CADUSEN: 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.
CADUSEN
Largest movements
- Cash +€44,915
up €44,915 (+141.9%), from €31,642 to €76,557
mainly Net result for the year (+€49,434) and Short-term financial debts (+€9,452)
- Current investments +€12,000
up €12,000 (+52.2%), from €23,000 to €35,000
- Receivables within one year +€5,697
up €5,697 (+62.7%), from €9,083 to €14,780
- Reserves +€48,601
up €48,601 (+81.4%), from €59,732 to €108,333
- Short-term financial debts +€9,452
up €9,452 (+371.0%), from €2,548 to €12,000
- Tax, wage and social debts +€6,450
new in 2025: €6,450
- Trade debts -€2,240
down €2,240 (-86.2%), from €2,598 to €358
- Gross operating margin +€32,666
up €32,666 (+75.4%), from €43,320 to €75,986
- Taxes +€9,040
up €9,040 (+86.8%), from €10,412 to €19,452
- Financial charges -€1,287
down €1,287 (-18.8%), from €6,863 to €5,576
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 | €68,737 | €130,974 | +€62,237 | +90.5% |
| Fixed assets | 21/28 | €2,564 | €2,024 | -€541 | -21.1% |
| Tangible fixed assets | 22/27 | €2,564 | €2,024 | -€541 | -21.1% |
| Other tangible fixed assets | 26 | €2,564 | €2,024 | -€541 | -21.1% |
| Current assets | 29/58 | €66,172 | €128,950 | +€62,778 | +94.9% |
| Amounts receivable within one year | 40/41 | €9,083 | €14,780 | +€5,697 | +62.7% |
| Other amounts receivable | 41 | €9,083 | €14,780 | +€5,697 | +62.7% |
| Current investments | 50/53 | €23,000 | €35,000 | +€12,000 | +52.2% |
| Cash at bank and in hand | 54/58 | €31,642 | €76,557 | +€44,915 | +141.9% |
| Deferred charges and accrued income | 490/1 | €2,447 | €2,613 | +€166 | +6.8% |
| Total equity and liabilities | 10/49 | €68,737 | €130,974 | +€62,237 | +90.5% |
| Equity | 10/15 | €62,732 | €111,333 | +€48,601 | +77.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €59,732 | €108,333 | +€48,601 | +81.4% |
| Distributable reserves | 133 | €59,732 | €108,333 | +€48,601 | +81.4% |
| Amounts payable | 17/49 | €6,005 | €19,641 | +€13,636 | +227.1% |
| Amounts payable within one year | 42/48 | €6,005 | €19,641 | +€13,636 | +227.1% |
| Financial debts | 43 | €2,548 | €12,000 | +€9,452 | +371.0% |
| Credit institutions | 430/8 | €2,548 | €12,000 | +€9,452 | +371.0% |
| Trade debts | 44 | €2,598 | €358 | -€2,240 | -86.2% |
| Suppliers | 440/4 | €2,598 | €358 | -€2,240 | -86.2% |
| Taxes, remuneration and social security | 45 | - | €6,450 | +€6,450 | |
| Taxes | 450/3 | - | €6,450 | +€6,450 | |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139 | €541 | +€402 | +289.4% |
| Other operating charges | 640/8 | €1,451 | €1,219 | -€232 | -16.0% |
| Gross operating margin | 9900 | €43,320 | €75,986 | +€32,666 | +75.4% |
| Operating profit (loss) | 9901 | €41,730 | €74,226 | +€32,496 | +77.9% |
| Financial income | 75/76B | €286 | €237 | -€49 | -17.2% |
| Recurring financial income | 75 | €286 | €237 | -€49 | -17.2% |
| Financial charges | 65/66B | €6,863 | €5,576 | -€1,287 | -18.8% |
| Recurring financial charges | 65 | €6,863 | €5,576 | -€1,287 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €35,153 | €68,887 | +€33,734 | +96.0% |
| Income taxes | 67/77 | €10,412 | €19,452 | +€9,040 | +86.8% |
| Profit (loss) for the period | 9904 | €24,740 | €49,434 | +€24,694 | +99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,740 | €49,434 | +€24,694 | +99.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.