CAS LAW: 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.
CAS LAW
Largest movements
- Cash -€84,168
down €84,168 (-71.5%), from €117,657 to €33,489
mainly Net result for the year (-€60,105) and Receivables within one year (-€56,208)
- Receivables within one year +€56,208
new in 2025: €56,208
of which Trade receivables: +€31,122
- Tangible fixed assets -€6,497
down €6,497 (-42.9%), from €15,159 to €8,662
- Profit (loss) carried forward -€60,105
down €60,105 (-633.0%), from -€9,496 to -€69,601
- Advances received +€30,340
new in 2025: €30,340
- Other debts -€6,449
down €6,449 (-96.9%), from €6,654 to €206
- Trade debts +€4,850
up €4,850 (+219.4%), from €2,210 to €7,060
- Tax, wage and social debts -€3,574
down €3,574 (-23.7%), from €15,061 to €11,487
- Gross operating margin -€51,502
down €51,502 (-3303.2%), from -€1,559 to -€53,061
- Other operating charges -€2,563
down €2,563 (-78.7%), from €3,258 to €695
- Depreciation +€2,166
up €2,166 (+50.0%), from €4,331 to €6,497
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 | €133,415 | €98,476 | -€34,938 | -26.2% |
| Fixed assets | 21/28 | €15,159 | €8,662 | -€6,497 | -42.9% |
| Tangible fixed assets | 22/27 | €15,159 | €8,662 | -€6,497 | -42.9% |
| Furniture and vehicles | 24 | €15,159 | €8,662 | -€6,497 | -42.9% |
| Current assets | 29/58 | €118,256 | €89,814 | -€28,442 | -24.1% |
| Amounts receivable within one year | 40/41 | - | €56,208 | +€56,208 | |
| Trade receivables | 40 | - | €31,122 | +€31,122 | |
| Other amounts receivable | 41 | - | €25,087 | +€25,087 | |
| Cash at bank and in hand | 54/58 | €117,657 | €33,489 | -€84,168 | -71.5% |
| Deferred charges and accrued income | 490/1 | €599 | €117 | -€482 | -80.5% |
| Total equity and liabilities | 10/49 | €133,415 | €98,476 | -€34,938 | -26.2% |
| Equity | 10/15 | €109,490 | €49,385 | -€60,105 | -54.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €113,986 | €113,986 | = | 0.0% |
| Distributable reserves | 133 | €113,986 | €113,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,496 | -€69,601 | -€60,105 | -633.0% |
| Amounts payable | 17/49 | €23,925 | €49,092 | +€25,167 | +105.2% |
| Amounts payable within one year | 42/48 | €23,925 | €49,092 | +€25,167 | +105.2% |
| Trade debts | 44 | €2,210 | €7,060 | +€4,850 | +219.4% |
| Suppliers | 440/4 | €2,210 | €7,060 | +€4,850 | +219.4% |
| Advances received on contracts in progress | 46 | - | €30,340 | +€30,340 | |
| Taxes, remuneration and social security | 45 | €15,061 | €11,487 | -€3,574 | -23.7% |
| Taxes | 450/3 | €15,061 | €11,487 | -€3,574 | -23.7% |
| Other amounts payable | 47/48 | €6,654 | €206 | -€6,449 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,331 | €6,497 | +€2,166 | +50.0% |
| Other operating charges | 640/8 | €3,258 | €695 | -€2,563 | -78.7% |
| Gross operating margin | 9900 | -€1,559 | -€53,061 | -€51,502 | -3303.2% |
| Operating profit (loss) | 9901 | -€9,148 | -€60,252 | -€51,104 | -558.6% |
| Financial income | 75/76B | - | €504 | +€504 | |
| Recurring financial income | 75 | - | €504 | +€504 | |
| Financial charges | 65/66B | €259 | €212 | -€47 | -18.2% |
| Recurring financial charges | 65 | €259 | €212 | -€47 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,407 | -€59,961 | -€50,553 | -537.4% |
| Income taxes | 67/77 | €89 | €145 | +€56 | +63.2% |
| Profit (loss) for the period | 9904 | -€9,496 | -€60,105 | -€50,609 | -533.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,496 | -€60,105 | -€50,609 | -533.0% |
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 8 October 2026 via checked.be.