CAERUS: 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.
CAERUS
Largest movements
- Current investments +€117,100
up €117,100 (+195.2%), from €60,000 to €177,100
- Receivables within one year -€78,959
down €78,959 (-80.3%), from €98,344 to €19,385
of which Other amounts receivable: -€98,344
- Cash +€77,826
up €77,826 (+39.2%), from €198,722 to €276,547
mainly Net result for the year (+€87,720) and Receivables within one year (+€78,959)
- Tangible fixed assets -€6,424
down €6,424 (-73.8%), from €8,706 to €2,282
of which Other tangible fixed assets: -€6,100
- Reserves +€87,720
up €87,720 (+24.3%), from €360,914 to €448,634
- Tax, wage and social debts +€21,524
up €21,524 (+34.0%), from €63,245 to €84,769
- Gross operating margin -€143,707
down €143,707 (-57.0%), from €251,952 to €108,246
- Financial income -€41,868
down €41,868 (-83.0%), from €50,415 to €8,546
- Taxes -€41,673
down €41,673 (-63.4%), from €65,761 to €24,088
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 | €436,033 | €541,360 | +€105,327 | +24.2% |
| Fixed assets | 21/28 | €60,662 | €54,237 | -€6,424 | -10.6% |
| Tangible fixed assets | 22/27 | €8,706 | €2,282 | -€6,424 | -73.8% |
| Furniture and vehicles | 24 | €2,606 | €2,282 | -€324 | -12.4% |
| Other tangible fixed assets | 26 | €6,100 | €0 | -€6,100 | -100.0% |
| Financial fixed assets | 28 | €51,955 | €51,955 | = | 0.0% |
| Current assets | 29/58 | €375,371 | €487,123 | +€111,751 | +29.8% |
| Amounts receivable within one year | 40/41 | €98,344 | €19,385 | -€78,959 | -80.3% |
| Trade receivables | 40 | - | €19,385 | +€19,385 | |
| Other amounts receivable | 41 | €98,344 | €0 | -€98,344 | -100.0% |
| Current investments | 50/53 | €60,000 | €177,100 | +€117,100 | +195.2% |
| Cash at bank and in hand | 54/58 | €198,722 | €276,547 | +€77,826 | +39.2% |
| Deferred charges and accrued income | 490/1 | €18,306 | €14,090 | -€4,216 | -23.0% |
| Total equity and liabilities | 10/49 | €436,033 | €541,360 | +€105,327 | +24.2% |
| Equity | 10/15 | €363,414 | €451,134 | +€87,720 | +24.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €360,914 | €448,634 | +€87,720 | +24.3% |
| Distributable reserves | 133 | €360,914 | €448,634 | +€87,720 | +24.3% |
| Amounts payable | 17/49 | €72,619 | €90,226 | +€17,607 | +24.2% |
| Amounts payable within one year | 42/48 | €72,192 | €89,958 | +€17,767 | +24.6% |
| Trade debts | 44 | €3,616 | €2,507 | -€1,109 | -30.7% |
| Suppliers | 440/4 | €3,616 | €2,507 | -€1,109 | -30.7% |
| Taxes, remuneration and social security | 45 | €63,245 | €84,769 | +€21,524 | +34.0% |
| Taxes | 450/3 | €63,245 | €84,769 | +€21,524 | +34.0% |
| Other amounts payable | 47/48 | €5,331 | €2,682 | -€2,648 | -49.7% |
| Accrued charges and deferred income | 492/3 | €428 | €267 | -€160 | -37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,140 | €1,493 | +€353 | +31.0% |
| Other operating charges | 640/8 | €216 | €732 | +€517 | +239.9% |
| Gross operating margin | 9900 | €251,952 | €108,246 | -€143,707 | -57.0% |
| Operating profit (loss) | 9901 | €250,597 | €106,020 | -€144,577 | -57.7% |
| Financial income | 75/76B | €50,415 | €8,546 | -€41,868 | -83.0% |
| Recurring financial income | 75 | €50,415 | €8,546 | -€41,868 | -83.0% |
| Financial charges | 65/66B | €2,304 | €2,758 | +€454 | +19.7% |
| Recurring financial charges | 65 | €2,304 | €2,758 | +€454 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €298,707 | €111,808 | -€186,899 | -62.6% |
| Income taxes | 67/77 | €65,761 | €24,088 | -€41,673 | -63.4% |
| Profit (loss) for the period | 9904 | €232,946 | €87,720 | -€145,226 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €232,946 | €87,720 | -€145,226 | -62.3% |
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 8 October 2026 via checked.be.