CAJEM: 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.
CAJEM
Largest movements
- Tangible fixed assets -€49,663
down €49,663 (-6.9%), from €716,130 to €666,466
of which Land and buildings: -€49,738
- Cash +€8,351
up €8,351 (+87.3%), from €9,565 to €17,916
mainly Depreciation (+€62,008) and Current portion of long-term debt (+€54,688)
- Debts after one year -€94,628
down €94,628 (-17.2%), from €550,496 to €455,868
- Current portion of long-term debt +€54,688
up €54,688 (+1029.4%), from €5,312 to €60,000
- Staff costs -€4,792
down €4,792 (-100.0%), from €4,792 to €0
- Financial charges -€3,962
down €3,962 (-25.9%), from €15,274 to €11,313
- Other operating charges +€2,354
up €2,354 (+64.3%), from €3,658 to €6,012
- Gross operating margin -€1,644
down €1,644 (-2.1%), from €80,118 to €78,474
- Depreciation +€1,454
up €1,454 (+2.4%), from €60,554 to €62,008
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 | €729,723 | €685,759 | -€43,964 | -6.0% |
| Fixed assets | 21/28 | €716,130 | €666,466 | -€49,663 | -6.9% |
| Tangible fixed assets | 22/27 | €716,130 | €666,466 | -€49,663 | -6.9% |
| Land and buildings | 22 | €711,614 | €661,876 | -€49,738 | -7.0% |
| Plant, machinery and equipment | 23 | €3,718 | €4,353 | +€634 | +17.1% |
| Furniture and vehicles | 24 | €797 | €238 | -€560 | -70.2% |
| Current assets | 29/58 | €13,594 | €19,293 | +€5,700 | +41.9% |
| Amounts receivable within one year | 40/41 | €2,697 | €0 | -€2,697 | -100.0% |
| Trade receivables | 40 | €2,697 | €0 | -€2,697 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,565 | €17,916 | +€8,351 | +87.3% |
| Deferred charges and accrued income | 490/1 | €1,332 | €1,377 | +€45 | +3.4% |
| Total equity and liabilities | 10/49 | €729,723 | €685,759 | -€43,964 | -6.0% |
| Equity | 10/15 | -€12,816 | -€13,674 | -€858 | -6.7% |
| Contributions | 10/11 | €68,349 | €68,349 | = | 0.0% |
| Reserves | 13 | €40,135 | €40,135 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,951 | €0 | -€4,951 | -100.0% |
| Reserves not available under the articles | 1311 | €4,951 | €0 | -€4,951 | -100.0% |
| Tax-exempt reserves | 132 | €35,034 | €35,034 | = | 0.0% |
| Distributable reserves | 133 | €150 | €5,101 | +€4,951 | +3292.1% |
| Profit (loss) carried forward | 14 | -€121,300 | -€122,158 | -€858 | -0.7% |
| Amounts payable | 17/49 | €742,539 | €699,434 | -€43,106 | -5.8% |
| Amounts payable after more than one year | 17 | €550,496 | €455,868 | -€94,628 | -17.2% |
| Financial debts | 170/4 | €550,496 | €455,868 | -€94,628 | -17.2% |
| Amounts payable within one year | 42/48 | €192,043 | €243,566 | +€51,523 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €5,312 | €60,000 | +€54,688 | +1029.4% |
| Trade debts | 44 | €6,076 | €5,032 | -€1,045 | -17.2% |
| Suppliers | 440/4 | €6,076 | €5,032 | -€1,045 | -17.2% |
| Taxes, remuneration and social security | 45 | €1,920 | €1,888 | -€33 | -1.7% |
| Taxes | 450/3 | €1,920 | €1,888 | -€33 | -1.7% |
| Other amounts payable | 47/48 | €178,734 | €176,646 | -€2,088 | -1.2% |
| Remuneration, social security and pensions | 62 | €4,792 | €0 | -€4,792 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,554 | €62,008 | +€1,454 | +2.4% |
| Other operating charges | 640/8 | €3,658 | €6,012 | +€2,354 | +64.3% |
| Gross operating margin | 9900 | €80,118 | €78,474 | -€1,644 | -2.1% |
| Operating profit (loss) | 9901 | €11,115 | €10,455 | -€660 | -5.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €15,274 | €11,313 | -€3,962 | -25.9% |
| Recurring financial charges | 65 | €15,274 | €11,313 | -€3,962 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,160 | -€858 | +€3,302 | +79.4% |
| Profit (loss) for the period | 9904 | -€4,160 | -€858 | +€3,302 | +79.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,160 | -€858 | +€3,302 | +79.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.