CAIRN: 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.
CAIRN
Largest movements
- Cash +€22,591
up €22,591 (+29.5%), from €76,648 to €99,239
mainly Net result for the year (+€16,038) and Deferred charges and accrued income (+€12,909)
- Deferred charges and accrued income -€12,909
down €12,909 (-14.5%), from €88,780 to €75,871
- Profit (loss) carried forward +€16,038
up €16,038 (+4.2%), from €382,058 to €398,096
- Financial income -€51,472
down €51,472 (-96.6%), from €53,272 to €1,800
- Taxes -€21,198
down €21,198 (-79.0%), from €26,834 to €5,635
- Gross operating margin -€19,454
down €19,454 (-46.9%), from €41,475 to €22,021
- Financial charges -€2,003
down €2,003 (-53.5%), from €3,741 to €1,738
- Other operating charges -€772
down €772 (-65.9%), from €1,172 to €400
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 | €567,636 | €578,647 | +€11,010 | +1.9% |
| Fixed assets | 21/28 | €10 | - | -€10 | |
| Tangible fixed assets | 22/27 | €10 | - | -€10 | |
| Furniture and vehicles | 24 | €10 | - | -€10 | |
| Current assets | 29/58 | €567,627 | €578,647 | +€11,020 | +1.9% |
| Amounts receivable within one year | 40/41 | €1,055 | €2,593 | +€1,538 | +145.7% |
| Other amounts receivable | 41 | €1,055 | €2,593 | +€1,538 | +145.7% |
| Current investments | 50/53 | €401,143 | €400,943 | -€200 | 0.0% |
| Cash at bank and in hand | 54/58 | €76,648 | €99,239 | +€22,591 | +29.5% |
| Deferred charges and accrued income | 490/1 | €88,780 | €75,871 | -€12,909 | -14.5% |
| Total equity and liabilities | 10/49 | €567,636 | €578,647 | +€11,010 | +1.9% |
| Equity | 10/15 | €537,058 | €553,096 | +€16,038 | +3.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €55,000 | €55,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €382,058 | €398,096 | +€16,038 | +4.2% |
| Amounts payable | 17/49 | €30,578 | €25,551 | -€5,028 | -16.4% |
| Amounts payable within one year | 42/48 | €562 | €721 | +€159 | +28.3% |
| Taxes, remuneration and social security | 45 | - | €159 | +€159 | |
| Taxes | 450/3 | - | €159 | +€159 | |
| Other amounts payable | 47/48 | €562 | €562 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €30,017 | €24,830 | -€5,187 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112 | €10 | -€102 | -91.2% |
| Other operating charges | 640/8 | €1,172 | €400 | -€772 | -65.9% |
| Gross operating margin | 9900 | €41,475 | €22,021 | -€19,454 | -46.9% |
| Operating profit (loss) | 9901 | €40,191 | €21,611 | -€18,580 | -46.2% |
| Financial income | 75/76B | €53,272 | €1,800 | -€51,472 | -96.6% |
| Recurring financial income | 75 | €53,272 | €1,800 | -€51,472 | -96.6% |
| Financial charges | 65/66B | €3,741 | €1,738 | -€2,003 | -53.5% |
| Recurring financial charges | 65 | €3,741 | €1,738 | -€2,003 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | €89,722 | €21,673 | -€68,049 | -75.8% |
| Income taxes | 67/77 | €26,834 | €5,635 | -€21,198 | -79.0% |
| Profit (loss) for the period | 9904 | €62,888 | €16,038 | -€46,851 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,888 | €16,038 | -€46,851 | -74.5% |
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 5 October 2026 via checked.be.