CAFRA: 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.
CAFRA
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Financial charges -€33,865
down €33,865 (-16.2%), from €209,443 to €175,578
- Gross operating margin +€142
up €142 (+5.8%), from -€2,438 to -€2,296
- Other operating charges +€35
up €35 (+3.1%), from €1,108 to €1,143
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,671,038 | €21,669,744 | -€1,294 | 0.0% |
| Fixed assets | 21/28 | €21,668,705 | €21,668,705 | = | 0.0% |
| Financial fixed assets | 28 | €21,668,705 | €21,668,705 | = | 0.0% |
| Current assets | 29/58 | €2,333 | €1,039 | -€1,294 | -55.5% |
| Cash at bank and in hand | 54/58 | €2,333 | €1,039 | -€1,294 | -55.5% |
| Total equity and liabilities | 10/49 | €21,671,038 | €21,669,744 | -€1,294 | 0.0% |
| Equity | 10/15 | €18,181,848 | €18,002,831 | -€179,017 | -1.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Revaluation surpluses | 12 | €679,063 | €679,063 | = | 0.0% |
| Reserves | 13 | €12,599,236 | €12,599,236 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €12,579,236 | €12,579,236 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,703,548 | €4,524,531 | -€179,017 | -3.8% |
| Amounts payable | 17/49 | €3,489,190 | €3,666,913 | +€177,723 | +5.1% |
| Amounts payable after more than one year | 17 | €3,195,819 | €3,195,819 | = | 0.0% |
| Financial debts | 170/4 | €3,195,819 | €3,195,819 | = | 0.0% |
| Amounts payable within one year | 42/48 | €293,370 | €471,094 | +€177,723 | +60.6% |
| Trade debts | 44 | - | €2,190 | +€2,190 | |
| Suppliers | 440/4 | - | €2,190 | +€2,190 | |
| Other amounts payable | 47/48 | €293,370 | €468,904 | +€175,533 | +59.8% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | -€2,438 | -€2,296 | +€142 | +5.8% |
| Operating profit (loss) | 9901 | -€3,546 | -€3,439 | +€108 | +3.0% |
| Financial charges | 65/66B | €209,443 | €175,578 | -€33,865 | -16.2% |
| Recurring financial charges | 65 | €209,443 | €175,578 | -€33,865 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€212,990 | -€179,017 | +€33,973 | +16.0% |
| Profit (loss) for the period | 9904 | -€212,990 | -€179,017 | +€33,973 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€212,990 | -€179,017 | +€33,973 | +16.0% |
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 5 October 2026 via checked.be.