CASI: what changed
CASI
Largest movements
- Tangible fixed assets -€9,350
down €9,350 (-37.3%), from €25,066 to €15,716
of which Plant, machinery and equipment: -€6,447
- Cash +€3,518
up €3,518 (+4.4%), from €79,106 to €82,624
mainly Net result for the year (+€72,954) and Depreciation (+€9,350)
- Receivables within one year -€2,092
down €2,092 (-19.7%), from €10,631 to €8,539
of which Trade receivables: -€7,264
- Reserves +€66,954
up €66,954 (+589%), from €11,361 to €78,315
- Other debts -€58,087
down €58,087 (-78.5%), from €74,029 to €15,942
- Tax, wage and social debts -€11,785
down €11,785 (-46.4%), from €25,395 to €13,610
of which Taxes: -€13,482
- Trade debts -€3,052
down €3,052 (-32.7%), from €9,343 to €6,291
- Gross operating margin -€33,750
down €33,750 (-21.3%), from €158,165 to €124,416
- Taxes -€13,346
down €13,346 (-40.6%), from €32,888 to €19,542
- Staff costs -€2,729
down €2,729 (-13.4%), from €20,348 to €17,619
- Other operating charges +€2,146
up €2,146 (+83.4%), from €2,575 to €4,722
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,446 | €116,659 | -€6,787 | -5.5% |
| Fixed assets | 21/28 | €29,889 | €20,539 | -€9,350 | -31.3% |
| Tangible fixed assets | 22/27 | €25,066 | €15,716 | -€9,350 | -37.3% |
| Plant, machinery and equipment | 23 | €10,311 | €3,865 | -€6,447 | -62.5% |
| Furniture and vehicles | 24 | €1,601 | €1,254 | -€348 | -21.7% |
| Other tangible fixed assets | 26 | €13,153 | €10,598 | -€2,555 | -19.4% |
| Financial fixed assets | 28 | €4,823 | €4,823 | = | 0.0% |
| Current assets | 29/58 | €93,557 | €96,120 | +€2,563 | +2.7% |
| Stocks and contracts in progress | 3 | €3,820 | €3,770 | -€50 | -1.3% |
| Stocks | 30/36 | €3,820 | €3,770 | -€50 | -1.3% |
| Amounts receivable within one year | 40/41 | €10,631 | €8,539 | -€2,092 | -19.7% |
| Trade receivables | 40 | €7,264 | €0 | -€7,264 | -100% |
| Other amounts receivable | 41 | €3,367 | €8,539 | +€5,172 | +154% |
| Cash at bank and in hand | 54/58 | €79,106 | €82,624 | +€3,518 | +4.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,188 | +€1,188 | |
| Total equity and liabilities | 10/49 | €123,446 | €116,659 | -€6,787 | -5.5% |
| Equity | 10/15 | €13,861 | €80,815 | +€66,954 | +483% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,361 | €78,315 | +€66,954 | +589% |
| Distributable reserves | 133 | €11,361 | €78,315 | +€66,954 | +589% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €109,584 | €35,844 | -€73,741 | -67.3% |
| Amounts payable within one year | 42/48 | €108,767 | €35,844 | -€72,923 | -67.0% |
| Trade debts | 44 | €9,343 | €6,291 | -€3,052 | -32.7% |
| Suppliers | 440/4 | €9,343 | €6,291 | -€3,052 | -32.7% |
| Taxes, remuneration and social security | 45 | €25,395 | €13,610 | -€11,785 | -46.4% |
| Taxes | 450/3 | €22,220 | €8,738 | -€13,482 | -60.7% |
| Remuneration and social security | 454/9 | €3,175 | €4,872 | +€1,697 | +53.5% |
| Other amounts payable | 47/48 | €74,029 | €15,942 | -€58,087 | -78.5% |
| Accrued charges and deferred income | 492/3 | €818 | €0 | -€818 | -100% |
| Remuneration, social security and pensions | 62 | €20,348 | €17,619 | -€2,729 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,245 | €9,350 | +€105 | +1.1% |
| Other operating charges | 640/8 | €2,575 | €4,722 | +€2,146 | +83.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €158,165 | €124,416 | -€33,750 | -21.3% |
| Operating profit (loss) | 9901 | €125,997 | €92,725 | -€33,272 | -26.4% |
| Financial income | 75/76B | €192 | €24 | -€168 | -87.6% |
| Recurring financial income | 75 | €192 | €24 | -€168 | -87.6% |
| Financial charges | 65/66B | €87 | €253 | +€167 | +192% |
| Recurring financial charges | 65 | €87 | €253 | +€167 | +192% |
| Profit (loss) for the period before taxes | 9903 | €126,103 | €92,496 | -€33,607 | -26.7% |
| Income taxes | 67/77 | €32,888 | €19,542 | -€13,346 | -40.6% |
| Profit (loss) for the period | 9904 | €93,215 | €72,954 | -€20,261 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €93,215 | €72,954 | -€20,261 | -21.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.