C.A.C.: 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.
C.A.C.
Largest movements
- Current investments +€2.4m
up €2.4m (+17.7%), from €13.6m to €16.0m
- Receivables within one year -€1.0m
down €1.0m (-59.5%), from €1.7m to €685,452
of which Other amounts receivable: -€1.0m
- Cash +€817,930
up €817,930 (+1232.2%), from €66,378 to €884,307
mainly Net result for the year (+€1.7m) and Receivables within one year (+€1.0m)
- Reserves +€1.7m
up €1.7m (+11.3%), from €15.2m to €16.9m
of which Distributable reserves: +€1.7m
- Tax, wage and social debts +€514,643
up €514,643 (+139.2%), from €369,740 to €884,384
- Financial income +€1.5m
up €1.5m (+127.6%), from €1.2m to €2.7m
- Financial charges +€407,086
up €407,086 (+1761.8%), from €23,107 to €430,193
- Taxes +€244,694
up €244,694 (+66.5%), from €368,100 to €612,794
- Gross operating margin +€50,414
up €50,414, from -€13,490 to €36,924
- Other operating charges -€12,627
down €12,627 (-57.2%), from €22,063 to €9,436
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 | €15,565,312 | €17,789,624 | +€2.2m | +14.3% |
| Fixed assets | 21/28 | €179,936 | €177,528 | -€2,408 | -1.3% |
| Tangible fixed assets | 22/27 | €179,936 | €177,528 | -€2,408 | -1.3% |
| Land and buildings | 22 | €161,302 | €161,302 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,252 | €3,252 | = | 0.0% |
| Furniture and vehicles | 24 | €15,382 | €12,975 | -€2,408 | -15.7% |
| Current assets | 29/58 | €15,385,376 | €17,612,095 | +€2.2m | +14.5% |
| Amounts receivable within one year | 40/41 | €1,690,635 | €685,452 | -€1.0m | -59.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,690,635 | €685,452 | -€1.0m | -59.5% |
| Current investments | 50/53 | €13,627,617 | €16,041,080 | +€2.4m | +17.7% |
| Cash at bank and in hand | 54/58 | €66,378 | €884,307 | +€817,930 | +1232.2% |
| Deferred charges and accrued income | 490/1 | €747 | €1,256 | +€510 | +68.3% |
| Total equity and liabilities | 10/49 | €15,565,312 | €17,789,624 | +€2.2m | +14.3% |
| Equity | 10/15 | €15,193,189 | €16,902,960 | +€1.7m | +11.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €15,173,189 | €16,882,960 | +€1.7m | +11.3% |
| Non-distributable reserves | 130/1 | €13,014 | €13,014 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,014 | €13,014 | = | 0.0% |
| Distributable reserves | 133 | €15,160,174 | €16,869,945 | +€1.7m | +11.3% |
| Amounts payable | 17/49 | €372,124 | €886,664 | +€514,540 | +138.3% |
| Amounts payable within one year | 42/48 | €372,124 | €886,664 | +€514,540 | +138.3% |
| Trade debts | 44 | €103 | €0 | -€103 | -100.0% |
| Suppliers | 440/4 | €103 | €0 | -€103 | -100.0% |
| Taxes, remuneration and social security | 45 | €369,740 | €884,384 | +€514,643 | +139.2% |
| Taxes | 450/3 | €369,740 | €884,384 | +€514,643 | +139.2% |
| Other amounts payable | 47/48 | €2,280 | €2,280 | = | 0.0% |
| Non-recurring operating income | 76A | - | €32,682 | +€32,682 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,408 | €2,408 | = | 0.0% |
| Other operating charges | 640/8 | €22,063 | €9,436 | -€12,627 | -57.2% |
| Gross operating margin | 9900 | -€13,490 | €36,924 | +€50,414 | |
| Operating profit (loss) | 9901 | -€37,960 | €25,081 | +€63,041 | |
| Financial income | 75/76B | €1,198,211 | €2,727,678 | +€1.5m | +127.6% |
| Recurring financial income | 75 | €1,198,211 | €2,727,678 | +€1.5m | +127.6% |
| Financial charges | 65/66B | €23,107 | €430,193 | +€407,086 | +1761.8% |
| Recurring financial charges | 65 | €23,107 | €430,193 | +€407,086 | +1761.8% |
| Profit (loss) for the period before taxes | 9903 | €1,137,144 | €2,322,565 | +€1.2m | +104.2% |
| Income taxes | 67/77 | €368,100 | €612,794 | +€244,694 | +66.5% |
| Profit (loss) for the period | 9904 | €769,044 | €1,709,771 | +€940,727 | +122.3% |
| Profit (loss) for the period to be appropriated | 9905 | €769,044 | €1,709,771 | +€940,727 | +122.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.