CASSELBERGH DEVELOPMENT: 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.
CASSELBERGH DEVELOPMENT
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-91.8%), from €1.2m to €98,067
of which Trade receivables: -€1.2m
- Tangible fixed assets +€921,069
up €921,069 (+41.8%), from €2.2m to €3.1m
- Cash -€237,605
down €237,605 (-79.7%), from €298,026 to €60,421
mainly Investment in fixed assets (net) (-€1.0m) and Tax, wage and social debts (-€255,592)
- Tax, wage and social debts -€255,592
down €255,592 (-100%), from €255,592 to €0
- Debts after one year -€143,010
down €143,010 (-11.2%), from €1.3m to €1.1m
- Reserves -€47,750
down €47,750 (-21.9%), from €217,953 to €170,203
- Depreciation +€62,849
up €62,849 (+148%), from €42,531 to €105,380
- Turnover +€26,064
up €26,064 (+36.3%), from €71,841 to €97,905
- Financial income +€10,383
up €10,383 (+114%), from €9,102 to €19,485
- Financial charges +€7,096
up €7,096 (+27.5%), from €25,798 to €32,895
- Other operating charges +€6,298
up €6,298 (+127%), from €4,971 to €11,268
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 | €4,329,699 | €3,883,213 | -€446,486 | -10.3% |
| Fixed assets | 21/28 | €2,203,656 | €3,124,725 | +€921,069 | +41.8% |
| Tangible fixed assets | 22/27 | €2,203,656 | €3,124,725 | +€921,069 | +41.8% |
| Land and buildings | 22 | €2,203,656 | €3,124,725 | +€921,069 | +41.8% |
| Current assets | 29/58 | €2,126,043 | €758,488 | -€1.4m | -64.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,203,017 | €98,067 | -€1.1m | -91.8% |
| Trade receivables | 40 | €1,200,000 | €25,927 | -€1.2m | -97.8% |
| Other amounts receivable | 41 | €3,017 | €72,140 | +€69,123 | +2,291% |
| Current investments | 50/53 | €625,000 | €600,000 | -€25,000 | -4.0% |
| Other investments | 51/53 | €625,000 | €600,000 | -€25,000 | -4.0% |
| Cash at bank and in hand | 54/58 | €298,026 | €60,421 | -€237,605 | -79.7% |
| Total equity and liabilities | 10/49 | €4,329,699 | €3,883,213 | -€446,486 | -10.3% |
| Equity | 10/15 | €667,953 | €620,203 | -€47,750 | -7.1% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €217,953 | €170,203 | -€47,750 | -21.9% |
| Distributable reserves | 133 | €217,953 | €170,203 | -€47,750 | -21.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,661,746 | €3,263,010 | -€398,736 | -10.9% |
| Amounts payable after more than one year | 17 | €1,281,230 | €1,138,220 | -€143,010 | -11.2% |
| Financial debts | 170/4 | €1,281,230 | €1,138,220 | -€143,010 | -11.2% |
| Credit institutions | 173 | €1,281,230 | €1,138,220 | -€143,010 | -11.2% |
| Amounts payable within one year | 42/48 | €2,380,516 | €2,124,790 | -€255,726 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €139,625 | €143,010 | +€3,386 | +2.4% |
| Trade debts | 44 | €5,299 | €1,779 | -€3,519 | -66.4% |
| Suppliers | 440/4 | €5,299 | €1,779 | -€3,519 | -66.4% |
| Taxes, remuneration and social security | 45 | €255,592 | €0 | -€255,592 | -100% |
| Taxes | 450/3 | €255,592 | €0 | -€255,592 | -100% |
| Other amounts payable | 47/48 | €1,980,000 | €1,980,000 | = | 0.0% |
| Operating income | 70/76A | €448,746 | €97,905 | -€350,841 | -78.2% |
| Turnover | 70 | €71,841 | €97,905 | +€26,064 | +36.3% |
| Non-recurring operating income | 76A | €376,905 | €0 | -€376,905 | -100% |
| Operating charges | 60/66A | €59,969 | €132,245 | +€72,277 | +121% |
| Goods for resale, raw materials and consumables | 60 | €32 | €0 | -€32 | -100% |
| Purchases | 600/8 | €32 | €0 | -€32 | -100% |
| Services and other goods | 61 | €12,434 | €15,597 | +€3,163 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,531 | €105,380 | +€62,849 | +148% |
| Other operating charges | 640/8 | €4,971 | €11,268 | +€6,298 | +127% |
| Operating profit (loss) | 9901 | €388,777 | -€34,340 | -€423,117 | |
| Financial income | 75/76B | €9,102 | €19,485 | +€10,383 | +114% |
| Recurring financial income | 75 | €9,102 | €19,485 | +€10,383 | +114% |
| Income from current assets | 751 | - | €19,485 | +€19,485 | |
| Other financial income | 752/9 | €9,102 | €0 | -€9,102 | -100% |
| Financial charges | 65/66B | €25,798 | €32,895 | +€7,096 | +27.5% |
| Recurring financial charges | 65 | €25,798 | €32,895 | +€7,096 | +27.5% |
| Debt charges | 650 | €22,771 | €32,759 | +€9,987 | +43.9% |
| Other financial charges | 652/9 | €3,027 | €136 | -€2,891 | -95.5% |
| Profit (loss) for the period before taxes | 9903 | €372,081 | -€47,750 | -€419,831 | |
| Profit (loss) for the period | 9904 | €372,081 | -€47,750 | -€419,831 | |
| Profit (loss) for the period to be appropriated | 9905 | €372,081 | -€47,750 | -€419,831 |
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 16 October 2026 via checked.be.