CASK': what changed
Two fiscal 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.
CASK'
Largest movements
- Tangible fixed assets +€200,259
up €200,259 (+101.8%), from €196,680 to €396,939
- Receivables within one year -€13,411
down €13,411 (-27.4%), from €48,940 to €35,530
of which Trade receivables: -€13,411
- Receivables after one year -€12,670
down €12,670 (-17.6%), from €72,148 to €59,478
- Debts after one year +€127,111
new in 2025: €127,111
- Other debts +€36,827
up €36,827 (+13.8%), from €266,075 to €302,902
- Current portion of long-term debt +€13,239
new in 2025: €13,239
- Trade debts -€7,677
down €7,677 (-57.3%), from €13,392 to €5,714
- Gross operating margin +€13,254
up €13,254 (+98.3%), from €13,483 to €26,737
- Financial charges +€5,330
up €5,330 (+533.9%), from €998 to €6,328
- Depreciation +€4,230
up €4,230 (+42.1%), from €10,053 to €14,283
- Other operating charges +€2,759
up €2,759 (+103.4%), from €2,668 to €5,427
- Financial income +€2,085
up €2,085 (+599.8%), from €348 to €2,433
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.
Cash bridge derived
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 | €422,255 | €595,345 | +€173,090 | +41.0% |
| Fixed assets | 21/28 | €196,680 | €396,939 | +€200,259 | +101.8% |
| Tangible fixed assets | 22/27 | €196,680 | €396,939 | +€200,259 | +101.8% |
| Land and buildings | 22 | €196,680 | €396,939 | +€200,259 | +101.8% |
| Current assets | 29/58 | €225,575 | €198,405 | -€27,170 | -12.0% |
| Amounts receivable after more than one year | 29 | €72,148 | €59,478 | -€12,670 | -17.6% |
| Other amounts receivable | 291 | €72,148 | €59,478 | -€12,670 | -17.6% |
| Amounts receivable within one year | 40/41 | €48,940 | €35,530 | -€13,411 | -27.4% |
| Trade receivables | 40 | €20,367 | €6,957 | -€13,411 | -65.8% |
| Other amounts receivable | 41 | €28,573 | €28,573 | = | 0.0% |
| Current investments | 50/53 | €80,000 | €85,000 | +€5,000 | +6.3% |
| Cash at bank and in hand | 54/58 | €22,634 | €17,286 | -€5,348 | -23.6% |
| Deferred charges and accrued income | 490/1 | €1,853 | €1,112 | -€741 | -40.0% |
| Total equity and liabilities | 10/49 | €422,255 | €595,345 | +€173,090 | +41.0% |
| Equity | 10/15 | €134,851 | €136,271 | +€1,420 | +1.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €86,017 | €86,017 | = | 0.0% |
| Distributable reserves | 133 | €86,017 | €86,017 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,834 | €30,254 | +€1,420 | +4.9% |
| Amounts payable | 17/49 | €287,404 | €459,074 | +€171,669 | +59.7% |
| Amounts payable after more than one year | 17 | - | €127,111 | +€127,111 | |
| Financial debts | 170/4 | - | €127,111 | +€127,111 | |
| Amounts payable within one year | 42/48 | €283,554 | €327,485 | +€43,930 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | - | €13,239 | +€13,239 | |
| Trade debts | 44 | €13,392 | €5,714 | -€7,677 | -57.3% |
| Suppliers | 440/4 | €13,392 | €5,714 | -€7,677 | -57.3% |
| Taxes, remuneration and social security | 45 | €4,088 | €5,629 | +€1,541 | +37.7% |
| Taxes | 450/3 | €640 | €981 | +€341 | +53.3% |
| Remuneration and social security | 454/9 | €3,448 | €4,648 | +€1,200 | +34.8% |
| Other amounts payable | 47/48 | €266,075 | €302,902 | +€36,827 | +13.8% |
| Accrued charges and deferred income | 492/3 | €3,850 | €4,478 | +€628 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,053 | €14,283 | +€4,230 | +42.1% |
| Other operating charges | 640/8 | €2,668 | €5,427 | +€2,759 | +103.4% |
| Gross operating margin | 9900 | €13,483 | €26,737 | +€13,254 | +98.3% |
| Operating profit (loss) | 9901 | €762 | €7,026 | +€6,264 | +821.6% |
| Financial income | 75/76B | €348 | €2,433 | +€2,085 | +599.8% |
| Recurring financial income | 75 | €348 | €2,433 | +€2,085 | +599.8% |
| Financial charges | 65/66B | €998 | €6,328 | +€5,330 | +533.9% |
| Recurring financial charges | 65 | €998 | €6,328 | +€5,330 | +533.9% |
| Profit (loss) for the period before taxes | 9903 | €112 | €3,131 | +€3,019 | +2702.3% |
| Income taxes | 67/77 | €667 | €1,710 | +€1,043 | +156.5% |
| Profit (loss) for the period | 9904 | -€555 | €1,420 | +€1,975 | |
| Profit (loss) for the period to be appropriated | 9905 | -€555 | €1,420 | +€1,975 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.