CASTLE WHITE: 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.
CASTLE WHITE
Largest movements
- Receivables within one year +€46,942
up €46,942 (+123%), from €38,130 to €85,073
of which Other amounts receivable: +€53,046
- Tangible fixed assets -€28,045
down €28,045 (-18.9%), from €148,126 to €120,080
of which Leasing and similar rights: -€17,162
- Cash +€27,657
up €27,657 (+9.3%), from €296,388 to €324,045
mainly Net result for the year (+€75,017) and Depreciation (+€28,145)
- Reserves +€75,017
up €75,017 (+25.7%), from €292,297 to €367,313
- Debts after one year -€46,745
down €46,745 (-37.3%), from €125,336 to €78,591
- Current portion of long-term debt +€15,916
up €15,916 (+51.6%), from €30,829 to €46,745
- Tax, wage and social debts -€7,437
down €7,437 (-48.7%), from €15,259 to €7,822
of which Taxes: -€10,803
- Short-term financial debts +€6,762
new in 2025: €6,762
- Gross operating margin -€53,453
down €53,453 (-17.8%), from €300,916 to €247,462
- Depreciation -€19,583
down €19,583 (-41.0%), from €47,729 to €28,145
- Staff costs -€19,366
down €19,366 (-14.0%), from €138,087 to €118,721
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 | €487,616 | €530,304 | +€42,688 | +8.8% |
| Fixed assets | 21/28 | €148,825 | €120,680 | -€28,145 | -18.9% |
| Intangible fixed assets | 21 | €700 | €600 | -€100 | -14.3% |
| Tangible fixed assets | 22/27 | €148,126 | €120,080 | -€28,045 | -18.9% |
| Land and buildings | 22 | €91,814 | €88,584 | -€3,230 | -3.5% |
| Furniture and vehicles | 24 | €19,637 | €11,984 | -€7,654 | -39.0% |
| Leasing and similar rights | 25 | €36,674 | €19,513 | -€17,162 | -46.8% |
| Current assets | 29/58 | €338,790 | €409,624 | +€70,834 | +20.9% |
| Amounts receivable within one year | 40/41 | €38,130 | €85,073 | +€46,942 | +123% |
| Trade receivables | 40 | €6,305 | €201 | -€6,104 | -96.8% |
| Other amounts receivable | 41 | €31,825 | €84,871 | +€53,046 | +167% |
| Cash at bank and in hand | 54/58 | €296,388 | €324,045 | +€27,657 | +9.3% |
| Deferred charges and accrued income | 490/1 | €4,272 | €507 | -€3,766 | -88.1% |
| Total equity and liabilities | 10/49 | €487,616 | €530,304 | +€42,688 | +8.8% |
| Equity | 10/15 | €307,297 | €382,313 | +€75,017 | +24.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €292,297 | €367,313 | +€75,017 | +25.7% |
| Distributable reserves | 133 | €292,297 | €367,313 | +€75,017 | +25.7% |
| Amounts payable | 17/49 | €180,319 | €147,991 | -€32,328 | -17.9% |
| Amounts payable after more than one year | 17 | €125,336 | €78,591 | -€46,745 | -37.3% |
| Financial debts | 170/4 | €125,336 | €78,591 | -€46,745 | -37.3% |
| Amounts payable within one year | 42/48 | €53,822 | €68,428 | +€14,606 | +27.1% |
| Current portion of amounts payable after more than one year | 42 | €30,829 | €46,745 | +€15,916 | +51.6% |
| Financial debts | 43 | - | €6,762 | +€6,762 | |
| Credit institutions | 430/8 | - | €6,762 | +€6,762 | |
| Trade debts | 44 | €7,734 | €7,098 | -€636 | -8.2% |
| Suppliers | 440/4 | €7,734 | €7,098 | -€636 | -8.2% |
| Taxes, remuneration and social security | 45 | €15,259 | €7,822 | -€7,437 | -48.7% |
| Taxes | 450/3 | €10,938 | €135 | -€10,803 | -98.8% |
| Remuneration and social security | 454/9 | €4,321 | €7,687 | +€3,366 | +77.9% |
| Accrued charges and deferred income | 492/3 | €1,161 | €972 | -€189 | -16.3% |
| Remuneration, social security and pensions | 62 | €138,087 | €118,721 | -€19,366 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,729 | €28,145 | -€19,583 | -41.0% |
| Other operating charges | 640/8 | €3,307 | €2,119 | -€1,188 | -35.9% |
| Gross operating margin | 9900 | €300,916 | €247,462 | -€53,453 | -17.8% |
| Operating profit (loss) | 9901 | €111,793 | €98,477 | -€13,316 | -11.9% |
| Financial income | 75/76B | €2,138 | €3,466 | +€1,328 | +62.1% |
| Recurring financial income | 75 | €2,138 | €3,466 | +€1,328 | +62.1% |
| Financial charges | 65/66B | €6,679 | €5,932 | -€747 | -11.2% |
| Recurring financial charges | 65 | €6,679 | €5,932 | -€747 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €107,252 | €96,011 | -€11,241 | -10.5% |
| Income taxes | 67/77 | €23,574 | €20,994 | -€2,580 | -10.9% |
| Profit (loss) for the period | 9904 | €83,678 | €75,017 | -€8,661 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,678 | €75,017 | -€8,661 | -10.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.