CADRABEL: 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.
CADRABEL
Largest movements
- Receivables within one year +€46,241
new in 2025: €46,241
of which Trade receivables: +€26,234
- Tangible fixed assets -€11,264
down €11,264 (-15.3%), from €73,470 to €62,206
of which Other tangible fixed assets: -€10,432
- Cash -€5,170
down €5,170 (-1.7%), from €309,412 to €304,242
mainly Receivables within one year (-€46,241) and Trade debts (-€12,073)
- Intangible fixed assets -€5,000
down €5,000 (-16.9%), from €29,507 to €24,507
- Profit (loss) carried forward +€36,583
up €36,583 (+20.2%), from €181,328 to €217,911
- Trade debts -€12,073
down €12,073 (-8.4%), from €143,478 to €131,405
- Gross operating margin -€12,638
down €12,638 (-7.0%), from €179,917 to €167,279
- Staff costs +€11,121
up €11,121 (+12.9%), from €86,132 to €97,254
- Taxes -€5,948
down €5,948 (-32.6%), from €18,263 to €12,315
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 | €421,054 | €448,804 | +€27,750 | +6.6% |
| Fixed assets | 21/28 | €102,977 | €86,713 | -€16,264 | -15.8% |
| Intangible fixed assets | 21 | €29,507 | €24,507 | -€5,000 | -16.9% |
| Tangible fixed assets | 22/27 | €73,470 | €62,206 | -€11,264 | -15.3% |
| Plant, machinery and equipment | 23 | €3,904 | €3,072 | -€832 | -21.3% |
| Other tangible fixed assets | 26 | €69,566 | €59,135 | -€10,432 | -15.0% |
| Current assets | 29/58 | €318,077 | €362,091 | +€44,014 | +13.8% |
| Stocks and contracts in progress | 3 | €8,664 | €11,608 | +€2,944 | +34.0% |
| Stocks | 30/36 | €8,664 | €11,608 | +€2,944 | +34.0% |
| Amounts receivable within one year | 40/41 | - | €46,241 | +€46,241 | |
| Trade receivables | 40 | - | €26,234 | +€26,234 | |
| Other amounts receivable | 41 | - | €20,007 | +€20,007 | |
| Cash at bank and in hand | 54/58 | €309,412 | €304,242 | -€5,170 | -1.7% |
| Total equity and liabilities | 10/49 | €421,054 | €448,804 | +€27,750 | +6.6% |
| Equity | 10/15 | €201,328 | €237,911 | +€36,583 | +18.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €181,328 | €217,911 | +€36,583 | +20.2% |
| Amounts payable | 17/49 | €219,726 | €210,893 | -€8,833 | -4.0% |
| Amounts payable within one year | 42/48 | €219,726 | €210,893 | -€8,833 | -4.0% |
| Trade debts | 44 | €143,478 | €131,405 | -€12,073 | -8.4% |
| Suppliers | 440/4 | €143,478 | €131,405 | -€12,073 | -8.4% |
| Taxes, remuneration and social security | 45 | €68,515 | €71,756 | +€3,241 | +4.7% |
| Taxes | 450/3 | €46,285 | €41,764 | -€4,521 | -9.8% |
| Remuneration and social security | 454/9 | €22,230 | €29,992 | +€7,762 | +34.9% |
| Other amounts payable | 47/48 | €7,732 | €7,732 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €86,132 | €97,254 | +€11,121 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,690 | €16,264 | +€575 | +3.7% |
| Other operating charges | 640/8 | €1,153 | €291 | -€862 | -74.8% |
| Gross operating margin | 9900 | €179,917 | €167,279 | -€12,638 | -7.0% |
| Operating profit (loss) | 9901 | €76,941 | €53,470 | -€23,471 | -30.5% |
| Financial income | 75/76B | - | €185 | +€185 | |
| Recurring financial income | 75 | - | €185 | +€185 | |
| Financial charges | 65/66B | €4,295 | €4,757 | +€462 | +10.8% |
| Recurring financial charges | 65 | €4,295 | €4,757 | +€462 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €72,646 | €48,898 | -€23,748 | -32.7% |
| Income taxes | 67/77 | €18,263 | €12,315 | -€5,948 | -32.6% |
| Profit (loss) for the period | 9904 | €54,383 | €36,583 | -€17,800 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,383 | €36,583 | -€17,800 | -32.7% |
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 10 October 2026 via checked.be.