CASDEUX: 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.
CASDEUX
Largest movements
- Tangible fixed assets -€45,760
down €45,760 (-14.9%), from €307,451 to €261,691
of which Land and buildings: -€31,952
- Current investments +€36,000
up €36,000 (+42.9%), from €84,000 to €120,000
- Cash -€32,713
down €32,713 (-43.2%), from €75,660 to €42,947
mainly Current investments (-€36,000) and Debts after one year (-€23,821)
- Stocks and contracts +€18,042
up €18,042 (+18.4%), from €98,124 to €116,166
- Debts after one year -€23,821
down €23,821 (-11.3%), from €210,050 to €186,229
- Reserves +€22,738
up €22,738 (+102%), from €22,400 to €45,138
- Other debts -€19,009
down €19,009 (-27.1%), from €70,271 to €51,262
- Current portion of long-term debt -€8,402
down €8,402 (-26.1%), from €32,223 to €23,821
- Trade debts +€6,007
up €6,007 (+17.7%), from €34,014 to €40,022
- Gross operating margin -€2,370
down €2,370 (-1.9%), from €121,880 to €119,510
- Taxes +€2,034
up €2,034 (+19.9%), from €10,237 to €12,271
- Depreciation -€1,896
down €1,896 (-4.0%), from €47,657 to €45,760
- Financial income -€1,793
down €1,793 (-15.4%), from €11,607 to €9,814
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 | €570,058 | €544,426 | -€25,632 | -4.5% |
| Fixed assets | 21/28 | €307,861 | €262,101 | -€45,760 | -14.9% |
| Tangible fixed assets | 22/27 | €307,451 | €261,691 | -€45,760 | -14.9% |
| Land and buildings | 22 | €258,467 | €226,515 | -€31,952 | -12.4% |
| Plant, machinery and equipment | 23 | €10,894 | €8,217 | -€2,678 | -24.6% |
| Furniture and vehicles | 24 | €38,090 | €26,959 | -€11,131 | -29.2% |
| Financial fixed assets | 28 | €410 | €410 | = | 0.0% |
| Current assets | 29/58 | €262,197 | €282,325 | +€20,128 | +7.7% |
| Stocks and contracts in progress | 3 | €98,124 | €116,166 | +€18,042 | +18.4% |
| Stocks | 30/36 | €98,124 | €116,166 | +€18,042 | +18.4% |
| Amounts receivable within one year | 40/41 | €1,949 | €1,249 | -€700 | -35.9% |
| Trade receivables | 40 | €1,752 | €946 | -€806 | -46.0% |
| Other amounts receivable | 41 | €197 | €303 | +€106 | +53.6% |
| Current investments | 50/53 | €84,000 | €120,000 | +€36,000 | +42.9% |
| Cash at bank and in hand | 54/58 | €75,660 | €42,947 | -€32,713 | -43.2% |
| Deferred charges and accrued income | 490/1 | €2,464 | €1,963 | -€501 | -20.3% |
| Total equity and liabilities | 10/49 | €570,058 | €544,426 | -€25,632 | -4.5% |
| Equity | 10/15 | €186,362 | €209,100 | +€22,738 | +12.2% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €22,400 | €45,138 | +€22,738 | +102% |
| Distributable reserves | 133 | €22,400 | €45,138 | +€22,738 | +102% |
| Profit (loss) carried forward | 14 | €123,962 | €123,962 | = | 0.0% |
| Amounts payable | 17/49 | €383,696 | €335,326 | -€48,371 | -12.6% |
| Amounts payable after more than one year | 17 | €210,050 | €186,229 | -€23,821 | -11.3% |
| Financial debts | 170/4 | €210,050 | €186,229 | -€23,821 | -11.3% |
| Amounts payable within one year | 42/48 | €172,396 | €147,846 | -€24,549 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €32,223 | €23,821 | -€8,402 | -26.1% |
| Trade debts | 44 | €34,014 | €40,022 | +€6,007 | +17.7% |
| Suppliers | 440/4 | €34,014 | €40,022 | +€6,007 | +17.7% |
| Taxes, remuneration and social security | 45 | €35,887 | €32,741 | -€3,146 | -8.8% |
| Taxes | 450/3 | €29,540 | €24,174 | -€5,366 | -18.2% |
| Remuneration and social security | 454/9 | €6,347 | €8,567 | +€2,221 | +35.0% |
| Other amounts payable | 47/48 | €70,271 | €51,262 | -€19,009 | -27.1% |
| Accrued charges and deferred income | 492/3 | €1,251 | €1,251 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €34,763 | €35,108 | +€345 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,657 | €45,760 | -€1,896 | -4.0% |
| Other operating charges | 640/8 | €4,338 | €4,012 | -€325 | -7.5% |
| Gross operating margin | 9900 | €121,880 | €119,510 | -€2,370 | -1.9% |
| Operating profit (loss) | 9901 | €35,122 | €34,629 | -€494 | -1.4% |
| Financial income | 75/76B | €11,607 | €9,814 | -€1,793 | -15.4% |
| Recurring financial income | 75 | €11,607 | €9,814 | -€1,793 | -15.4% |
| Financial charges | 65/66B | €10,075 | €9,433 | -€642 | -6.4% |
| Recurring financial charges | 65 | €10,075 | €9,433 | -€642 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €36,654 | €35,010 | -€1,644 | -4.5% |
| Income taxes | 67/77 | €10,237 | €12,271 | +€2,034 | +19.9% |
| Profit (loss) for the period | 9904 | €26,417 | €22,738 | -€3,679 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,417 | €22,738 | -€3,679 | -13.9% |
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 18 October 2026 via checked.be.