CAICO: 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.
CAICO
Largest movements
- Cash -€25,614
down €25,614 (-17.0%), from €151,056 to €125,442
mainly Net result for the year (-€17,283) and Other debts (-€9,090)
- Tangible fixed assets -€12,682
down €12,682 (-45.0%), from €28,212 to €15,530
of which Other tangible fixed assets: -€7,297
- Receivables within one year -€2,536
down €2,536 (-7.0%), from €36,442 to €33,906
of which Trade receivables: -€4,431
- Reserves -€17,283
down €17,283 (-10.5%), from €165,159 to €147,875
- Other debts -€9,090
no longer reported in 2025 (was €9,090)
- Trade debts -€8,481
down €8,481 (-71.0%), from €11,938 to €3,457
- Accrued charges and deferred income -€5,272
down €5,272 (-90.7%), from €5,813 to €541
- Gross operating margin +€38,170
up €38,170 (+90.7%), from -€42,076 to -€3,905
- Financial income +€552
up €552 (+213.0%), from €259 to €811
- Depreciation +€509
up €509 (+4.2%), from €12,173 to €12,682
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 | €217,638 | €176,931 | -€40,707 | -18.7% |
| Fixed assets | 21/28 | €28,212 | €15,530 | -€12,682 | -45.0% |
| Tangible fixed assets | 22/27 | €28,212 | €15,530 | -€12,682 | -45.0% |
| Furniture and vehicles | 24 | €7,380 | €1,995 | -€5,385 | -73.0% |
| Other tangible fixed assets | 26 | €20,832 | €13,535 | -€7,297 | -35.0% |
| Current assets | 29/58 | €189,426 | €161,401 | -€28,025 | -14.8% |
| Amounts receivable within one year | 40/41 | €36,442 | €33,906 | -€2,536 | -7.0% |
| Trade receivables | 40 | €16,694 | €12,263 | -€4,431 | -26.5% |
| Other amounts receivable | 41 | €19,748 | €21,643 | +€1,895 | +9.6% |
| Cash at bank and in hand | 54/58 | €151,056 | €125,442 | -€25,614 | -17.0% |
| Deferred charges and accrued income | 490/1 | €1,928 | €2,053 | +€125 | +6.5% |
| Total equity and liabilities | 10/49 | €217,638 | €176,931 | -€40,707 | -18.7% |
| Equity | 10/15 | €183,759 | €166,475 | -€17,283 | -9.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €165,159 | €147,875 | -€17,283 | -10.5% |
| Distributable reserves | 133 | €165,159 | €147,875 | -€17,283 | -10.5% |
| Amounts payable | 17/49 | €33,879 | €10,456 | -€23,424 | -69.1% |
| Amounts payable within one year | 42/48 | €28,067 | €9,915 | -€18,152 | -64.7% |
| Trade debts | 44 | €11,938 | €3,457 | -€8,481 | -71.0% |
| Suppliers | 440/4 | €11,938 | €3,457 | -€8,481 | -71.0% |
| Taxes, remuneration and social security | 45 | €7,039 | €6,459 | -€581 | -8.2% |
| Taxes | 450/3 | €7,039 | €6,455 | -€584 | -8.3% |
| Remuneration and social security | 454/9 | - | €3 | +€3 | |
| Other amounts payable | 47/48 | €9,090 | - | -€9,090 | |
| Accrued charges and deferred income | 492/3 | €5,813 | €541 | -€5,272 | -90.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,173 | €12,682 | +€509 | +4.2% |
| Other operating charges | 640/8 | €1,184 | €1,197 | +€12 | +1.0% |
| Gross operating margin | 9900 | -€42,076 | -€3,905 | +€38,170 | +90.7% |
| Operating profit (loss) | 9901 | -€55,433 | -€17,784 | +€37,649 | +67.9% |
| Financial income | 75/76B | €259 | €811 | +€552 | +213.0% |
| Recurring financial income | 75 | €259 | €811 | +€552 | +213.0% |
| Financial charges | 65/66B | €144 | €278 | +€133 | +92.2% |
| Recurring financial charges | 65 | €144 | €278 | +€133 | +92.2% |
| Profit (loss) for the period before taxes | 9903 | -€55,318 | -€17,251 | +€38,068 | +68.8% |
| Income taxes | 67/77 | -€67 | €33 | +€100 | |
| Profit (loss) for the period | 9904 | -€55,251 | -€17,283 | +€37,968 | +68.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,251 | -€17,283 | +€37,968 | +68.7% |
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.