Christian CATRY: 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.
Christian CATRY
Largest movements
- Cash +€156,399
up €156,399 (+649%), from €24,089 to €180,488
mainly Current investments (+€140,000) and Other debts (+€122,500)
- Current investments -€140,000
down €140,000 (-100%), from €140,000 to €0
- Tangible fixed assets -€17,145
down €17,145 (-11.0%), from €155,480 to €138,336
of which Leasing and similar rights: -€9,600
- Receivables after one year -€8,234
down €8,234 (-20.0%), from €41,129 to €32,894
- Profit (loss) carried forward -€177,826
down €177,826 (-63.2%), from €281,506 to €103,681
- Other debts +€122,500
new in 2025: €122,500
- Tax, wage and social debts +€52,058
up €52,058 (+11,767%), from €442 to €52,500
- Reserves -€4,187
down €4,187 (-14.3%), from €29,311 to €25,124
- Gross operating margin -€7,278
down €7,278 (-37.6%), from €19,361 to €12,082
- Financial income -€4,261
down €4,261 (-81.7%), from €5,219 to €958
- Taxes -€2,127
down €2,127 (-58.6%), from €3,627 to €1,500
- Depreciation +€521
up €521 (+3.1%), from €16,623 to €17,145
- Other operating charges +€391
up €391 (+12.5%), from €3,130 to €3,521
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 | €387,025 | €378,219 | -€8,807 | -2.3% |
| Fixed assets | 21/28 | €156,693 | €139,548 | -€17,145 | -10.9% |
| Tangible fixed assets | 22/27 | €155,480 | €138,336 | -€17,145 | -11.0% |
| Land and buildings | 22 | €69,935 | €64,851 | -€5,083 | -7.3% |
| Furniture and vehicles | 24 | €245 | €0 | -€245 | -100% |
| Leasing and similar rights | 25 | €67,200 | €57,600 | -€9,600 | -14.3% |
| Other tangible fixed assets | 26 | €18,101 | €15,884 | -€2,217 | -12.2% |
| Financial fixed assets | 28 | €1,212 | €1,212 | = | 0.0% |
| Current assets | 29/58 | €230,333 | €238,671 | +€8,338 | +3.6% |
| Amounts receivable after more than one year | 29 | €41,129 | €32,894 | -€8,234 | -20.0% |
| Trade receivables | 290 | €41,129 | €32,894 | -€8,234 | -20.0% |
| Current investments | 50/53 | €140,000 | €0 | -€140,000 | -100% |
| Cash at bank and in hand | 54/58 | €24,089 | €180,488 | +€156,399 | +649% |
| Deferred charges and accrued income | 490/1 | €25,115 | €25,288 | +€173 | +0.7% |
| Total equity and liabilities | 10/49 | €387,025 | €378,219 | -€8,807 | -2.3% |
| Equity | 10/15 | €331,269 | €149,256 | -€182,013 | -54.9% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €29,311 | €25,124 | -€4,187 | -14.3% |
| Tax-exempt reserves | 132 | €29,311 | €25,124 | -€4,187 | -14.3% |
| Profit (loss) carried forward | 14 | €281,506 | €103,681 | -€177,826 | -63.2% |
| Provisions and deferred taxes | 16 | €15,100 | €12,943 | -€2,157 | -14.3% |
| Deferred taxes | 168 | €15,100 | €12,943 | -€2,157 | -14.3% |
| Amounts payable | 17/49 | €40,657 | €216,020 | +€175,364 | +431% |
| Amounts payable within one year | 42/48 | €40,657 | €216,020 | +€175,364 | +431% |
| Trade debts | 44 | €1,523 | €2,329 | +€806 | +52.9% |
| Suppliers | 440/4 | €1,523 | €2,329 | +€806 | +52.9% |
| Advances received on contracts in progress | 46 | €38,691 | €38,691 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €442 | €52,500 | +€52,058 | +11,767% |
| Taxes | 450/3 | €442 | €52,500 | +€52,058 | +11,767% |
| Other amounts payable | 47/48 | - | €122,500 | +€122,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,623 | €17,145 | +€521 | +3.1% |
| Other operating charges | 640/8 | €3,130 | €3,521 | +€391 | +12.5% |
| Gross operating margin | 9900 | €19,361 | €12,082 | -€7,278 | -37.6% |
| Operating profit (loss) | 9901 | -€392 | -€8,583 | -€8,190 | -2,087% |
| Financial income | 75/76B | €5,219 | €958 | -€4,261 | -81.7% |
| Recurring financial income | 75 | €5,219 | €958 | -€4,261 | -81.7% |
| Financial charges | 65/66B | €63 | €45 | -€18 | -28.8% |
| Recurring financial charges | 65 | €63 | €45 | -€18 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €4,763 | -€7,670 | -€12,434 | |
| Transfer from deferred taxes | 780 | €2,157 | €2,157 | = | 0.0% |
| Income taxes | 67/77 | €3,627 | €1,500 | -€2,127 | -58.6% |
| Profit (loss) for the period | 9904 | €3,294 | -€7,013 | -€10,307 | |
| Transfer from tax-exempt reserves | 789 | €4,187 | €4,187 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,481 | -€2,826 | -€10,307 |
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 21 October 2026 via checked.be.