CAGIC: 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.
CAGIC
Largest movements
- Tangible fixed assets +€43,398
up €43,398 (+56.3%), from €77,113 to €120,511
of which Furniture and vehicles: +€47,938
- Receivables within one year -€24,918
down €24,918 (-73.9%), from €33,711 to €8,793
of which Trade receivables: -€16,322
- Cash +€2,540
up €2,540 (+14.5%), from €17,553 to €20,093
mainly Receivables within one year (+€24,918) and Debts after one year (+€24,638)
- Debts after one year +€24,638
new in 2025: €24,638
- Tax, wage and social debts -€7,902
down €7,902 (-61.4%), from €12,869 to €4,967
- Reserves +€3,462
up €3,462 (+4.4%), from €79,004 to €82,466
of which Distributable reserves: +€3,462
- Current portion of long-term debt +€2,507
up €2,507 (+66.1%), from €3,793 to €6,300
- Trade debts -€1,685
down €1,685 (-63.7%), from €2,643 to €959
- Depreciation +€5,268
up €5,268 (+113.1%), from €4,656 to €9,925
- Taxes -€2,259
down €2,259 (-64.4%), from €3,509 to €1,249
- Gross operating margin -€2,016
down €2,016 (-10.5%), from €19,194 to €17,178
- Financial income -€474
down €474 (-53.4%), from €889 to €414
- Other operating charges +€448
up €448 (+25.7%), from €1,743 to €2,192
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 | €130,717 | €151,738 | +€21,021 | +16.1% |
| Fixed assets | 21/28 | €78,653 | €122,051 | +€43,398 | +55.2% |
| Tangible fixed assets | 22/27 | €77,113 | €120,511 | +€43,398 | +56.3% |
| Land and buildings | 22 | €73,333 | €70,667 | -€2,667 | -3.6% |
| Plant, machinery and equipment | 23 | €3,478 | €1,605 | -€1,873 | -53.8% |
| Furniture and vehicles | 24 | €301 | €48,239 | +€47,938 | +15901.3% |
| Financial fixed assets | 28 | €1,541 | €1,541 | = | 0.0% |
| Current assets | 29/58 | €52,064 | €29,687 | -€22,377 | -43.0% |
| Amounts receivable within one year | 40/41 | €33,711 | €8,793 | -€24,918 | -73.9% |
| Trade receivables | 40 | €20,980 | €4,659 | -€16,322 | -77.8% |
| Other amounts receivable | 41 | €12,731 | €4,135 | -€8,596 | -67.5% |
| Cash at bank and in hand | 54/58 | €17,553 | €20,093 | +€2,540 | +14.5% |
| Deferred charges and accrued income | 490/1 | €800 | €800 | = | 0.0% |
| Total equity and liabilities | 10/49 | €130,717 | €151,738 | +€21,021 | +16.1% |
| Equity | 10/15 | €91,412 | €94,874 | +€3,462 | +3.8% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €79,004 | €82,466 | +€3,462 | +4.4% |
| Tax-exempt reserves | 132 | €5,600 | €5,600 | = | 0.0% |
| Distributable reserves | 133 | €73,404 | €76,867 | +€3,462 | +4.7% |
| Amounts payable | 17/49 | €39,305 | €56,863 | +€17,559 | +44.7% |
| Amounts payable after more than one year | 17 | - | €24,638 | +€24,638 | |
| Financial debts | 170/4 | - | €24,638 | +€24,638 | |
| Amounts payable within one year | 42/48 | €39,305 | €32,226 | -€7,079 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €3,793 | €6,300 | +€2,507 | +66.1% |
| Trade debts | 44 | €2,643 | €959 | -€1,685 | -63.7% |
| Suppliers | 440/4 | €2,643 | €959 | -€1,685 | -63.7% |
| Taxes, remuneration and social security | 45 | €12,869 | €4,967 | -€7,902 | -61.4% |
| Taxes | 450/3 | €12,869 | €4,967 | -€7,902 | -61.4% |
| Other amounts payable | 47/48 | €20,000 | €20,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,656 | €9,925 | +€5,268 | +113.1% |
| Other operating charges | 640/8 | €1,743 | €2,192 | +€448 | +25.7% |
| Gross operating margin | 9900 | €19,194 | €17,178 | -€2,016 | -10.5% |
| Operating profit (loss) | 9901 | €12,795 | €5,062 | -€7,733 | -60.4% |
| Financial income | 75/76B | €889 | €414 | -€474 | -53.4% |
| Recurring financial income | 75 | €889 | €414 | -€474 | -53.4% |
| Financial charges | 65/66B | €580 | €764 | +€184 | +31.7% |
| Recurring financial charges | 65 | €580 | €764 | +€184 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €13,103 | €4,712 | -€8,391 | -64.0% |
| Income taxes | 67/77 | €3,509 | €1,249 | -€2,259 | -64.4% |
| Profit (loss) for the period | 9904 | €9,594 | €3,462 | -€6,132 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,594 | €3,462 | -€6,132 | -63.9% |
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 29 September 2026 via checked.be.