CATWALK: 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.
CATWALK
Largest movements
- Receivables within one year -€11,678
down €11,678 (-48.1%), from €24,261 to €12,583
of which Trade receivables: -€11,669
- Cash +€11,676
up €11,676 (+393.0%), from €2,971 to €14,647
mainly Receivables within one year (+€11,678) and Depreciation (+€11,238)
- Tangible fixed assets -€11,238
down €11,238 (-4.0%), from €279,540 to €268,302
of which Land and buildings: -€7,878
- Profit (loss) carried forward -€10,396
down €10,396 (-2.4%), from -€440,943 to -€451,339
- Gross operating margin -€1,781
down €1,781 (-11.4%), from €15,581 to €13,800
- Financial charges -€1,149
down €1,149 (-10.2%), from €11,314 to €10,166
- Depreciation -€403
down €403 (-3.5%), from €11,641 to €11,238
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 | €307,596 | €296,384 | -€11,212 | -3.6% |
| Fixed assets | 21/28 | €279,540 | €268,302 | -€11,238 | -4.0% |
| Tangible fixed assets | 22/27 | €279,540 | €268,302 | -€11,238 | -4.0% |
| Land and buildings | 22 | €251,119 | €243,241 | -€7,878 | -3.1% |
| Plant, machinery and equipment | 23 | €28,421 | €25,060 | -€3,360 | -11.8% |
| Current assets | 29/58 | €28,056 | €28,083 | +€27 | +0.1% |
| Amounts receivable within one year | 40/41 | €24,261 | €12,583 | -€11,678 | -48.1% |
| Trade receivables | 40 | €24,246 | €12,577 | -€11,669 | -48.1% |
| Other amounts receivable | 41 | €15 | €5 | -€10 | -64.1% |
| Cash at bank and in hand | 54/58 | €2,971 | €14,647 | +€11,676 | +393.0% |
| Deferred charges and accrued income | 490/1 | €824 | €853 | +€29 | +3.5% |
| Total equity and liabilities | 10/49 | €307,596 | €296,384 | -€11,212 | -3.6% |
| Equity | 10/15 | -€144,602 | -€154,998 | -€10,396 | -7.2% |
| Contributions | 10/11 | €136,341 | €136,341 | = | 0.0% |
| Revaluation surpluses | 12 | €160,000 | €160,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€440,943 | -€451,339 | -€10,396 | -2.4% |
| Amounts payable | 17/49 | €452,198 | €451,382 | -€816 | -0.2% |
| Amounts payable after more than one year | 17 | €282,939 | €282,939 | = | 0.0% |
| Other amounts payable | 178/9 | €282,939 | €282,939 | = | 0.0% |
| Amounts payable within one year | 42/48 | €169,259 | €168,443 | -€816 | -0.5% |
| Trade debts | 44 | €832 | €682 | -€150 | -18.0% |
| Suppliers | 440/4 | €832 | €682 | -€150 | -18.0% |
| Taxes, remuneration and social security | 45 | €3,537 | €3,928 | +€390 | +11.0% |
| Taxes | 450/3 | €3,537 | €3,928 | +€390 | +11.0% |
| Other amounts payable | 47/48 | €164,890 | €163,833 | -€1,057 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,641 | €11,238 | -€403 | -3.5% |
| Other operating charges | 640/8 | €2,712 | €2,796 | +€84 | +3.1% |
| Gross operating margin | 9900 | €15,581 | €13,800 | -€1,781 | -11.4% |
| Operating profit (loss) | 9901 | €1,228 | -€234 | -€1,462 | |
| Financial income | 75/76B | €1 | €4 | +€3 | +261.3% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +261.3% |
| Financial charges | 65/66B | €11,314 | €10,166 | -€1,149 | -10.2% |
| Recurring financial charges | 65 | €11,314 | €10,166 | -€1,149 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,085 | -€10,395 | -€310 | -3.1% |
| Income taxes | 67/77 | €0 | €0 | +€0 | +18.9% |
| Profit (loss) for the period | 9904 | -€10,085 | -€10,396 | -€310 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,085 | -€10,396 | -€310 | -3.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.