Cageo: 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.
Cageo
Largest movements
- Tangible fixed assets -€26,500
down €26,500 (-1.7%), from €1.6m to €1.5m
of which Land and buildings: -€71,556
- Debts after one year -€97,307
down €97,307 (-8.8%), from €1.1m to €1.0m
of which Financial debts: -€126,395
- Reserves +€45,520
up €45,520 (+44.1%), from €103,300 to €148,821
of which Distributable reserves: +€45,520
- Other debts +€23,581
new in 2025: €23,581
- Gross operating margin -€25,489
down €25,489 (-9.1%), from €280,962 to €255,473
- Staff costs -€12,297
down €12,297 (-21.9%), from €56,183 to €43,886
- Financial charges -€9,931
down €9,931 (-30.5%), from €32,581 to €22,650
- Other operating charges +€4,601
up €4,601 (+21.2%), from €21,701 to €26,302
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.
Derived cash bridge
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 | €1,560,175 | €1,544,567 | -€15,608 | -1.0% |
| Fixed assets | 21/28 | €1,559,895 | €1,533,395 | -€26,500 | -1.7% |
| Tangible fixed assets | 22/27 | €1,559,895 | €1,533,395 | -€26,500 | -1.7% |
| Land and buildings | 22 | €1,559,093 | €1,487,537 | -€71,556 | -4.6% |
| Plant, machinery and equipment | 23 | €802 | €0 | -€802 | -100.0% |
| Furniture and vehicles | 24 | - | €45,858 | +€45,858 | |
| Current assets | 29/58 | €280 | €11,172 | +€10,892 | +3,890% |
| Amounts receivable within one year | 40/41 | €280 | €6,811 | +€6,531 | +2,333% |
| Trade receivables | 40 | - | €6,811 | +€6,811 | |
| Other amounts receivable | 41 | €280 | - | -€280 | |
| Cash at bank and in hand | 54/58 | - | €4,360 | +€4,360 | |
| Total equity and liabilities | 10/49 | €1,560,175 | €1,544,567 | -€15,608 | -1.0% |
| Equity | 10/15 | €204,057 | €249,577 | +€45,520 | +22.3% |
| Contributions | 10/11 | €54,000 | €54,000 | = | 0.0% |
| Reserves | 13 | €103,300 | €148,821 | +€45,520 | +44.1% |
| Non-distributable reserves | 130/1 | €1,600 | €1,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,600 | €1,600 | = | 0.0% |
| Distributable reserves | 133 | €101,700 | €147,221 | +€45,520 | +44.8% |
| Profit (loss) carried forward | 14 | €46,757 | €46,757 | = | 0.0% |
| Amounts payable | 17/49 | €1,356,118 | €1,294,990 | -€61,129 | -4.5% |
| Amounts payable after more than one year | 17 | €1,110,374 | €1,013,068 | -€97,307 | -8.8% |
| Financial debts | 170/4 | €358,098 | €231,703 | -€126,395 | -35.3% |
| Other amounts payable | 178/9 | €752,276 | €781,365 | +€29,088 | +3.9% |
| Amounts payable within one year | 42/48 | €245,682 | €281,860 | +€36,178 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €152,390 | €166,856 | +€14,466 | +9.5% |
| Financial debts | 43 | €47,753 | €37,865 | -€9,889 | -20.7% |
| Credit institutions | 430/8 | €47,753 | €37,865 | -€9,889 | -20.7% |
| Trade debts | 44 | €5,572 | €19,770 | +€14,198 | +255% |
| Suppliers | 440/4 | €5,572 | €19,770 | +€14,198 | +255% |
| Taxes, remuneration and social security | 45 | €39,967 | €33,788 | -€6,178 | -15.5% |
| Taxes | 450/3 | €26,869 | €31,588 | +€4,720 | +17.6% |
| Remuneration and social security | 454/9 | €13,098 | €2,200 | -€10,898 | -83.2% |
| Other amounts payable | 47/48 | - | €23,581 | +€23,581 | |
| Accrued charges and deferred income | 492/3 | €62 | €62 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €56,183 | €43,886 | -€12,297 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,358 | €73,940 | +€1,581 | +2.2% |
| Other operating charges | 640/8 | €21,701 | €26,302 | +€4,601 | +21.2% |
| Gross operating margin | 9900 | €280,962 | €255,473 | -€25,489 | -9.1% |
| Operating profit (loss) | 9901 | €130,719 | €111,346 | -€19,374 | -14.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €32,581 | €22,650 | -€9,931 | -30.5% |
| Recurring financial charges | 65 | €32,581 | €22,650 | -€9,931 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €98,139 | €88,696 | -€9,443 | -9.6% |
| Income taxes | 67/77 | €27,414 | €25,141 | -€2,272 | -8.3% |
| Profit (loss) for the period | 9904 | €70,725 | €63,555 | -€7,171 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,725 | €63,555 | -€7,171 | -10.1% |
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 24 October 2026 via checked.be.