CASIMAX: 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.
CASIMAX
Largest movements
- Receivables after one year -€142,167
down €142,167 (-20.3%), from €700,860 to €558,693
- Receivables within one year -€86,012
down €86,012 (-36.3%), from €236,727 to €150,715
of which Other amounts receivable: -€91,804
- Tangible fixed assets -€25,753
down €25,753 (-3.1%), from €827,413 to €801,660
of which Land and buildings: -€24,525
- Debts after one year -€169,518
down €169,518 (-18.6%), from €910,848 to €741,330
- Other debts -€64,347
down €64,347 (-33.3%), from €192,995 to €128,648
- Trade debts -€22,329
down €22,329 (-59.7%), from €37,429 to €15,100
- Gross operating margin -€130,817
down €130,817 (-56.5%), from €231,617 to €100,800
- Taxes -€16,395
down €16,395 (-36.5%), from €44,971 to €28,576
- Depreciation +€2,836
up €2,836 (+12.4%), from €22,917 to €25,753
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 | €1,787,742 | €1,544,114 | -€243,628 | -13.6% |
| Fixed assets | 21/28 | €827,413 | €801,660 | -€25,753 | -3.1% |
| Tangible fixed assets | 22/27 | €827,413 | €801,660 | -€25,753 | -3.1% |
| Land and buildings | 22 | €821,325 | €796,800 | -€24,525 | -3.0% |
| Plant, machinery and equipment | 23 | €5,171 | €4,058 | -€1,113 | -21.5% |
| Furniture and vehicles | 24 | €917 | €802 | -€115 | -12.5% |
| Current assets | 29/58 | €960,329 | €742,454 | -€217,875 | -22.7% |
| Amounts receivable after more than one year | 29 | €700,860 | €558,693 | -€142,167 | -20.3% |
| Other amounts receivable | 291 | €700,860 | €558,693 | -€142,167 | -20.3% |
| Amounts receivable within one year | 40/41 | €236,727 | €150,715 | -€86,012 | -36.3% |
| Trade receivables | 40 | - | €5,792 | +€5,792 | |
| Other amounts receivable | 41 | €236,727 | €144,923 | -€91,804 | -38.8% |
| Cash at bank and in hand | 54/58 | €21,472 | €33,046 | +€11,574 | +53.9% |
| Deferred charges and accrued income | 490/1 | €1,270 | - | -€1,270 | |
| Total equity and liabilities | 10/49 | €1,787,742 | €1,544,114 | -€243,628 | -13.6% |
| Equity | 10/15 | €423,530 | €431,680 | +€8,150 | +1.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €158,992 | €176,550 | +€17,558 | +11.0% |
| Non-distributable reserves | 130/1 | €14,697 | - | -€14,697 | |
| Reserves not available under the articles | 1311 | €14,697 | - | -€14,697 | |
| Distributable reserves | 133 | €144,295 | €176,550 | +€32,255 | +22.4% |
| Profit (loss) carried forward | 14 | €14,538 | €5,130 | -€9,408 | -64.7% |
| Amounts payable | 17/49 | €1,364,212 | €1,112,434 | -€251,778 | -18.5% |
| Amounts payable after more than one year | 17 | €910,848 | €741,330 | -€169,518 | -18.6% |
| Financial debts | 170/4 | €910,848 | €741,330 | -€169,518 | -18.6% |
| Amounts payable within one year | 42/48 | €453,364 | €370,115 | -€83,249 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €166,792 | €169,518 | +€2,726 | +1.6% |
| Trade debts | 44 | €37,429 | €15,100 | -€22,329 | -59.7% |
| Suppliers | 440/4 | €37,429 | €15,100 | -€22,329 | -59.7% |
| Taxes, remuneration and social security | 45 | €56,148 | €56,849 | +€701 | +1.2% |
| Taxes | 450/3 | €56,148 | €56,849 | +€701 | +1.2% |
| Other amounts payable | 47/48 | €192,995 | €128,648 | -€64,347 | -33.3% |
| Accrued charges and deferred income | 492/3 | - | €989 | +€989 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,917 | €25,753 | +€2,836 | +12.4% |
| Other operating charges | 640/8 | €16,607 | €17,800 | +€1,193 | +7.2% |
| Non-recurring operating charges | 66A | €229,039 | - | -€229,039 | |
| Gross operating margin | 9900 | €231,617 | €100,800 | -€130,817 | -56.5% |
| Operating profit (loss) | 9901 | -€36,946 | €57,247 | +€94,193 | |
| Financial charges | 65/66B | €20,654 | €20,521 | -€133 | -0.6% |
| Recurring financial charges | 65 | €20,654 | €20,521 | -€133 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | -€57,600 | €36,726 | +€94,326 | |
| Income taxes | 67/77 | €44,971 | €28,576 | -€16,395 | -36.5% |
| Profit (loss) for the period | 9904 | -€102,571 | €8,150 | +€110,721 | |
| Profit (loss) for the period to be appropriated | 9905 | -€102,571 | €8,150 | +€110,721 |
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 18 October 2026 via checked.be.