Casimas: 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.
Casimas
Largest movements
- Financial fixed assets +€1.6m
new in 2025: €1.6m
- Tangible fixed assets +€88,850
up €88,850 (+26.7%), from €332,325 to €421,175
of which Land and buildings: +€89,211
- Cash -€46,019
down €46,019 (-69.0%), from €66,735 to €20,717
mainly Investment in fixed assets (net) (-€1.7m) and Smaller working-capital items (-€6,960)
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Debts after one year +€432,280
up €432,280 (+166%), from €261,073 to €693,353
- Other debts +€70,798
new in 2025: €70,798
- Current portion of long-term debt +€62,212
up €62,212 (+531%), from €11,715 to €73,927
- Gross operating margin -€15,661
down €15,661 (-19.7%), from €79,379 to €63,718
- Financial charges +€10,866
up €10,866 (+99.7%), from €10,895 to €21,761
- Depreciation +€3,708
up €3,708 (+49.2%), from €7,540 to €11,248
- Taxes -€3,350
down €3,350 (-26.7%), from €12,567 to €9,217
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 | €417,336 | €2,009,089 | +€1.6m | +381% |
| Fixed assets | 21/28 | €332,325 | €1,971,175 | +€1.6m | +493% |
| Tangible fixed assets | 22/27 | €332,325 | €421,175 | +€88,850 | +26.7% |
| Land and buildings | 22 | €331,688 | €420,899 | +€89,211 | +26.9% |
| Furniture and vehicles | 24 | €637 | €276 | -€361 | -56.7% |
| Financial fixed assets | 28 | - | €1,550,000 | +€1.6m | |
| Current assets | 29/58 | €85,012 | €37,914 | -€47,098 | -55.4% |
| Amounts receivable within one year | 40/41 | €16,710 | €11,993 | -€4,716 | -28.2% |
| Trade receivables | 40 | €14,225 | €11,828 | -€2,397 | -16.9% |
| Other amounts receivable | 41 | €2,485 | €165 | -€2,319 | -93.3% |
| Cash at bank and in hand | 54/58 | €66,735 | €20,717 | -€46,019 | -69.0% |
| Deferred charges and accrued income | 490/1 | €1,567 | €5,204 | +€3,637 | +232% |
| Total equity and liabilities | 10/49 | €417,336 | €2,009,089 | +€1.6m | +381% |
| Equity | 10/15 | €102,077 | €121,677 | +€19,601 | +19.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €98,077 | €117,677 | +€19,601 | +20.0% |
| Distributable reserves | 133 | €98,077 | €117,677 | +€19,601 | +20.0% |
| Amounts payable | 17/49 | €315,259 | €1,887,411 | +€1.6m | +499% |
| Amounts payable after more than one year | 17 | €261,073 | €693,353 | +€432,280 | +166% |
| Financial debts | 170/4 | €261,073 | €693,353 | +€432,280 | +166% |
| Amounts payable within one year | 42/48 | €54,187 | €1,188,283 | +€1.1m | +2,093% |
| Current portion of amounts payable after more than one year | 42 | €11,715 | €73,927 | +€62,212 | +531% |
| Financial debts | 43 | - | €1,000,000 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €3,722 | €8,131 | +€4,409 | +118% |
| Suppliers | 440/4 | €3,722 | €8,131 | +€4,409 | +118% |
| Taxes, remuneration and social security | 45 | €38,749 | €35,427 | -€3,322 | -8.6% |
| Taxes | 450/3 | €38,749 | €32,234 | -€6,515 | -16.8% |
| Remuneration and social security | 454/9 | - | €3,193 | +€3,193 | |
| Other amounts payable | 47/48 | - | €70,798 | +€70,798 | |
| Accrued charges and deferred income | 492/3 | - | €5,775 | +€5,775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,540 | €11,248 | +€3,708 | +49.2% |
| Other operating charges | 640/8 | €1,342 | €1,895 | +€553 | +41.2% |
| Gross operating margin | 9900 | €79,379 | €63,718 | -€15,661 | -19.7% |
| Operating profit (loss) | 9901 | €70,497 | €50,576 | -€19,921 | -28.3% |
| Financial income | 75/76B | €78 | €3 | -€74 | -95.9% |
| Recurring financial income | 75 | €78 | €3 | -€74 | -95.9% |
| Financial charges | 65/66B | €10,895 | €21,761 | +€10,866 | +99.7% |
| Recurring financial charges | 65 | €10,895 | €21,761 | +€10,866 | +99.7% |
| Profit (loss) for the period before taxes | 9903 | €59,680 | €28,818 | -€30,862 | -51.7% |
| Income taxes | 67/77 | €12,567 | €9,217 | -€3,350 | -26.7% |
| Profit (loss) for the period | 9904 | €47,113 | €19,601 | -€27,512 | -58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €47,113 | €19,601 | -€27,512 | -58.4% |
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 13 October 2026 via checked.be.