CADUS: 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.
What changed
CADUS
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€161,370
2024 · -€183,981+€22,611
Equity
€4.5m
2024 · €4.7m-€161,370
Cash
€235
2024 · €0+€235
Balance sheet total
€11.5m
2024 · €11.3m+€120,082
Largest movements
Assets
- Receivables within one year +€323,517
up €323,517 (+44.2%), from €732,357 to €1.1m
of which Other amounts receivable: +€402,893
- Tangible fixed assets -€206,371
down €206,371 (-8.4%), from €2.5m to €2.3m
of which Other tangible fixed assets: -€198,084
Equity and liabilities
- Debts after one year +€472,213
up €472,213 (+11.5%), from €4.1m to €4.6m
- Other debts -€162,413
down €162,413 (-10.7%), from €1.5m to €1.4m
- Revaluation surpluses -€149,445
down €149,445 (-10.5%), from €1.4m to €1.3m
Income statement
- Services and other goods -€129,099
down €129,099 (-15.2%), from €847,994 to €718,895
- Turnover -€116,997
down €116,997 (-9.5%), from €1.2m to €1.1m
- Financial income +€30,391
up €30,391 (+261%), from €11,649 to €42,040
of which Financial income: +€30,391
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
-€183,981
Turnover
-€116,997
Other operating income
-€9,919
Services and other goods
+€129,099
Staff costs
-€356
Depreciation
-€3,022
Other operating charges
+€1,766
Other operating items
-€5,857
Financial income
+€30,391
Financial charges
-€8,098
Taxes
+€5,605
Result 2025
-€161,370
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€437,211
Investment
-€28,898
Financing
+€466,344
Cash 2024
€0
From operations (derived)
-€437,211
Net result for the year
-€161,370
Depreciation
+€235,269
Receivables within one year
-€323,517
Deferred charges and accrued income
-€2,701
Trade debts
-€9,944
Tax, wage and social debts
-€16,328
Other debts
-€162,413
Accrued charges and deferred income
+€3,794
Investment (derived)
-€28,898
Investment in fixed assets (net)
-€28,898
Financing
+€466,344
Debts after one year
+€472,213
Current portion of long-term debt
-€38,233
Short-term financial debts
+€32,364
Cash 2025
€235
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,337,023 | €11,457,105 | +€120,082 | +1.1% |
| Fixed assets | 21/28 | €10,604,666 | €10,398,295 | -€206,371 | -1.9% |
| Tangible fixed assets | 22/27 | €2,456,464 | €2,250,093 | -€206,371 | -8.4% |
| Land and buildings | 22 | €680,405 | €660,021 | -€20,385 | -3.0% |
| Plant, machinery and equipment | 23 | €41,753 | €35,196 | -€6,557 | -15.7% |
| Furniture and vehicles | 24 | €3,806 | €22,461 | +€18,654 | +490% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,730,499 | €1,532,415 | -€198,084 | -11.4% |
| Financial fixed assets | 28 | €8,148,203 | €8,148,203 | = | 0.0% |
| Affiliated companies | 280/1 | €7,360,052 | €7,360,052 | = | 0.0% |
| Participating interests | 280 | €6,562,852 | €6,562,852 | = | 0.0% |
| Amounts receivable | 281 | €797,200 | €797,200 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €788,151 | €788,151 | = | 0.0% |
| Participating interests | 282 | €694,151 | €711,651 | +€17,500 | +2.5% |
| Amounts receivable | 283 | €94,000 | €76,500 | -€17,500 | -18.6% |
| Current assets | 29/58 | €732,357 | €1,058,810 | +€326,453 | +44.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €732,357 | €1,055,874 | +€323,517 | +44.2% |
| Trade receivables | 40 | €502,852 | €423,476 | -€79,376 | -15.8% |
| Other amounts receivable | 41 | €229,505 | €632,398 | +€402,893 | +176% |
| Cash at bank and in hand | 54/58 | €0 | €235 | +€235 | |
| Deferred charges and accrued income | 490/1 | - | €2,701 | +€2,701 | |
| Total equity and liabilities | 10/49 | €11,337,023 | €11,457,105 | +€120,082 | +1.1% |
| Equity | 10/15 | €4,667,410 | €4,506,041 | -€161,370 | -3.5% |
| Contributions | 10/11 | €523,474 | €523,474 | = | 0.0% |
| Capital | 10 | €523,474 | €523,474 | = | 0.0% |
| Issued capital | 100 | €523,474 | €523,474 | = | 0.0% |
| Revaluation surpluses | 12 | €1,420,497 | €1,271,052 | -€149,445 | -10.5% |
| Reserves | 13 | €2,723,439 | €2,711,515 | -€11,924 | -0.4% |
| Non-distributable reserves | 130/1 | €52,347 | €52,347 | = | 0.0% |
| Legal reserve | 130 | €52,347 | €52,347 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,928 | €22,928 | = | 0.0% |
| Distributable reserves | 133 | €2,648,164 | €2,636,240 | -€11,924 | -0.5% |
| Amounts payable | 17/49 | €6,669,613 | €6,951,065 | +€281,452 | +4.2% |
| Amounts payable after more than one year | 17 | €4,098,456 | €4,570,669 | +€472,213 | +11.5% |
| Financial debts | 170/4 | €4,098,456 | €4,570,669 | +€472,213 | +11.5% |
| Leasing and similar obligations | 172 | €0 | - | = | |
| Credit institutions | 173 | €2,351,456 | €1,896,669 | -€454,787 | -19.3% |
| Other loans | 174 | €1,747,000 | €2,674,000 | +€927,000 | +53.1% |
| Amounts payable within one year | 42/48 | €2,569,934 | €2,375,380 | -€194,554 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €444,562 | €406,329 | -€38,233 | -8.6% |
| Financial debts | 43 | €4,086 | €36,450 | +€32,364 | +792% |
| Credit institutions | 430/8 | €4,086 | €36,450 | +€32,364 | +792% |
| Trade debts | 44 | €465,891 | €455,947 | -€9,944 | -2.1% |
| Suppliers | 440/4 | €465,891 | €455,947 | -€9,944 | -2.1% |
| Taxes, remuneration and social security | 45 | €141,102 | €124,774 | -€16,328 | -11.6% |
| Taxes | 450/3 | €100,831 | €62,596 | -€38,235 | -37.9% |
| Remuneration and social security | 454/9 | €40,271 | €62,178 | +€21,907 | +54.4% |
| Other amounts payable | 47/48 | €1,514,292 | €1,351,879 | -€162,413 | -10.7% |
| Accrued charges and deferred income | 492/3 | €1,223 | €5,017 | +€3,794 | +310% |
| Operating income | 70/76A | €1,285,444 | €1,141,908 | -€143,537 | -11.2% |
| Turnover | 70 | €1,233,669 | €1,116,672 | -€116,997 | -9.5% |
| Other operating income | 74 | €35,055 | €25,136 | -€9,919 | -28.3% |
| Non-recurring operating income | 76A | €16,720 | €100 | -€16,620 | -99.4% |
| Operating charges | 60/66A | €1,344,870 | €1,206,620 | -€138,250 | -10.3% |
| Services and other goods | 61 | €847,994 | €718,895 | -€129,099 | -15.2% |
| Remuneration, social security and pensions | 62 | €176,594 | €176,950 | +€356 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,247 | €235,269 | +€3,022 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €77,272 | €75,506 | -€1,766 | -2.3% |
| Non-recurring operating charges | 66A | €10,763 | €0 | -€10,763 | -100% |
| Operating profit (loss) | 9901 | -€59,426 | -€64,713 | -€5,287 | -8.9% |
| Financial income | 75/76B | €11,649 | €42,040 | +€30,391 | +261% |
| Recurring financial income | 75 | €11,649 | €42,040 | +€30,391 | +261% |
| Income from financial fixed assets | 750 | - | €42,040 | +€42,040 | |
| Other financial income | 752/9 | €11,649 | €0 | -€11,649 | -100% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €129,183 | €137,281 | +€8,098 | +6.3% |
| Recurring financial charges | 65 | €129,183 | €137,281 | +€8,098 | +6.3% |
| Debt charges | 650 | €125,022 | €133,271 | +€8,248 | +6.6% |
| Other financial charges | 652/9 | €4,161 | €4,010 | -€150 | -3.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€176,960 | -€159,954 | +€17,006 | +9.6% |
| Income taxes | 67/77 | €7,021 | €1,416 | -€5,605 | -79.8% |
| Taxes | 670/3 | €7,021 | €1,416 | -€5,605 | -79.8% |
| Profit (loss) for the period | 9904 | -€183,981 | -€161,370 | +€22,611 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€183,981 | -€161,370 | +€22,611 | +12.3% |
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 18 October 2026 via checked.be.