CAJA: 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.
CAJA
Largest movements
- Tangible fixed assets -€42,413
down €42,413 (-19.3%), from €219,922 to €177,510
of which Plant, machinery and equipment: -€29,754
- Stocks and contracts +€11,741
up €11,741 (+10.6%), from €111,037 to €122,778
- Receivables within one year -€8,843
down €8,843 (-26.2%), from €33,750 to €24,907
of which Other amounts receivable: -€9,476
- Cash -€8,456
down €8,456 (-8.0%), from €105,286 to €96,830
mainly Debts after one year (-€36,789) and Trade debts (-€18,736)
- Debts after one year -€36,789
down €36,789 (-22.5%), from €163,545 to €126,755
- Trade debts -€18,736
down €18,736 (-22.7%), from €82,656 to €63,920
- Short-term financial debts -€15,000
down €15,000 (-100.0%), from €15,000 to €0
of which Credit institutions: -€15,000
- Tax, wage and social debts +€11,251
up €11,251 (+40.4%), from €27,846 to €39,097
of which Remuneration and social security: +€10,327
- Profit (loss) carried forward +€10,591
up €10,591 (+8.7%), from -€121,071 to -€110,480
- Gross operating margin +€19,295
up €19,295 (+8.2%), from €234,377 to €253,672
- Staff costs -€6,576
down €6,576 (-3.6%), from €183,610 to €177,034
- Financial income -€3,296
down €3,296 (-80.0%), from €4,120 to €824
- Depreciation +€2,681
up €2,681 (+6.3%), from €42,644 to €45,325
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 | €485,627 | €437,587 | -€48,040 | -9.9% |
| Fixed assets | 21/28 | €221,921 | €179,508 | -€42,413 | -19.1% |
| Tangible fixed assets | 22/27 | €219,922 | €177,510 | -€42,413 | -19.3% |
| Land and buildings | 22 | €104,763 | €95,769 | -€8,994 | -8.6% |
| Plant, machinery and equipment | 23 | €103,961 | €74,208 | -€29,754 | -28.6% |
| Furniture and vehicles | 24 | €11,198 | €7,532 | -€3,665 | -32.7% |
| Financial fixed assets | 28 | €1,999 | €1,999 | = | 0.0% |
| Current assets | 29/58 | €263,706 | €258,079 | -€5,627 | -2.1% |
| Stocks and contracts in progress | 3 | €111,037 | €122,778 | +€11,741 | +10.6% |
| Stocks | 30/36 | €111,037 | €122,778 | +€11,741 | +10.6% |
| Amounts receivable within one year | 40/41 | €33,750 | €24,907 | -€8,843 | -26.2% |
| Trade receivables | 40 | €13,094 | €13,727 | +€633 | +4.8% |
| Other amounts receivable | 41 | €20,656 | €11,180 | -€9,476 | -45.9% |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €105,286 | €96,830 | -€8,456 | -8.0% |
| Deferred charges and accrued income | 490/1 | €3,633 | €3,563 | -€70 | -1.9% |
| Total equity and liabilities | 10/49 | €485,627 | €437,587 | -€48,040 | -9.9% |
| Equity | 10/15 | €138,852 | €149,443 | +€10,591 | +7.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €62,000 | - | -€62,000 | |
| Other | 1109/19 | €62,000 | - | -€62,000 | |
| Reserves | 13 | €197,923 | €197,923 | = | 0.0% |
| Distributable reserves | 133 | €197,923 | €197,923 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,071 | -€110,480 | +€10,591 | +8.7% |
| Amounts payable | 17/49 | €346,775 | €288,144 | -€58,631 | -16.9% |
| Amounts payable after more than one year | 17 | €163,545 | €126,755 | -€36,789 | -22.5% |
| Financial debts | 170/4 | €163,545 | €126,755 | -€36,789 | -22.5% |
| Amounts payable within one year | 42/48 | €182,331 | €160,727 | -€21,604 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €36,141 | €36,789 | +€648 | +1.8% |
| Financial debts | 43 | €15,000 | €0 | -€15,000 | -100.0% |
| Credit institutions | 430/8 | €15,000 | - | -€15,000 | |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €82,656 | €63,920 | -€18,736 | -22.7% |
| Suppliers | 440/4 | €82,656 | €63,920 | -€18,736 | -22.7% |
| Taxes, remuneration and social security | 45 | €27,846 | €39,097 | +€11,251 | +40.4% |
| Taxes | 450/3 | €215 | €1,139 | +€924 | +429.4% |
| Remuneration and social security | 454/9 | €27,630 | €37,957 | +€10,327 | +37.4% |
| Other amounts payable | 47/48 | €20,688 | €20,921 | +€232 | +1.1% |
| Accrued charges and deferred income | 492/3 | €899 | €661 | -€238 | -26.5% |
| Remuneration, social security and pensions | 62 | €183,610 | €177,034 | -€6,576 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,644 | €45,325 | +€2,681 | +6.3% |
| Other operating charges | 640/8 | €6,901 | €6,291 | -€610 | -8.8% |
| Non-recurring operating charges | 66A | €703 | €0 | -€703 | -100.0% |
| Gross operating margin | 9900 | €234,377 | €253,672 | +€19,295 | +8.2% |
| Operating profit (loss) | 9901 | €520 | €25,021 | +€24,502 | +4714.0% |
| Financial income | 75/76B | €4,120 | €824 | -€3,296 | -80.0% |
| Recurring financial income | 75 | €4,120 | €824 | -€3,296 | -80.0% |
| Financial charges | 65/66B | €12,812 | €15,254 | +€2,443 | +19.1% |
| Recurring financial charges | 65 | €12,812 | €15,254 | +€2,443 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,172 | €10,591 | +€18,763 | |
| Profit (loss) for the period | 9904 | -€8,172 | €10,591 | +€18,763 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,172 | €10,591 | +€18,763 |
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 9 October 2026 via checked.be.