C.A.D.: 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.
C.A.D.
Largest movements
- Cash +€144,342
up €144,342 (+333.1%), from €43,336 to €187,678
mainly Receivables within one year (+€99,428) and Other debts (+€80,033)
- Receivables within one year -€99,428
down €99,428 (-87.9%), from €113,067 to €13,639
of which Trade receivables: -€63,307
- Tangible fixed assets -€64,165
down €64,165 (-5.7%), from €1.1m to €1.1m
of which Land and buildings: -€41,831
- Reserves -€93,006
down €93,006 (-12.4%), from €747,195 to €654,189
of which Distributable reserves: -€93,006
- Other debts +€80,033
up €80,033 (+23.0%), from €347,289 to €427,322
- Gross operating margin +€54,146
up €54,146 (+131.7%), from €41,101 to €95,247
- Financial income -€9,048
down €9,048 (-99.9%), from €9,061 to €13
- Depreciation -€6,865
down €6,865 (-8.6%), from €79,719 to €72,854
- Financial charges -€1,716
down €1,716 (-11.1%), from €15,439 to €13,723
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 | €1,283,525 | €1,265,687 | -€17,838 | -1.4% |
| Fixed assets | 21/28 | €1,124,420 | €1,060,255 | -€64,165 | -5.7% |
| Tangible fixed assets | 22/27 | €1,124,420 | €1,060,255 | -€64,165 | -5.7% |
| Land and buildings | 22 | €996,746 | €954,915 | -€41,831 | -4.2% |
| Plant, machinery and equipment | 23 | €64,783 | €58,451 | -€6,333 | -9.8% |
| Furniture and vehicles | 24 | €62,891 | €46,889 | -€16,002 | -25.4% |
| Current assets | 29/58 | €159,105 | €205,432 | +€46,327 | +29.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €113,067 | €13,639 | -€99,428 | -87.9% |
| Trade receivables | 40 | €76,945 | €13,639 | -€63,307 | -82.3% |
| Other amounts receivable | 41 | €36,121 | €0 | -€36,121 | -100.0% |
| Cash at bank and in hand | 54/58 | €43,336 | €187,678 | +€144,342 | +333.1% |
| Deferred charges and accrued income | 490/1 | €2,703 | €4,115 | +€1,413 | +52.3% |
| Total equity and liabilities | 10/49 | €1,283,525 | €1,265,687 | -€17,838 | -1.4% |
| Equity | 10/15 | €765,795 | €672,789 | -€93,006 | -12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €747,195 | €654,189 | -€93,006 | -12.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €745,335 | €652,329 | -€93,006 | -12.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €115,952 | €111,121 | -€4,831 | -4.2% |
| Deferred taxes | 168 | €115,952 | €111,121 | -€4,831 | -4.2% |
| Amounts payable | 17/49 | €401,779 | €481,778 | +€79,999 | +19.9% |
| Amounts payable after more than one year | 17 | €12,002 | €0 | -€12,002 | -100.0% |
| Financial debts | 170/4 | €12,002 | €0 | -€12,002 | -100.0% |
| Amounts payable within one year | 42/48 | €376,816 | €456,071 | +€79,255 | +21.0% |
| Current portion of amounts payable after more than one year | 42 | €24,016 | €12,002 | -€12,014 | -50.0% |
| Trade debts | 44 | €5,468 | €5,614 | +€146 | +2.7% |
| Suppliers | 440/4 | €5,468 | €5,614 | +€146 | +2.7% |
| Taxes, remuneration and social security | 45 | €42 | €11,133 | +€11,090 | +26224.7% |
| Taxes | 450/3 | €42 | €11,133 | +€11,090 | +26224.7% |
| Other amounts payable | 47/48 | €347,289 | €427,322 | +€80,033 | +23.0% |
| Accrued charges and deferred income | 492/3 | €12,960 | €25,707 | +€12,746 | +98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,719 | €72,854 | -€6,865 | -8.6% |
| Other operating charges | 640/8 | €5,463 | €5,619 | +€156 | +2.8% |
| Gross operating margin | 9900 | €41,101 | €95,247 | +€54,146 | +131.7% |
| Operating profit (loss) | 9901 | -€44,081 | €16,775 | +€60,856 | |
| Financial income | 75/76B | €9,061 | €13 | -€9,048 | -99.9% |
| Recurring financial income | 75 | €9,061 | €13 | -€9,048 | -99.9% |
| Financial charges | 65/66B | €15,439 | €13,723 | -€1,716 | -11.1% |
| Recurring financial charges | 65 | €15,439 | €13,723 | -€1,716 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€50,459 | €3,065 | +€53,524 | |
| Transfer from deferred taxes | 780 | €4,831 | €4,831 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €398 | €902 | +€505 | +127.0% |
| Profit (loss) for the period | 9904 | -€46,025 | €6,994 | +€53,019 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,025 | €6,994 | +€53,019 |
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 12 October 2026 via checked.be.