CACTUS MGMT Group: 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.
CACTUS MGMT Group
Largest movements
- Current investments -€1.0m
no longer reported in 2025 (was €1.0m)
- Tangible fixed assets +€976,132
up €976,132 (+86.0%), from €1.1m to €2.1m
of which Land and buildings: +€968,160
- Receivables within one year +€271,365
up €271,365 (+401%), from €67,681 to €339,046
of which Trade receivables: +€337,328
- Cash -€217,246
down €217,246 (-29.8%), from €729,230 to €511,984
mainly Contributions, distributions and other (-€1.9m) and Investment in fixed assets (net) (-€1.1m)
- Intangible fixed assets -€36,777
down €36,777 (-45.8%), from €80,277 to €43,500
- Profit (loss) carried forward -€272,108
down €272,108 (-12.4%), from €2.2m to €1.9m
- Tax, wage and social debts +€160,199
up €160,199 (+147%), from €108,714 to €268,913
of which Taxes: +€153,746
- Other debts +€130,469
up €130,469 (+74.4%), from €175,444 to €305,913
- Debts after one year -€48,822
down €48,822 (-9.2%), from €528,404 to €479,582
- Gross operating margin +€742,022
up €742,022 (+45.9%), from €1.6m to €2.4m
- Taxes +€133,438
up €133,438 (+34.1%), from €391,508 to €524,947
- Depreciation +€126,523
up €126,523 (+154%), from €82,329 to €208,852
- Staff costs +€48,594
up €48,594 (+1,437%), from €3,381 to €51,974
- Financial income -€23,983
down €23,983 (-57.5%), from €41,698 to €17,716
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 | €3,054,229 | €3,032,868 | -€21,361 | -0.7% |
| Fixed assets | 21/28 | €1,215,290 | €2,154,646 | +€939,355 | +77.3% |
| Intangible fixed assets | 21 | €80,277 | €43,500 | -€36,777 | -45.8% |
| Tangible fixed assets | 22/27 | €1,135,013 | €2,111,146 | +€976,132 | +86.0% |
| Land and buildings | 22 | €1,085,955 | €2,054,115 | +€968,160 | +89.2% |
| Plant, machinery and equipment | 23 | €33,001 | €46,305 | +€13,305 | +40.3% |
| Furniture and vehicles | 24 | €16,058 | €9,577 | -€6,481 | -40.4% |
| Assets under construction and advance payments | 27 | - | €1,148 | +€1,148 | |
| Current assets | 29/58 | €1,838,939 | €878,223 | -€960,716 | -52.2% |
| Amounts receivable within one year | 40/41 | €67,681 | €339,046 | +€271,365 | +401% |
| Trade receivables | 40 | €519 | €337,847 | +€337,328 | +64,983% |
| Other amounts receivable | 41 | €67,162 | €1,198 | -€65,963 | -98.2% |
| Current investments | 50/53 | €1,006,204 | - | -€1.0m | |
| Cash at bank and in hand | 54/58 | €729,230 | €511,984 | -€217,246 | -29.8% |
| Deferred charges and accrued income | 490/1 | €35,824 | €27,193 | -€8,631 | -24.1% |
| Total equity and liabilities | 10/49 | €3,054,229 | €3,032,868 | -€21,361 | -0.7% |
| Equity | 10/15 | €2,193,201 | €1,921,092 | -€272,108 | -12.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,188,201 | €1,916,092 | -€272,108 | -12.4% |
| Amounts payable | 17/49 | €861,028 | €1,111,776 | +€250,748 | +29.1% |
| Amounts payable after more than one year | 17 | €528,404 | €479,582 | -€48,822 | -9.2% |
| Financial debts | 170/4 | €528,404 | €479,582 | -€48,822 | -9.2% |
| Amounts payable within one year | 42/48 | €332,502 | €632,194 | +€299,692 | +90.1% |
| Current portion of amounts payable after more than one year | 42 | €48,344 | €48,822 | +€478 | +1.0% |
| Trade debts | 44 | - | €8,547 | +€8,547 | |
| Suppliers | 440/4 | - | €8,547 | +€8,547 | |
| Taxes, remuneration and social security | 45 | €108,714 | €268,913 | +€160,199 | +147% |
| Taxes | 450/3 | €108,714 | €262,459 | +€153,746 | +141% |
| Remuneration and social security | 454/9 | - | €6,453 | +€6,453 | |
| Other amounts payable | 47/48 | €175,444 | €305,913 | +€130,469 | +74.4% |
| Accrued charges and deferred income | 492/3 | €122 | - | -€122 | |
| Remuneration, social security and pensions | 62 | €3,381 | €51,974 | +€48,594 | +1,437% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,329 | €208,852 | +€126,523 | +154% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,350 | -€6,350 | -€12,700 | |
| Other operating charges | 640/8 | €6,441 | €13,903 | +€7,462 | +116% |
| Gross operating margin | 9900 | €1,617,367 | €2,359,388 | +€742,022 | +45.9% |
| Operating profit (loss) | 9901 | €1,518,866 | €2,091,009 | +€572,143 | +37.7% |
| Financial income | 75/76B | €41,698 | €17,716 | -€23,983 | -57.5% |
| Recurring financial income | 75 | €41,698 | €17,716 | -€23,983 | -57.5% |
| Financial charges | 65/66B | €6,345 | €5,886 | -€459 | -7.2% |
| Recurring financial charges | 65 | €6,345 | €5,886 | -€459 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €1,554,220 | €2,102,838 | +€548,618 | +35.3% |
| Income taxes | 67/77 | €391,508 | €524,947 | +€133,438 | +34.1% |
| Profit (loss) for the period | 9904 | €1,162,711 | €1,577,892 | +€415,180 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,162,711 | €1,577,892 | +€415,180 | +35.7% |
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 19 October 2026 via checked.be.