Casebe: 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.
Casebe
Largest movements
- Tangible fixed assets +€232,023
up €232,023 (+894.9%), from €25,928 to €257,952
of which Land and buildings: +€233,314
- Current investments -€90,000
no longer reported in 2025 (was €90,000)
- Receivables after one year -€40,000
no longer reported in 2025 (was €40,000)
- Receivables within one year +€39,331
up €39,331 (+15021.5%), from €262 to €39,593
of which Trade receivables: +€38,197
- Cash -€32,844
down €32,844 (-64.8%), from €50,717 to €17,873
mainly Investment in fixed assets (net) (-€240,555) and Contributions, distributions and other (-€239,065)
- Debts after one year +€159,461
new in 2025: €159,461
- Reserves -€158,857
down €158,857 (-99.9%), from €159,065 to €208
- Other debts +€94,863
up €94,863 (+24183.0%), from €392 to €95,255
- Current portion of long-term debt +€9,059
new in 2025: €9,059
- Tax, wage and social debts +€5,005
up €5,005 (+12.0%), from €41,684 to €46,689
of which Taxes: +€7,175
- Gross operating margin +€26,809
up €26,809 (+31.5%), from €85,036 to €111,845
- Taxes +€5,328
up €5,328 (+33.0%), from €16,150 to €21,478
- Depreciation +€3,183
up €3,183 (+59.5%), from €5,348 to €8,532
- Financial charges +€2,018
up €2,018 (+463.2%), from €436 to €2,454
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 | €206,907 | €315,417 | +€108,510 | +52.4% |
| Fixed assets | 21/28 | €25,928 | €257,952 | +€232,023 | +894.9% |
| Tangible fixed assets | 22/27 | €25,928 | €257,952 | +€232,023 | +894.9% |
| Land and buildings | 22 | €17,394 | €250,708 | +€233,314 | +1341.3% |
| Furniture and vehicles | 24 | €8,534 | €7,243 | -€1,291 | -15.1% |
| Current assets | 29/58 | €180,979 | €57,465 | -€123,513 | -68.2% |
| Amounts receivable after more than one year | 29 | €40,000 | - | -€40,000 | |
| Other amounts receivable | 291 | €40,000 | - | -€40,000 | |
| Amounts receivable within one year | 40/41 | €262 | €39,593 | +€39,331 | +15021.5% |
| Trade receivables | 40 | - | €38,197 | +€38,197 | |
| Other amounts receivable | 41 | €262 | €1,396 | +€1,134 | +433.0% |
| Current investments | 50/53 | €90,000 | - | -€90,000 | |
| Cash at bank and in hand | 54/58 | €50,717 | €17,873 | -€32,844 | -64.8% |
| Total equity and liabilities | 10/49 | €206,907 | €315,417 | +€108,510 | +52.4% |
| Equity | 10/15 | €163,065 | €4,208 | -€158,857 | -97.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €159,065 | €208 | -€158,857 | -99.9% |
| Distributable reserves | 133 | €159,065 | €208 | -€158,857 | -99.9% |
| Amounts payable | 17/49 | €43,842 | €311,209 | +€267,367 | +609.8% |
| Amounts payable after more than one year | 17 | - | €159,461 | +€159,461 | |
| Financial debts | 170/4 | - | €159,461 | +€159,461 | |
| Amounts payable within one year | 42/48 | €43,842 | €151,748 | +€107,906 | +246.1% |
| Current portion of amounts payable after more than one year | 42 | - | €9,059 | +€9,059 | |
| Trade debts | 44 | €1,765 | €745 | -€1,021 | -57.8% |
| Suppliers | 440/4 | €1,765 | €745 | -€1,021 | -57.8% |
| Taxes, remuneration and social security | 45 | €41,684 | €46,689 | +€5,005 | +12.0% |
| Taxes | 450/3 | €39,184 | €46,360 | +€7,175 | +18.3% |
| Remuneration and social security | 454/9 | €2,500 | €330 | -€2,170 | -86.8% |
| Other amounts payable | 47/48 | €392 | €95,255 | +€94,863 | +24183.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,348 | €8,532 | +€3,183 | +59.5% |
| Other operating charges | 640/8 | €1,694 | €1,070 | -€624 | -36.8% |
| Gross operating margin | 9900 | €85,036 | €111,845 | +€26,809 | +31.5% |
| Operating profit (loss) | 9901 | €77,994 | €102,243 | +€24,249 | +31.1% |
| Financial income | 75/76B | €1,008 | €1,897 | +€889 | +88.2% |
| Recurring financial income | 75 | €1,008 | €1,897 | +€889 | +88.2% |
| Financial charges | 65/66B | €436 | €2,454 | +€2,018 | +463.2% |
| Recurring financial charges | 65 | €436 | €2,454 | +€2,018 | +463.2% |
| Profit (loss) for the period before taxes | 9903 | €78,566 | €101,686 | +€23,120 | +29.4% |
| Income taxes | 67/77 | €16,150 | €21,478 | +€5,328 | +33.0% |
| Profit (loss) for the period | 9904 | €62,416 | €80,208 | +€17,792 | +28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,416 | €80,208 | +€17,792 | +28.5% |
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.