CAWARRA: 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.
CAWARRA
Largest movements
- Tangible fixed assets -€93,213
down €93,213 (-36.5%), from €255,519 to €162,305
of which Land and buildings: -€128,205
- Cash -€3,766
down €3,766 (-75.9%), from €4,959 to €1,193
mainly Other debts (-€155,432)
- Other debts -€155,432
down €155,432 (-49.1%), from €316,778 to €161,346
- Profit (loss) carried forward +€53,381
up €53,381 (+84.8%), from -€62,942 to -€9,561
- Tax, wage and social debts +€2,910
new in 2025: €2,910
- Gross operating margin +€199,173
up €199,173 (+20021.0%), from €995 to €200,167
- Other operating charges +€122,991
up €122,991 (+10526.0%), from €1,168 to €124,160
- Depreciation +€4,374
up €4,374 (+28.6%), from €15,284 to €19,657
- Taxes +€2,910
new in 2025: €2,910
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 | €263,877 | €165,065 | -€98,812 | -37.4% |
| Fixed assets | 21/28 | €255,519 | €162,305 | -€93,213 | -36.5% |
| Tangible fixed assets | 22/27 | €255,519 | €162,305 | -€93,213 | -36.5% |
| Land and buildings | 22 | €245,907 | €117,702 | -€128,205 | -52.1% |
| Plant, machinery and equipment | 23 | €2,535 | €2,026 | -€510 | -20.1% |
| Furniture and vehicles | 24 | €7,077 | €42,577 | +€35,501 | +501.7% |
| Current assets | 29/58 | €8,359 | €2,760 | -€5,599 | -67.0% |
| Amounts receivable within one year | 40/41 | €3,399 | €1,567 | -€1,833 | -53.9% |
| Trade receivables | 40 | €2,097 | - | -€2,097 | |
| Other amounts receivable | 41 | €1,302 | €1,567 | +€264 | +20.3% |
| Cash at bank and in hand | 54/58 | €4,959 | €1,193 | -€3,766 | -75.9% |
| Total equity and liabilities | 10/49 | €263,877 | €165,065 | -€98,812 | -37.4% |
| Equity | 10/15 | -€52,953 | €428 | +€53,381 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,789 | €3,789 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,929 | €1,929 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,942 | -€9,561 | +€53,381 | +84.8% |
| Amounts payable | 17/49 | €316,831 | €164,637 | -€152,193 | -48.0% |
| Amounts payable within one year | 42/48 | €316,831 | €164,637 | -€152,193 | -48.0% |
| Trade debts | 44 | €52 | €381 | +€329 | +628.5% |
| Suppliers | 440/4 | €52 | €381 | +€329 | +628.5% |
| Taxes, remuneration and social security | 45 | - | €2,910 | +€2,910 | |
| Taxes | 450/3 | - | €2,910 | +€2,910 | |
| Other amounts payable | 47/48 | €316,778 | €161,346 | -€155,432 | -49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,284 | €19,657 | +€4,374 | +28.6% |
| Other operating charges | 640/8 | €1,168 | €124,160 | +€122,991 | +10526.0% |
| Gross operating margin | 9900 | €995 | €200,167 | +€199,173 | +20021.0% |
| Operating profit (loss) | 9901 | -€15,457 | €56,350 | +€71,808 | |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €73 | €73 | -€0 | -0.3% |
| Recurring financial charges | 65 | €73 | €73 | -€0 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,531 | €56,291 | +€71,822 | |
| Income taxes | 67/77 | - | €2,910 | +€2,910 | |
| Profit (loss) for the period | 9904 | -€15,531 | €53,381 | +€68,912 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,531 | €53,381 | +€68,912 |
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.