CASTRUM ADVISORY: 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.
CASTRUM ADVISORY
Largest movements
- Tangible fixed assets -€50,939
down €50,939 (-10.0%), from €507,333 to €456,393
of which Furniture and vehicles: -€31,150
- Receivables within one year -€18,051
down €18,051 (-46.2%), from €39,041 to €20,990
of which Trade receivables: -€23,962
- Cash +€8,693
up €8,693 (+7.1%), from €123,126 to €131,819
mainly Net result for the year (+€129,834) and Depreciation (+€53,664)
- Tax, wage and social debts -€55,346
no longer reported in 2025 (was €55,346)
of which Taxes: -€49,466
- Other debts -€15,369
down €15,369 (-12.6%), from €122,067 to €106,698
- Debts after one year -€11,364
down €11,364 (-4.0%), from €287,686 to €276,322
- Short-term financial debts +€10,418
new in 2025: €10,418
- Financial income +€23,142
up €23,142 (+1808.2%), from €1,280 to €24,421
- Depreciation +€15,009
up €15,009 (+38.8%), from €38,655 to €53,664
- Gross operating margin -€5,404
down €5,404 (-2.5%), from €216,405 to €211,001
- Taxes -€4,476
down €4,476 (-10.9%), from €40,978 to €36,501
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 | €842,204 | €780,936 | -€61,269 | -7.3% |
| Fixed assets | 21/28 | €507,333 | €456,393 | -€50,939 | -10.0% |
| Tangible fixed assets | 22/27 | €507,333 | €456,393 | -€50,939 | -10.0% |
| Land and buildings | 22 | €381,320 | €360,834 | -€20,486 | -5.4% |
| Plant, machinery and equipment | 23 | €4,284 | €4,980 | +€696 | +16.2% |
| Furniture and vehicles | 24 | €121,729 | €90,579 | -€31,150 | -25.6% |
| Current assets | 29/58 | €334,872 | €324,542 | -€10,329 | -3.1% |
| Amounts receivable within one year | 40/41 | €39,041 | €20,990 | -€18,051 | -46.2% |
| Trade receivables | 40 | €33,608 | €9,647 | -€23,962 | -71.3% |
| Other amounts receivable | 41 | €5,433 | €11,343 | +€5,911 | +108.8% |
| Current investments | 50/53 | €172,704 | €171,733 | -€972 | -0.6% |
| Cash at bank and in hand | 54/58 | €123,126 | €131,819 | +€8,693 | +7.1% |
| Total equity and liabilities | 10/49 | €842,204 | €780,936 | -€61,269 | -7.3% |
| Equity | 10/15 | €349,960 | €349,960 | = | 0.0% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €346,460 | €346,460 | = | 0.0% |
| Distributable reserves | 133 | €346,460 | €346,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €492,245 | €430,976 | -€61,269 | -12.4% |
| Amounts payable after more than one year | 17 | €287,686 | €276,322 | -€11,364 | -4.0% |
| Financial debts | 170/4 | €287,686 | €276,322 | -€11,364 | -4.0% |
| Amounts payable within one year | 42/48 | €204,559 | €154,654 | -€49,905 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €23,664 | €25,766 | +€2,102 | +8.9% |
| Financial debts | 43 | - | €10,418 | +€10,418 | |
| Credit institutions | 430/8 | - | €10,418 | +€10,418 | |
| Trade debts | 44 | €3,481 | €11,771 | +€8,290 | +238.1% |
| Suppliers | 440/4 | €3,481 | €11,771 | +€8,290 | +238.1% |
| Taxes, remuneration and social security | 45 | €55,346 | - | -€55,346 | |
| Taxes | 450/3 | €49,466 | - | -€49,466 | |
| Remuneration and social security | 454/9 | €5,880 | - | -€5,880 | |
| Other amounts payable | 47/48 | €122,067 | €106,698 | -€15,369 | -12.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,655 | €53,664 | +€15,009 | +38.8% |
| Other operating charges | 640/8 | €1,902 | €2,677 | +€775 | +40.8% |
| Gross operating margin | 9900 | €216,405 | €211,001 | -€5,404 | -2.5% |
| Operating profit (loss) | 9901 | €175,848 | €154,659 | -€21,189 | -12.0% |
| Financial income | 75/76B | €1,280 | €24,421 | +€23,142 | +1808.2% |
| Recurring financial income | 75 | €1,280 | €24,421 | +€23,142 | +1808.2% |
| Financial charges | 65/66B | €14,084 | €12,745 | -€1,339 | -9.5% |
| Recurring financial charges | 65 | €14,084 | €12,745 | -€1,339 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €163,044 | €166,336 | +€3,291 | +2.0% |
| Income taxes | 67/77 | €40,978 | €36,501 | -€4,476 | -10.9% |
| Profit (loss) for the period | 9904 | €122,067 | €129,834 | +€7,768 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,067 | €129,834 | +€7,768 | +6.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.