GROEP VAN CALSTER: 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.
GROEP VAN CALSTER
Largest movements
- Cash -€328,317
down €328,317 (-93.6%), from €350,912 to €22,594
mainly Stocks and contracts (-€244,303) and Short-term financial debts (-€120,000)
- Stocks and contracts +€244,303
up €244,303 (+122%), from €199,613 to €443,916
- Receivables within one year -€44,744
down €44,744 (-76.0%), from €58,847 to €14,103
of which Trade receivables: -€44,560
- Short-term financial debts -€120,000
down €120,000 (-17.8%), from €675,000 to €555,000
- Accrued charges and deferred income +€26,400
new in 2025: €26,400
- Tax, wage and social debts -€25,461
down €25,461 (-69.1%), from €36,839 to €11,378
of which Taxes: -€27,264
- Financial income +€76,690
up €76,690 (+318%), from €24,083 to €100,773
- Gross operating margin -€57,856
down €57,856, from €48,699 to -€9,157
- Financial charges -€37,066
down €37,066 (-37.5%), from €98,733 to €61,667
- Depreciation +€14,310
up €14,310 (+367%), from €3,899 to €18,209
- Other operating charges -€2,428
down €2,428 (-30.9%), from €7,851 to €5,423
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 | €2,043,443 | €1,907,121 | -€136,323 | -6.7% |
| Fixed assets | 21/28 | €1,292,126 | €1,273,917 | -€18,209 | -1.4% |
| Tangible fixed assets | 22/27 | €1,034,626 | €1,016,417 | -€18,209 | -1.8% |
| Land and buildings | 22 | €1,028,037 | €1,011,388 | -€16,649 | -1.6% |
| Plant, machinery and equipment | 23 | €5,144 | €4,475 | -€669 | -13.0% |
| Furniture and vehicles | 24 | €890 | - | -€890 | |
| Other tangible fixed assets | 26 | €554 | €554 | = | 0.0% |
| Financial fixed assets | 28 | €257,500 | €257,500 | = | 0.0% |
| Current assets | 29/58 | €751,318 | €633,204 | -€118,114 | -15.7% |
| Stocks and contracts in progress | 3 | €199,613 | €443,916 | +€244,303 | +122% |
| Stocks | 30/36 | €199,613 | €443,916 | +€244,303 | +122% |
| Amounts receivable within one year | 40/41 | €58,847 | €14,103 | -€44,744 | -76.0% |
| Trade receivables | 40 | €58,662 | €14,103 | -€44,560 | -76.0% |
| Other amounts receivable | 41 | €184 | - | -€184 | |
| Current investments | 50/53 | €138,148 | €147,920 | +€9,772 | +7.1% |
| Cash at bank and in hand | 54/58 | €350,912 | €22,594 | -€328,317 | -93.6% |
| Deferred charges and accrued income | 490/1 | €3,798 | €4,671 | +€873 | +23.0% |
| Total equity and liabilities | 10/49 | €2,043,443 | €1,907,121 | -€136,323 | -6.7% |
| Equity | 10/15 | €563,882 | €569,575 | +€5,693 | +1.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €176,250 | €176,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €312,632 | €318,325 | +€5,693 | +1.8% |
| Amounts payable | 17/49 | €1,479,561 | €1,337,546 | -€142,015 | -9.6% |
| Amounts payable within one year | 42/48 | €1,479,561 | €1,311,146 | -€168,415 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €550,000 | €550,000 | = | 0.0% |
| Financial debts | 43 | €675,000 | €555,000 | -€120,000 | -17.8% |
| Credit institutions | 430/8 | €675,000 | €555,000 | -€120,000 | -17.8% |
| Trade debts | 44 | €24,923 | €10,964 | -€13,958 | -56.0% |
| Suppliers | 440/4 | €24,923 | €10,964 | -€13,958 | -56.0% |
| Taxes, remuneration and social security | 45 | €36,839 | €11,378 | -€25,461 | -69.1% |
| Taxes | 450/3 | €36,833 | €9,569 | -€27,264 | -74.0% |
| Remuneration and social security | 454/9 | €6 | €1,809 | +€1,803 | +31,306% |
| Other amounts payable | 47/48 | €192,799 | €183,803 | -€8,996 | -4.7% |
| Accrued charges and deferred income | 492/3 | - | €26,400 | +€26,400 | |
| Non-recurring operating income | 76A | €3,892 | - | -€3,892 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,899 | €18,209 | +€14,310 | +367% |
| Other operating charges | 640/8 | €7,851 | €5,423 | -€2,428 | -30.9% |
| Non-recurring operating charges | 66A | - | €379 | +€379 | |
| Gross operating margin | 9900 | €48,699 | -€9,157 | -€57,856 | |
| Operating profit (loss) | 9901 | €36,950 | -€33,166 | -€70,116 | |
| Financial income | 75/76B | €24,083 | €100,773 | +€76,690 | +318% |
| Recurring financial income | 75 | €24,083 | €100,773 | +€76,690 | +318% |
| Financial charges | 65/66B | €98,733 | €61,667 | -€37,066 | -37.5% |
| Recurring financial charges | 65 | €98,733 | €61,667 | -€37,066 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | -€37,700 | €5,940 | +€43,640 | |
| Income taxes | 67/77 | €1,475 | €247 | -€1,228 | -83.3% |
| Profit (loss) for the period | 9904 | -€39,175 | €5,693 | +€44,868 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,175 | €5,693 | +€44,868 |
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 25 October 2026 via checked.be.