CADE: 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.
CADE
Largest movements
- Tangible fixed assets +€160,152
up €160,152 (+126.5%), from €126,560 to €286,712
of which Land and buildings: +€168,112
- Cash -€99,110
down €99,110 (-89.6%), from €110,569 to €11,459
mainly Investment in fixed assets (net) (-€207,839) and Contributions, distributions and other (-€130,000)
- Debts after one year +€132,032
up €132,032 (+1300.1%), from €10,155 to €142,188
- Reserves -€80,253
down €80,253 (-38.9%), from €206,309 to €126,056
of which Distributable reserves: -€80,253
- Trade debts +€7,750
up €7,750 (+89.1%), from €8,695 to €16,445
- Depreciation +€22,189
up €22,189 (+87.0%), from €25,497 to €47,687
- Gross operating margin +€21,539
up €21,539 (+23.4%), from €92,101 to €113,640
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 | €261,549 | €321,615 | +€60,066 | +23.0% |
| Fixed assets | 21/28 | €126,560 | €286,712 | +€160,152 | +126.5% |
| Tangible fixed assets | 22/27 | €126,560 | €286,712 | +€160,152 | +126.5% |
| Land and buildings | 22 | - | €168,112 | +€168,112 | |
| Plant, machinery and equipment | 23 | €109,524 | €90,993 | -€18,531 | -16.9% |
| Furniture and vehicles | 24 | €9,887 | €21,797 | +€11,910 | +120.5% |
| Other tangible fixed assets | 26 | €7,148 | €5,809 | -€1,339 | -18.7% |
| Current assets | 29/58 | €134,990 | €34,904 | -€100,086 | -74.1% |
| Amounts receivable within one year | 40/41 | €23,216 | €22,673 | -€543 | -2.3% |
| Trade receivables | 40 | €15,045 | €18,551 | +€3,505 | +23.3% |
| Other amounts receivable | 41 | €8,171 | €4,123 | -€4,048 | -49.5% |
| Current investments | 50/53 | - | €533 | +€533 | |
| Cash at bank and in hand | 54/58 | €110,569 | €11,459 | -€99,110 | -89.6% |
| Deferred charges and accrued income | 490/1 | €1,205 | €239 | -€966 | -80.2% |
| Total equity and liabilities | 10/49 | €261,549 | €321,615 | +€60,066 | +23.0% |
| Equity | 10/15 | €224,909 | €144,656 | -€80,253 | -35.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €206,309 | €126,056 | -€80,253 | -38.9% |
| 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 | €204,449 | €124,196 | -€80,253 | -39.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €36,640 | €176,959 | +€140,319 | +383.0% |
| Amounts payable after more than one year | 17 | €10,155 | €142,188 | +€132,032 | +1300.1% |
| Financial debts | 170/4 | €10,155 | €142,188 | +€132,032 | +1300.1% |
| Amounts payable within one year | 42/48 | €26,485 | €34,772 | +€8,287 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €16,496 | €17,968 | +€1,472 | +8.9% |
| Trade debts | 44 | €8,695 | €16,445 | +€7,750 | +89.1% |
| Suppliers | 440/4 | €8,695 | €16,445 | +€7,750 | +89.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,293 | €358 | -€935 | -72.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,497 | €47,687 | +€22,189 | +87.0% |
| Other operating charges | 640/8 | €1,813 | €2,638 | +€826 | +45.5% |
| Gross operating margin | 9900 | €92,101 | €113,640 | +€21,539 | +23.4% |
| Operating profit (loss) | 9901 | €64,791 | €63,315 | -€1,475 | -2.3% |
| Financial income | 75/76B | €298 | €1,245 | +€947 | +317.6% |
| Recurring financial income | 75 | €298 | €1,245 | +€947 | +317.6% |
| Financial charges | 65/66B | €628 | €618 | -€10 | -1.6% |
| Recurring financial charges | 65 | €628 | €618 | -€10 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €64,461 | €63,943 | -€518 | -0.8% |
| Income taxes | 67/77 | €14,119 | €14,196 | +€77 | +0.5% |
| Profit (loss) for the period | 9904 | €50,342 | €49,747 | -€595 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,342 | €49,747 | -€595 | -1.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.