of which Taxes: +€71,860
- Gross operating margin +€137,912
up €137,912 (+17.1%), from €806,789 to €944,701
- Taxes +€47,542
up €47,542 (+17.2%), from €276,468 to €324,010
- Financial income +€11,313
up €11,313 (+11.2%), from €100,564 to €111,876
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 | €3,707,495 | €4,491,669 | +€784,174 | +21.2% |
| Fixed assets | 21/28 | €261,969 | €240,283 | -€21,686 | -8.3% |
| Tangible fixed assets | 22/27 | €261,969 | €240,283 | -€21,686 | -8.3% |
| Land and buildings | 22 | €199,744 | €192,608 | -€7,136 | -3.6% |
| Plant, machinery and equipment | 23 | €198 | €2,230 | +€2,032 | +1028.8% |
| Furniture and vehicles | 24 | €62,027 | €45,445 | -€16,582 | -26.7% |
| Current assets | 29/58 | €3,445,526 | €4,251,386 | +€805,860 | +23.4% |
| Amounts receivable within one year | 40/41 | €28,061 | €79 | -€27,983 | -99.7% |
| Trade receivables | 40 | €28,061 | €79 | -€27,983 | -99.7% |
| Current investments | 50/53 | €3,333,514 | €4,091,710 | +€758,195 | +22.7% |
| Cash at bank and in hand | 54/58 | €53,231 | €129,345 | +€76,115 | +143.0% |
| Deferred charges and accrued income | 490/1 | €30,720 | €30,253 | -€467 | -1.5% |
| Total equity and liabilities | 10/49 | €3,707,495 | €4,491,669 | +€784,174 | +21.2% |
| Equity | 10/15 | €3,666,174 | €4,371,430 | +€705,256 | +19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,647,574 | €4,352,830 | +€705,256 | +19.3% |
| Distributable reserves | 133 | €3,647,574 | €4,352,830 | +€705,256 | +19.3% |
| Amounts payable | 17/49 | €41,321 | €120,239 | +€78,918 | +191.0% |
| Amounts payable within one year | 42/48 | €39,744 | €114,079 | +€74,335 | +187.0% |
| Trade debts | 44 | €1,922 | €1,207 | -€715 | -37.2% |
| Suppliers | 440/4 | €1,922 | €1,207 | -€715 | -37.2% |
| Taxes, remuneration and social security | 45 | €36,161 | €104,719 | +€68,558 | +189.6% |
| Taxes | 450/3 | €32,859 | €104,719 | +€71,860 | +218.7% |
| Remuneration and social security | 454/9 | €3,302 | €0 | -€3,302 | -100.0% |
| Other amounts payable | 47/48 | €1,661 | €8,153 | +€6,492 | +390.9% |
| Accrued charges and deferred income | 492/3 | €1,577 | €6,160 | +€4,582 | +290.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,784 | €24,348 | +€563 | +2.4% |
| Other operating charges | 640/8 | €2,605 | €2,636 | +€31 | +1.2% |
| Gross operating margin | 9900 | €806,789 | €944,701 | +€137,912 | +17.1% |
| Operating profit (loss) | 9901 | €780,400 | €917,717 | +€137,317 | +17.6% |
| Financial income | 75/76B | €100,564 | €111,876 | +€11,313 | +11.2% |
| Recurring financial income | 75 | €100,564 | €111,876 | +€11,313 | +11.2% |
| Financial charges | 65/66B | €1,824 | €328 | -€1,496 | -82.0% |
| Recurring financial charges | 65 | €1,824 | €328 | -€1,496 | -82.0% |
| Profit (loss) for the period before taxes | 9903 | €879,140 | €1,029,266 | +€150,126 | +17.1% |
| Income taxes | 67/77 | €276,468 | €324,010 | +€47,542 | +17.2% |
| Profit (loss) for the period | 9904 | €602,672 | €705,256 | +€102,584 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €602,672 | €705,256 | +€102,584 | +17.0% |
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 8 October 2026 via checked.be.