CASABULL: 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.
CASABULL
Largest movements
- Receivables within one year -€269,076
down €269,076 (-43.6%), from €617,524 to €348,448
of which Trade receivables: -€265,532
- Cash +€205,852
up €205,852 (+106.3%), from €193,688 to €399,541
mainly Net result for the year (+€310,951) and Receivables within one year (+€269,076)
- Tangible fixed assets -€133,258
down €133,258 (-8.9%), from €1.5m to €1.4m
of which Land and buildings: -€86,691
- Other debts -€400,000
no longer reported in 2025 (was €400,000)
- Reserves +€310,951
up €310,951 (+12.4%), from €2.5m to €2.8m
of which Distributable reserves: +€314,521
- Debts after one year -€106,279
down €106,279 (-17.4%), from €609,822 to €503,543
- Gross operating margin +€51,004
up €51,004 (+6.2%), from €821,725 to €872,729
- Financial income -€44,707
down €44,707 (-49.6%), from €90,205 to €45,498
of which Non-recurring financial income: -€33,884
- Taxes +€29,844
up €29,844 (+26.7%), from €111,571 to €141,415
- Depreciation +€27,989
up €27,989 (+23.4%), from €119,805 to €147,794
- Staff costs +€17,473
up €17,473 (+6.6%), from €262,885 to €280,358
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 | €3,828,196 | €3,642,494 | -€185,702 | -4.9% |
| Fixed assets | 21/28 | €1,511,837 | €1,376,771 | -€135,066 | -8.9% |
| Intangible fixed assets | 21 | €4,069 | €2,261 | -€1,809 | -44.4% |
| Tangible fixed assets | 22/27 | €1,505,118 | €1,371,860 | -€133,258 | -8.9% |
| Land and buildings | 22 | €1,322,428 | €1,235,737 | -€86,691 | -6.6% |
| Plant, machinery and equipment | 23 | €27,161 | €1,787 | -€25,374 | -93.4% |
| Furniture and vehicles | 24 | €155,529 | €134,336 | -€21,193 | -13.6% |
| Financial fixed assets | 28 | €2,650 | €2,650 | = | 0.0% |
| Current assets | 29/58 | €2,316,359 | €2,265,723 | -€50,636 | -2.2% |
| Stocks and contracts in progress | 3 | €59,483 | €52,275 | -€7,208 | -12.1% |
| Stocks | 30/36 | €59,483 | €52,275 | -€7,208 | -12.1% |
| Amounts receivable within one year | 40/41 | €617,524 | €348,448 | -€269,076 | -43.6% |
| Trade receivables | 40 | €602,064 | €336,532 | -€265,532 | -44.1% |
| Other amounts receivable | 41 | €15,460 | €11,915 | -€3,544 | -22.9% |
| Current investments | 50/53 | €1,442,167 | €1,463,050 | +€20,883 | +1.4% |
| Cash at bank and in hand | 54/58 | €193,688 | €399,541 | +€205,852 | +106.3% |
| Deferred charges and accrued income | 490/1 | €3,497 | €2,410 | -€1,087 | -31.1% |
| Total equity and liabilities | 10/49 | €3,828,196 | €3,642,494 | -€185,702 | -4.9% |
| Equity | 10/15 | €2,563,448 | €2,874,399 | +€310,951 | +12.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,501,448 | €2,812,399 | +€310,951 | +12.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,278 | €35,707 | -€3,571 | -9.1% |
| Distributable reserves | 133 | €2,455,970 | €2,770,492 | +€314,521 | +12.8% |
| Provisions and deferred taxes | 16 | €20,225 | €18,386 | -€1,839 | -9.1% |
| Deferred taxes | 168 | €20,225 | €18,386 | -€1,839 | -9.1% |
| Amounts payable | 17/49 | €1,244,523 | €749,709 | -€494,814 | -39.8% |
| Amounts payable after more than one year | 17 | €609,822 | €503,543 | -€106,279 | -17.4% |
| Financial debts | 170/4 | €609,822 | €503,543 | -€106,279 | -17.4% |
| Amounts payable within one year | 42/48 | €634,701 | €246,166 | -€388,535 | -61.2% |
| Current portion of amounts payable after more than one year | 42 | €103,520 | €106,279 | +€2,759 | +2.7% |
| Trade debts | 44 | €79,340 | €88,500 | +€9,160 | +11.5% |
| Suppliers | 440/4 | €79,340 | €88,500 | +€9,160 | +11.5% |
| Advances received on contracts in progress | 46 | - | €153 | +€153 | |
| Taxes, remuneration and social security | 45 | €51,841 | €51,234 | -€607 | -1.2% |
| Taxes | 450/3 | €28,822 | €23,395 | -€5,427 | -18.8% |
| Remuneration and social security | 454/9 | €23,019 | €27,840 | +€4,820 | +20.9% |
| Other amounts payable | 47/48 | €400,000 | - | -€400,000 | |
| Remuneration, social security and pensions | 62 | €262,885 | €280,358 | +€17,473 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,805 | €147,794 | +€27,989 | +23.4% |
| Other operating charges | 640/8 | €20,995 | €21,567 | +€572 | +2.7% |
| Gross operating margin | 9900 | €821,725 | €872,729 | +€51,004 | +6.2% |
| Operating profit (loss) | 9901 | €418,040 | €423,010 | +€4,971 | +1.2% |
| Financial income | 75/76B | €90,205 | €45,498 | -€44,707 | -49.6% |
| Recurring financial income | 75 | €56,321 | €45,498 | -€10,823 | -19.2% |
| Non-recurring financial income | 76B | €33,884 | - | -€33,884 | |
| Financial charges | 65/66B | €20,587 | €17,981 | -€2,605 | -12.7% |
| Recurring financial charges | 65 | €20,587 | €17,981 | -€2,605 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €487,658 | €450,527 | -€37,131 | -7.6% |
| Transfer from deferred taxes | 780 | €1,839 | €1,839 | = | 0.0% |
| Income taxes | 67/77 | €111,571 | €141,415 | +€29,844 | +26.7% |
| Profit (loss) for the period | 9904 | €377,926 | €310,951 | -€66,975 | -17.7% |
| Transfer from tax-exempt reserves | 789 | €3,571 | €3,571 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €381,496 | €314,521 | -€66,975 | -17.6% |
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 6 October 2026 via checked.be.