CASSINI: 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.
CASSINI
Largest movements
- Receivables within one year -€2.6m
down €2.6m (-98.5%), from €2.6m to €38,670
- Other debts -€2.4m
down €2.4m (-90.1%), from €2.6m to €258,672
- Profit (loss) carried forward -€244,734
down €244,734 (-1.8%), from €13.8m to €13.6m
- Financial income -€1.6m
down €1.6m (-40.4%), from €3.9m to €2.3m
- Depreciation -€75,967
no longer reported in 2025 (was €75,967)
- Gross operating margin -€39,223
down €39,223 (-9.4%), from €417,037 to €377,814
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 | €16,435,393 | €13,840,284 | -€2.6m | -15.8% |
| Fixed assets | 21/28 | €13,799,777 | €13,799,777 | = | 0.0% |
| Financial fixed assets | 28 | €13,799,777 | €13,799,777 | = | 0.0% |
| Current assets | 29/58 | €2,635,616 | €40,507 | -€2.6m | -98.5% |
| Amounts receivable within one year | 40/41 | €2,633,744 | €38,670 | -€2.6m | -98.5% |
| Other amounts receivable | 41 | €2,633,744 | €38,670 | -€2.6m | -98.5% |
| Cash at bank and in hand | 54/58 | €370 | €335 | -€35 | -9.5% |
| Deferred charges and accrued income | 490/1 | €1,502 | €1,502 | = | 0.0% |
| Total equity and liabilities | 10/49 | €16,435,393 | €13,840,284 | -€2.6m | -15.8% |
| Equity | 10/15 | €13,812,348 | €13,567,614 | -€244,734 | -1.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,809,348 | €13,564,614 | -€244,734 | -1.8% |
| Amounts payable | 17/49 | €2,623,045 | €272,670 | -€2.4m | -89.6% |
| Amounts payable within one year | 42/48 | €2,623,045 | €272,670 | -€2.4m | -89.6% |
| Trade debts | 44 | €9,455 | €13,998 | +€4,543 | +48.0% |
| Suppliers | 440/4 | €9,455 | €13,998 | +€4,543 | +48.0% |
| Other amounts payable | 47/48 | €2,613,590 | €258,672 | -€2.4m | -90.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,967 | - | -€75,967 | |
| Other operating charges | 640/8 | €968 | €998 | +€30 | +3.1% |
| Gross operating margin | 9900 | €417,037 | €377,814 | -€39,223 | -9.4% |
| Operating profit (loss) | 9901 | €340,102 | €376,816 | +€36,714 | +10.8% |
| Financial income | 75/76B | €3,858,932 | €2,299,912 | -€1.6m | -40.4% |
| Recurring financial income | 75 | €3,858,932 | €2,299,912 | -€1.6m | -40.4% |
| Financial charges | 65/66B | €2,161 | €2,790 | +€629 | +29.1% |
| Recurring financial charges | 65 | €2,161 | €2,790 | +€629 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €4,196,873 | €2,673,938 | -€1.5m | -36.3% |
| Profit (loss) for the period | 9904 | €4,196,873 | €2,673,938 | -€1.5m | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,196,873 | €2,673,938 | -€1.5m | -36.3% |
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 11 October 2026 via checked.be.