CAF: 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.
CAF
Largest movements
- Cash +€14,284
up €14,284 (+30.9%), from €46,285 to €60,569
mainly Net result for the year (+€20,505) and Depreciation (+€8,281)
- Tangible fixed assets -€8,281
down €8,281 (-1.6%), from €518,350 to €510,068
of which Land and buildings: -€6,441
- Reserves +€20,000
up €20,000 (+11.3%), from €176,620 to €196,620
of which Distributable reserves: +€20,000
- Other debts -€11,253
down €11,253 (-19.0%), from €59,077 to €47,824
- Gross operating margin +€1,740
up €1,740 (+3.1%), from €56,632 to €58,372
- Depreciation -€1,340
down €1,340 (-13.9%), from €9,622 to €8,281
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 | €565,146 | €571,563 | +€6,417 | +1.1% |
| Fixed assets | 21/28 | €518,350 | €510,068 | -€8,281 | -1.6% |
| Tangible fixed assets | 22/27 | €518,350 | €510,068 | -€8,281 | -1.6% |
| Land and buildings | 22 | €516,509 | €510,068 | -€6,441 | -1.2% |
| Plant, machinery and equipment | 23 | €1,840 | €0 | -€1,840 | -100.0% |
| Current assets | 29/58 | €46,796 | €61,495 | +€14,699 | +31.4% |
| Amounts receivable within one year | 40/41 | €511 | €926 | +€415 | +81.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €511 | €926 | +€415 | +81.2% |
| Cash at bank and in hand | 54/58 | €46,285 | €60,569 | +€14,284 | +30.9% |
| Total equity and liabilities | 10/49 | €565,146 | €571,563 | +€6,417 | +1.1% |
| Equity | 10/15 | €228,725 | €249,230 | +€20,505 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €176,620 | €196,620 | +€20,000 | +11.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €174,760 | €194,760 | +€20,000 | +11.4% |
| Profit (loss) carried forward | 14 | €33,505 | €34,010 | +€505 | +1.5% |
| Amounts payable | 17/49 | €336,421 | €322,334 | -€14,087 | -4.2% |
| Amounts payable after more than one year | 17 | €258,000 | €258,000 | = | 0.0% |
| Financial debts | 170/4 | €258,000 | €258,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €78,421 | €64,334 | -€14,087 | -18.0% |
| Trade debts | 44 | €3,700 | €0 | -€3,700 | -100.0% |
| Suppliers | 440/4 | €3,700 | €0 | -€3,700 | -100.0% |
| Taxes, remuneration and social security | 45 | €15,643 | €16,509 | +€866 | +5.5% |
| Taxes | 450/3 | €15,643 | €16,509 | +€866 | +5.5% |
| Other amounts payable | 47/48 | €59,077 | €47,824 | -€11,253 | -19.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,622 | €8,281 | -€1,340 | -13.9% |
| Other operating charges | 640/8 | €5,261 | €4,985 | -€276 | -5.2% |
| Gross operating margin | 9900 | €56,632 | €58,372 | +€1,740 | +3.1% |
| Operating profit (loss) | 9901 | €41,749 | €45,106 | +€3,357 | +8.0% |
| Financial charges | 65/66B | €13,047 | €12,645 | -€402 | -3.1% |
| Recurring financial charges | 65 | €13,047 | €12,645 | -€402 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €28,702 | €32,461 | +€3,759 | +13.1% |
| Income taxes | 67/77 | €12,220 | €11,956 | -€264 | -2.2% |
| Profit (loss) for the period | 9904 | €16,482 | €20,505 | +€4,023 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,482 | €20,505 | +€4,023 | +24.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.