CASA. CO: 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.
What changed
CASA. CO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€801,247
2024 · €6.4m-€5.6m
Equity
€15.7m
2024 · €14.9m+€801,247
Cash
€122,533
2024 · €163,658-€41,124
Balance sheet total
€16.1m
2024 · €15.0m+€1.0m
Largest movements
Assets
- Current investments +€1.2m
up €1.2m (+15.2%), from €8.2m to €9.5m
Equity and liabilities
- Reserves +€801,247
up €801,247 (+5.7%), from €14.1m to €14.9m
of which Tax-exempt reserves: +€626,505
- Provisions +€180,768
new in 2025: €180,768
Income statement
- Financial income -€6.2m
down €6.2m (-97.0%), from €6.3m to €191,646
of which Non-recurring financial income: -€6.1m
- Gross operating margin +€726,554
up €726,554 (+286%), from €253,881 to €980,435
- Depreciation -€26,867
down €26,867 (-38.6%), from €69,687 to €42,820
- Taxes +€19,503
up €19,503 (+25.4%), from €76,864 to €96,367
- Other operating charges +€19,150
up €19,150 (+204%), from €9,367 to €28,517
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.
Result 2024
€6.4m
Gross operating margin
+€726,554
Depreciation
+€26,867
Other operating charges
-€19,150
Other operating items
-€22,115
Financial income
-€6.2m
Financial charges
+€5,307
Taxes
-€19,503
Deferred taxes and other
-€180,768
Result 2025
€801,247
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€1.2m
Investment
-€1.2m
Financing
€0
Cash 2024
€163,658
From operations (derived)
+€1.2m
Net result for the year
+€801,247
Depreciation
+€42,820
Receivables within one year
+€114,689
Smaller working-capital items
-€1,703
Provisions
+€180,768
Tax, wage and social debts
+€19,131
Other debts
+€20,000
Investment (derived)
-€1.2m
Investment in fixed assets (net)
+€30,791
Current investments
-€1.2m
Cash 2025
€122,533
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,037,944 | €16,060,322 | +€1.0m | +6.8% |
| Fixed assets | 21/28 | €6,422,380 | €6,348,769 | -€73,611 | -1.1% |
| Tangible fixed assets | 22/27 | €1,348,821 | €1,275,210 | -€73,611 | -5.5% |
| Land and buildings | 22 | €570,732 | €481,438 | -€89,294 | -15.6% |
| Furniture and vehicles | 24 | €71,841 | €87,524 | +€15,683 | +21.8% |
| Leasing and similar rights | 25 | €706,249 | €706,249 | = | 0.0% |
| Financial fixed assets | 28 | €5,073,559 | €5,073,559 | = | 0.0% |
| Current assets | 29/58 | €8,615,563 | €9,711,553 | +€1.1m | +12.7% |
| Amounts receivable within one year | 40/41 | €195,334 | €80,645 | -€114,689 | -58.7% |
| Trade receivables | 40 | €28,913 | €48,779 | +€19,866 | +68.7% |
| Other amounts receivable | 41 | €166,422 | €31,866 | -€134,556 | -80.9% |
| Current investments | 50/53 | €8,215,207 | €9,464,076 | +€1.2m | +15.2% |
| Cash at bank and in hand | 54/58 | €163,658 | €122,533 | -€41,124 | -25.1% |
| Deferred charges and accrued income | 490/1 | €41,364 | €44,299 | +€2,935 | +7.1% |
| Total equity and liabilities | 10/49 | €15,037,944 | €16,060,322 | +€1.0m | +6.8% |
| Equity | 10/15 | €14,940,014 | €15,741,261 | +€801,247 | +5.4% |
| Contributions | 10/11 | €253,047 | €253,047 | = | 0.0% |
| Revaluation surpluses | 12 | €547,301 | €547,301 | = | 0.0% |
| Reserves | 13 | €14,139,666 | €14,940,912 | +€801,247 | +5.7% |
| Tax-exempt reserves | 132 | - | €626,505 | +€626,505 | |
| Distributable reserves | 133 | €14,139,666 | €14,314,408 | +€174,742 | +1.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | - | €180,768 | +€180,768 | |
| Deferred taxes | 168 | - | €180,768 | +€180,768 | |
| Amounts payable | 17/49 | €97,930 | €138,293 | +€40,363 | +41.2% |
| Amounts payable within one year | 42/48 | €97,921 | €138,293 | +€40,372 | +41.2% |
| Trade debts | 44 | €10,835 | €12,075 | +€1,240 | +11.4% |
| Suppliers | 440/4 | €10,835 | €12,075 | +€1,240 | +11.4% |
| Taxes, remuneration and social security | 45 | €87,086 | €106,218 | +€19,131 | +22.0% |
| Taxes | 450/3 | €87,086 | €104,972 | +€17,886 | +20.5% |
| Remuneration and social security | 454/9 | - | €1,246 | +€1,246 | |
| Other amounts payable | 47/48 | €0 | €20,000 | +€20,000 | |
| Accrued charges and deferred income | 492/3 | €9 | €0 | -€9 | -100% |
| Non-recurring operating income | 76A | - | €780,271 | +€780,271 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,687 | €42,820 | -€26,867 | -38.6% |
| Other operating charges | 640/8 | €9,367 | €28,517 | +€19,150 | +204% |
| Non-recurring operating charges | 66A | - | €22,115 | +€22,115 | |
| Gross operating margin | 9900 | €253,881 | €980,435 | +€726,554 | +286% |
| Operating profit (loss) | 9901 | €174,828 | €886,984 | +€712,156 | +407% |
| Financial income | 75/76B | €6,345,378 | €191,646 | -€6.2m | -97.0% |
| Recurring financial income | 75 | €196,559 | €191,646 | -€4,914 | -2.5% |
| Non-recurring financial income | 76B | €6,148,819 | €0 | -€6.1m | -100% |
| Financial charges | 65/66B | €5,554 | €247 | -€5,307 | -95.6% |
| Recurring financial charges | 65 | €5,554 | €247 | -€5,307 | -95.6% |
| Profit (loss) for the period before taxes | 9903 | €6,514,652 | €1,078,382 | -€5.4m | -83.4% |
| Transfer to deferred taxes | 680 | - | €180,768 | +€180,768 | |
| Income taxes | 67/77 | €76,864 | €96,367 | +€19,503 | +25.4% |
| Profit (loss) for the period | 9904 | €6,437,788 | €801,247 | -€5.6m | -87.6% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | - | €626,505 | +€626,505 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,437,788 | €174,742 | -€6.3m | -97.3% |
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 22 October 2026 via checked.be.