CASSIOPEIA: 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.
CASSIOPEIA
Largest movements
- Current investments -€1.2m
down €1.2m (-74.2%), from €1.6m to €412,394
- Cash +€882,639
up €882,639 (+184%), from €478,743 to €1.4m
mainly Current investments (+€1.2m) and Depreciation (+€175,917)
- Tangible fixed assets -€166,401
down €166,401 (-15.9%), from €1.0m to €877,602
of which Land and buildings: -€97,935
- Profit (loss) carried forward -€218,328
down €218,328 (-22.3%), from €980,297 to €761,969
- Other debts -€156,182
down €156,182 (-94.5%), from €165,315 to €9,134
- Tax, wage and social debts -€52,767
down €52,767 (-97.3%), from €54,204 to €1,436
- Gross operating margin -€538,200
down €538,200, from €436,055 to -€102,145
- Taxes -€93,694
down €93,694 (-99.2%), from €94,483 to €789
- Depreciation +€41,285
up €41,285 (+30.7%), from €134,632 to €175,917
- Financial income +€35,104
up €35,104 (+94.1%), from €37,291 to €72,395
- Other operating charges -€4,696
down €4,696 (-36.2%), from €12,966 to €8,269
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 | €3,137,016 | €2,692,072 | -€444,944 | -14.2% |
| Fixed assets | 21/28 | €1,044,042 | €877,642 | -€166,401 | -15.9% |
| Tangible fixed assets | 22/27 | €1,044,002 | €877,602 | -€166,401 | -15.9% |
| Land and buildings | 22 | €699,078 | €601,142 | -€97,935 | -14.0% |
| Plant, machinery and equipment | 23 | €87,536 | €78,338 | -€9,197 | -10.5% |
| Furniture and vehicles | 24 | €257,389 | €198,122 | -€59,268 | -23.0% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €2,092,974 | €1,814,430 | -€278,544 | -13.3% |
| Stocks and contracts in progress | 3 | €130 | €130 | = | 0.0% |
| Stocks | 30/36 | €130 | €130 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,433 | €29,492 | +€26,058 | +759% |
| Trade receivables | 40 | €3,388 | €8,470 | +€5,082 | +150% |
| Other amounts receivable | 41 | €45 | €21,022 | +€20,976 | +46,234% |
| Current investments | 50/53 | €1,598,598 | €412,394 | -€1.2m | -74.2% |
| Cash at bank and in hand | 54/58 | €478,743 | €1,361,382 | +€882,639 | +184% |
| Deferred charges and accrued income | 490/1 | €12,069 | €11,033 | -€1,036 | -8.6% |
| Total equity and liabilities | 10/49 | €3,137,016 | €2,692,072 | -€444,944 | -14.2% |
| Equity | 10/15 | €2,884,528 | €2,666,200 | -€218,328 | -7.6% |
| Contributions | 10/11 | €280,000 | €280,000 | = | 0.0% |
| Reserves | 13 | €1,624,231 | €1,624,231 | = | 0.0% |
| Distributable reserves | 133 | €1,624,231 | €1,624,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | €980,297 | €761,969 | -€218,328 | -22.3% |
| Amounts payable | 17/49 | €252,488 | €25,872 | -€226,616 | -89.8% |
| Amounts payable within one year | 42/48 | €252,488 | €25,872 | -€226,616 | -89.8% |
| Trade debts | 44 | €32,970 | €15,302 | -€17,667 | -53.6% |
| Suppliers | 440/4 | €32,970 | €15,302 | -€17,667 | -53.6% |
| Taxes, remuneration and social security | 45 | €54,204 | €1,436 | -€52,767 | -97.3% |
| Taxes | 450/3 | €54,204 | €1,436 | -€52,767 | -97.3% |
| Other amounts payable | 47/48 | €165,315 | €9,134 | -€156,182 | -94.5% |
| Non-recurring operating income | 76A | €19,800 | - | -€19,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,632 | €175,917 | +€41,285 | +30.7% |
| Other operating charges | 640/8 | €12,966 | €8,269 | -€4,696 | -36.2% |
| Gross operating margin | 9900 | €436,055 | -€102,145 | -€538,200 | |
| Operating profit (loss) | 9901 | €288,457 | -€286,332 | -€574,789 | |
| Financial income | 75/76B | €37,291 | €72,395 | +€35,104 | +94.1% |
| Recurring financial income | 75 | €37,291 | €72,395 | +€35,104 | +94.1% |
| Financial charges | 65/66B | €2,438 | €3,604 | +€1,166 | +47.8% |
| Recurring financial charges | 65 | €2,438 | €3,604 | +€1,166 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €323,311 | -€217,540 | -€540,851 | |
| Income taxes | 67/77 | €94,483 | €789 | -€93,694 | -99.2% |
| Profit (loss) for the period | 9904 | €228,828 | -€218,328 | -€447,156 | |
| Profit (loss) for the period to be appropriated | 9905 | €228,828 | -€218,328 | -€447,156 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.