CASEFI: 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.
CASEFI
Largest movements
- Receivables within one year +€132,931
up €132,931 (+81.4%), from €163,304 to €296,235
of which Trade receivables: +€156,594
- Cash -€124,459
down €124,459 (-58.3%), from €213,451 to €88,993
mainly Receivables within one year (-€132,931) and Trade debts (-€7,437)
- Deferred charges and accrued income -€11,426
down €11,426 (-93.0%), from €12,286 to €860
- Tangible fixed assets -€8,968
down €8,968 (-11.2%), from €79,998 to €71,029
of which Plant, machinery and equipment: -€5,559
- Trade debts -€7,437
down €7,437 (-26.1%), from €28,455 to €21,019
- Current portion of long-term debt -€7,303
down €7,303 (-24.5%), from €29,761 to €22,458
- Profit (loss) carried forward +€5,697
up €5,697 (+1.8%), from €319,695 to €325,392
- Gross operating margin +€16,251
up €16,251 (+18.7%), from €86,974 to €103,225
- Staff costs +€15,586
up €15,586 (+23.2%), from €67,051 to €82,637
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 | €469,855 | €457,933 | -€11,922 | -2.5% |
| Fixed assets | 21/28 | €80,813 | €71,845 | -€8,968 | -11.1% |
| Tangible fixed assets | 22/27 | €79,998 | €71,029 | -€8,968 | -11.2% |
| Land and buildings | 22 | €58,037 | €54,628 | -€3,409 | -5.9% |
| Plant, machinery and equipment | 23 | €21,961 | €16,401 | -€5,559 | -25.3% |
| Financial fixed assets | 28 | €816 | €816 | = | 0.0% |
| Current assets | 29/58 | €389,042 | €386,088 | -€2,954 | -0.8% |
| Amounts receivable within one year | 40/41 | €163,304 | €296,235 | +€132,931 | +81.4% |
| Trade receivables | 40 | €94,749 | €251,343 | +€156,594 | +165.3% |
| Other amounts receivable | 41 | €68,556 | €44,892 | -€23,664 | -34.5% |
| Cash at bank and in hand | 54/58 | €213,451 | €88,993 | -€124,459 | -58.3% |
| Deferred charges and accrued income | 490/1 | €12,286 | €860 | -€11,426 | -93.0% |
| Total equity and liabilities | 10/49 | €469,855 | €457,933 | -€11,922 | -2.5% |
| Equity | 10/15 | €404,226 | €409,924 | +€5,697 | +1.4% |
| Contributions | 10/11 | €76,847 | €76,847 | = | 0.0% |
| Reserves | 13 | €7,685 | €7,685 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,685 | €7,685 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,685 | €7,685 | = | 0.0% |
| Profit (loss) carried forward | 14 | €319,695 | €325,392 | +€5,697 | +1.8% |
| Amounts payable | 17/49 | €65,629 | €48,009 | -€17,620 | -26.8% |
| Amounts payable within one year | 42/48 | €65,629 | €48,009 | -€17,620 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €29,761 | €22,458 | -€7,303 | -24.5% |
| Trade debts | 44 | €28,455 | €21,019 | -€7,437 | -26.1% |
| Suppliers | 440/4 | €28,455 | €21,019 | -€7,437 | -26.1% |
| Taxes, remuneration and social security | 45 | €6,682 | €3,802 | -€2,880 | -43.1% |
| Taxes | 450/3 | €6,682 | €3,802 | -€2,880 | -43.1% |
| Other amounts payable | 47/48 | €730 | €730 | = | 0.0% |
| Non-recurring operating income | 76A | €472 | €427 | -€44 | -9.4% |
| Remuneration, social security and pensions | 62 | €67,051 | €82,637 | +€15,586 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,707 | €8,968 | +€261 | +3.0% |
| Other operating charges | 640/8 | €1,305 | €1,245 | -€60 | -4.6% |
| Gross operating margin | 9900 | €86,974 | €103,225 | +€16,251 | +18.7% |
| Operating profit (loss) | 9901 | €9,910 | €10,374 | +€464 | +4.7% |
| Financial income | 75/76B | €50 | €130 | +€80 | +158.8% |
| Recurring financial income | 75 | €50 | €130 | +€80 | +158.8% |
| Financial charges | 65/66B | €2,921 | €2,071 | -€850 | -29.1% |
| Recurring financial charges | 65 | €2,921 | €2,071 | -€850 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €7,039 | €8,433 | +€1,394 | +19.8% |
| Income taxes | 67/77 | €2,081 | €2,736 | +€655 | +31.5% |
| Profit (loss) for the period | 9904 | €4,958 | €5,697 | +€739 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,958 | €5,697 | +€739 | +14.9% |
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 30 September 2026 via checked.be.