CATO: 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.
CATO
Largest movements
- Cash +€840,243
up €840,243 (+272%), from €308,418 to €1.1m
mainly Current investments (+€806,362) and Depreciation (+€170,741)
- Current investments -€806,362
down €806,362 (-81.2%), from €992,635 to €186,273
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€74,027
down €74,027 (-28.8%), from €256,733 to €182,707
- Other operating charges +€18,158
up €18,158 (+61.9%), from €29,356 to €47,514
- Taxes -€14,957
down €14,957, from €10,640 to -€4,316
- Depreciation +€10,602
up €10,602 (+6.6%), from €160,139 to €170,741
- Financial income +€7,355
up €7,355 (+51.0%), from €14,435 to €21,790
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 | €5,112,448 | €5,104,470 | -€7,978 | -0.2% |
| Fixed assets | 21/28 | €3,794,248 | €3,749,994 | -€44,253 | -1.2% |
| Tangible fixed assets | 22/27 | €3,794,186 | €3,749,932 | -€44,253 | -1.2% |
| Land and buildings | 22 | €3,691,281 | €3,670,204 | -€21,077 | -0.6% |
| Plant, machinery and equipment | 23 | €46,297 | €35,557 | -€10,740 | -23.2% |
| Furniture and vehicles | 24 | €53,711 | €41,845 | -€11,866 | -22.1% |
| Other tangible fixed assets | 26 | €2,896 | €2,326 | -€570 | -19.7% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €1,318,200 | €1,354,475 | +€36,275 | +2.8% |
| Amounts receivable within one year | 40/41 | €9,849 | €10,104 | +€254 | +2.6% |
| Trade receivables | 40 | €9,849 | €0 | -€9,849 | -100% |
| Other amounts receivable | 41 | €0 | €10,104 | +€10,104 | |
| Current investments | 50/53 | €992,635 | €186,273 | -€806,362 | -81.2% |
| Cash at bank and in hand | 54/58 | €308,418 | €1,148,661 | +€840,243 | +272% |
| Deferred charges and accrued income | 490/1 | €7,298 | €9,437 | +€2,139 | +29.3% |
| Total equity and liabilities | 10/49 | €5,112,448 | €5,104,470 | -€7,978 | -0.2% |
| Equity | 10/15 | €5,093,941 | €5,063,298 | -€30,643 | -0.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €5,031,941 | €5,001,298 | -€30,643 | -0.6% |
| Tax-exempt reserves | 132 | €523,958 | €490,143 | -€33,816 | -6.5% |
| Distributable reserves | 133 | €4,507,982 | €4,511,156 | +€3,173 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,507 | €41,172 | +€22,664 | +122% |
| Amounts payable within one year | 42/48 | €13,931 | €35,940 | +€22,009 | +158% |
| Trade debts | 44 | €141 | €15,778 | +€15,637 | +11,086% |
| Suppliers | 440/4 | €141 | €15,778 | +€15,637 | +11,086% |
| Advances received on contracts in progress | 46 | €822 | €1,046 | +€224 | +27.3% |
| Taxes, remuneration and social security | 45 | €9,537 | €5,127 | -€4,410 | -46.2% |
| Taxes | 450/3 | €9,537 | €5,127 | -€4,410 | -46.2% |
| Other amounts payable | 47/48 | €3,431 | €13,989 | +€10,558 | +308% |
| Accrued charges and deferred income | 492/3 | €4,576 | €5,231 | +€655 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,139 | €170,741 | +€10,602 | +6.6% |
| Other operating charges | 640/8 | €29,356 | €47,514 | +€18,158 | +61.9% |
| Non-recurring operating charges | 66A | €17,531 | €0 | -€17,531 | -100% |
| Gross operating margin | 9900 | €256,733 | €182,707 | -€74,027 | -28.8% |
| Operating profit (loss) | 9901 | €49,708 | -€35,548 | -€85,256 | |
| Financial income | 75/76B | €14,435 | €21,790 | +€7,355 | +51.0% |
| Recurring financial income | 75 | €14,435 | €21,790 | +€7,355 | +51.0% |
| Financial charges | 65/66B | €600 | €1,201 | +€601 | +100% |
| Recurring financial charges | 65 | €600 | €1,201 | +€601 | +100% |
| Profit (loss) for the period before taxes | 9903 | €63,543 | -€14,959 | -€78,502 | |
| Income taxes | 67/77 | €10,640 | -€4,316 | -€14,957 | |
| Profit (loss) for the period | 9904 | €52,903 | -€10,643 | -€63,545 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,903 | -€10,643 | -€63,545 |
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 19 October 2026 via checked.be.