CAZAC: 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.
CAZAC
Largest movements
- Tangible fixed assets -€18,003
down €18,003 (-14.5%), from €124,452 to €106,448
of which Furniture and vehicles: -€10,444
- Receivables within one year +€8,872
up €8,872 (+133%), from €6,674 to €15,545
of which Other amounts receivable: +€8,672
- Cash -€6,528
down €6,528 (-29.7%), from €22,016 to €15,488
mainly Debts after one year (-€18,828) and Receivables within one year (-€8,872)
- Debts after one year -€18,828
down €18,828 (-25.5%), from €73,699 to €54,871
- Reserves +€5,000
up €5,000 (+16.8%), from €29,775 to €34,775
of which Distributable reserves: +€5,000
- Gross operating margin -€7,521
down €7,521 (-19.7%), from €38,183 to €30,662
- Taxes -€1,274
down €1,274 (-30.4%), from €4,190 to €2,916
- Financial charges -€1,022
down €1,022 (-21.0%), from €4,868 to €3,846
- Depreciation +€644
up €644 (+3.7%), from €17,359 to €18,003
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 | €154,678 | €138,361 | -€16,317 | -10.5% |
| Fixed assets | 21/28 | €124,452 | €106,448 | -€18,003 | -14.5% |
| Tangible fixed assets | 22/27 | €124,452 | €106,448 | -€18,003 | -14.5% |
| Land and buildings | 22 | €87,799 | €81,295 | -€6,504 | -7.4% |
| Plant, machinery and equipment | 23 | €1,908 | €1,908 | = | 0.0% |
| Furniture and vehicles | 24 | €25,213 | €14,769 | -€10,444 | -41.4% |
| Other tangible fixed assets | 26 | €9,532 | €8,476 | -€1,056 | -11.1% |
| Current assets | 29/58 | €30,226 | €31,913 | +€1,687 | +5.6% |
| Amounts receivable within one year | 40/41 | €6,674 | €15,545 | +€8,872 | +133% |
| Trade receivables | 40 | €6,625 | €6,824 | +€200 | +3.0% |
| Other amounts receivable | 41 | €49 | €8,721 | +€8,672 | +17,647% |
| Cash at bank and in hand | 54/58 | €22,016 | €15,488 | -€6,528 | -29.7% |
| Deferred charges and accrued income | 490/1 | €1,536 | €879 | -€657 | -42.7% |
| Total equity and liabilities | 10/49 | €154,678 | €138,361 | -€16,317 | -10.5% |
| Equity | 10/15 | €46,498 | €51,707 | +€5,209 | +11.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €29,775 | €34,775 | +€5,000 | +16.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,233 | €13,233 | = | 0.0% |
| Distributable reserves | 133 | €14,682 | €19,682 | +€5,000 | +34.1% |
| Profit (loss) carried forward | 14 | €10,523 | €10,732 | +€209 | +2.0% |
| Amounts payable | 17/49 | €108,180 | €86,654 | -€21,526 | -19.9% |
| Amounts payable after more than one year | 17 | €73,699 | €54,871 | -€18,828 | -25.5% |
| Financial debts | 170/4 | €73,699 | €54,871 | -€18,828 | -25.5% |
| Amounts payable within one year | 42/48 | €34,480 | €31,783 | -€2,698 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €18,163 | €18,828 | +€665 | +3.7% |
| Trade debts | 44 | €3,609 | €2,070 | -€1,539 | -42.6% |
| Suppliers | 440/4 | €3,609 | €2,070 | -€1,539 | -42.6% |
| Taxes, remuneration and social security | 45 | €12,284 | €10,885 | -€1,399 | -11.4% |
| Taxes | 450/3 | €12,284 | €10,885 | -€1,399 | -11.4% |
| Other amounts payable | 47/48 | €424 | - | -€424 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,359 | €18,003 | +€644 | +3.7% |
| Other operating charges | 640/8 | €831 | €740 | -€91 | -10.9% |
| Gross operating margin | 9900 | €38,183 | €30,662 | -€7,521 | -19.7% |
| Operating profit (loss) | 9901 | €19,993 | €11,919 | -€8,074 | -40.4% |
| Financial income | 75/76B | €34 | €52 | +€18 | +53.6% |
| Recurring financial income | 75 | €34 | €52 | +€18 | +53.6% |
| Financial charges | 65/66B | €4,868 | €3,846 | -€1,022 | -21.0% |
| Recurring financial charges | 65 | €4,868 | €3,846 | -€1,022 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €15,159 | €8,125 | -€7,034 | -46.4% |
| Income taxes | 67/77 | €4,190 | €2,916 | -€1,274 | -30.4% |
| Profit (loss) for the period | 9904 | €10,969 | €5,209 | -€5,760 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,969 | €5,209 | -€5,760 | -52.5% |
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 14 October 2026 via checked.be.