CAFMEYER: 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.
CAFMEYER
Largest movements
- Receivables within one year +€222,090
up €222,090 (+102.6%), from €216,526 to €438,616
of which Trade receivables: +€222,090
- Tangible fixed assets -€185,991
down €185,991 (-16.3%), from €1.1m to €956,965
of which Leasing and similar rights: -€124,205
- Stocks and contracts +€179,845
up €179,845 (+56.0%), from €321,330 to €501,175
- Cash -€73,710
down €73,710 (-45.2%), from €162,997 to €89,287
mainly Receivables within one year (-€222,090) and Stocks and contracts (-€179,845)
- Other debts +€133,578
up €133,578 (+51.0%), from €261,864 to €395,442
- Debts after one year -€119,123
down €119,123 (-27.2%), from €438,051 to €318,928
- Tax, wage and social debts +€81,570
up €81,570 (+53.1%), from €153,721 to €235,291
of which Taxes: +€63,673
- Reserves +€73,474
up €73,474 (+10.7%), from €683,485 to €756,959
of which Distributable reserves: +€73,474
- Gross operating margin +€288,851
up €288,851 (+24.6%), from €1.2m to €1.5m
- Write-downs +€168,525
new in 2025: €168,525
- Staff costs +€61,796
up €61,796 (+7.3%), from €848,918 to €910,714
- Depreciation -€22,408
down €22,408 (-7.6%), from €294,035 to €271,627
- Taxes +€15,977
up €15,977, from -€579 to €15,398
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 | €1,873,851 | €2,012,149 | +€138,298 | +7.4% |
| Fixed assets | 21/28 | €1,154,340 | €962,390 | -€191,950 | -16.6% |
| Intangible fixed assets | 21 | €11,134 | €5,175 | -€5,959 | -53.5% |
| Tangible fixed assets | 22/27 | €1,142,956 | €956,965 | -€185,991 | -16.3% |
| Land and buildings | 22 | €225,654 | €274,253 | +€48,599 | +21.5% |
| Plant, machinery and equipment | 23 | €385,967 | €312,472 | -€73,495 | -19.0% |
| Furniture and vehicles | 24 | €26,323 | €20,434 | -€5,890 | -22.4% |
| Leasing and similar rights | 25 | €474,011 | €349,806 | -€124,205 | -26.2% |
| Assets under construction and advance payments | 27 | €31,000 | €0 | -€31,000 | -100.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €719,511 | €1,049,759 | +€330,248 | +45.9% |
| Stocks and contracts in progress | 3 | €321,330 | €501,175 | +€179,845 | +56.0% |
| Stocks | 30/36 | €321,330 | €501,175 | +€179,845 | +56.0% |
| Amounts receivable within one year | 40/41 | €216,526 | €438,616 | +€222,090 | +102.6% |
| Trade receivables | 40 | €216,427 | €438,517 | +€222,090 | +102.6% |
| Other amounts receivable | 41 | €99 | €99 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €162,997 | €89,287 | -€73,710 | -45.2% |
| Deferred charges and accrued income | 490/1 | €18,658 | €20,681 | +€2,023 | +10.8% |
| Total equity and liabilities | 10/49 | €1,873,851 | €2,012,149 | +€138,298 | +7.4% |
| Equity | 10/15 | €748,485 | €821,959 | +€73,474 | +9.8% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €683,485 | €756,959 | +€73,474 | +10.7% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €658,235 | €731,709 | +€73,474 | +11.2% |
| Provisions and deferred taxes | 16 | €5,578 | €0 | -€5,578 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €5,578 | €0 | -€5,578 | -100.0% |
| Pensions and similar obligations | 160 | €5,578 | €0 | -€5,578 | -100.0% |
| Amounts payable | 17/49 | €1,119,787 | €1,190,190 | +€70,403 | +6.3% |
| Amounts payable after more than one year | 17 | €438,051 | €318,928 | -€119,123 | -27.2% |
| Financial debts | 170/4 | €438,051 | €318,928 | -€119,123 | -27.2% |
| Amounts payable within one year | 42/48 | €678,150 | €866,342 | +€188,191 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €120,154 | €119,163 | -€991 | -0.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €77,882 | €67,074 | -€10,808 | -13.9% |
| Suppliers | 440/4 | €77,882 | €67,074 | -€10,808 | -13.9% |
| Advances received on contracts in progress | 46 | €64,530 | €49,372 | -€15,158 | -23.5% |
| Taxes, remuneration and social security | 45 | €153,721 | €235,291 | +€81,570 | +53.1% |
| Taxes | 450/3 | €38,127 | €101,800 | +€63,673 | +167.0% |
| Remuneration and social security | 454/9 | €115,593 | €133,491 | +€17,898 | +15.5% |
| Other amounts payable | 47/48 | €261,864 | €395,442 | +€133,578 | +51.0% |
| Accrued charges and deferred income | 492/3 | €3,586 | €4,920 | +€1,334 | +37.2% |
| Remuneration, social security and pensions | 62 | €848,918 | €910,714 | +€61,796 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €294,035 | €271,627 | -€22,408 | -7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €168,525 | +€168,525 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€10,019 | -€5,578 | +€4,440 | +44.3% |
| Other operating charges | 640/8 | €9,907 | €10,225 | +€318 | +3.2% |
| Gross operating margin | 9900 | €1,176,579 | €1,465,429 | +€288,851 | +24.6% |
| Operating profit (loss) | 9901 | €33,737 | €109,916 | +€76,179 | +225.8% |
| Financial income | 75/76B | €216 | €532 | +€317 | +146.8% |
| Recurring financial income | 75 | €216 | €532 | +€317 | +146.8% |
| Financial charges | 65/66B | €31,250 | €21,577 | -€9,674 | -31.0% |
| Recurring financial charges | 65 | €31,250 | €21,577 | -€9,674 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €2,702 | €88,872 | +€86,170 | +3188.9% |
| Income taxes | 67/77 | -€579 | €15,398 | +€15,977 | |
| Profit (loss) for the period | 9904 | €3,282 | €73,474 | +€70,192 | +2139.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,282 | €73,474 | +€70,192 | +2139.0% |
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 4 October 2026 via checked.be.