THE NEW CAT: 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.
THE NEW CAT
Largest movements
- Cash -€5,310
down €5,310 (-54.2%), from €9,793 to €4,482
mainly Net result for the year (-€42,779) and Current portion of long-term debt (-€7,512)
- Receivables within one year -€3,605
down €3,605 (-36.9%), from €9,772 to €6,167
of which Trade receivables: -€8,249
- Stocks and contracts -€2,943
down €2,943 (-25.4%), from €11,581 to €8,637
- Formation expenses -€910
down €910 (-55.6%), from €1,638 to €728
- Tangible fixed assets +€865
up €865 (+17.9%), from €4,822 to €5,687
of which Furniture and vehicles: +€2,604
- Profit (loss) carried forward -€42,779
down €42,779 (-11.2%), from -€382,764 to -€425,543
- Debts after one year +€16,989
up €16,989 (+6.2%), from €275,776 to €292,766
- Trade debts +€15,210
up €15,210 (+36.6%), from €41,533 to €56,742
- Tax, wage and social debts +€8,798
up €8,798 (+18.7%), from €46,955 to €55,753
of which Taxes: +€15,025
- Current portion of long-term debt -€7,512
down €7,512 (-29.8%), from €25,196 to €17,684
- Staff costs -€35,089
down €35,089 (-46.6%), from €75,374 to €40,285
- Gross operating margin -€33,725
down €33,725 (-64.2%), from €52,529 to €18,804
- Financial charges -€9,400
down €9,400 (-62.0%), from €15,155 to €5,755
- Other operating charges -€5,473
down €5,473 (-31.3%), from €17,473 to €12,000
- Depreciation -€886
down €886 (-20.2%), from €4,384 to €3,497
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 | €37,883 | €25,980 | -€11,903 | -31.4% |
| Formation expenses | 20 | €1,638 | €728 | -€910 | -55.6% |
| Fixed assets | 21/28 | €5,100 | €5,966 | +€865 | +17.0% |
| Tangible fixed assets | 22/27 | €4,822 | €5,687 | +€865 | +17.9% |
| Plant, machinery and equipment | 23 | €3,256 | €1,518 | -€1,739 | -53.4% |
| Furniture and vehicles | 24 | €1,565 | €4,169 | +€2,604 | +166% |
| Financial fixed assets | 28 | €279 | €279 | = | 0.0% |
| Current assets | 29/58 | €31,145 | €19,286 | -€11,858 | -38.1% |
| Stocks and contracts in progress | 3 | €11,581 | €8,637 | -€2,943 | -25.4% |
| Stocks | 30/36 | €11,581 | €8,637 | -€2,943 | -25.4% |
| Amounts receivable within one year | 40/41 | €9,772 | €6,167 | -€3,605 | -36.9% |
| Trade receivables | 40 | €8,249 | €0 | -€8,249 | -100% |
| Other amounts receivable | 41 | €1,522 | €6,167 | +€4,644 | +305% |
| Cash at bank and in hand | 54/58 | €9,793 | €4,482 | -€5,310 | -54.2% |
| Total equity and liabilities | 10/49 | €37,883 | €25,980 | -€11,903 | -31.4% |
| Equity | 10/15 | -€364,164 | -€406,943 | -€42,779 | -11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€382,764 | -€425,543 | -€42,779 | -11.2% |
| Amounts payable | 17/49 | €402,047 | €432,923 | +€30,876 | +7.7% |
| Amounts payable after more than one year | 17 | €275,776 | €292,766 | +€16,989 | +6.2% |
| Financial debts | 170/4 | €275,776 | €292,766 | +€16,989 | +6.2% |
| Amounts payable within one year | 42/48 | €126,270 | €140,157 | +€13,887 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €25,196 | €17,684 | -€7,512 | -29.8% |
| Financial debts | 43 | €9,937 | €9,978 | +€41 | +0.4% |
| Credit institutions | 430/8 | €9,937 | €9,978 | +€41 | +0.4% |
| Trade debts | 44 | €41,533 | €56,742 | +€15,210 | +36.6% |
| Suppliers | 440/4 | €41,533 | €56,742 | +€15,210 | +36.6% |
| Advances received on contracts in progress | 46 | €2,650 | €0 | -€2,650 | -100% |
| Taxes, remuneration and social security | 45 | €46,955 | €55,753 | +€8,798 | +18.7% |
| Taxes | 450/3 | €32,035 | €47,060 | +€15,025 | +46.9% |
| Remuneration and social security | 454/9 | €14,920 | €8,693 | -€6,227 | -41.7% |
| Remuneration, social security and pensions | 62 | €75,374 | €40,285 | -€35,089 | -46.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,384 | €3,497 | -€886 | -20.2% |
| Other operating charges | 640/8 | €17,473 | €12,000 | -€5,473 | -31.3% |
| Gross operating margin | 9900 | €52,529 | €18,804 | -€33,725 | -64.2% |
| Operating profit (loss) | 9901 | -€44,702 | -€36,979 | +€7,723 | +17.3% |
| Financial income | 75/76B | €97 | €95 | -€2 | -2.2% |
| Recurring financial income | 75 | €97 | €95 | -€2 | -2.2% |
| Financial charges | 65/66B | €15,155 | €5,755 | -€9,400 | -62.0% |
| Recurring financial charges | 65 | €15,155 | €5,755 | -€9,400 | -62.0% |
| Profit (loss) for the period before taxes | 9903 | -€59,760 | -€42,638 | +€17,121 | +28.7% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€59,899 | -€42,779 | +€17,120 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,899 | -€42,779 | +€17,120 | +28.6% |
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 20 October 2026 via checked.be.