CASTEELS GEERT: 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.
CASTEELS GEERT
Largest movements
- Cash +€30,290
up €30,290 (+21.8%), from €138,745 to €169,035
mainly Stocks and contracts (+€17,956) and Net result for the year (+€16,365)
- Stocks and contracts -€17,956
down €17,956 (-64.8%), from €27,690 to €9,733
of which Contracts in progress: -€13,901
- Receivables within one year +€9,523
up €9,523 (+33.4%), from €28,500 to €38,023
of which Trade receivables: +€22,533
- Tangible fixed assets -€8,285
down €8,285 (-30.5%), from €27,179 to €18,894
of which Furniture and vehicles: -€5,664
- Reserves +€16,365
up €16,365 (+9.2%), from €177,067 to €193,432
- Debts after one year -€5,879
down €5,879 (-44.9%), from €13,099 to €7,220
- Other debts +€2,843
up €2,843 (+31.9%), from €8,906 to €11,749
- Gross operating margin +€3,347
up €3,347 (+10.6%), from €31,674 to €35,020
- Staff costs +€2,880
up €2,880 (+450.0%), from €640 to €3,520
- Depreciation +€847
up €847 (+11.4%), from €7,438 to €8,285
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 | €227,173 | €241,040 | +€13,867 | +6.1% |
| Fixed assets | 21/28 | €27,179 | €18,894 | -€8,285 | -30.5% |
| Tangible fixed assets | 22/27 | €27,179 | €18,894 | -€8,285 | -30.5% |
| Plant, machinery and equipment | 23 | €4,377 | €2,824 | -€1,553 | -35.5% |
| Furniture and vehicles | 24 | €16,729 | €11,065 | -€5,664 | -33.9% |
| Other tangible fixed assets | 26 | €6,073 | €5,006 | -€1,067 | -17.6% |
| Current assets | 29/58 | €199,993 | €222,146 | +€22,152 | +11.1% |
| Stocks and contracts in progress | 3 | €27,690 | €9,733 | -€17,956 | -64.8% |
| Stocks | 30/36 | €13,789 | €9,733 | -€4,055 | -29.4% |
| Contracts in progress | 37 | €13,901 | - | -€13,901 | |
| Amounts receivable within one year | 40/41 | €28,500 | €38,023 | +€9,523 | +33.4% |
| Trade receivables | 40 | €8,956 | €31,489 | +€22,533 | +251.6% |
| Other amounts receivable | 41 | €19,544 | €6,534 | -€13,010 | -66.6% |
| Cash at bank and in hand | 54/58 | €138,745 | €169,035 | +€30,290 | +21.8% |
| Deferred charges and accrued income | 490/1 | €5,058 | €5,354 | +€296 | +5.8% |
| Total equity and liabilities | 10/49 | €227,173 | €241,040 | +€13,867 | +6.1% |
| Equity | 10/15 | €195,667 | €212,032 | +€16,365 | +8.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €177,067 | €193,432 | +€16,365 | +9.2% |
| Distributable reserves | 133 | €177,067 | €193,432 | +€16,365 | +9.2% |
| Amounts payable | 17/49 | €31,506 | €29,008 | -€2,498 | -7.9% |
| Amounts payable after more than one year | 17 | €13,099 | €7,220 | -€5,879 | -44.9% |
| Financial debts | 170/4 | €13,099 | €7,220 | -€5,879 | -44.9% |
| Amounts payable within one year | 42/48 | €18,407 | €21,788 | +€3,382 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €5,607 | €5,879 | +€272 | +4.8% |
| Trade debts | 44 | €3,893 | €4,160 | +€267 | +6.9% |
| Suppliers | 440/4 | €3,893 | €4,160 | +€267 | +6.9% |
| Other amounts payable | 47/48 | €8,906 | €11,749 | +€2,843 | +31.9% |
| Remuneration, social security and pensions | 62 | €640 | €3,520 | +€2,880 | +450.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,438 | €8,285 | +€847 | +11.4% |
| Other operating charges | 640/8 | €966 | €1,031 | +€65 | +6.8% |
| Gross operating margin | 9900 | €31,674 | €35,020 | +€3,347 | +10.6% |
| Operating profit (loss) | 9901 | €22,630 | €22,184 | -€446 | -2.0% |
| Financial income | 75/76B | €796 | €530 | -€267 | -33.5% |
| Recurring financial income | 75 | €796 | €530 | -€267 | -33.5% |
| Financial charges | 65/66B | €1,161 | €917 | -€244 | -21.0% |
| Recurring financial charges | 65 | €1,161 | €917 | -€244 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €22,266 | €21,797 | -€469 | -2.1% |
| Income taxes | 67/77 | €5,133 | €5,432 | +€299 | +5.8% |
| Profit (loss) for the period | 9904 | €17,133 | €16,365 | -€768 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,133 | €16,365 | -€768 | -4.5% |
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.