CAIR BELGIUM: 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.
CAIR BELGIUM
Largest movements
- Receivables within one year -€175,543
down €175,543 (-23.3%), from €753,973 to €578,430
of which Trade receivables: -€140,681
- Stocks and contracts -€82,996
down €82,996 (-28.2%), from €294,630 to €211,634
- Cash +€38,518
up €38,518 (+64.8%), from €59,405 to €97,923
mainly Receivables within one year (+€175,543) and Stocks and contracts (+€82,996)
- Debts after one year -€196,760
down €196,760 (-24.4%), from €805,715 to €608,955
- Trade debts -€37,178
down €37,178 (-70.8%), from €52,476 to €15,299
- Tax, wage and social debts +€11,728
up €11,728 (+12.8%), from €91,532 to €103,261
of which Taxes: +€7,845
- Staff costs +€18,504
up €18,504 (+8.4%), from €219,764 to €238,269
- Gross operating margin +€10,944
up €10,944 (+2.1%), from €509,312 to €520,256
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 | €1,114,370 | €900,021 | -€214,349 | -19.2% |
| Fixed assets | 21/28 | €4,890 | €7,170 | +€2,280 | +46.6% |
| Tangible fixed assets | 22/27 | - | €2,280 | +€2,280 | |
| Plant, machinery and equipment | 23 | - | €2,280 | +€2,280 | |
| Financial fixed assets | 28 | €4,890 | €4,890 | = | 0.0% |
| Current assets | 29/58 | €1,109,480 | €892,851 | -€216,628 | -19.5% |
| Stocks and contracts in progress | 3 | €294,630 | €211,634 | -€82,996 | -28.2% |
| Stocks | 30/36 | €294,630 | €211,634 | -€82,996 | -28.2% |
| Amounts receivable within one year | 40/41 | €753,973 | €578,430 | -€175,543 | -23.3% |
| Trade receivables | 40 | €719,111 | €578,430 | -€140,681 | -19.6% |
| Other amounts receivable | 41 | €34,862 | €0 | -€34,862 | -100% |
| Cash at bank and in hand | 54/58 | €59,405 | €97,923 | +€38,518 | +64.8% |
| Deferred charges and accrued income | 490/1 | €1,472 | €4,865 | +€3,393 | +231% |
| Total equity and liabilities | 10/49 | €1,114,370 | €900,021 | -€214,349 | -19.2% |
| Equity | 10/15 | €146,488 | €148,348 | +€1,861 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,888 | €129,748 | +€1,861 | +1.5% |
| Amounts payable | 17/49 | €967,882 | €751,673 | -€216,209 | -22.3% |
| Amounts payable after more than one year | 17 | €805,715 | €608,955 | -€196,760 | -24.4% |
| Trade debts | 175 | €805,715 | €608,955 | -€196,760 | -24.4% |
| Amounts payable within one year | 42/48 | €144,167 | €118,718 | -€25,449 | -17.7% |
| Trade debts | 44 | €52,476 | €15,299 | -€37,178 | -70.8% |
| Suppliers | 440/4 | €52,476 | €15,299 | -€37,178 | -70.8% |
| Taxes, remuneration and social security | 45 | €91,532 | €103,261 | +€11,728 | +12.8% |
| Taxes | 450/3 | €37,938 | €45,782 | +€7,845 | +20.7% |
| Remuneration and social security | 454/9 | €53,594 | €57,478 | +€3,884 | +7.2% |
| Other amounts payable | 47/48 | €159 | €159 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €18,000 | €24,000 | +€6,000 | +33.3% |
| Remuneration, social security and pensions | 62 | €219,764 | €238,269 | +€18,504 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €25 | +€25 | |
| Other operating charges | 640/8 | €9,541 | €9,720 | +€179 | +1.9% |
| Non-recurring operating charges | 66A | €273,000 | €265,499 | -€7,501 | -2.7% |
| Gross operating margin | 9900 | €509,312 | €520,256 | +€10,944 | +2.1% |
| Operating profit (loss) | 9901 | €7,007 | €6,743 | -€264 | -3.8% |
| Financial income | 75/76B | €87 | €0 | -€87 | -100% |
| Recurring financial income | 75 | €87 | €0 | -€87 | -100% |
| Financial charges | 65/66B | €2,054 | €2,868 | +€814 | +39.6% |
| Recurring financial charges | 65 | €2,054 | €2,868 | +€814 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €5,040 | €3,875 | -€1,165 | -23.1% |
| Income taxes | 67/77 | €3,614 | €2,014 | -€1,599 | -44.3% |
| Profit (loss) for the period | 9904 | €1,426 | €1,861 | +€435 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,426 | €1,861 | +€435 | +30.5% |
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 26 October 2026 via checked.be.