CASQUE D'OR: 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.
CASQUE D'OR
Largest movements
- Receivables within one year +€328,121
up €328,121 (+158.5%), from €207,070 to €535,191
of which Trade receivables: +€484,605
- Stocks and contracts +€42,948
up €42,948 (+1.7%), from €2.5m to €2.6m
- Debts after one year +€532,112
up €532,112 (+36.1%), from €1.5m to €2.0m
- Current portion of long-term debt -€71,602
down €71,602 (-41.9%), from €170,739 to €99,137
- Trade debts -€45,594
down €45,594 (-30.6%), from €148,904 to €103,310
of which Suppliers: -€46,648
- Profit (loss) carried forward -€38,584
down €38,584 (-4.1%), from €942,641 to €904,057
- Financial charges +€42,207
up €42,207 (+62.7%), from €67,350 to €109,557
- Gross operating margin +€11,029
up €11,029 (+4.4%), from €251,179 to €262,208
- Taxes -€6,417
down €6,417 (-61.4%), from €10,444 to €4,027
- Other operating charges -€5,084
down €5,084 (-83.4%), from €6,096 to €1,012
- Staff costs +€4,715
up €4,715 (+4.7%), from €101,202 to €105,917
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 | €3,097,887 | €3,446,067 | +€348,180 | +11.2% |
| Fixed assets | 21/28 | €65,212 | €45,411 | -€19,801 | -30.4% |
| Tangible fixed assets | 22/27 | €64,212 | €44,411 | -€19,801 | -30.8% |
| Land and buildings | 22 | €59,329 | €32,632 | -€26,697 | -45.0% |
| Furniture and vehicles | 24 | €4,883 | €11,779 | +€6,896 | +141.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €3,032,675 | €3,400,656 | +€367,981 | +12.1% |
| Amounts receivable after more than one year | 29 | €270,000 | €270,000 | = | 0.0% |
| Trade receivables | 290 | €270,000 | €270,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,509,956 | €2,552,904 | +€42,948 | +1.7% |
| Stocks | 30/36 | €2,509,956 | €2,552,904 | +€42,948 | +1.7% |
| Amounts receivable within one year | 40/41 | €207,070 | €535,191 | +€328,121 | +158.5% |
| Trade receivables | 40 | €47,703 | €532,308 | +€484,605 | +1015.9% |
| Other amounts receivable | 41 | €159,367 | €2,883 | -€156,484 | -98.2% |
| Cash at bank and in hand | 54/58 | €45,649 | €42,561 | -€3,088 | -6.8% |
| Total equity and liabilities | 10/49 | €3,097,887 | €3,446,067 | +€348,180 | +11.2% |
| Equity | 10/15 | €961,341 | €922,757 | -€38,584 | -4.0% |
| Contributions | 10/11 | €18,700 | €18,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €942,641 | €904,057 | -€38,584 | -4.1% |
| Amounts payable | 17/49 | €2,136,546 | €2,523,310 | +€386,764 | +18.1% |
| Amounts payable after more than one year | 17 | €1,473,387 | €2,005,499 | +€532,112 | +36.1% |
| Financial debts | 170/4 | €1,473,387 | €2,005,499 | +€532,112 | +36.1% |
| Amounts payable within one year | 42/48 | €663,159 | €517,811 | -€145,348 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €170,739 | €99,137 | -€71,602 | -41.9% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €148,904 | €103,310 | -€45,594 | -30.6% |
| Suppliers | 440/4 | €148,904 | €102,256 | -€46,648 | -31.3% |
| Bills of exchange payable | 441 | - | €1,054 | +€1,054 | |
| Taxes, remuneration and social security | 45 | €37,922 | €14,449 | -€23,473 | -61.9% |
| Taxes | 450/3 | €27,591 | €4,027 | -€23,564 | -85.4% |
| Remuneration and social security | 454/9 | €10,331 | €10,422 | +€91 | +0.9% |
| Other amounts payable | 47/48 | €5,594 | €915 | -€4,679 | -83.6% |
| Non-recurring operating income | 76A | €8,081 | €601 | -€7,480 | -92.6% |
| Remuneration, social security and pensions | 62 | €101,202 | €105,917 | +€4,715 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,110 | €40,692 | +€4,582 | +12.7% |
| Other operating charges | 640/8 | €6,096 | €1,012 | -€5,084 | -83.4% |
| Gross operating margin | 9900 | €251,179 | €262,208 | +€11,029 | +4.4% |
| Operating profit (loss) | 9901 | €107,771 | €114,587 | +€6,816 | +6.3% |
| Financial income | 75/76B | €303 | €413 | +€110 | +36.3% |
| Recurring financial income | 75 | €303 | €413 | +€110 | +36.3% |
| Financial charges | 65/66B | €67,350 | €109,557 | +€42,207 | +62.7% |
| Recurring financial charges | 65 | €67,350 | €109,557 | +€42,207 | +62.7% |
| Profit (loss) for the period before taxes | 9903 | €40,724 | €5,443 | -€35,281 | -86.6% |
| Income taxes | 67/77 | €10,444 | €4,027 | -€6,417 | -61.4% |
| Profit (loss) for the period | 9904 | €30,280 | €1,416 | -€28,864 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,280 | €1,416 | -€28,864 | -95.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.