DE CALUWE: 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.
DE CALUWE
Largest movements
- Tangible fixed assets +€87,304
up €87,304 (+10.1%), from €860,987 to €948,291
of which Land and buildings: +€75,887
- Cash -€46,357
down €46,357 (-43.3%), from €106,965 to €60,608
mainly Investment in fixed assets (net) (-€124,190) and Trade debts (-€4,230)
- Other debts +€25,693
up €25,693 (+3.8%), from €680,883 to €706,576
- Reserves +€17,309
up €17,309 (+7.1%), from €243,668 to €260,977
of which Distributable reserves: +€18,059
- Gross operating margin +€26,723
up €26,723 (+16.3%), from €163,792 to €190,515
- Staff costs +€21,014
up €21,014 (+29.5%), from €71,351 to €92,364
- Financial charges +€17,294
up €17,294 (+246.4%), from €7,019 to €24,312
- Depreciation +€4,236
up €4,236 (+13.0%), from €32,650 to €36,887
- Taxes -€2,544
down €2,544 (-15.7%), from €16,204 to €13,660
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 | €1,089,704 | €1,135,606 | +€45,903 | +4.2% |
| Fixed assets | 21/28 | €860,987 | €948,291 | +€87,304 | +10.1% |
| Tangible fixed assets | 22/27 | €860,987 | €948,291 | +€87,304 | +10.1% |
| Land and buildings | 22 | €850,171 | €926,059 | +€75,887 | +8.9% |
| Plant, machinery and equipment | 23 | €6,326 | €18,292 | +€11,966 | +189.2% |
| Furniture and vehicles | 24 | €4,490 | €3,940 | -€550 | -12.3% |
| Current assets | 29/58 | €228,717 | €187,316 | -€41,401 | -18.1% |
| Stocks and contracts in progress | 3 | €24,554 | €26,012 | +€1,458 | +5.9% |
| Stocks | 30/36 | €24,554 | €26,012 | +€1,458 | +5.9% |
| Amounts receivable within one year | 40/41 | €96,997 | €100,484 | +€3,487 | +3.6% |
| Trade receivables | 40 | €90,910 | €90,387 | -€523 | -0.6% |
| Other amounts receivable | 41 | €6,087 | €10,097 | +€4,010 | +65.9% |
| Cash at bank and in hand | 54/58 | €106,965 | €60,608 | -€46,357 | -43.3% |
| Deferred charges and accrued income | 490/1 | €201 | €212 | +€11 | +5.5% |
| Total equity and liabilities | 10/49 | €1,089,704 | €1,135,606 | +€45,903 | +4.2% |
| Equity | 10/15 | €305,641 | €322,951 | +€17,309 | +5.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €243,668 | €260,977 | +€17,309 | +7.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,748 | €1,998 | -€750 | -27.3% |
| Distributable reserves | 133 | €234,723 | €252,782 | +€18,059 | +7.7% |
| Provisions and deferred taxes | 16 | €672 | €422 | -€250 | -37.2% |
| Deferred taxes | 168 | €672 | €422 | -€250 | -37.2% |
| Amounts payable | 17/49 | €783,391 | €812,234 | +€28,843 | +3.7% |
| Amounts payable within one year | 42/48 | €769,503 | €793,728 | +€24,225 | +3.1% |
| Trade debts | 44 | €76,672 | €72,442 | -€4,230 | -5.5% |
| Suppliers | 440/4 | €76,672 | €72,442 | -€4,230 | -5.5% |
| Taxes, remuneration and social security | 45 | €11,948 | €14,709 | +€2,761 | +23.1% |
| Taxes | 450/3 | €6,937 | €8,228 | +€1,291 | +18.6% |
| Remuneration and social security | 454/9 | €5,011 | €6,481 | +€1,470 | +29.3% |
| Other amounts payable | 47/48 | €680,883 | €706,576 | +€25,693 | +3.8% |
| Accrued charges and deferred income | 492/3 | €13,887 | €18,506 | +€4,619 | +33.3% |
| Non-recurring operating income | 76A | - | €16,483 | +€16,483 | |
| Remuneration, social security and pensions | 62 | €71,351 | €92,364 | +€21,014 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,650 | €36,887 | +€4,236 | +13.0% |
| Other operating charges | 640/8 | €5,471 | €6,257 | +€786 | +14.4% |
| Gross operating margin | 9900 | €163,792 | €190,515 | +€26,723 | +16.3% |
| Operating profit (loss) | 9901 | €54,320 | €55,007 | +€687 | +1.3% |
| Financial income | 75/76B | €383 | €24 | -€359 | -93.6% |
| Recurring financial income | 75 | €383 | €24 | -€359 | -93.6% |
| Financial charges | 65/66B | €7,019 | €24,312 | +€17,294 | +246.4% |
| Recurring financial charges | 65 | €7,019 | €24,312 | +€17,294 | +246.4% |
| Profit (loss) for the period before taxes | 9903 | €47,685 | €30,719 | -€16,966 | -35.6% |
| Transfer from deferred taxes | 780 | €250 | €250 | = | 0.0% |
| Income taxes | 67/77 | €16,204 | €13,660 | -€2,544 | -15.7% |
| Profit (loss) for the period | 9904 | €31,731 | €17,309 | -€14,422 | -45.4% |
| Transfer from tax-exempt reserves | 789 | €750 | €750 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,481 | €18,059 | -€14,422 | -44.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.