Cagima (0406.464.642): financials and annual accounts

Cagima

Antwerp ·KBO/BCE: BE 0406.464.642

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	6.4m	6.5m	6.6m	6.9m	7.0m	7.2m	6.2m	5.2m	5.4m	4.8m	3.7m	3.6m	3.5m	3.4m	3.4m	3.2m	3.1m	3.0m	2.9m	2.6m
Fixed assets`21/28`	6.2m	6.3m	6.1m	5.5m	4.6m	2.6m	2.2m	2.5m	2.4m	2.4m	2.6m	3.1m	3.0m	2.8m	2.8m	2.0m	1.4m	1.4m	1.4m	1.3m
Tangible fixed assets`22/27`	6.2m	6.3m	6.1m	5.5m	4.6m	2.6m	1.9m	2.1m	2.0m	2.1m	2.3m	2.7m	2.6m	2.6m	2.5m	1.8m	1.1m	1.1m	1.1m	1.0m
Land and buildings`22`	6.2m	6.3m	6.1m	5.5m	4.6m	2.6m	1.9m	2.1m	2.0m	2.1m	2.3m	2.7m	2.6m	2.6m	2.5m	1.8m	1.1m	1.1m	1.1m	1.0m
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	-	-	0	36	128	220	313	597	882	1,166	1,451	1,735
Furniture and vehicles`24`	1,912	1,035	-	-	-	-	-	-	-	253	505	871	1,236	757	1,289	1,260	1,679	232	633	1,088
Financial fixed assets`28`	240	240	240	240	919	919	347,665	347,665	347,665	347,665	357,638	357,638	357,638	277,649	277,649	277,600	276,970	268,488	268,489	268,489
Current assets`29/58`	195,019	164,599	534,437	1.4m	2.4m	4.7m	4.0m	2.7m	3.0m	2.3m	1.1m	581,750	561,234	508,187	564,066	1.2m	1.7m	1.6m	1.5m	1.3m
Amounts receivable after more than one year`29`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	247,894	247,894	247,893	247,894	247,894
Other amounts receivable`291`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	247,894	247,894	247,893	247,894	247,894
Amounts receivable within one year`40/41`	28,465	36,350	54,394	73,086	121,985	53,704	235,584	238,590	239,589	27,976	30,480	38,919	42,427	23,481	16,452	13,251	7,698	20,993	24,848	51,689
Trade receivables`40`	23,834	31,175	50,379	27,043	76,441	50,016	10,424	13,473	15,052	22,550	25,961	21,215	24,969	19,242	10,803	9,047	3,761	392	2,588	4,957
Other amounts receivable`41`	4,631	5,175	4,015	46,043	45,545	3,687	225,161	225,117	224,537	5,426	4,519	17,704	17,458	4,239	5,649	4,203	3,937	20,601	22,260	46,733
Current investments`50/53`	-	-	123,759	236,908	221,858	238,520	229,355	-	-	226,446	226,446	234,356	237,823	261,103	320,361	349,327	576,173	317,126	330,984	488,730
Cash at bank and in hand`54/58`	156,162	115,039	340,385	1.0m	2.0m	4.3m	3.5m	2.5m	2.8m	2.1m	792,038	278,219	255,991	189,907	197,437	507,246	829,709	976,992	903,561	515,107
Deferred charges and accrued income`490/1`	10,392	13,211	15,899	14,188	23,013	26,235	22,847	11,309	3,220	13,849	28,190	30,257	24,993	33,696	29,816	36,574	19,251	25,745	39,175	23,154
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	6.4m	6.5m	6.6m	6.9m	7.0m	7.2m	6.2m	5.2m	5.4m	4.8m	3.7m	3.6m	3.5m	3.4m	3.4m	3.2m	3.1m	3.0m	2.9m	2.6m
Equity`10/15`	5.3m	5.3m	5.5m	5.7m	5.8m	5.8m	3.3m	2.5m	2.6m	4.2m	3.2m	3.2m	3.0m	3.0m	2.9m	2.8m	2.7m	2.6m	2.5m	2.2m
Contributions`10/11`	425,256	425,256	425,256	425,256	425,256	425,256	370,000	370,000	370,000	2.5m	2.5m	2.5m	2.5m	780,865	780,865	780,865	780,865	780,865	780,865	780,865
Capital`10`	425,256	425,256	425,256	425,256	425,256	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	425,256	425,256	425,256	425,256	425,256	425,256	370,000	370,000	370,000	2.5m	2.5m	2.5m	2.5m	780,865	780,865	780,865	780,865	780,865	780,865	780,865
Reserves`13`	4.2m	4.4m	4.5m	4.6m	4.7m	5.5m	2.9m	2.2m	2.2m	1.7m	685,820	511,773	339,423	2.1m	2.1m	209,843	209,843	209,843	209,843	209,843
Non-distributable reserves`130/1`	453,012	453,012	453,012	453,012	453,012	453,012	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	453,012	453,012	453,012	453,012	453,012	453,012	253,590	253,590	253,590	253,590	253,590	253,590	253,590	78,086	78,086	78,086	78,086	78,086	78,086	78,086
Tax-exempt reserves`132`	2.8m	2.9m	3.0m	3.2m	3.3m	4.1m	1.8m	1.3m	1.3m	942,236	35,833	35,833	35,833	35,833	35,833	35,833	35,833	35,833	35,833	35,833
Distributable reserves`133`	1.0m	1.0m	1.0m	1.0m	1.0m	1.0m	876,977	668,293	668,293	462,415	396,397	222,350	50,000	2.0m	2.0m	95,924	95,924	95,924	95,924	95,924
Profit (loss) carried forward`14`	636,170	551,211	601,075	634,959	680,350	-177,696	-	-61,719	-	-	-	106,391	106,391	74,492	35,920	1.8m	1.7m	1.6m	1.5m	1.2m
Provisions and deferred taxes`16`	909,907	960,188	1.0m	1.0m	1.1m	1.3m	593,813	408,897	408,897	466,727	-	-	109,113	174,051	238,989	248,151	257,314	266,476	275,638	284,800
Provisions for liabilities and charges`160/5`	-	-	-	-	-	-	-	-	-	-	-	-	109,113	174,051	238,989	248,151	257,314	266,476	275,638	284,800
Deferred taxes`168`	909,907	960,188	1.0m	1.0m	1.1m	1.3m	593,813	408,897	408,897	466,727	-	-	-	-	-	-	-	-	-	-
Amounts payable`17/49`	202,383	161,881	94,536	147,268	85,291	120,977	2.3m	2.3m	2.4m	124,699	505,349	490,942	424,789	211,767	257,107	153,801	158,629	143,625	84,285	110,357
Amounts payable after more than one year`17`	49,838	28,238	16,588	16,795	41,965	14,625	10,301	22,976	23,906	32,806	34,508	25,679	19,089	15,928	20,704	10,001	3,425	4,014	4,989	6,337
Other amounts payable`178/9`	49,838	28,238	16,588	16,795	41,965	14,625	10,301	22,976	23,906	32,806	34,508	25,679	19,089	15,928	20,704	10,001	3,425	4,014	4,989	6,337
Amounts payable within one year`42/48`	131,016	118,828	68,339	34,351	28,604	90,476	2.3m	2.2m	2.4m	85,735	463,239	462,852	400,306	185,775	228,382	138,351	147,330	113,226	61,214	94,596
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	300,000	300,000	300,000	70,000	50,000	-	-	-	-	-
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	300,000	300,000	300,000	70,000	50,000	-	-	-	-	-
Trade debts`44`	14,178	102,571	46,728	19,983	14,841	17,547	63,842	60,604	35,620	33,072	24,720	33,589	30,555	37,430	132,315	56,285	20,797	1,929	22,322	38,366
Suppliers`440/4`	14,178	102,571	46,728	19,983	14,841	17,547	63,842	60,604	35,620	33,072	24,720	33,589	30,555	37,430	132,315	56,285	20,797	1,929	22,322	38,366
Taxes, remuneration and social security`45`	16,839	16,257	21,611	14,368	13,763	72,929	41,776	16,251	148,067	31,459	111,314	73,251	19,739	28,333	24,863	22,380	21,846	15,092	17,687	35,025
Taxes`450/3`	-	-	-	-	-	59,859	28,947	-	135,191	19,171	98,945	57,742	-	8,986	9,941	7,821	7,287	-	17,687	14,875
Remuneration and social security`454/9`	16,839	16,257	21,611	14,368	13,763	13,070	12,829	16,251	12,876	12,288	12,369	15,509	19,739	19,347	14,922	14,559	14,559	15,092	-	20,150
Other amounts payable`47/48`	100,000	-	-	-	-	-	2.2m	2.2m	2.2m	21,205	27,205	56,012	50,012	50,012	21,205	59,687	104,687	96,205	21,205	21,205
Accrued charges and deferred income`492/3`	21,528	14,815	9,609	96,122	14,722	15,876	14,923	16,542	2,740	6,159	7,602	2,411	5,394	10,065	8,021	5,449	7,875	26,385	18,082	9,425
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	3.1m	1.2m	32,178	459,520	1.4m	106,502	115,130	55,776	64,938	9,162	9,162	25,957	9,162	-	610
Gross operating margin`9900`	331,641	221,369	203,002	169,359	127,507	-12,782	75,470	142,938	166,137	301,205	318,900	371,426	383,612	390,968	389,860	437,662	454,080	394,993	434,883	327,487
Remuneration, social security and pensions`62`	139,947	134,875	131,668	117,228	112,678	96,697	103,688	101,314	99,359	98,568	121,940	121,989	126,540	123,864	119,556	116,537	118,115	121,226	135,183	141,043
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	256,396	246,525	226,687	198,533	150,054	104,950	53,208	100,751	75,763	72,065	81,420	79,200	80,613	78,203	75,024	49,777	36,240	39,705	36,152	31,196
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	25,167	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating charges`640/8`	50,920	46,846	50,509	44,583	72,243	60,627	37,760	40,989	51,209	56,235	61,719	52,266	49,835	77,608	51,710	47,093	45,955	44,025	43,223	42,795
Non-recurring operating charges`66A`	-	-	-	-	-	-	31,800	-	-	-	-	-	-9,162	-	-	-	-	-	-8,616	-12,494
Operating profit (loss)`9901`	-115,621	-206,876	-205,862	-216,153	-207,467	-275,056	-150,986	-100,115	-60,194	74,338	53,821	117,971	126,624	111,293	143,571	224,256	253,770	190,037	220,324	112,453
Financial income`75/76B`	462	3,457	22,004	29,926	238,969	3.1m	1.2m	38,781	693,955	1.4m	14,289	53,477	140,471	24,647	26,816	41,379	50,609	65,152	207,007	50,410
Recurring financial income`75`	462	3,457	22,004	29,926	16,683	15,876	12,475	6,603	234,435	39,525	14,289	53,477	140,471	24,647	26,816	41,379	50,609	65,152	207,007	50,410
Non-recurring financial income`76B`	-	-	-	-	222,286	3.1m	1.2m	32,178	459,520	1.4m	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	1,004	8,942	1,341	3,638	22,447	7,640	256	385	5,585	5,483	11,593	7,635	88,840	79,279	70,737	71,232	77,834	111,583	66,047	62,628
Recurring financial charges`65`	1,004	8,942	1,341	3,638	22,447	7,640	256	385	5,585	5,483	11,593	7,635	88,840	79,279	70,737	71,232	77,834	111,583	66,047	62,628
Profit (loss) for the period before taxes`9903`	-116,163	-212,362	-185,200	-189,865	9,055	2.8m	1.1m	-61,719	628,175	1.5m	163,019	278,944	243,193	121,599	108,812	203,565	252,503	152,768	369,900	113,338
Transfer from deferred taxes`780`	50,281	40,624	37,829	36,119	331,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	-	-	-	-	208,497	27,871	28,947	-	138,635	21,158	74,158	85,389	14,586	11,821	4,657	33,339	41,031	31,730	44,102	12,399
Profit (loss) for the period`9904`	-65,882	-171,737	-147,371	-153,746	132,359	2.1m	846,356	-61,719	423,926	993,625	88,861	193,555	228,608	109,778	104,156	170,226	211,473	121,038	325,797	100,939
Transfer from tax-exempt reserves`789`	150,842	121,873	113,487	108,356	725,687	87,747	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to tax-exempt reserves`689`	-	-	-	-	-	2.3m	554,749	-	196,843	906,403	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	84,960	-49,864	-33,884	-45,390	858,046	-177,696	291,608	-61,719	227,083	87,222	88,861	193,555	228,608	109,778	104,156	170,226	211,473	121,038	325,797	100,939
Appropriation of the result
Profit (loss) to be appropriated`9906`	636,170	551,211	601,075	634,959	680,350	-177,696	229,889	-61,719	227,083	87,222	195,252	299,946	303,100	145,697	1.9m	1.9m	1.8m	1.7m	1.6m	1.3m
Profit (loss) brought forward from the previous period`14P`	551,211	601,075	634,959	680,350	-177,696	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	-	-	-	-	-	172,350	-	-	-	-	-	-	2.0m	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	208,684	-	205,878	66,018	174,047	172,350	175,504	50,000	1.9m	-	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	175,504	-	-	-	-	-	-	-
To other reserves`6921`	-	-	-	-	-	-	208,684	-	205,878	66,018	174,047	172,350	-	50,000	1.9m	-	-	-	-	-
Profit to be distributed`694/7`	-	-	-	-	-	172,350	21,205	-	21,205	21,205	21,205	21,205	2.0m	21,205	21,205	51,205	96,205	96,205	21,205	21,205
Return on contributions (dividend)`694`	-	-	-	-	-	172,350	21,205	-	21,205	21,205	21,205	21,205	2.0m	21,205	21,205	51,205	96,205	96,205	21,205	21,205
Social balance sheet
Average staff (FTE)`9087`	1.5	1.5	1.5	1.5	1.5	1.5	1.5	1.5	1.5	1.5	1.9	1.9	2	2	2	2	1.5	2.6	3.1	3
Hours worked`1013`	2,668	2,680	2,631	2,612	2,760	2,680	2,642	2,646	2,589	2,612	3,321	3,313	3,550	3,512	3,512	3,557	2,630	3,964	5,293	5,428
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	06-07-2026	2026-00256596	PDF
31-12-2024	abbreviated format	21-08-2025	2025-00389619	PDF
31-12-2023	abbreviated format	30-08-2024	2024-00417105	PDF
31-12-2022	abbreviated format	28-08-2023	2023-00361780	PDF
31-12-2021	abbreviated format	27-08-2022	2022-20328930	PDF
31-12-2020	abbreviated format	03-08-2021	2021-45500112	PDF
31-12-2019	abbreviated format	10-06-2020	2020-15800448	PDF
31-12-2018	abbreviated format	28-08-2019	2019-53100218	PDF
31-12-2017	abbreviated format	31-08-2018	2018-57000227	PDF
31-12-2016	abbreviated format	24-07-2017	2017-34500289	PDF
31-12-2015	abbreviated format	15-06-2016	2016-17800044	PDF
31-12-2014	abbreviated format	09-07-2015	2015-28600547	PDF
31-12-2013	abbreviated format	13-08-2014	2014-42400024	PDF
31-12-2012	abbreviated format	28-06-2013	2013-26500532	PDF
31-12-2011	abbreviated format	28-05-2012	2012-12500501	PDF
31-12-2010	abbreviated format	16-08-2011	2011-39800211	PDF
31-12-2009	abbreviated format	03-08-2010	2010-37600335	PDF
31-12-2008	abbreviated format	24-06-2009	2009-27100129	PDF
31-12-2007	abbreviated format	16-06-2008	2008-25100148	PDF
31-12-2006	abbreviated format	02-07-2007	2007-33400186	PDF
31-12-2005	abbreviated format	14-06-2006	2006-24501320	PDF
31-12-2004	abbreviated format	09-06-2005	2005-23202408	PDF
31-12-2003	abbreviated format	11-06-2004	2004-23501614	PDF
31-12-2002	abbreviated format	04-06-2003	2003-19305056	PDF
31-12-2001	abbreviated format	19-06-2002	2002-24000059	PDF
31-12-2000	abbreviated format	27-06-2001	2001-27803603	PDF
31-12-1999	abbreviated format	07-06-2000	2000-17500279	PDF
31-12-1998	abbreviated format	18-06-1999	1999-20205029	PDF
31-12-1997	abbreviated format	30-06-1998	1998-24802654	PDF
31-12-1996	abbreviated format	16-06-1997	1997-15103896	PDF
31-12-1995	abbreviated format	04-06-1996	1996-11801310	PDF
31-12-1994	abbreviated format	12-07-1995	1995-38404419	PDF
31-12-1993	abbreviated format	08-06-1994	1994-12801686	PDF
31-12-1992	abbreviated format	13-07-1993	1993-25601891	PDF
31-12-1991	abbreviated format	03-07-1992	1992-19202375	PDF
31-12-1990	abbreviated format	24-05-1991	1991-06100680	PDF
31-12-1989	abbreviated format	25-07-1990	1990-19102834	PDF
31-12-1988	abbreviated format	26-06-1989	1989-10804137	PDF
31-12-1987	abbreviated format	24-06-1988	1988-10202512	PDF
31-12-1986	abbreviated format	29-06-1987	1987-13001053	PDF
31-12-1985	abbreviated format	19-06-1986	1986-16800978	PDF
31-12-1984	full format	10-06-1985	1985-09401667	PDF
31-12-1983	unclassified schema	25-06-1984	1984-07200707	PDF
31-12-1982	unclassified schema	10-06-1983	1983-05102092	PDF
31-12-1981	unclassified schema	02-07-1982	1982-07802210	PDF
31-12-1980	unclassified schema	01-07-1981	1981-07302196	PDF
31-12-1979	unclassified schema	08-08-1980	1980-10200444	PDF
31-12-1978	unclassified schema	07-06-1979	1979-04402037	PDF
31-12-1977	unclassified schema	06-06-1978	1978-02002363	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	140,774	39,649	20,825	-17,621	-57,413	-170,105	-97,778	636	15,569	146,402	135,242	197,171	207,237	189,496	218,594	274,033	290,010	229,742	256,476	143,649
Cash flow	190,513	74,788	79,316	44,786	282,412	2.2m	899,564	39,032	499,689	1.1m	170,282	272,754	309,220	187,980	179,179	220,003	247,713	160,743	361,950	132,135
Investment in fixed assets	150,314	471,347	825,056	1.1m	2.3m	416,034	511,491	841,335	130,440	157,326	106,577	188,074	188,052	112,377	842,973	681,241	65,375	72,429	85,621	50,021
Change in cash	41,124	-225,347	-706,171	-949,773	-2.3m	826,099	1.1m	-296,735	688,716	1.3m	513,819	22,228	66,084	-7,530	-309,808	-322,463	-147,283	73,431	388,455	-
Working capital	64,003	45,771	466,099	1.3m	2.3m	4.6m	1.7m	468,123	629,733	2.3m	613,915	118,898	160,928	322,412	335,684	1.0m	1.5m	1.5m	1.5m	1.2m
Solvency	82.6%	82.7%	83.4%	82.7%	83.4%	79.8%	53.3%	48.1%	47.7%	87.6%	86.4%	86.5%	84.8%	88.5%	85.3%	87.4%	86.6%	86.2%	87.6%	85.0%
Current ratio	1.49	1.39	7.82	39.90	82.62	51.47	1.74	1.21	1.27	27.26	2.33	1.26	1.40	2.74	2.47	8.34	11.41	14.03	25.26	14.02
Debt to equity	0.04	0.03	0.02	0.03	0.01	0.02	0.70	0.92	0.94	0.03	0.16	0.16	0.14	0.07	0.09	0.05	0.06	0.06	0.03	0.05
ROE	-1.2%	-3.2%	-2.7%	-2.7%	2.3%	35.8%	25.5%	-2.5%	16.6%	23.7%	2.8%	6.1%	7.7%	3.7%	3.6%	6.1%	7.9%	4.7%	12.8%	4.5%
ROA	-1.0%	-2.7%	-2.2%	-2.2%	1.9%	28.5%	13.6%	-1.2%	7.9%	20.8%	2.4%	5.3%	6.5%	3.3%	3.1%	5.3%	6.8%	4.1%	11.2%	3.8%
Interest coverage	over 100	4.43	15.53	-4.84	-2.56	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	2	2	2	2	2
full-time	1	1	1	1	1
part-time	1	1	1	1	1
in full-time equivalents	1.5	1.5	1.5	1.5	1.5
Average over the year, in full-time equivalents	1.5	1.5	1.5	1.5	1.5
On a permanent contract	2	2	2	2	2

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€150,314	€471,347	€825,056	€1.1m	€2.3m
Depreciation and write-downs of the year	€256,396	€246,525	€226,687	€198,533	€150,054

Cagima

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency82.6%

Current ratio1.49

Return on assets-1.0%

Staff

Staff cost per FTE€93,298

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on Cagima

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