CAFIN: what changed
Two financial 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.
CAFIN
Largest movements
- Financial fixed assets +€1.9m
up €1.9m (+113.6%), from €1.7m to €3.6m
- Current investments +€75,000
new in 2025: €75,000
- Receivables within one year +€48,738
up €48,738 (+161.3%), from €30,220 to €78,958
of which Other amounts receivable: +€69,338
- Revaluation surpluses +€1.9m
new in 2025: €1.9m
- Other debts +€604,976
up €604,976 (+602.3%), from €100,441 to €705,417
- Reserves -€477,250
down €477,250 (-27.9%), from €1.7m to €1.2m
- Tax, wage and social debts +€45,000
new in 2025: €45,000
- Financial income +€139,725
up €139,725 (+162.8%), from €85,815 to €225,540
- Gross operating margin -€50,133
down €50,133 (-41.5%), from €120,669 to €70,536
- Taxes -€12,745
down €12,745 (-45.1%), from €28,273 to €15,528
- Depreciation +€1,385
up €1,385 (+26.0%), from €5,321 to €6,705
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 | €1,854,232 | €3,935,549 | +€2.1m | +112.2% |
| Fixed assets | 21/28 | €1,716,617 | €3,645,835 | +€1.9m | +112.4% |
| Tangible fixed assets | 22/27 | €14,689 | €9,835 | -€4,854 | -33.0% |
| Plant, machinery and equipment | 23 | €7,890 | €4,391 | -€3,499 | -44.3% |
| Furniture and vehicles | 24 | €6,799 | €5,444 | -€1,355 | -19.9% |
| Financial fixed assets | 28 | €1,701,928 | €3,636,000 | +€1.9m | +113.6% |
| Current assets | 29/58 | €137,615 | €289,714 | +€152,098 | +110.5% |
| Amounts receivable within one year | 40/41 | €30,220 | €78,958 | +€48,738 | +161.3% |
| Trade receivables | 40 | €20,599 | - | -€20,599 | |
| Other amounts receivable | 41 | €9,621 | €78,958 | +€69,338 | +720.7% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €105,647 | €134,007 | +€28,360 | +26.8% |
| Deferred charges and accrued income | 490/1 | €1,748 | €1,748 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,854,232 | €3,935,549 | +€2.1m | +112.2% |
| Equity | 10/15 | €1,728,443 | €3,184,299 | +€1.5m | +84.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,934,072 | +€1.9m | |
| Reserves | 13 | €1,708,860 | €1,231,610 | -€477,250 | -27.9% |
| Distributable reserves | 133 | €1,708,860 | €1,231,610 | -€477,250 | -27.9% |
| Profit (loss) carried forward | 14 | €983 | €17 | -€966 | -98.3% |
| Amounts payable | 17/49 | €125,789 | €751,250 | +€625,461 | +497.2% |
| Amounts payable within one year | 42/48 | €125,789 | €750,728 | +€624,939 | +496.8% |
| Current portion of amounts payable after more than one year | 42 | €25,348 | - | -€25,348 | |
| Trade debts | 44 | - | €312 | +€312 | |
| Suppliers | 440/4 | - | €312 | +€312 | |
| Taxes, remuneration and social security | 45 | - | €45,000 | +€45,000 | |
| Taxes | 450/3 | - | €45,000 | +€45,000 | |
| Other amounts payable | 47/48 | €100,441 | €705,417 | +€604,976 | +602.3% |
| Accrued charges and deferred income | 492/3 | - | €522 | +€522 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,321 | €6,705 | +€1,385 | +26.0% |
| Other operating charges | 640/8 | €1,171 | €1,206 | +€36 | +3.0% |
| Gross operating margin | 9900 | €120,669 | €70,536 | -€50,133 | -41.5% |
| Operating profit (loss) | 9901 | €114,178 | €62,625 | -€51,554 | -45.2% |
| Financial income | 75/76B | €85,815 | €225,540 | +€139,725 | +162.8% |
| Recurring financial income | 75 | €85,815 | €225,540 | +€139,725 | +162.8% |
| Financial charges | 65/66B | €878 | €853 | -€24 | -2.8% |
| Recurring financial charges | 65 | €878 | €853 | -€24 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €199,116 | €287,312 | +€88,196 | +44.3% |
| Income taxes | 67/77 | €28,273 | €15,528 | -€12,745 | -45.1% |
| Profit (loss) for the period | 9904 | €170,843 | €271,784 | +€100,941 | +59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €170,843 | €271,784 | +€100,941 | +59.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.