CASAERT PIGEONS: 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.
CASAERT PIGEONS
Largest movements
- Receivables within one year +€72,299
up €72,299 (+894%), from €8,089 to €80,388
- Tangible fixed assets -€30,848
down €30,848 (-22.7%), from €136,056 to €105,208
of which Plant, machinery and equipment: -€22,631
- Cash +€24,000
up €24,000 (+43.2%), from €55,562 to €79,563
mainly Trade debts (+€63,948) and Investment in fixed assets (net) (+€21,923)
- Stocks and contracts -€5,640
down €5,640 (-90.0%), from €6,270 to €630
- Trade debts +€63,948
up €63,948 (+1,409%), from €4,538 to €68,487
- Debts after one year -€13,045
down €13,045 (-18.9%), from €69,131 to €56,086
- Profit (loss) carried forward +€6,612
up €6,612 (+6.3%), from €104,949 to €111,561
- Tax, wage and social debts -€4,084
down €4,084 (-47.4%), from €8,616 to €4,532
of which Remuneration and social security: -€5,543
- Other debts +€3,792
up €3,792 (+644%), from €589 to €4,381
- Gross operating margin +€20,312
up €20,312 (+177%), from €11,479 to €31,791
- Staff costs -€11,609
down €11,609 (-52.4%), from €22,172 to €10,563
- Depreciation -€7,681
down €7,681 (-46.3%), from €16,606 to €8,925
- Financial charges -€695
down €695 (-22.8%), from €3,052 to €2,357
- Other operating charges -€451
down €451 (-13.1%), from €3,444 to €2,992
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €208,771 | €266,152 | +€57,381 | +27.5% |
| Fixed assets | 21/28 | €136,056 | €105,208 | -€30,848 | -22.7% |
| Tangible fixed assets | 22/27 | €136,056 | €105,208 | -€30,848 | -22.7% |
| Land and buildings | 22 | €100,927 | €95,827 | -€5,100 | -5.1% |
| Plant, machinery and equipment | 23 | €24,185 | €1,554 | -€22,631 | -93.6% |
| Furniture and vehicles | 24 | €10,943 | €7,827 | -€3,117 | -28.5% |
| Current assets | 29/58 | €72,715 | €160,944 | +€88,229 | +121% |
| Stocks and contracts in progress | 3 | €6,270 | €630 | -€5,640 | -90.0% |
| Stocks | 30/36 | €6,270 | €630 | -€5,640 | -90.0% |
| Amounts receivable within one year | 40/41 | €8,089 | €80,388 | +€72,299 | +894% |
| Trade receivables | 40 | €8,089 | €80,388 | +€72,299 | +894% |
| Cash at bank and in hand | 54/58 | €55,562 | €79,563 | +€24,000 | +43.2% |
| Deferred charges and accrued income | 490/1 | €2,793 | €363 | -€2,430 | -87.0% |
| Total equity and liabilities | 10/49 | €208,771 | €266,152 | +€57,381 | +27.5% |
| Equity | 10/15 | €113,009 | €119,621 | +€6,612 | +5.9% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,949 | €111,561 | +€6,612 | +6.3% |
| Amounts payable | 17/49 | €95,761 | €146,530 | +€50,769 | +53.0% |
| Amounts payable after more than one year | 17 | €69,131 | €56,086 | -€13,045 | -18.9% |
| Financial debts | 170/4 | €69,131 | €56,086 | -€13,045 | -18.9% |
| Amounts payable within one year | 42/48 | €26,630 | €90,444 | +€63,814 | +240% |
| Current portion of amounts payable after more than one year | 42 | €12,887 | €13,045 | +€158 | +1.2% |
| Trade debts | 44 | €4,538 | €68,487 | +€63,948 | +1,409% |
| Suppliers | 440/4 | €4,538 | €68,487 | +€63,948 | +1,409% |
| Taxes, remuneration and social security | 45 | €8,616 | €4,532 | -€4,084 | -47.4% |
| Taxes | 450/3 | €3,072 | €4,532 | +€1,459 | +47.5% |
| Remuneration and social security | 454/9 | €5,543 | - | -€5,543 | |
| Other amounts payable | 47/48 | €589 | €4,381 | +€3,792 | +644% |
| Non-recurring operating income | 76A | - | €7,746 | +€7,746 | |
| Remuneration, social security and pensions | 62 | €22,172 | €10,563 | -€11,609 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,606 | €8,925 | -€7,681 | -46.3% |
| Other operating charges | 640/8 | €3,444 | €2,992 | -€451 | -13.1% |
| Non-recurring operating charges | 66A | €4,250 | - | -€4,250 | |
| Gross operating margin | 9900 | €11,479 | €31,791 | +€20,312 | +177% |
| Operating profit (loss) | 9901 | -€34,992 | €9,311 | +€44,303 | |
| Financial income | 75/76B | €420 | €186 | -€233 | -55.6% |
| Recurring financial income | 75 | €420 | €186 | -€233 | -55.6% |
| Financial charges | 65/66B | €3,052 | €2,357 | -€695 | -22.8% |
| Recurring financial charges | 65 | €3,052 | €2,357 | -€695 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,625 | €7,140 | +€44,765 | |
| Income taxes | 67/77 | €409 | €528 | +€120 | +29.4% |
| Profit (loss) for the period | 9904 | -€38,034 | €6,612 | +€44,645 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,034 | €6,612 | +€44,645 |
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 20 October 2026 via checked.be.