Caenen: 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.
Caenen
Largest movements
- Cash +€162,385
up €162,385 (+47.3%), from €343,057 to €505,443
mainly Receivables within one year (+€146,746) and Depreciation (+€85,191)
- Receivables within one year -€146,746
down €146,746 (-59.6%), from €246,373 to €99,626
of which Trade receivables: -€156,163
- Tangible fixed assets -€85,191
down €85,191 (-18.5%), from €459,423 to €374,232
of which Plant, machinery and equipment: -€43,000
- Advances received -€35,000
no longer reported in 2025 (was €35,000)
- Debts after one year -€27,334
no longer reported in 2025 (was €27,334)
- Reserves +€26,842
up €26,842 (+3.0%), from €900,237 to €927,080
- Current portion of long-term debt -€13,277
down €13,277 (-32.7%), from €40,611 to €27,334
- Staff costs +€15,015
up €15,015 (+15.2%), from €98,837 to €113,852
- Taxes -€4,165
down €4,165 (-26.5%), from €15,732 to €11,567
- Depreciation +€4,119
up €4,119 (+5.1%), from €81,072 to €85,191
- Gross operating margin +€3,251
up €3,251 (+1.4%), from €228,832 to €232,083
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 | €1,133,290 | €1,065,839 | -€67,450 | -6.0% |
| Fixed assets | 21/28 | €459,423 | €374,232 | -€85,191 | -18.5% |
| Tangible fixed assets | 22/27 | €459,423 | €374,232 | -€85,191 | -18.5% |
| Land and buildings | 22 | €90,020 | €79,024 | -€10,996 | -12.2% |
| Plant, machinery and equipment | 23 | €288,984 | €245,984 | -€43,000 | -14.9% |
| Furniture and vehicles | 24 | €80,420 | €49,225 | -€31,195 | -38.8% |
| Current assets | 29/58 | €673,866 | €691,607 | +€17,741 | +2.6% |
| Stocks and contracts in progress | 3 | €77,871 | €78,365 | +€494 | +0.6% |
| Stocks | 30/36 | €77,871 | €78,365 | +€494 | +0.6% |
| Amounts receivable within one year | 40/41 | €246,373 | €99,626 | -€146,746 | -59.6% |
| Trade receivables | 40 | €238,323 | €82,160 | -€156,163 | -65.5% |
| Other amounts receivable | 41 | €8,050 | €17,466 | +€9,417 | +117.0% |
| Cash at bank and in hand | 54/58 | €343,057 | €505,443 | +€162,385 | +47.3% |
| Deferred charges and accrued income | 490/1 | €6,565 | €8,173 | +€1,608 | +24.5% |
| Total equity and liabilities | 10/49 | €1,133,290 | €1,065,839 | -€67,450 | -6.0% |
| Equity | 10/15 | €925,237 | €952,080 | +€26,842 | +2.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €900,237 | €927,080 | +€26,842 | +3.0% |
| Distributable reserves | 133 | €900,237 | €927,080 | +€26,842 | +3.0% |
| Amounts payable | 17/49 | €208,052 | €113,760 | -€94,293 | -45.3% |
| Amounts payable after more than one year | 17 | €27,334 | - | -€27,334 | |
| Financial debts | 170/4 | €27,334 | - | -€27,334 | |
| Amounts payable within one year | 42/48 | €160,987 | €96,726 | -€64,261 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €40,611 | €27,334 | -€13,277 | -32.7% |
| Trade debts | 44 | €3,822 | €4,193 | +€371 | +9.7% |
| Suppliers | 440/4 | €3,822 | €4,193 | +€371 | +9.7% |
| Advances received on contracts in progress | 46 | €35,000 | - | -€35,000 | |
| Taxes, remuneration and social security | 45 | €19,928 | €9,901 | -€10,027 | -50.3% |
| Taxes | 450/3 | €12,722 | €1,229 | -€11,492 | -90.3% |
| Remuneration and social security | 454/9 | €7,207 | €8,671 | +€1,465 | +20.3% |
| Other amounts payable | 47/48 | €61,626 | €55,299 | -€6,327 | -10.3% |
| Accrued charges and deferred income | 492/3 | €19,731 | €17,033 | -€2,698 | -13.7% |
| Non-recurring operating income | 76A | €5,496 | €10,013 | +€4,516 | +82.2% |
| Remuneration, social security and pensions | 62 | €98,837 | €113,852 | +€15,015 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,072 | €85,191 | +€4,119 | +5.1% |
| Other operating charges | 640/8 | €3,800 | €2,230 | -€1,569 | -41.3% |
| Gross operating margin | 9900 | €228,832 | €232,083 | +€3,251 | +1.4% |
| Operating profit (loss) | 9901 | €45,124 | €30,809 | -€14,315 | -31.7% |
| Financial income | 75/76B | €12,084 | €10,560 | -€1,524 | -12.6% |
| Recurring financial income | 75 | €12,084 | €10,560 | -€1,524 | -12.6% |
| Financial charges | 65/66B | €4,227 | €2,961 | -€1,266 | -30.0% |
| Recurring financial charges | 65 | €4,227 | €2,961 | -€1,266 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €52,981 | €38,409 | -€14,572 | -27.5% |
| Income taxes | 67/77 | €15,732 | €11,567 | -€4,165 | -26.5% |
| Profit (loss) for the period | 9904 | €37,250 | €26,842 | -€10,407 | -27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,250 | €26,842 | -€10,407 | -27.9% |
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 3 October 2026 via checked.be.