CADEH: 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.
What changed
CADEH
NACE 71.113, Urban planning and landscape architecture
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€50,113
2024 · €35,088+€15,025
Equity
€101,291
2024 · €51,178+€50,113
Cash
€63,990
2024 · €19,338+€44,652
Balance sheet total
€506,751
2024 · €467,627+€39,124
Largest movements
Assets
- Cash +€44,652
up €44,652 (+230.9%), from €19,338 to €63,990
mainly Net result for the year (+€50,113) and Depreciation (+€14,288)
Equity and liabilities
- Reserves +€50,113
up €50,113 (+192.7%), from €26,001 to €76,114
- Debts after one year -€18,910
down €18,910 (-4.9%), from €387,777 to €368,868
Income statement
- Gross operating margin +€21,148
up €21,148 (+28.0%), from €75,451 to €96,599
- Taxes +€7,237
up €7,237 (+51.6%), from €14,022 to €21,259
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.
Result 2024
€35,088
Gross operating margin
+€21,148
Depreciation
+€351
Other operating charges
+€264
Financial income
-€7
Financial charges
+€506
Taxes
-€7,237
Result 2025
€50,113
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.
From operations
+€72,339
Investment
-€9,290
Financing
-€18,397
Cash 2024
€19,338
From operations (derived)
+€72,339
Net result for the year
+€50,113
Depreciation
+€14,288
Receivables within one year
-€2,154
Deferred charges and accrued income
+€2,683
Trade debts
+€2,476
Tax, wage and social debts
+€5,061
Other debts
-€129
Investment (derived)
-€9,290
Investment in fixed assets (net)
-€9,290
Financing
-€18,397
Debts after one year
-€18,910
Current portion of long-term debt
+€512
Cash 2025
€63,990
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €467,627 | €506,751 | +€39,124 | +8.4% |
| Fixed assets | 21/28 | €304,471 | €299,473 | -€4,998 | -1.6% |
| Tangible fixed assets | 22/27 | €304,471 | €299,473 | -€4,998 | -1.6% |
| Land and buildings | 22 | €300,355 | €296,712 | -€3,643 | -1.2% |
| Plant, machinery and equipment | 23 | €657 | €321 | -€336 | -51.1% |
| Furniture and vehicles | 24 | €3,459 | €2,439 | -€1,020 | -29.5% |
| Current assets | 29/58 | €163,156 | €207,278 | +€44,123 | +27.0% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,054 | €16,207 | +€2,154 | +15.3% |
| Trade receivables | 40 | €9,620 | €12,669 | +€3,049 | +31.7% |
| Other amounts receivable | 41 | €4,434 | €3,539 | -€896 | -20.2% |
| Cash at bank and in hand | 54/58 | €19,338 | €63,990 | +€44,652 | +230.9% |
| Deferred charges and accrued income | 490/1 | €9,764 | €7,081 | -€2,683 | -27.5% |
| Total equity and liabilities | 10/49 | €467,627 | €506,751 | +€39,124 | +8.4% |
| Equity | 10/15 | €51,178 | €101,291 | +€50,113 | +97.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €18,978 | €18,978 | = | 0.0% |
| Reserves | 13 | €26,001 | €76,114 | +€50,113 | +192.7% |
| Distributable reserves | 133 | €26,001 | €76,114 | +€50,113 | +192.7% |
| Amounts payable | 17/49 | €416,449 | €405,460 | -€10,989 | -2.6% |
| Amounts payable after more than one year | 17 | €387,777 | €368,868 | -€18,910 | -4.9% |
| Financial debts | 170/4 | €387,777 | €368,868 | -€18,910 | -4.9% |
| Amounts payable within one year | 42/48 | €28,671 | €36,592 | +€7,921 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €18,397 | €18,910 | +€512 | +2.8% |
| Trade debts | 44 | €2,199 | €4,675 | +€2,476 | +112.6% |
| Suppliers | 440/4 | €2,199 | €4,675 | +€2,476 | +112.6% |
| Taxes, remuneration and social security | 45 | €7,947 | €13,008 | +€5,061 | +63.7% |
| Taxes | 450/3 | €7,947 | €13,008 | +€5,061 | +63.7% |
| Other amounts payable | 47/48 | €129 | - | -€129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,639 | €14,288 | -€351 | -2.4% |
| Other operating charges | 640/8 | €3,016 | €2,752 | -€264 | -8.7% |
| Gross operating margin | 9900 | €75,451 | €96,599 | +€21,148 | +28.0% |
| Operating profit (loss) | 9901 | €57,796 | €79,559 | +€21,763 | +37.7% |
| Financial income | 75/76B | €1,591 | €1,584 | -€7 | -0.4% |
| Recurring financial income | 75 | €1,591 | €1,584 | -€7 | -0.4% |
| Financial charges | 65/66B | €10,277 | €9,772 | -€506 | -4.9% |
| Recurring financial charges | 65 | €10,277 | €9,772 | -€506 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €49,109 | €71,372 | +€22,262 | +45.3% |
| Income taxes | 67/77 | €14,022 | €21,259 | +€7,237 | +51.6% |
| Profit (loss) for the period | 9904 | €35,088 | €50,113 | +€15,025 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,088 | €50,113 | +€15,025 | +42.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.