CAS TUBIZE: what changed
What changed
CAS TUBIZE
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€2,086
2024 · €115,957-€118,043
Equity
€347,117
2024 · €349,202-€2,086
Cash
€5,318
2024 · €3,988+€1,330
Balance sheet total
€1.4m
2024 · €856,283+€542,085
Largest movements
Assets
- Tangible fixed assets +€943,769
up €943,769 (+210%), from €449,281 to €1.4m
of which Land and buildings: +€999,226
- Receivables after one year -€319,264
no longer reported in 2025 (was €319,264)
- Receivables within one year -€83,750
no longer reported in 2025 (was €83,750)
Equity and liabilities
- Debts after one year +€424,091
up €424,091 (+120%), from €353,286 to €777,377
of which Financial debts: +€424,091
- Other debts +€87,837
up €87,837 (+2,583%), from €3,401 to €91,238
- Current portion of long-term debt +€29,499
up €29,499 (+93.6%), from €31,506 to €61,005
Income statement
- Gross operating margin -€109,103
down €109,103 (-57.5%), from €189,670 to €80,567
- Other operating charges +€5,977
up €5,977 (+82.7%), from €7,228 to €13,205
- Depreciation +€4,007
up €4,007 (+6.4%), from €62,534 to €66,541
- Financial income +€3,369
up €3,369 (+61.0%), from €5,522 to €8,891
- Financial charges +€2,875
up €2,875 (+29.9%), from €9,630 to €12,505
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€115,957
Gross operating margin
-€109,103
Depreciation
-€4,007
Other operating charges
-€5,977
Financial income
+€3,369
Financial charges
-€2,875
Taxes
-€157
Deferred taxes and other
+€707
Result 2025
-€2,086
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€558,050
Investment
-€1.0m
Financing
+€453,590
Cash 2024
€3,988
From operations (derived)
+€558,050
Net result for the year
-€2,086
Depreciation
+€66,541
Receivables after one year
+€319,264
Receivables within one year
+€83,750
Smaller working-capital items
+€2,744
Other debts
+€87,837
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
+€453,590
Debts after one year
+€424,091
Current portion of long-term debt
+€29,499
Cash 2025
€5,318
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €856,283 | €1,398,368 | +€542,085 | +63.3% |
| Fixed assets | 21/28 | €449,281 | €1,393,050 | +€943,769 | +210% |
| Tangible fixed assets | 22/27 | €449,281 | €1,393,050 | +€943,769 | +210% |
| Land and buildings | 22 | €157,875 | €1,157,101 | +€999,226 | +633% |
| Plant, machinery and equipment | 23 | €291,406 | €235,949 | -€55,457 | -19.0% |
| Current assets | 29/58 | €407,002 | €5,318 | -€401,683 | -98.7% |
| Amounts receivable after more than one year | 29 | €319,264 | - | -€319,264 | |
| Other amounts receivable | 291 | €319,264 | - | -€319,264 | |
| Amounts receivable within one year | 40/41 | €83,750 | - | -€83,750 | |
| Trade receivables | 40 | €83,750 | - | -€83,750 | |
| Cash at bank and in hand | 54/58 | €3,988 | €5,318 | +€1,330 | +33.3% |
| Total equity and liabilities | 10/49 | €856,283 | €1,398,368 | +€542,085 | +63.3% |
| Equity | 10/15 | €349,202 | €347,117 | -€2,086 | -0.6% |
| Contributions | 10/11 | €61,731 | €61,731 | = | 0.0% |
| Contributions outside capital | 11 | €61,731 | €61,731 | = | 0.0% |
| Other | 1109/19 | €61,731 | €61,731 | = | 0.0% |
| Reserves | 13 | €381,151 | €379,029 | -€2,122 | -0.6% |
| Tax-exempt reserves | 132 | €347,685 | €345,563 | -€2,122 | -0.6% |
| Distributable reserves | 133 | €33,466 | €33,466 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,680 | -€93,644 | +€36 | 0.0% |
| Provisions and deferred taxes | 16 | €115,895 | €115,188 | -€707 | -0.6% |
| Deferred taxes | 168 | €115,895 | €115,188 | -€707 | -0.6% |
| Amounts payable | 17/49 | €391,185 | €936,064 | +€544,878 | +139% |
| Amounts payable after more than one year | 17 | €353,286 | €777,377 | +€424,091 | +120% |
| Financial debts | 170/4 | €348,286 | €772,377 | +€424,091 | +122% |
| Other amounts payable | 178/9 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,359 | €155,600 | +€119,241 | +328% |
| Current portion of amounts payable after more than one year | 42 | €31,506 | €61,005 | +€29,499 | +93.6% |
| Trade debts | 44 | €1,452 | €3,356 | +€1,904 | +131% |
| Suppliers | 440/4 | €1,452 | €3,356 | +€1,904 | +131% |
| Other amounts payable | 47/48 | €3,401 | €91,238 | +€87,837 | +2,583% |
| Accrued charges and deferred income | 492/3 | €1,540 | €3,087 | +€1,547 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,534 | €66,541 | +€4,007 | +6.4% |
| Other operating charges | 640/8 | €7,228 | €13,205 | +€5,977 | +82.7% |
| Gross operating margin | 9900 | €189,670 | €80,567 | -€109,103 | -57.5% |
| Operating profit (loss) | 9901 | €119,908 | €821 | -€119,087 | -99.3% |
| Financial income | 75/76B | €5,522 | €8,891 | +€3,369 | +61.0% |
| Recurring financial income | 75 | €5,522 | €8,891 | +€3,369 | +61.0% |
| Financial charges | 65/66B | €9,630 | €12,505 | +€2,875 | +29.9% |
| Recurring financial charges | 65 | €9,630 | €12,505 | +€2,875 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €115,800 | -€2,793 | -€118,593 | |
| Transfer from deferred taxes | 780 | - | €707 | +€707 | |
| Income taxes | 67/77 | -€157 | - | +€157 | |
| Profit (loss) for the period | 9904 | €115,957 | -€2,086 | -€118,043 | |
| Transfer from tax-exempt reserves | 789 | - | €2,122 | +€2,122 | |
| Profit (loss) for the period to be appropriated | 9905 | €115,957 | €36 | -€115,921 | -100.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.