CAZENEUVE: 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.
CAZENEUVE
Largest movements
- Tangible fixed assets -€118,653
down €118,653 (-17.8%), from €666,917 to €548,264
of which Land and buildings: -€133,670
- Cash +€77,992
up €77,992 (+64.8%), from €120,335 to €198,328
mainly Investment in fixed assets (net) (+€70,291) and Net result for the year (+€66,281)
- Receivables within one year +€48,966
up €48,966 (+12.3%), from €399,289 to €448,255
of which Trade receivables: +€48,966
- Reserves +€66,281
up €66,281 (+21.2%), from €312,771 to €379,052
of which Tax-exempt reserves: +€64,265
- Debts after one year -€53,208
down €53,208 (-13.5%), from €394,321 to €341,113
- Tax, wage and social debts -€28,639
down €28,639 (-65.7%), from €43,611 to €14,972
- Provisions +€21,332
up €21,332 (+44.6%), from €47,838 to €69,170
- Gross operating margin -€257,833
down €257,833 (-63.5%), from €406,214 to €148,381
- Financial charges -€91,955
down €91,955 (-93.5%), from €98,339 to €6,384
of which Non-recurring financial charges: -€72,250
- Depreciation -€32,405
down €32,405 (-39.6%), from €81,767 to €49,361
- Taxes -€28,704
down €28,704 (-93.6%), from €30,674 to €1,970
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 | €1,266,285 | €1,273,205 | +€6,921 | +0.5% |
| Fixed assets | 21/28 | €742,917 | €623,264 | -€119,653 | -16.1% |
| Tangible fixed assets | 22/27 | €666,917 | €548,264 | -€118,653 | -17.8% |
| Land and buildings | 22 | €649,144 | €515,474 | -€133,670 | -20.6% |
| Plant, machinery and equipment | 23 | - | €1,460 | +€1,460 | |
| Furniture and vehicles | 24 | €2,150 | €21,503 | +€19,353 | +900.0% |
| Other tangible fixed assets | 26 | €15,622 | €9,827 | -€5,795 | -37.1% |
| Financial fixed assets | 28 | €76,000 | €75,000 | -€1,000 | -1.3% |
| Current assets | 29/58 | €523,368 | €649,942 | +€126,573 | +24.2% |
| Amounts receivable within one year | 40/41 | €399,289 | €448,255 | +€48,966 | +12.3% |
| Trade receivables | 40 | €395,749 | €444,716 | +€48,966 | +12.4% |
| Other amounts receivable | 41 | €3,539 | €3,539 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €120,335 | €198,328 | +€77,992 | +64.8% |
| Deferred charges and accrued income | 490/1 | €3,744 | €3,359 | -€385 | -10.3% |
| Total equity and liabilities | 10/49 | €1,266,285 | €1,273,205 | +€6,921 | +0.5% |
| Equity | 10/15 | €440,990 | €507,002 | +€66,011 | +15.0% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €312,771 | €379,052 | +€66,281 | +21.2% |
| Tax-exempt reserves | 132 | €140,087 | €204,352 | +€64,265 | +45.9% |
| Distributable reserves | 133 | €172,685 | €174,701 | +€2,016 | +1.2% |
| Profit (loss) carried forward | 14 | €4,952 | €4,952 | = | 0.0% |
| Investment grants | 15 | €3,267 | €2,997 | -€270 | -8.3% |
| Provisions and deferred taxes | 16 | €47,838 | €69,170 | +€21,332 | +44.6% |
| Deferred taxes | 168 | €47,838 | €69,170 | +€21,332 | +44.6% |
| Amounts payable | 17/49 | €777,456 | €697,034 | -€80,422 | -10.3% |
| Amounts payable after more than one year | 17 | €394,321 | €341,113 | -€53,208 | -13.5% |
| Financial debts | 170/4 | €394,321 | €341,113 | -€53,208 | -13.5% |
| Amounts payable within one year | 42/48 | €331,294 | €305,720 | -€25,574 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €52,607 | €53,254 | +€647 | +1.2% |
| Trade debts | 44 | €14,111 | €14,733 | +€622 | +4.4% |
| Suppliers | 440/4 | €14,111 | €14,733 | +€622 | +4.4% |
| Taxes, remuneration and social security | 45 | €43,611 | €14,972 | -€28,639 | -65.7% |
| Taxes | 450/3 | €43,611 | €14,972 | -€28,639 | -65.7% |
| Other amounts payable | 47/48 | €220,965 | €222,761 | +€1,796 | +0.8% |
| Accrued charges and deferred income | 492/3 | €51,841 | €50,201 | -€1,640 | -3.2% |
| Non-recurring operating income | 76A | €63,052 | €95,348 | +€32,296 | +51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,767 | €49,361 | -€32,405 | -39.6% |
| Other operating charges | 640/8 | €7,469 | €3,933 | -€3,536 | -47.3% |
| Gross operating margin | 9900 | €406,214 | €148,381 | -€257,833 | -63.5% |
| Operating profit (loss) | 9901 | €316,978 | €95,087 | -€221,891 | -70.0% |
| Financial income | 75/76B | €805 | €880 | +€75 | +9.3% |
| Recurring financial income | 75 | €805 | €880 | +€75 | +9.3% |
| Financial charges | 65/66B | €98,339 | €6,384 | -€91,955 | -93.5% |
| Recurring financial charges | 65 | €25,089 | €5,384 | -€19,705 | -78.5% |
| Non-recurring financial charges | 66B | €73,250 | €1,000 | -€72,250 | -98.6% |
| Profit (loss) for the period before taxes | 9903 | €219,444 | €89,583 | -€129,861 | -59.2% |
| Transfer from deferred taxes | 780 | €2,979 | €2,505 | -€474 | -15.9% |
| Transfer to deferred taxes | 680 | €15,763 | €23,837 | +€8,074 | +51.2% |
| Income taxes | 67/77 | €30,674 | €1,970 | -€28,704 | -93.6% |
| Profit (loss) for the period | 9904 | €175,986 | €66,281 | -€109,705 | -62.3% |
| Transfer from tax-exempt reserves | 789 | €8,668 | €7,246 | -€1,422 | -16.4% |
| Transfer to tax-exempt reserves | 689 | €47,289 | €71,511 | +€24,222 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €137,365 | €2,016 | -€135,349 | -98.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.