CAFERMI: what changed
What changed
CAFERMI
NACE 47.241, Retail sale of bread and pastry (bakery outlets)
filed annual accounts (NBB)
Net result for the year
€178,823
2024 · €125,740+€53,083
Equity
€1.1m
2024 · €908,417+€178,823
Cash
€182,944
2024 · €95,765+€87,179
Balance sheet total
€1.5m
2024 · €1.3m+€225,292
Largest movements
Assets
- Stocks and contracts +€117,571
up €117,571 (+20.1%), from €583,969 to €701,541
- Cash +€87,179
up €87,179 (+91.0%), from €95,765 to €182,944
mainly Net result for the year (+€178,823) and Depreciation (+€69,689)
- Receivables within one year +€26,057
up €26,057 (+16.2%), from €160,365 to €186,422
of which Trade receivables: +€26,060
Equity and liabilities
- Reserves +€160,000
up €160,000 (+31.6%), from €505,859 to €665,859
of which Distributable reserves: +€160,000
- Tax, wage and social debts +€28,511
up €28,511 (+29.6%), from €96,416 to €124,927
of which Taxes: +€25,402
- Trade debts +€24,821
up €24,821 (+1,137%), from €2,183 to €27,003
- Profit (loss) carried forward +€18,823
up €18,823 (+4.9%), from €383,958 to €402,781
Income statement
- Taxes +€23,926
up €23,926 (+46.4%), from €51,525 to €75,452
- Gross operating margin +€17,905
up €17,905 (+4.0%), from €445,512 to €463,417
- Staff costs +€16,386
up €16,386 (+16.3%), from €100,779 to €117,166
- Depreciation +€8,466
up €8,466 (+13.8%), from €61,223 to €69,689
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€125,740
Gross operating margin
+€17,905
Staff costs
-€16,386
Depreciation
-€8,466
Other operating charges
-€1,226
Other operating items
+€86,805
Financial income
-€1,283
Financial charges
-€339
Taxes
-€23,926
Result 2025
€178,823
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€155,999
Investment
-€61,956
Financing
-€6,863
Cash 2024
€95,765
From operations (derived)
+€155,999
Net result for the year
+€178,823
Depreciation
+€69,689
Stocks and contracts
-€117,571
Receivables within one year
-€26,057
Deferred charges and accrued income
-€2,217
Trade debts
+€24,821
Tax, wage and social debts
+€28,511
Investment (derived)
-€61,956
Investment in fixed assets (net)
-€61,956
Financing
-€6,863
Debts after one year
-€14,468
Current portion of long-term debt
+€7,605
Cash 2025
€182,944
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,323,125 | €1,548,416 | +€225,292 | +17.0% |
| Fixed assets | 21/28 | €474,195 | €466,462 | -€7,733 | -1.6% |
| Tangible fixed assets | 22/27 | €474,195 | €466,462 | -€7,733 | -1.6% |
| Land and buildings | 22 | €393,015 | €357,157 | -€35,858 | -9.1% |
| Plant, machinery and equipment | 23 | €40,081 | €46,796 | +€6,715 | +16.8% |
| Furniture and vehicles | 24 | €41,099 | €62,509 | +€21,410 | +52.1% |
| Current assets | 29/58 | €848,930 | €1,081,954 | +€233,024 | +27.4% |
| Stocks and contracts in progress | 3 | €583,969 | €701,541 | +€117,571 | +20.1% |
| Stocks | 30/36 | €583,969 | €701,541 | +€117,571 | +20.1% |
| Amounts receivable within one year | 40/41 | €160,365 | €186,422 | +€26,057 | +16.2% |
| Trade receivables | 40 | €149,693 | €175,754 | +€26,060 | +17.4% |
| Other amounts receivable | 41 | €10,672 | €10,668 | -€4 | 0.0% |
| Cash at bank and in hand | 54/58 | €95,765 | €182,944 | +€87,179 | +91.0% |
| Deferred charges and accrued income | 490/1 | €8,831 | €11,047 | +€2,217 | +25.1% |
| Total equity and liabilities | 10/49 | €1,323,125 | €1,548,416 | +€225,292 | +17.0% |
| Equity | 10/15 | €908,417 | €1,087,240 | +€178,823 | +19.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €505,859 | €665,859 | +€160,000 | +31.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €504,000 | €664,000 | +€160,000 | +31.7% |
| Profit (loss) carried forward | 14 | €383,958 | €402,781 | +€18,823 | +4.9% |
| Amounts payable | 17/49 | €414,707 | €461,176 | +€46,469 | +11.2% |
| Amounts payable after more than one year | 17 | €236,313 | €221,845 | -€14,468 | -6.1% |
| Financial debts | 170/4 | €236,313 | €221,845 | -€14,468 | -6.1% |
| Amounts payable within one year | 42/48 | €178,395 | €239,331 | +€60,936 | +34.2% |
| Current portion of amounts payable after more than one year | 42 | €79,796 | €87,401 | +€7,605 | +9.5% |
| Trade debts | 44 | €2,183 | €27,003 | +€24,821 | +1,137% |
| Suppliers | 440/4 | €2,183 | €27,003 | +€24,821 | +1,137% |
| Taxes, remuneration and social security | 45 | €96,416 | €124,927 | +€28,511 | +29.6% |
| Taxes | 450/3 | €74,499 | €99,900 | +€25,402 | +34.1% |
| Remuneration and social security | 454/9 | €21,918 | €25,027 | +€3,109 | +14.2% |
| Remuneration, social security and pensions | 62 | €100,779 | €117,166 | +€16,386 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,223 | €69,689 | +€8,466 | +13.8% |
| Other operating charges | 640/8 | €10,194 | €11,419 | +€1,226 | +12.0% |
| Non-recurring operating charges | 66A | €86,805 | - | -€86,805 | |
| Gross operating margin | 9900 | €445,512 | €463,417 | +€17,905 | +4.0% |
| Operating profit (loss) | 9901 | €186,512 | €265,143 | +€78,631 | +42.2% |
| Financial income | 75/76B | €1,571 | €289 | -€1,283 | -81.6% |
| Recurring financial income | 75 | €176 | €289 | +€113 | +64.0% |
| Non-recurring financial income | 76B | €1,395 | - | -€1,395 | |
| Financial charges | 65/66B | €10,818 | €11,157 | +€339 | +3.1% |
| Recurring financial charges | 65 | €10,818 | €11,157 | +€339 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €177,265 | €254,275 | +€77,009 | +43.4% |
| Income taxes | 67/77 | €51,525 | €75,452 | +€23,926 | +46.4% |
| Profit (loss) for the period | 9904 | €125,740 | €178,823 | +€53,083 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €125,740 | €178,823 | +€53,083 | +42.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.