Casem: 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.
Casem
Largest movements
- Formation expenses -€9,588
down €9,588 (-5.9%), from €162,988 to €153,400
- Cash +€2,808
up €2,808 (+226%), from €1,240 to €4,048
mainly Depreciation (+€9,588) and Net result for the year (+€6,120)
- Receivables within one year +€2,697
up €2,697 (+61.9%), from €4,356 to €7,053
- Other debts -€10,500
down €10,500 (-5.0%), from €209,266 to €198,766
- Reserves +€4,454
up €4,454 (+209%), from €2,130 to €6,584
- Gross operating margin +€2,418
up €2,418 (+15.3%), from €15,844 to €18,262
- Taxes +€709
up €709 (+74.7%), from €949 to €1,658
- Other operating charges +€402
up €402 (+340%), from €118 to €520
- Financial charges +€236
up €236 (+168%), from €141 to €376
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 | €218,584 | €214,501 | -€4,083 | -1.9% |
| Formation expenses | 20 | €162,988 | €153,400 | -€9,588 | -5.9% |
| Fixed assets | 21/28 | €50,000 | €50,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €50,000 | €50,000 | = | 0.0% |
| Land and buildings | 22 | - | €50,000 | +€50,000 | |
| Other tangible fixed assets | 26 | €50,000 | - | -€50,000 | |
| Current assets | 29/58 | €5,596 | €11,101 | +€5,505 | +98.4% |
| Amounts receivable within one year | 40/41 | €4,356 | €7,053 | +€2,697 | +61.9% |
| Trade receivables | 40 | €4,356 | €7,053 | +€2,697 | +61.9% |
| Cash at bank and in hand | 54/58 | €1,240 | €4,048 | +€2,808 | +226% |
| Total equity and liabilities | 10/49 | €218,584 | €214,501 | -€4,083 | -1.9% |
| Equity | 10/15 | €7,130 | €11,584 | +€4,454 | +62.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,130 | €6,584 | +€4,454 | +209% |
| Distributable reserves | 133 | €2,130 | €6,584 | +€4,454 | +209% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €211,454 | €202,917 | -€8,537 | -4.0% |
| Amounts payable within one year | 42/48 | €211,454 | €202,917 | -€8,537 | -4.0% |
| Trade debts | 44 | €21 | €55 | +€34 | +160% |
| Suppliers | 440/4 | €21 | €55 | +€34 | +160% |
| Taxes, remuneration and social security | 45 | €2,167 | €4,097 | +€1,929 | +89.0% |
| Taxes | 450/3 | €2,167 | €4,097 | +€1,929 | +89.0% |
| Other amounts payable | 47/48 | €209,266 | €198,766 | -€10,500 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,588 | €9,588 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340% |
| Gross operating margin | 9900 | €15,844 | €18,262 | +€2,418 | +15.3% |
| Operating profit (loss) | 9901 | €6,138 | €8,155 | +€2,016 | +32.8% |
| Financial charges | 65/66B | €141 | €376 | +€236 | +168% |
| Recurring financial charges | 65 | €141 | €376 | +€236 | +168% |
| Profit (loss) for the period before taxes | 9903 | €5,998 | €7,778 | +€1,781 | +29.7% |
| Income taxes | 67/77 | €949 | €1,658 | +€709 | +74.7% |
| Profit (loss) for the period | 9904 | €5,049 | €6,120 | +€1,072 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,049 | €6,120 | +€1,072 | +21.2% |
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 25 October 2026 via checked.be.