Cabay & fils: 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.
Cabay & fils
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Cash +€183,030
up €183,030 (+128%), from €143,051 to €326,082
mainly Net result for the year (+€304,541) and Current investments (+€200,000)
- Intangible fixed assets -€63,278
down €63,278 (-17.4%), from €363,850 to €300,571
- Deferred charges and accrued income +€25,821
up €25,821 (+26.7%), from €96,543 to €122,364
- Tangible fixed assets +€16,084
up €16,084 (+3.5%), from €461,303 to €477,387
of which Furniture and vehicles: +€50,145
- Current portion of long-term debt -€53,588
down €53,588 (-69.2%), from €77,451 to €23,863
- Other debts +€50,000
up €50,000 (+18.1%), from €275,805 to €325,805
- Debts after one year -€23,863
down €23,863 (-41.1%), from €58,039 to €34,176
- Profit (loss) carried forward -€20,459
down €20,459 (-7.3%), from €281,981 to €261,521
- Staff costs +€55,189
up €55,189 (+19.4%), from €284,736 to €339,925
- Gross operating margin -€37,120
down €37,120 (-4.1%), from €915,270 to €878,150
- Taxes -€31,029
down €31,029 (-24.5%), from €126,520 to €95,492
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 | €1,274,547 | €1,236,259 | -€38,288 | -3.0% |
| Fixed assets | 21/28 | €825,153 | €777,959 | -€47,194 | -5.7% |
| Intangible fixed assets | 21 | €363,850 | €300,571 | -€63,278 | -17.4% |
| Tangible fixed assets | 22/27 | €461,303 | €477,387 | +€16,084 | +3.5% |
| Land and buildings | 22 | €350,872 | €316,811 | -€34,061 | -9.7% |
| Furniture and vehicles | 24 | €110,431 | €160,576 | +€50,145 | +45.4% |
| Current assets | 29/58 | €449,394 | €458,300 | +€8,906 | +2.0% |
| Amounts receivable within one year | 40/41 | €9,800 | €9,855 | +€55 | +0.6% |
| Trade receivables | 40 | - | €55 | +€55 | |
| Other amounts receivable | 41 | €9,800 | €9,800 | = | 0.0% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €143,051 | €326,082 | +€183,030 | +128% |
| Deferred charges and accrued income | 490/1 | €96,543 | €122,364 | +€25,821 | +26.7% |
| Total equity and liabilities | 10/49 | €1,274,547 | €1,236,259 | -€38,288 | -3.0% |
| Equity | 10/15 | €792,072 | €771,613 | -€20,459 | -2.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €448,092 | €448,092 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €410,592 | €410,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €281,981 | €261,521 | -€20,459 | -7.3% |
| Amounts payable | 17/49 | €482,475 | €464,646 | -€17,829 | -3.7% |
| Amounts payable after more than one year | 17 | €58,039 | €34,176 | -€23,863 | -41.1% |
| Financial debts | 170/4 | €58,039 | €34,176 | -€23,863 | -41.1% |
| Amounts payable within one year | 42/48 | €423,838 | €430,470 | +€6,632 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €77,451 | €23,863 | -€53,588 | -69.2% |
| Trade debts | 44 | €3,390 | €5,605 | +€2,215 | +65.4% |
| Suppliers | 440/4 | €3,390 | €5,605 | +€2,215 | +65.4% |
| Taxes, remuneration and social security | 45 | €67,191 | €75,196 | +€8,005 | +11.9% |
| Taxes | 450/3 | €30,785 | €32,459 | +€1,675 | +5.4% |
| Remuneration and social security | 454/9 | €36,406 | €42,737 | +€6,331 | +17.4% |
| Other amounts payable | 47/48 | €275,805 | €325,805 | +€50,000 | +18.1% |
| Accrued charges and deferred income | 492/3 | €598 | - | -€598 | |
| Non-recurring operating income | 76A | €79,362 | - | -€79,362 | |
| Remuneration, social security and pensions | 62 | €284,736 | €339,925 | +€55,189 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,057 | €129,017 | +€4,959 | +4.0% |
| Other operating charges | 640/8 | €7,921 | €6,606 | -€1,316 | -16.6% |
| Gross operating margin | 9900 | €915,270 | €878,150 | -€37,120 | -4.1% |
| Operating profit (loss) | 9901 | €498,555 | €402,603 | -€95,952 | -19.2% |
| Financial income | 75/76B | €3,457 | €997 | -€2,460 | -71.2% |
| Recurring financial income | 75 | €3,457 | €997 | -€2,460 | -71.2% |
| Financial charges | 65/66B | €6,645 | €3,568 | -€3,078 | -46.3% |
| Recurring financial charges | 65 | €5,012 | €3,568 | -€1,444 | -28.8% |
| Non-recurring financial charges | 66B | €1,633 | - | -€1,633 | |
| Profit (loss) for the period before taxes | 9903 | €495,367 | €400,032 | -€95,335 | -19.2% |
| Income taxes | 67/77 | €126,520 | €95,492 | -€31,029 | -24.5% |
| Profit (loss) for the period | 9904 | €368,847 | €304,541 | -€64,306 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €368,847 | €304,541 | -€64,306 | -17.4% |
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 22 October 2026 via checked.be.