Cativo: 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.
What changed
Cativo
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€56,741
2024 · €125,022-€68,281
Equity
€794,465
2024 · €930,169-€135,704
Cash
€23,629
2024 · €16,931+€6,698
Balance sheet total
€2.2m
2024 · €2.2m-€4,371
Largest movements
Assets
- Tangible fixed assets +€40,189
up €40,189 (+2.5%), from €1.6m to €1.6m
of which Land and buildings: +€81,233
- Financial fixed assets -€32,172
down €32,172 (-5.8%), from €555,077 to €522,905
Equity and liabilities
- Reserves -€135,704
down €135,704 (-14.8%), from €916,815 to €781,111
of which Distributable reserves: -€134,954
- Other debts +€130,564
up €130,564 (+3,015%), from €4,331 to €134,895
- Debts after one year -€63,934
down €63,934 (-6.0%), from €1.1m to €1.0m
- Trade debts +€52,355
up €52,355 (+140%), from €37,404 to €89,759
Income statement
- Financial income -€59,949
down €59,949 (-100.0%), from €59,952 to €3
- Depreciation +€25,019
up €25,019 (+43.9%), from €57,010 to €82,030
- Other operating charges -€11,926
down €11,926 (-66.0%), from €18,074 to €6,148
- Financial charges +€9,682
up €9,682 (+27.9%), from €34,752 to €44,434
- Taxes -€7,564
down €7,564 (-22.8%), from €33,211 to €25,647
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.
Result 2024
€125,022
Gross operating margin
+€1,609
Depreciation
-€25,019
Other operating charges
+€11,926
Other operating items
+€4,021
Financial income
-€59,949
Financial charges
-€9,682
Taxes
+€7,564
Deferred taxes and other
+€1,250
Result 2025
€56,741
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€361,032
Investment
-€90,046
Financing
-€264,287
Cash 2024
€16,931
From operations (derived)
+€361,032
Net result for the year
+€56,741
Depreciation
+€82,030
Receivables within one year
+€11,539
Deferred charges and accrued income
+€7,547
Provisions
-€250
Trade debts
+€52,355
Tax, wage and social debts
+€7,060
Other debts
+€130,564
Accrued charges and deferred income
+€13,447
Investment (derived)
-€90,046
Investment in fixed assets (net)
-€90,046
Financing
-€264,287
Debts after one year
-€63,934
Current portion of long-term debt
-€2,837
Short-term financial debts
-€5,071
Contributions, distributions and other
-€192,444
Cash 2025
€23,629
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,178,864 | €2,174,493 | -€4,371 | -0.2% |
| Fixed assets | 21/28 | €2,136,788 | €2,144,805 | +€8,017 | +0.4% |
| Tangible fixed assets | 22/27 | €1,581,711 | €1,621,900 | +€40,189 | +2.5% |
| Land and buildings | 22 | €1,413,904 | €1,495,138 | +€81,233 | +5.7% |
| Furniture and vehicles | 24 | €135,403 | €106,576 | -€28,827 | -21.3% |
| Other tangible fixed assets | 26 | €32,404 | €20,187 | -€12,217 | -37.7% |
| Financial fixed assets | 28 | €555,077 | €522,905 | -€32,172 | -5.8% |
| Current assets | 29/58 | €42,076 | €29,688 | -€12,388 | -29.4% |
| Amounts receivable within one year | 40/41 | €12,223 | €684 | -€11,539 | -94.4% |
| Trade receivables | 40 | €12,223 | €684 | -€11,539 | -94.4% |
| Cash at bank and in hand | 54/58 | €16,931 | €23,629 | +€6,698 | +39.6% |
| Deferred charges and accrued income | 490/1 | €12,921 | €5,375 | -€7,547 | -58.4% |
| Total equity and liabilities | 10/49 | €2,178,864 | €2,174,493 | -€4,371 | -0.2% |
| Equity | 10/15 | €930,169 | €794,465 | -€135,704 | -14.6% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €916,815 | €781,111 | -€135,704 | -14.8% |
| Tax-exempt reserves | 132 | €3,000 | €2,250 | -€750 | -25.0% |
| Distributable reserves | 133 | €913,815 | €778,861 | -€134,954 | -14.8% |
| Profit (loss) carried forward | 14 | €854 | €854 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,000 | €750 | -€250 | -25.0% |
| Deferred taxes | 168 | €1,000 | €750 | -€250 | -25.0% |
| Amounts payable | 17/49 | €1,247,695 | €1,379,278 | +€131,583 | +10.5% |
| Amounts payable after more than one year | 17 | €1,068,742 | €1,004,808 | -€63,934 | -6.0% |
| Financial debts | 170/4 | €1,068,742 | €1,004,808 | -€63,934 | -6.0% |
| Amounts payable within one year | 42/48 | €166,841 | €348,911 | +€182,070 | +109% |
| Current portion of amounts payable after more than one year | 42 | €66,771 | €63,934 | -€2,837 | -4.2% |
| Financial debts | 43 | €5,071 | €0 | -€5,071 | -100% |
| Credit institutions | 430/8 | €5,071 | €0 | -€5,071 | -100% |
| Trade debts | 44 | €37,404 | €89,759 | +€52,355 | +140% |
| Suppliers | 440/4 | €37,404 | €89,759 | +€52,355 | +140% |
| Taxes, remuneration and social security | 45 | €53,264 | €60,323 | +€7,060 | +13.3% |
| Taxes | 450/3 | €53,264 | €57,823 | +€4,560 | +8.6% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €4,331 | €134,895 | +€130,564 | +3,015% |
| Accrued charges and deferred income | 492/3 | €12,111 | €25,559 | +€13,447 | +111% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,010 | €82,030 | +€25,019 | +43.9% |
| Other operating charges | 640/8 | €18,074 | €6,148 | -€11,926 | -66.0% |
| Non-recurring operating charges | 66A | €4,021 | €0 | -€4,021 | -100% |
| Gross operating margin | 9900 | €213,137 | €214,745 | +€1,609 | +0.8% |
| Operating profit (loss) | 9901 | €134,032 | €126,568 | -€7,464 | -5.6% |
| Financial income | 75/76B | €59,952 | €3 | -€59,949 | -100.0% |
| Recurring financial income | 75 | €59,952 | €3 | -€59,949 | -100.0% |
| Financial charges | 65/66B | €34,752 | €44,434 | +€9,682 | +27.9% |
| Recurring financial charges | 65 | €34,752 | €44,434 | +€9,682 | +27.9% |
| Profit (loss) for the period before taxes | 9903 | €159,232 | €82,137 | -€77,095 | -48.4% |
| Transfer from deferred taxes | 780 | €250 | €250 | = | 0.0% |
| Transfer to deferred taxes | 680 | €1,250 | €0 | -€1,250 | -100% |
| Income taxes | 67/77 | €33,211 | €25,647 | -€7,564 | -22.8% |
| Profit (loss) for the period | 9904 | €125,022 | €56,741 | -€68,281 | -54.6% |
| Transfer from tax-exempt reserves | 789 | €750 | €750 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €3,750 | €0 | -€3,750 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €122,022 | €57,491 | -€64,531 | -52.9% |
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 14 October 2026 via checked.be.