CAUWELIER: 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.
CAUWELIER
Largest movements
- Tangible fixed assets +€33,549
up €33,549 (+22.9%), from €146,527 to €180,077
of which Furniture and vehicles: +€53,149
- Stocks and contracts -€6,477
down €6,477 (-6.2%), from €105,156 to €98,679
- Debts after one year +€19,977
up €19,977, from €0 to €19,977
- Reserves +€11,301
up €11,301 (+4.2%), from €266,598 to €277,899
- Advances received -€11,010
down €11,010 (-100%), from €11,010 to €0
- Other debts +€10,685
up €10,685 (+7.2%), from €148,100 to €158,786
- Gross operating margin +€27,487
up €27,487 (+73.1%), from €37,626 to €65,113
- Depreciation +€10,776
up €10,776 (+40.5%), from €26,611 to €37,386
- Taxes +€2,444
up €2,444, from €0 to €2,444
- Other operating charges +€974
up €974 (+190%), from €513 to €1,488
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 | €494,101 | €521,947 | +€27,846 | +5.6% |
| Fixed assets | 21/28 | €146,527 | €180,077 | +€33,549 | +22.9% |
| Tangible fixed assets | 22/27 | €146,527 | €180,077 | +€33,549 | +22.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €141,912 | €122,312 | -€19,600 | -13.8% |
| Furniture and vehicles | 24 | €4,615 | €57,764 | +€53,149 | +1,152% |
| Current assets | 29/58 | €347,574 | €341,871 | -€5,703 | -1.6% |
| Stocks and contracts in progress | 3 | €105,156 | €98,679 | -€6,477 | -6.2% |
| Stocks | 30/36 | €105,156 | €98,679 | -€6,477 | -6.2% |
| Amounts receivable within one year | 40/41 | €60,581 | €63,307 | +€2,726 | +4.5% |
| Trade receivables | 40 | €50,330 | €55,515 | +€5,185 | +10.3% |
| Other amounts receivable | 41 | €10,251 | €7,792 | -€2,459 | -24.0% |
| Cash at bank and in hand | 54/58 | €173,644 | €173,331 | -€313 | -0.2% |
| Deferred charges and accrued income | 490/1 | €8,193 | €6,554 | -€1,639 | -20.0% |
| Total equity and liabilities | 10/49 | €494,101 | €521,947 | +€27,846 | +5.6% |
| Equity | 10/15 | €285,198 | €296,499 | +€11,301 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €266,598 | €277,899 | +€11,301 | +4.2% |
| Distributable reserves | 133 | €266,598 | €277,899 | +€11,301 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €208,903 | €225,448 | +€16,545 | +7.9% |
| Amounts payable after more than one year | 17 | €0 | €19,977 | +€19,977 | |
| Financial debts | 170/4 | €0 | €19,977 | +€19,977 | |
| Amounts payable within one year | 42/48 | €185,534 | €183,073 | -€2,461 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €20,702 | €16,579 | -€4,123 | -19.9% |
| Trade debts | 44 | €644 | €3,905 | +€3,261 | +507% |
| Suppliers | 440/4 | €644 | €3,905 | +€3,261 | +507% |
| Advances received on contracts in progress | 46 | €11,010 | €0 | -€11,010 | -100% |
| Taxes, remuneration and social security | 45 | €5,077 | €3,803 | -€1,274 | -25.1% |
| Taxes | 450/3 | €5,077 | €3,803 | -€1,274 | -25.1% |
| Other amounts payable | 47/48 | €148,100 | €158,786 | +€10,685 | +7.2% |
| Accrued charges and deferred income | 492/3 | €23,370 | €22,399 | -€971 | -4.2% |
| Non-recurring operating income | 76A | - | €10,331 | +€10,331 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,611 | €37,386 | +€10,776 | +40.5% |
| Other operating charges | 640/8 | €513 | €1,488 | +€974 | +190% |
| Gross operating margin | 9900 | €37,626 | €65,113 | +€27,487 | +73.1% |
| Operating profit (loss) | 9901 | €10,502 | €26,239 | +€15,737 | +150% |
| Financial income | 75/76B | €909 | €759 | -€150 | -16.5% |
| Recurring financial income | 75 | €909 | €759 | -€150 | -16.5% |
| Financial charges | 65/66B | €13,801 | €13,253 | -€548 | -4.0% |
| Recurring financial charges | 65 | €13,801 | €13,253 | -€548 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,390 | €13,745 | +€16,135 | |
| Income taxes | 67/77 | €0 | €2,444 | +€2,444 | |
| Profit (loss) for the period | 9904 | -€2,390 | €11,301 | +€13,691 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,390 | €11,301 | +€13,691 |
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 16 October 2026 via checked.be.