CAGO: 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.
CAGO
Largest movements
- Receivables within one year +€351,461
up €351,461 (+21.1%), from €1.7m to €2.0m
of which Other amounts receivable: +€375,056
- Reserves +€632,684
up €632,684 (+32.6%), from €1.9m to €2.6m
of which Distributable reserves: +€632,684
- Other debts -€294,280
down €294,280 (-25.5%), from €1.2m to €861,016
- Financial income -€124,585
down €124,585 (-15.6%), from €799,941 to €675,356
- Financial charges -€13,510
down €13,510 (-15.5%), from €87,165 to €73,654
- Taxes -€6,859
down €6,859 (-7.2%), from €95,876 to €89,016
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 | €4,871,473 | €5,189,292 | +€317,819 | +6.5% |
| Fixed assets | 21/28 | €3,164,647 | €3,164,647 | = | 0.0% |
| Financial fixed assets | 28 | €3,164,647 | €3,164,647 | = | 0.0% |
| Current assets | 29/58 | €1,706,826 | €2,024,646 | +€317,819 | +18.6% |
| Amounts receivable within one year | 40/41 | €1,663,797 | €2,015,257 | +€351,461 | +21.1% |
| Trade receivables | 40 | €47,190 | €23,595 | -€23,595 | -50.0% |
| Other amounts receivable | 41 | €1,616,607 | €1,991,662 | +€375,056 | +23.2% |
| Cash at bank and in hand | 54/58 | €41,977 | €8,244 | -€33,733 | -80.4% |
| Deferred charges and accrued income | 490/1 | €1,052 | €1,144 | +€92 | +8.7% |
| Total equity and liabilities | 10/49 | €4,871,473 | €5,189,292 | +€317,819 | +6.5% |
| Equity | 10/15 | €3,533,674 | €4,165,624 | +€631,950 | +17.9% |
| Contributions | 10/11 | €1,593,600 | €1,593,600 | = | 0.0% |
| Reserves | 13 | €1,939,340 | €2,572,024 | +€632,684 | +32.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,939,340 | €2,572,024 | +€632,684 | +32.6% |
| Profit (loss) carried forward | 14 | €734 | €0 | -€734 | -100.0% |
| Amounts payable | 17/49 | €1,337,799 | €1,023,668 | -€314,131 | -23.5% |
| Amounts payable within one year | 42/48 | €1,251,004 | €949,911 | -€301,093 | -24.1% |
| Trade debts | 44 | €1,947 | €112 | -€1,835 | -94.3% |
| Suppliers | 440/4 | €1,947 | €112 | -€1,835 | -94.3% |
| Taxes, remuneration and social security | 45 | €93,761 | €88,783 | -€4,978 | -5.3% |
| Taxes | 450/3 | €83,950 | €76,126 | -€7,824 | -9.3% |
| Remuneration and social security | 454/9 | €9,811 | €12,657 | +€2,846 | +29.0% |
| Other amounts payable | 47/48 | €1,155,296 | €861,016 | -€294,280 | -25.5% |
| Accrued charges and deferred income | 492/3 | €86,795 | €73,757 | -€13,038 | -15.0% |
| Remuneration, social security and pensions | 62 | €65,035 | €66,125 | +€1,091 | +1.7% |
| Other operating charges | 640/8 | €2,054 | €2,119 | +€66 | +3.2% |
| Gross operating margin | 9900 | €189,364 | €187,510 | -€1,854 | -1.0% |
| Operating profit (loss) | 9901 | €122,275 | €119,265 | -€3,010 | -2.5% |
| Financial income | 75/76B | €799,941 | €675,356 | -€124,585 | -15.6% |
| Recurring financial income | 75 | €799,941 | €675,356 | -€124,585 | -15.6% |
| Financial charges | 65/66B | €87,165 | €73,654 | -€13,510 | -15.5% |
| Recurring financial charges | 65 | €87,165 | €73,654 | -€13,510 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €835,052 | €720,967 | -€114,085 | -13.7% |
| Income taxes | 67/77 | €95,876 | €89,016 | -€6,859 | -7.2% |
| Profit (loss) for the period | 9904 | €739,176 | €631,950 | -€107,226 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €739,176 | €631,950 | -€107,226 | -14.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.