Cassco: 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.
Cassco
Largest movements
- Cash +€1.7m
up €1.7m (+1095.1%), from €154,715 to €1.8m
mainly Short-term financial debts (+€2.0m) and Accrued charges and deferred income (+€528,170)
- Financial fixed assets +€825,000
up €825,000 (+20.3%), from €4.1m to €4.9m
- Receivables within one year +€674,855
up €674,855 (+313.7%), from €215,106 to €889,961
of which Trade receivables: +€583,833
- Short-term financial debts +€2.0m
up €2.0m (+157.5%), from €1.3m to €3.3m
- Accrued charges and deferred income +€528,170
up €528,170 (+17606.1%), from €3,000 to €531,170
- Debts after one year +€467,962
up €467,962 (+14.5%), from €3.2m to €3.7m
- Trade debts +€209,647
up €209,647 (+322.8%), from €64,949 to €274,596
- Gross operating margin -€115,790
down €115,790 (-33.3%), from €347,761 to €231,971
- Depreciation +€13,340
up €13,340 (+71.4%), from €18,676 to €32,016
- Financial charges +€8,122
up €8,122 (+4.2%), from €192,678 to €200,800
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 | €4,571,225 | €7,738,909 | +€3.2m | +69.3% |
| Fixed assets | 21/28 | €4,201,403 | €4,994,387 | +€792,984 | +18.9% |
| Tangible fixed assets | 22/27 | €141,403 | €109,387 | -€32,016 | -22.6% |
| Furniture and vehicles | 24 | €141,403 | €109,387 | -€32,016 | -22.6% |
| Financial fixed assets | 28 | €4,060,000 | €4,885,000 | +€825,000 | +20.3% |
| Current assets | 29/58 | €369,822 | €2,744,522 | +€2.4m | +642.1% |
| Amounts receivable within one year | 40/41 | €215,106 | €889,961 | +€674,855 | +313.7% |
| Trade receivables | 40 | €127,940 | €711,773 | +€583,833 | +456.3% |
| Other amounts receivable | 41 | €87,166 | €178,188 | +€91,022 | +104.4% |
| Cash at bank and in hand | 54/58 | €154,715 | €1,848,945 | +€1.7m | +1095.1% |
| Deferred charges and accrued income | 490/1 | - | €5,615 | +€5,615 | |
| Total equity and liabilities | 10/49 | €4,571,225 | €7,738,909 | +€3.2m | +69.3% |
| Equity | 10/15 | -€29,335 | -€28,359 | +€976 | +3.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €20,388 | €20,388 | = | 0.0% |
| Distributable reserves | 133 | €20,388 | €20,388 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,724 | -€68,747 | +€976 | +1.4% |
| Amounts payable | 17/49 | €4,600,560 | €7,767,268 | +€3.2m | +68.8% |
| Amounts payable after more than one year | 17 | €3,223,178 | €3,691,140 | +€467,962 | +14.5% |
| Financial debts | 170/4 | €3,223,178 | €3,691,140 | +€467,962 | +14.5% |
| Amounts payable within one year | 42/48 | €1,374,382 | €3,544,958 | +€2.2m | +157.9% |
| Financial debts | 43 | €1,270,000 | €3,270,000 | +€2.0m | +157.5% |
| Credit institutions | 430/8 | €1,270,000 | €3,270,000 | +€2.0m | +157.5% |
| Trade debts | 44 | €64,949 | €274,596 | +€209,647 | +322.8% |
| Suppliers | 440/4 | €64,949 | €274,596 | +€209,647 | +322.8% |
| Taxes, remuneration and social security | 45 | €39,433 | €362 | -€39,071 | -99.1% |
| Taxes | 450/3 | €39,433 | €362 | -€39,071 | -99.1% |
| Accrued charges and deferred income | 492/3 | €3,000 | €531,170 | +€528,170 | +17606.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,676 | €32,016 | +€13,340 | +71.4% |
| Other operating charges | 640/8 | €1,286 | €1,118 | -€167 | -13.0% |
| Gross operating margin | 9900 | €347,761 | €231,971 | -€115,790 | -33.3% |
| Operating profit (loss) | 9901 | €327,800 | €198,837 | -€128,963 | -39.3% |
| Financial income | 75/76B | €4,151 | €3,553 | -€597 | -14.4% |
| Recurring financial income | 75 | €4,151 | €3,553 | -€597 | -14.4% |
| Financial charges | 65/66B | €192,678 | €200,800 | +€8,122 | +4.2% |
| Recurring financial charges | 65 | €192,678 | €200,800 | +€8,122 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €139,272 | €1,590 | -€137,682 | -98.9% |
| Income taxes | 67/77 | €362 | €614 | +€252 | +69.6% |
| Profit (loss) for the period | 9904 | €138,911 | €976 | -€137,934 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €138,911 | €976 | -€137,934 | -99.3% |
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.