CASCADE: 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.
CASCADE
Largest movements
- Receivables within one year +€61,493
up €61,493 (+128.8%), from €47,734 to €109,227
of which Other amounts receivable: +€54,668
- Cash -€11,132
down €11,132 (-57.9%), from €19,233 to €8,101
mainly Receivables within one year (-€61,493) and Trade debts (-€6,126)
- Other debts +€53,039
up €53,039 (+878.3%), from €6,039 to €59,078
- Trade debts -€6,126
down €6,126 (-88.7%), from €6,909 to €783
- Tax, wage and social debts +€1,857
up €1,857 (+2670.0%), from €70 to €1,926
- Reserves +€1,238
up €1,238 (+3.5%), from €35,791 to €37,029
of which Distributable reserves: +€1,238
- Financial charges -€33,531
down €33,531 (-99.6%), from €33,656 to €125
- Gross operating margin +€11,045
up €11,045, from -€10,474 to €571
- Financial income +€2,097
up €2,097 (+5674.1%), from €37 to €2,134
- Taxes +€464
new in 2025: €464
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 | €67,408 | €117,416 | +€50,007 | +74.2% |
| Fixed assets | 21/28 | €380 | €88 | -€292 | -76.8% |
| Tangible fixed assets | 22/27 | €380 | €88 | -€292 | -76.8% |
| Furniture and vehicles | 24 | €380 | €88 | -€292 | -76.8% |
| Current assets | 29/58 | €67,028 | €117,328 | +€50,299 | +75.0% |
| Amounts receivable within one year | 40/41 | €47,734 | €109,227 | +€61,493 | +128.8% |
| Trade receivables | 40 | - | €6,824 | +€6,824 | |
| Other amounts receivable | 41 | €47,734 | €102,402 | +€54,668 | +114.5% |
| Current investments | 50/53 | €62 | - | -€62 | |
| Cash at bank and in hand | 54/58 | €19,233 | €8,101 | -€11,132 | -57.9% |
| Total equity and liabilities | 10/49 | €67,408 | €117,416 | +€50,007 | +74.2% |
| Equity | 10/15 | €54,391 | €55,629 | +€1,238 | +2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35,791 | €37,029 | +€1,238 | +3.5% |
| Tax-exempt reserves | 132 | €389 | €389 | = | 0.0% |
| Distributable reserves | 133 | €35,402 | €36,640 | +€1,238 | +3.5% |
| Amounts payable | 17/49 | €13,017 | €61,787 | +€48,770 | +374.7% |
| Amounts payable within one year | 42/48 | €13,017 | €61,787 | +€48,770 | +374.7% |
| Trade debts | 44 | €6,909 | €783 | -€6,126 | -88.7% |
| Suppliers | 440/4 | €6,909 | €783 | -€6,126 | -88.7% |
| Taxes, remuneration and social security | 45 | €70 | €1,926 | +€1,857 | +2670.0% |
| Taxes | 450/3 | €70 | €1,926 | +€1,857 | +2670.0% |
| Other amounts payable | 47/48 | €6,039 | €59,078 | +€53,039 | +878.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292 | €292 | = | 0.0% |
| Other operating charges | 640/8 | €574 | €587 | +€12 | +2.2% |
| Gross operating margin | 9900 | -€10,474 | €571 | +€11,045 | |
| Operating profit (loss) | 9901 | -€11,341 | -€307 | +€11,033 | +97.3% |
| Financial income | 75/76B | €37 | €2,134 | +€2,097 | +5674.1% |
| Recurring financial income | 75 | €37 | €2,134 | +€2,097 | +5674.1% |
| Financial charges | 65/66B | €33,656 | €125 | -€33,531 | -99.6% |
| Recurring financial charges | 65 | €33,656 | €125 | -€33,531 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | -€44,959 | €1,702 | +€46,661 | |
| Income taxes | 67/77 | - | €464 | +€464 | |
| Profit (loss) for the period | 9904 | -€44,959 | €1,238 | +€46,197 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,959 | €1,238 | +€46,197 |
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 3 October 2026 via checked.be.