CAZAMAX: 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.
CAZAMAX
Largest movements
- Tangible fixed assets -€56,130
down €56,130 (-2.6%), from €2.1m to €2.1m
- Other debts -€47,547
down €47,547 (-23.0%), from €207,119 to €159,572
- Trade debts +€32,874
up €32,874 (+2112.7%), from €1,556 to €34,430
- Profit (loss) carried forward -€30,084
down €30,084 (-19.5%), from -€154,180 to -€184,264
- Gross operating margin -€17,896
down €17,896 (-13.7%), from €130,765 to €112,870
- Financial charges -€11,378
down €11,378 (-12.5%), from €91,008 to €79,630
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 | €2,145,974 | €2,087,083 | -€58,891 | -2.7% |
| Fixed assets | 21/28 | €2,140,618 | €2,084,488 | -€56,130 | -2.6% |
| Tangible fixed assets | 22/27 | €2,140,618 | €2,084,488 | -€56,130 | -2.6% |
| Land and buildings | 22 | €2,140,618 | €2,084,488 | -€56,130 | -2.6% |
| Current assets | 29/58 | €5,355 | €2,595 | -€2,761 | -51.6% |
| Cash at bank and in hand | 54/58 | €2,873 | - | -€2,873 | |
| Deferred charges and accrued income | 490/1 | €2,482 | €2,595 | +€112 | +4.5% |
| Total equity and liabilities | 10/49 | €2,145,974 | €2,087,083 | -€58,891 | -2.7% |
| Equity | 10/15 | €157,820 | €127,736 | -€30,084 | -19.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Revaluation surpluses | 12 | €307,000 | €307,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,180 | -€184,264 | -€30,084 | -19.5% |
| Amounts payable | 17/49 | €1,988,154 | €1,959,346 | -€28,807 | -1.4% |
| Amounts payable after more than one year | 17 | €11,400 | €11,400 | = | 0.0% |
| Other amounts payable | 178/9 | €11,400 | €11,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,958,675 | €1,947,946 | -€10,728 | -0.5% |
| Financial debts | 43 | €1,750,000 | €1,753,945 | +€3,945 | +0.2% |
| Credit institutions | 430/8 | €1,750,000 | €1,753,945 | +€3,945 | +0.2% |
| Trade debts | 44 | €1,556 | €34,430 | +€32,874 | +2112.7% |
| Suppliers | 440/4 | €1,556 | €34,430 | +€32,874 | +2112.7% |
| Other amounts payable | 47/48 | €207,119 | €159,572 | -€47,547 | -23.0% |
| Accrued charges and deferred income | 492/3 | €18,079 | €0 | -€18,079 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,130 | €56,130 | = | 0.0% |
| Other operating charges | 640/8 | €6,876 | €7,194 | +€318 | +4.6% |
| Gross operating margin | 9900 | €130,765 | €112,870 | -€17,896 | -13.7% |
| Operating profit (loss) | 9901 | €67,760 | €49,546 | -€18,214 | -26.9% |
| Financial charges | 65/66B | €91,008 | €79,630 | -€11,378 | -12.5% |
| Recurring financial charges | 65 | €91,008 | €79,630 | -€11,378 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,248 | -€30,084 | -€6,836 | -29.4% |
| Profit (loss) for the period | 9904 | -€23,248 | -€30,084 | -€6,836 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,248 | -€30,084 | -€6,836 | -29.4% |
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 11 October 2026 via checked.be.