CATHODICA: 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.
CATHODICA
Largest movements
- Cash -€15,720
down €15,720 (-10.8%), from €145,553 to €129,833
mainly Other debts (-€33,659) and Tax, wage and social debts (-€11,258)
- Tangible fixed assets -€8,234
down €8,234 (-60.7%), from €13,565 to €5,331
of which Furniture and vehicles: -€7,759
- Stocks and contracts -€2,247
down €2,247 (-36.7%), from €6,131 to €3,884
- Other debts -€33,659
down €33,659 (-65.7%), from €51,198 to €17,539
- Reserves +€25,825
up €25,825 (+35.0%), from €73,859 to €99,684
of which Distributable reserves: +€25,825
- Tax, wage and social debts -€11,258
down €11,258 (-75.0%), from €15,013 to €3,755
of which Taxes: -€10,294
- Debts after one year -€5,443
down €5,443 (-100%), from €5,443 to €0
- Gross operating margin -€41,406
down €41,406 (-46.6%), from €88,766 to €47,360
- Staff costs -€14,453
down €14,453 (-99.4%), from €14,534 to €82
- Taxes -€6,004
down €6,004 (-35.3%), from €17,008 to €11,003
- Other operating charges -€4,170
down €4,170 (-68.6%), from €6,080 to €1,910
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 | €173,671 | €148,807 | -€24,864 | -14.3% |
| Fixed assets | 21/28 | €13,590 | €5,356 | -€8,234 | -60.6% |
| Tangible fixed assets | 22/27 | €13,565 | €5,331 | -€8,234 | -60.7% |
| Plant, machinery and equipment | 23 | €666 | €192 | -€474 | -71.2% |
| Furniture and vehicles | 24 | €12,898 | €5,139 | -€7,759 | -60.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €160,081 | €143,451 | -€16,630 | -10.4% |
| Stocks and contracts in progress | 3 | €6,131 | €3,884 | -€2,247 | -36.7% |
| Stocks | 30/36 | €6,131 | €3,884 | -€2,247 | -36.7% |
| Amounts receivable within one year | 40/41 | €3,141 | €3,760 | +€619 | +19.7% |
| Trade receivables | 40 | €3,141 | €968 | -€2,173 | -69.2% |
| Other amounts receivable | 41 | - | €2,792 | +€2,792 | |
| Cash at bank and in hand | 54/58 | €145,553 | €129,833 | -€15,720 | -10.8% |
| Deferred charges and accrued income | 490/1 | €5,256 | €5,974 | +€718 | +13.7% |
| Total equity and liabilities | 10/49 | €173,671 | €148,807 | -€24,864 | -14.3% |
| Equity | 10/15 | €92,459 | €118,284 | +€25,825 | +27.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,859 | €99,684 | +€25,825 | +35.0% |
| 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 | €71,999 | €97,824 | +€25,825 | +35.9% |
| Amounts payable | 17/49 | €81,212 | €30,523 | -€50,688 | -62.4% |
| Amounts payable after more than one year | 17 | €5,443 | €0 | -€5,443 | -100% |
| Financial debts | 170/4 | €5,443 | €0 | -€5,443 | -100% |
| Amounts payable within one year | 42/48 | €75,769 | €30,523 | -€45,246 | -59.7% |
| Current portion of amounts payable after more than one year | 42 | €7,162 | €5,443 | -€1,719 | -24.0% |
| Trade debts | 44 | €2,396 | €3,786 | +€1,390 | +58.0% |
| Suppliers | 440/4 | €2,396 | €3,786 | +€1,390 | +58.0% |
| Taxes, remuneration and social security | 45 | €15,013 | €3,755 | -€11,258 | -75.0% |
| Taxes | 450/3 | €11,051 | €756 | -€10,294 | -93.2% |
| Remuneration and social security | 454/9 | €3,963 | €2,999 | -€964 | -24.3% |
| Other amounts payable | 47/48 | €51,198 | €17,539 | -€33,659 | -65.7% |
| Remuneration, social security and pensions | 62 | €14,534 | €82 | -€14,453 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,787 | €8,234 | -€553 | -6.3% |
| Other operating charges | 640/8 | €6,080 | €1,910 | -€4,170 | -68.6% |
| Gross operating margin | 9900 | €88,766 | €47,360 | -€41,406 | -46.6% |
| Operating profit (loss) | 9901 | €59,366 | €37,135 | -€22,231 | -37.4% |
| Financial income | 75/76B | €102 | €2 | -€101 | -98.5% |
| Recurring financial income | 75 | €102 | €2 | -€101 | -98.5% |
| Financial charges | 65/66B | €361 | €309 | -€52 | -14.5% |
| Recurring financial charges | 65 | €361 | €309 | -€52 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €59,107 | €36,828 | -€22,280 | -37.7% |
| Income taxes | 67/77 | €17,008 | €11,003 | -€6,004 | -35.3% |
| Profit (loss) for the period | 9904 | €42,100 | €25,825 | -€16,275 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,100 | €25,825 | -€16,275 | -38.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.