CASSIAN GERMIS: 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.
CASSIAN GERMIS
Largest movements
- Tangible fixed assets -€16,850
down €16,850 (-28.9%), from €58,305 to €41,455
- Debts after one year -€15,096
down €15,096 (-38.8%), from €38,879 to €23,782
- Short-term financial debts +€9,632
new in 2025: €9,632
- Accrued charges and deferred income -€8,995
down €8,995 (-97.8%), from €9,195 to €200
- Tax, wage and social debts -€8,180
down €8,180 (-37.4%), from €21,882 to €13,702
of which Taxes: -€11,026
- Reserves +€4,691
up €4,691 (+2.4%), from €193,509 to €198,201
of which Distributable reserves: +€4,691
- Financial income +€5,096
up €5,096 (+70.4%), from €7,237 to €12,333
- Financial charges -€3,245
down €3,245 (-57.9%), from €5,608 to €2,363
- Gross operating margin -€1,993
down €1,993 (-3.0%), from €67,210 to €65,217
- Taxes +€819
up €819 (+6.8%), from €11,976 to €12,794
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 | €297,568 | €283,563 | -€14,005 | -4.7% |
| Fixed assets | 21/28 | €58,305 | €41,455 | -€16,850 | -28.9% |
| Tangible fixed assets | 22/27 | €58,305 | €41,455 | -€16,850 | -28.9% |
| Furniture and vehicles | 24 | €58,305 | €41,455 | -€16,850 | -28.9% |
| Current assets | 29/58 | €239,263 | €242,108 | +€2,845 | +1.2% |
| Amounts receivable after more than one year | 29 | €14,681 | €14,681 | = | 0.0% |
| Other amounts receivable | 291 | €14,681 | €14,681 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €215,194 | €217,911 | +€2,717 | +1.3% |
| Trade receivables | 40 | €27,761 | €30,662 | +€2,901 | +10.5% |
| Other amounts receivable | 41 | €187,433 | €187,249 | -€184 | -0.1% |
| Cash at bank and in hand | 54/58 | €7,719 | €7,552 | -€167 | -2.2% |
| Deferred charges and accrued income | 490/1 | €1,669 | €1,964 | +€294 | +17.6% |
| Total equity and liabilities | 10/49 | €297,568 | €283,563 | -€14,005 | -4.7% |
| Equity | 10/15 | €212,109 | €216,801 | +€4,691 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €193,509 | €198,201 | +€4,691 | +2.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €191,649 | €196,341 | +€4,691 | +2.4% |
| Amounts payable | 17/49 | €85,459 | €66,763 | -€18,696 | -21.9% |
| Amounts payable after more than one year | 17 | €38,879 | €23,782 | -€15,096 | -38.8% |
| Financial debts | 170/4 | €38,879 | €23,782 | -€15,096 | -38.8% |
| Amounts payable within one year | 42/48 | €37,385 | €42,781 | +€5,396 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €14,516 | €15,096 | +€580 | +4.0% |
| Financial debts | 43 | - | €9,632 | +€9,632 | |
| Credit institutions | 430/8 | - | €9,632 | +€9,632 | |
| Trade debts | 44 | €987 | €4,350 | +€3,363 | +340.7% |
| Suppliers | 440/4 | €987 | €4,350 | +€3,363 | +340.7% |
| Taxes, remuneration and social security | 45 | €21,882 | €13,702 | -€8,180 | -37.4% |
| Taxes | 450/3 | €21,882 | €10,856 | -€11,026 | -50.4% |
| Remuneration and social security | 454/9 | - | €2,846 | +€2,846 | |
| Accrued charges and deferred income | 492/3 | €9,195 | €200 | -€8,995 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,850 | €16,850 | = | 0.0% |
| Other operating charges | 640/8 | €1,544 | €1,322 | -€222 | -14.4% |
| Gross operating margin | 9900 | €67,210 | €65,217 | -€1,993 | -3.0% |
| Operating profit (loss) | 9901 | €48,816 | €47,045 | -€1,771 | -3.6% |
| Financial income | 75/76B | €7,237 | €12,333 | +€5,096 | +70.4% |
| Recurring financial income | 75 | €7,237 | €12,333 | +€5,096 | +70.4% |
| Financial charges | 65/66B | €5,608 | €2,363 | -€3,245 | -57.9% |
| Recurring financial charges | 65 | €5,608 | €2,363 | -€3,245 | -57.9% |
| Profit (loss) for the period before taxes | 9903 | €50,446 | €57,015 | +€6,569 | +13.0% |
| Income taxes | 67/77 | €11,976 | €12,794 | +€819 | +6.8% |
| Profit (loss) for the period | 9904 | €38,470 | €44,221 | +€5,750 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,470 | €44,221 | +€5,750 | +14.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.