CAWACARD: 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.
CAWACARD
Largest movements
- Receivables within one year +€89,627
up €89,627 (+18.0%), from €498,825 to €588,451
of which Other amounts receivable: +€88,938
- Cash -€26,633
down €26,633 (-51.4%), from €51,845 to €25,212
mainly Receivables within one year (-€89,627) and Tax, wage and social debts (-€15,906)
- Deferred charges and accrued income +€14,395
up €14,395 (+420%), from €3,429 to €17,824
- Reserves +€71,348
up €71,348 (+19.0%), from €375,090 to €446,438
- Current portion of long-term debt +€16,714
new in 2025: €16,714
- Tax, wage and social debts -€15,906
down €15,906 (-61.3%), from €25,938 to €10,031
- Gross operating margin +€34,864
up €34,864 (+83.7%), from €41,657 to €76,521
- Taxes +€17,060
up €17,060 (+132%), from €12,971 to €30,031
- Financial income +€1,670
up €1,670 (+5.3%), from €31,356 to €33,026
- Other operating charges -€1,650
down €1,650 (-80.7%), from €2,044 to €394
- Depreciation -€1,269
down €1,269 (-16.4%), from €7,719 to €6,450
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 | €583,802 | €656,187 | +€72,384 | +12.4% |
| Fixed assets | 21/28 | €24,203 | €19,199 | -€5,004 | -20.7% |
| Tangible fixed assets | 22/27 | €24,173 | €19,169 | -€5,004 | -20.7% |
| Plant, machinery and equipment | 23 | €21,415 | €16,464 | -€4,951 | -23.1% |
| Furniture and vehicles | 24 | €2,758 | €2,704 | -€53 | -1.9% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €559,599 | €636,988 | +€77,389 | +13.8% |
| Amounts receivable within one year | 40/41 | €498,825 | €588,451 | +€89,627 | +18.0% |
| Trade receivables | 40 | - | €689 | +€689 | |
| Other amounts receivable | 41 | €498,825 | €587,762 | +€88,938 | +17.8% |
| Current investments | 50/53 | €5,500 | €5,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,845 | €25,212 | -€26,633 | -51.4% |
| Deferred charges and accrued income | 490/1 | €3,429 | €17,824 | +€14,395 | +420% |
| Total equity and liabilities | 10/49 | €583,802 | €656,187 | +€72,384 | +12.4% |
| Equity | 10/15 | €537,432 | €608,780 | +€71,348 | +13.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €375,090 | €446,438 | +€71,348 | +19.0% |
| Distributable reserves | 133 | €375,090 | €446,438 | +€71,348 | +19.0% |
| Profit (loss) carried forward | 14 | €156,145 | €156,145 | = | 0.0% |
| Amounts payable | 17/49 | €46,370 | €47,406 | +€1,036 | +2.2% |
| Amounts payable within one year | 42/48 | €46,176 | €47,167 | +€990 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | - | €16,714 | +€16,714 | |
| Trade debts | 44 | €394 | €576 | +€183 | +46.4% |
| Suppliers | 440/4 | €394 | €576 | +€183 | +46.4% |
| Taxes, remuneration and social security | 45 | €25,938 | €10,031 | -€15,906 | -61.3% |
| Taxes | 450/3 | €25,938 | €10,031 | -€15,906 | -61.3% |
| Other amounts payable | 47/48 | €19,845 | €19,845 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €194 | €239 | +€46 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,719 | €6,450 | -€1,269 | -16.4% |
| Other operating charges | 640/8 | €2,044 | €394 | -€1,650 | -80.7% |
| Gross operating margin | 9900 | €41,657 | €76,521 | +€34,864 | +83.7% |
| Operating profit (loss) | 9901 | €31,894 | €69,677 | +€37,783 | +118% |
| Financial income | 75/76B | €31,356 | €33,026 | +€1,670 | +5.3% |
| Recurring financial income | 75 | €31,356 | €33,026 | +€1,670 | +5.3% |
| Financial charges | 65/66B | €1,291 | €1,323 | +€33 | +2.5% |
| Recurring financial charges | 65 | €1,291 | €1,323 | +€33 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €61,959 | €101,379 | +€39,420 | +63.6% |
| Income taxes | 67/77 | €12,971 | €30,031 | +€17,060 | +132% |
| Profit (loss) for the period | 9904 | €48,988 | €71,348 | +€22,360 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,988 | €71,348 | +€22,360 | +45.6% |
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 22 October 2026 via checked.be.