Cayo: 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.
Cayo
Largest movements
- Receivables after one year -€84,590
down €84,590 (-100.0%), from €84,590 to €0
- Cash -€21,283
down €21,283 (-49.5%), from €42,980 to €21,697
mainly Other debts (-€142,993) and Trade debts (-€5,265)
- Receivables within one year -€10,736
down €10,736 (-27.5%), from €39,040 to €28,304
of which Trade receivables: -€6,222
- Other debts -€142,993
down €142,993 (-100.0%), from €142,993 to €0
- Reserves +€28,909
up €28,909 (+119.7%), from €24,158 to €53,068
of which Tax-exempt reserves: +€53,068
- Trade debts -€5,265
down €5,265 (-94.9%), from €5,546 to €281
- Gross operating margin +€4,690
up €4,690 (+12.7%), from €37,021 to €41,711
- Taxes -€2,881
down €2,881 (-23.5%), from €12,247 to €9,366
- Staff costs +€1,317
new in 2025: €1,317
- Other operating charges +€1,019
up €1,019 (+263.0%), from €387 to €1,406
- Financial charges +€966
up €966 (+199.4%), from €484 to €1,451
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 | €185,269 | €66,853 | -€118,415 | -63.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,544 | €652 | -€893 | -57.8% |
| Tangible fixed assets | 22/27 | €1,544 | €652 | -€893 | -57.8% |
| Furniture and vehicles | 24 | €1,544 | €652 | -€893 | -57.8% |
| Current assets | 29/58 | €183,724 | €66,202 | -€117,523 | -64.0% |
| Amounts receivable after more than one year | 29 | €84,590 | €0 | -€84,590 | -100.0% |
| Other amounts receivable | 291 | €84,590 | €0 | -€84,590 | -100.0% |
| Amounts receivable within one year | 40/41 | €39,040 | €28,304 | -€10,736 | -27.5% |
| Trade receivables | 40 | €25,092 | €18,870 | -€6,222 | -24.8% |
| Other amounts receivable | 41 | €13,949 | €9,434 | -€4,515 | -32.4% |
| Current investments | 50/53 | €16,200 | €16,200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €42,980 | €21,697 | -€21,283 | -49.5% |
| Deferred charges and accrued income | 490/1 | €914 | €0 | -€914 | -100.0% |
| Total equity and liabilities | 10/49 | €185,269 | €66,853 | -€118,415 | -63.9% |
| Equity | 10/15 | €26,658 | €55,568 | +€28,909 | +108.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €24,158 | €53,068 | +€28,909 | +119.7% |
| Tax-exempt reserves | 132 | - | €53,068 | +€53,068 | |
| Distributable reserves | 133 | €24,158 | €0 | -€24,158 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €158,610 | €11,286 | -€147,325 | -92.9% |
| Amounts payable within one year | 42/48 | €158,610 | €11,286 | -€147,325 | -92.9% |
| Trade debts | 44 | €5,546 | €281 | -€5,265 | -94.9% |
| Suppliers | 440/4 | €5,546 | €281 | -€5,265 | -94.9% |
| Taxes, remuneration and social security | 45 | €10,072 | €11,005 | +€933 | +9.3% |
| Taxes | 450/3 | €10,072 | €11,005 | +€933 | +9.3% |
| Other amounts payable | 47/48 | €142,993 | €0 | -€142,993 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €1,317 | +€1,317 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,606 | €893 | -€714 | -44.4% |
| Other operating charges | 640/8 | €387 | €1,406 | +€1,019 | +263.0% |
| Gross operating margin | 9900 | €37,021 | €41,711 | +€4,690 | +12.7% |
| Operating profit (loss) | 9901 | €35,027 | €38,095 | +€3,068 | +8.8% |
| Financial income | 75/76B | €2,460 | €1,630 | -€830 | -33.7% |
| Recurring financial income | 75 | €2,460 | €1,630 | -€830 | -33.7% |
| Financial charges | 65/66B | €484 | €1,451 | +€966 | +199.4% |
| Recurring financial charges | 65 | €484 | €1,451 | +€966 | +199.4% |
| Profit (loss) for the period before taxes | 9903 | €37,003 | €38,275 | +€1,272 | +3.4% |
| Income taxes | 67/77 | €12,247 | €9,366 | -€2,881 | -23.5% |
| Profit (loss) for the period | 9904 | €24,756 | €28,909 | +€4,153 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,756 | €28,909 | +€4,153 | +16.8% |
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 9 October 2026 via checked.be.