CABEXCO: 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.
CABEXCO
Largest movements
- Financial fixed assets +€20,000
up €20,000 (+9.5%), from €210,095 to €230,095
- Cash +€7,965
up €7,965 (+245.4%), from €3,246 to €11,211
mainly Net result for the year (+€16,142) and Advances received (+€12,925)
- Receivables within one year +€6,436
up €6,436 (+33.7%), from €19,116 to €25,552
of which Trade receivables: +€6,768
- Reserves +€16,000
up €16,000 (+15.2%), from €105,400 to €121,400
- Advances received +€12,925
up €12,925 (+21.7%), from €59,451 to €72,376
- Trade debts +€6,008
up €6,008 (+37.3%), from €16,111 to €22,118
- Short-term financial debts -€4,889
down €4,889 (-18.1%), from €26,999 to €22,110
- Tax, wage and social debts +€3,794
up €3,794 (+64.1%), from €5,923 to €9,718
of which Taxes: +€4,069
- Gross operating margin +€14,482
up €14,482 (+36.0%), from €40,257 to €54,739
- Staff costs +€726
up €726 (+2.7%), from €27,368 to €28,094
- Depreciation -€629
down €629 (-65.9%), from €954 to €325
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 | €236,277 | €270,256 | +€33,979 | +14.4% |
| Fixed assets | 21/28 | €212,957 | €232,632 | +€19,675 | +9.2% |
| Tangible fixed assets | 22/27 | €2,862 | €2,537 | -€325 | -11.4% |
| Land and buildings | 22 | €2,862 | €2,537 | -€325 | -11.4% |
| Financial fixed assets | 28 | €210,095 | €230,095 | +€20,000 | +9.5% |
| Current assets | 29/58 | €23,320 | €37,624 | +€14,305 | +61.3% |
| Amounts receivable within one year | 40/41 | €19,116 | €25,552 | +€6,436 | +33.7% |
| Trade receivables | 40 | €17,933 | €24,701 | +€6,768 | +37.7% |
| Other amounts receivable | 41 | €1,183 | €851 | -€333 | -28.1% |
| Cash at bank and in hand | 54/58 | €3,246 | €11,211 | +€7,965 | +245.4% |
| Deferred charges and accrued income | 490/1 | €957 | €861 | -€96 | -10.1% |
| Total equity and liabilities | 10/49 | €236,277 | €270,256 | +€33,979 | +14.4% |
| Equity | 10/15 | €126,094 | €142,236 | +€16,142 | +12.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €105,400 | €121,400 | +€16,000 | +15.2% |
| Distributable reserves | 133 | €105,400 | €121,400 | +€16,000 | +15.2% |
| Profit (loss) carried forward | 14 | €234 | €376 | +€142 | +60.7% |
| Amounts payable | 17/49 | €110,183 | €128,021 | +€17,837 | +16.2% |
| Amounts payable within one year | 42/48 | €110,183 | €128,021 | +€17,837 | +16.2% |
| Financial debts | 43 | €26,999 | €22,110 | -€4,889 | -18.1% |
| Credit institutions | 430/8 | €26,999 | €22,110 | -€4,889 | -18.1% |
| Trade debts | 44 | €16,111 | €22,118 | +€6,008 | +37.3% |
| Suppliers | 440/4 | €16,111 | €22,118 | +€6,008 | +37.3% |
| Advances received on contracts in progress | 46 | €59,451 | €72,376 | +€12,925 | +21.7% |
| Taxes, remuneration and social security | 45 | €5,923 | €9,718 | +€3,794 | +64.1% |
| Taxes | 450/3 | €1,001 | €5,070 | +€4,069 | +406.6% |
| Remuneration and social security | 454/9 | €4,923 | €4,648 | -€275 | -5.6% |
| Other amounts payable | 47/48 | €1,698 | €1,698 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €27,368 | €28,094 | +€726 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €954 | €325 | -€629 | -65.9% |
| Other operating charges | 640/8 | €1,331 | €1,524 | +€193 | +14.5% |
| Gross operating margin | 9900 | €40,257 | €54,739 | +€14,482 | +36.0% |
| Operating profit (loss) | 9901 | €10,603 | €24,795 | +€14,192 | +133.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,549 | €4,640 | +€90 | +2.0% |
| Recurring financial charges | 65 | €4,549 | €4,640 | +€90 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €6,054 | €20,156 | +€14,102 | +232.9% |
| Income taxes | 67/77 | €3,696 | €4,014 | +€318 | +8.6% |
| Profit (loss) for the period | 9904 | €2,358 | €16,142 | +€13,784 | +584.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,358 | €16,142 | +€13,784 | +584.6% |
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 3 October 2026 via checked.be.