CAIR: 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.
CAIR
Largest movements
- Receivables after one year -€85,834
down €85,834 (-100.0%), from €85,834 to €0
- Current investments +€20,000
new in 2025: €20,000
- Tangible fixed assets +€16,711
up €16,711 (+212.8%), from €7,852 to €24,563
of which Land and buildings: +€12,739
- Cash +€4,949
up €4,949 (+3.6%), from €138,430 to €143,379
mainly Net result for the year (+€160,526) and Receivables after one year (+€85,834)
- Receivables within one year -€4,694
down €4,694 (-100.0%), from €4,694 to €0
- Other debts -€97,949
down €97,949 (-45.9%), from €213,534 to €115,585
- Profit (loss) carried forward +€45,526
up €45,526 (+19643.8%), from €232 to €45,758
- Trade debts +€3,041
up €3,041 (+429.6%), from €708 to €3,749
- Gross operating margin -€66,977
down €66,977 (-21.8%), from €307,775 to €240,798
- Taxes -€16,202
down €16,202 (-24.2%), from €66,886 to €50,684
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 | €236,977 | €188,108 | -€48,869 | -20.6% |
| Fixed assets | 21/28 | €7,852 | €24,563 | +€16,711 | +212.8% |
| Tangible fixed assets | 22/27 | €7,852 | €24,563 | +€16,711 | +212.8% |
| Land and buildings | 22 | €1,205 | €13,944 | +€12,739 | +1057.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €6,647 | €6,319 | -€328 | -4.9% |
| Other tangible fixed assets | 26 | - | €4,300 | +€4,300 | |
| Current assets | 29/58 | €229,125 | €163,545 | -€65,580 | -28.6% |
| Amounts receivable after more than one year | 29 | €85,834 | €0 | -€85,834 | -100.0% |
| Other amounts receivable | 291 | €85,834 | €0 | -€85,834 | -100.0% |
| Amounts receivable within one year | 40/41 | €4,694 | €0 | -€4,694 | -100.0% |
| Other amounts receivable | 41 | €4,694 | €0 | -€4,694 | -100.0% |
| Current investments | 50/53 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €138,430 | €143,379 | +€4,949 | +3.6% |
| Deferred charges and accrued income | 490/1 | €166 | €166 | = | 0.0% |
| Total equity and liabilities | 10/49 | €236,977 | €188,108 | -€48,869 | -20.6% |
| Equity | 10/15 | €20,692 | €66,218 | +€45,526 | +220.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232 | €45,758 | +€45,526 | +19643.8% |
| Amounts payable | 17/49 | €216,285 | €121,890 | -€94,395 | -43.6% |
| Amounts payable within one year | 42/48 | €216,285 | €121,890 | -€94,395 | -43.6% |
| Trade debts | 44 | €708 | €3,749 | +€3,041 | +429.6% |
| Suppliers | 440/4 | €708 | €3,749 | +€3,041 | +429.6% |
| Taxes, remuneration and social security | 45 | €2,044 | €2,556 | +€512 | +25.1% |
| Taxes | 450/3 | €0 | €458 | +€458 | |
| Remuneration and social security | 454/9 | €2,044 | €2,098 | +€55 | +2.7% |
| Other amounts payable | 47/48 | €213,534 | €115,585 | -€97,949 | -45.9% |
| Non-recurring operating income | 76A | - | €5,963 | +€5,963 | |
| Remuneration, social security and pensions | 62 | €23,642 | €26,301 | +€2,659 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,516 | €3,363 | -€1,153 | -25.5% |
| Other operating charges | 640/8 | €1,126 | €1,357 | +€231 | +20.5% |
| Gross operating margin | 9900 | €307,775 | €240,798 | -€66,977 | -21.8% |
| Operating profit (loss) | 9901 | €278,492 | €209,777 | -€68,715 | -24.7% |
| Financial income | 75/76B | €1,339 | €1,626 | +€288 | +21.5% |
| Recurring financial income | 75 | €1,339 | €1,626 | +€288 | +21.5% |
| Financial charges | 65/66B | €192 | €193 | +€0 | +0.2% |
| Recurring financial charges | 65 | €192 | €193 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €279,638 | €211,210 | -€68,428 | -24.5% |
| Income taxes | 67/77 | €66,886 | €50,684 | -€16,202 | -24.2% |
| Profit (loss) for the period | 9904 | €212,752 | €160,526 | -€52,226 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €212,752 | €160,526 | -€52,226 | -24.5% |
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 1 October 2026 via checked.be.