CASEUS: 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.
CASEUS
Largest movements
- Tangible fixed assets +€132,270
up €132,270 (+244%), from €54,147 to €186,417
of which Land and buildings: +€132,673
- Cash -€64,350
down €64,350 (-53.9%), from €119,365 to €55,015
mainly Investment in fixed assets (net) (-€148,833) and Receivables within one year (-€34,974)
- Receivables within one year +€34,974
up €34,974 (+107%), from €32,792 to €67,766
of which Trade receivables: +€34,319
- Deferred charges and accrued income +€9,996
up €9,996 (+1,958%), from €511 to €10,507
- Receivables after one year -€7,741
down €7,741 (-25.2%), from €30,771 to €23,029
- Other debts +€57,420
up €57,420 (+92.1%), from €62,341 to €119,761
- Debts after one year +€39,885
up €39,885 (+63.4%), from €62,912 to €102,797
- Tax, wage and social debts +€18,109
up €18,109 (+43.5%), from €41,659 to €59,769
of which Remuneration and social security: +€15,497
- Profit (loss) carried forward -€15,004
down €15,004 (-195%), from -€7,678 to -€22,681
- Current portion of long-term debt +€11,687
up €11,687 (+32.5%), from €35,992 to €47,679
- Staff costs +€49,226
up €49,226 (+24.0%), from €205,213 to €254,438
- Depreciation +€6,718
up €6,718 (+68.2%), from €9,845 to €16,563
- Other operating charges -€5,584
down €5,584 (-46.8%), from €11,943 to €6,358
- Gross operating margin -€3,771
down €3,771 (-1.4%), from €273,279 to €269,509
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 | €318,459 | €427,312 | +€108,854 | +34.2% |
| Fixed assets | 21/28 | €58,197 | €190,467 | +€132,270 | +227% |
| Tangible fixed assets | 22/27 | €54,147 | €186,417 | +€132,270 | +244% |
| Land and buildings | 22 | - | €132,673 | +€132,673 | |
| Plant, machinery and equipment | 23 | €27,888 | €32,163 | +€4,275 | +15.3% |
| Furniture and vehicles | 24 | €331 | €823 | +€492 | +148% |
| Other tangible fixed assets | 26 | €25,928 | €20,758 | -€5,170 | -19.9% |
| Financial fixed assets | 28 | €4,050 | €4,050 | = | 0.0% |
| Current assets | 29/58 | €260,262 | €236,845 | -€23,416 | -9.0% |
| Amounts receivable after more than one year | 29 | €30,771 | €23,029 | -€7,741 | -25.2% |
| Trade receivables | 290 | €30,771 | €23,029 | -€7,741 | -25.2% |
| Stocks and contracts in progress | 3 | €76,824 | €80,529 | +€3,705 | +4.8% |
| Stocks | 30/36 | €76,824 | €80,529 | +€3,705 | +4.8% |
| Amounts receivable within one year | 40/41 | €32,792 | €67,766 | +€34,974 | +107% |
| Trade receivables | 40 | €31,547 | €65,866 | +€34,319 | +109% |
| Other amounts receivable | 41 | €1,245 | €1,900 | +€655 | +52.6% |
| Cash at bank and in hand | 54/58 | €119,365 | €55,015 | -€64,350 | -53.9% |
| Deferred charges and accrued income | 490/1 | €511 | €10,507 | +€9,996 | +1,958% |
| Total equity and liabilities | 10/49 | €318,459 | €427,312 | +€108,854 | +34.2% |
| Equity | 10/15 | €10,922 | -€4,081 | -€15,004 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,678 | -€22,681 | -€15,004 | -195% |
| Amounts payable | 17/49 | €307,536 | €431,393 | +€123,857 | +40.3% |
| Amounts payable after more than one year | 17 | €62,912 | €102,797 | +€39,885 | +63.4% |
| Financial debts | 170/4 | €62,912 | €102,797 | +€39,885 | +63.4% |
| Amounts payable within one year | 42/48 | €244,625 | €328,597 | +€83,972 | +34.3% |
| Current portion of amounts payable after more than one year | 42 | €35,992 | €47,679 | +€11,687 | +32.5% |
| Trade debts | 44 | €104,632 | €101,388 | -€3,244 | -3.1% |
| Suppliers | 440/4 | €104,632 | €101,388 | -€3,244 | -3.1% |
| Taxes, remuneration and social security | 45 | €41,659 | €59,769 | +€18,109 | +43.5% |
| Taxes | 450/3 | €13,392 | €16,005 | +€2,613 | +19.5% |
| Remuneration and social security | 454/9 | €28,267 | €43,764 | +€15,497 | +54.8% |
| Other amounts payable | 47/48 | €62,341 | €119,761 | +€57,420 | +92.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €205,213 | €254,438 | +€49,226 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,845 | €16,563 | +€6,718 | +68.2% |
| Other operating charges | 640/8 | €11,943 | €6,358 | -€5,584 | -46.8% |
| Gross operating margin | 9900 | €273,279 | €269,509 | -€3,771 | -1.4% |
| Operating profit (loss) | 9901 | €46,278 | -€7,851 | -€54,130 | |
| Financial income | 75/76B | €2,227 | €2,167 | -€59 | -2.7% |
| Recurring financial income | 75 | €2,227 | €2,167 | -€59 | -2.7% |
| Financial charges | 65/66B | €8,137 | €9,179 | +€1,042 | +12.8% |
| Recurring financial charges | 65 | €8,137 | €9,179 | +€1,042 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €40,368 | -€14,863 | -€55,231 | |
| Income taxes | 67/77 | €2,659 | €141 | -€2,518 | -94.7% |
| Profit (loss) for the period | 9904 | €37,710 | -€15,004 | -€52,713 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,710 | -€15,004 | -€52,713 |
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 20 October 2026 via checked.be.