Cadot: 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.
Cadot
Largest movements
- Tangible fixed assets -€3,364
down €3,364 (-16.0%), from €21,081 to €17,717
of which Plant, machinery and equipment: -€2,417
- Receivables within one year +€1,000
up €1,000 (+132%), from €760 to €1,760
of which Other amounts receivable: +€1,074
- Formation expenses -€903
down €903 (-100%), from €903 to €0
- Deferred charges and accrued income +€896
up €896 (+408%), from €220 to €1,116
- Cash -€456
down €456 (-6.2%), from €7,365 to €6,909
mainly Debts after one year (-€5,016) and Other debts (-€3,856)
- Debts after one year -€5,016
down €5,016 (-51.0%), from €9,836 to €4,819
- Other debts -€3,856
down €3,856 (-81.4%), from €4,736 to €880
- Reserves +€3,269
up €3,269 (+73.3%), from €4,457 to €7,726
- Trade debts +€2,199
new in 2025: €2,199
- Accrued charges and deferred income +€312
new in 2025: €312
- Gross operating margin +€5,492
up €5,492 (+32.9%), from €16,684 to €22,176
- Staff costs +€4,629
up €4,629 (+91.0%), from €5,088 to €9,717
- Depreciation +€2,700
up €2,700 (+77.8%), from €3,470 to €6,170
- Taxes -€646
down €646 (-33.9%), from €1,906 to €1,260
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 | €30,329 | €27,502 | -€2,828 | -9.3% |
| Formation expenses | 20 | €903 | €0 | -€903 | -100% |
| Fixed assets | 21/28 | €21,081 | €17,717 | -€3,364 | -16.0% |
| Tangible fixed assets | 22/27 | €21,081 | €17,717 | -€3,364 | -16.0% |
| Plant, machinery and equipment | 23 | €12,144 | €9,727 | -€2,417 | -19.9% |
| Furniture and vehicles | 24 | - | €975 | +€975 | |
| Other tangible fixed assets | 26 | €8,937 | €7,015 | -€1,922 | -21.5% |
| Current assets | 29/58 | €8,345 | €9,784 | +€1,440 | +17.3% |
| Amounts receivable within one year | 40/41 | €760 | €1,760 | +€1,000 | +132% |
| Trade receivables | 40 | €74 | €0 | -€74 | -100% |
| Other amounts receivable | 41 | €686 | €1,760 | +€1,074 | +157% |
| Cash at bank and in hand | 54/58 | €7,365 | €6,909 | -€456 | -6.2% |
| Deferred charges and accrued income | 490/1 | €220 | €1,116 | +€896 | +408% |
| Total equity and liabilities | 10/49 | €30,329 | €27,502 | -€2,828 | -9.3% |
| Equity | 10/15 | €9,457 | €12,726 | +€3,269 | +34.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,457 | €7,726 | +€3,269 | +73.3% |
| Distributable reserves | 133 | €4,457 | €7,726 | +€3,269 | +73.3% |
| Amounts payable | 17/49 | €20,873 | €14,776 | -€6,097 | -29.2% |
| Amounts payable after more than one year | 17 | €9,836 | €4,819 | -€5,016 | -51.0% |
| Financial debts | 170/4 | €9,836 | €4,819 | -€5,016 | -51.0% |
| Amounts payable within one year | 42/48 | €11,037 | €9,644 | -€1,393 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €4,777 | €5,016 | +€240 | +5.0% |
| Trade debts | 44 | - | €2,199 | +€2,199 | |
| Suppliers | 440/4 | - | €2,199 | +€2,199 | |
| Taxes, remuneration and social security | 45 | €1,524 | €1,549 | +€25 | +1.6% |
| Taxes | 450/3 | €1,524 | €1,549 | +€25 | +1.6% |
| Other amounts payable | 47/48 | €4,736 | €880 | -€3,856 | -81.4% |
| Accrued charges and deferred income | 492/3 | - | €312 | +€312 | |
| Remuneration, social security and pensions | 62 | €5,088 | €9,717 | +€4,629 | +91.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,470 | €6,170 | +€2,700 | +77.8% |
| Other operating charges | 640/8 | €779 | €913 | +€134 | +17.1% |
| Gross operating margin | 9900 | €16,684 | €22,176 | +€5,492 | +32.9% |
| Operating profit (loss) | 9901 | €7,347 | €5,376 | -€1,971 | -26.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €985 | €847 | -€137 | -14.0% |
| Recurring financial charges | 65 | €985 | €847 | -€137 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €6,363 | €4,529 | -€1,834 | -28.8% |
| Income taxes | 67/77 | €1,906 | €1,260 | -€646 | -33.9% |
| Profit (loss) for the period | 9904 | €4,457 | €3,269 | -€1,188 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,457 | €3,269 | -€1,188 | -26.7% |
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 13 October 2026 via checked.be.