CAZIMIR: 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.
CAZIMIR
Largest movements
- Receivables within one year +€763,027
up €763,027 (+30.6%), from €2.5m to €3.3m
of which Trade receivables: +€759,122
- Cash +€633,137
up €633,137 (+103.4%), from €612,489 to €1.2m
mainly Net result for the year (+€2.4m) and Other debts (+€1.2m)
- Tangible fixed assets -€87,663
down €87,663 (-22.5%), from €389,857 to €302,194
of which Other tangible fixed assets: -€77,084
- Other debts +€1.2m
up €1.2m (+73.1%), from €1.6m to €2.8m
- Accrued charges and deferred income +€247,976
new in 2025: €247,976
- Debts after one year -€116,508
down €116,508 (-58.2%), from €200,102 to €83,594
- Trade debts -€54,320
down €54,320 (-3.5%), from €1.5m to €1.5m
- Gross operating margin +€765,492
up €765,492 (+33.2%), from €2.3m to €3.1m
- Staff costs +€83,026
up €83,026 (+22.2%), from €374,558 to €457,585
- Write-downs -€72,520
down €72,520, from €69,992 to -€2,527
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 | €3,791,219 | €5,127,285 | +€1.3m | +35.2% |
| Fixed assets | 21/28 | €535,212 | €455,835 | -€79,377 | -14.8% |
| Intangible fixed assets | 21 | €140,355 | €148,641 | +€8,286 | +5.9% |
| Tangible fixed assets | 22/27 | €389,857 | €302,194 | -€87,663 | -22.5% |
| Plant, machinery and equipment | 23 | €10,795 | €3,147 | -€7,648 | -70.8% |
| Furniture and vehicles | 24 | €8,794 | €5,863 | -€2,931 | -33.3% |
| Other tangible fixed assets | 26 | €370,268 | €293,184 | -€77,084 | -20.8% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €3,256,007 | €4,671,450 | +€1.4m | +43.5% |
| Amounts receivable within one year | 40/41 | €2,494,902 | €3,257,929 | +€763,027 | +30.6% |
| Trade receivables | 40 | €2,374,897 | €3,134,019 | +€759,122 | +32.0% |
| Other amounts receivable | 41 | €120,005 | €123,910 | +€3,905 | +3.3% |
| Cash at bank and in hand | 54/58 | €612,489 | €1,245,626 | +€633,137 | +103.4% |
| Deferred charges and accrued income | 490/1 | €148,616 | €167,896 | +€19,280 | +13.0% |
| Total equity and liabilities | 10/49 | €3,791,219 | €5,127,285 | +€1.3m | +35.2% |
| Equity | 10/15 | €246,757 | €297,821 | +€51,064 | +20.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €228,157 | €279,221 | +€51,064 | +22.4% |
| 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 | €58 | €58 | = | 0.0% |
| Distributable reserves | 133 | €226,238 | €277,303 | +€51,064 | +22.6% |
| Amounts payable | 17/49 | €3,544,463 | €4,829,464 | +€1.3m | +36.3% |
| Amounts payable after more than one year | 17 | €200,102 | €83,594 | -€116,508 | -58.2% |
| Financial debts | 170/4 | €200,102 | €83,594 | -€116,508 | -58.2% |
| Amounts payable within one year | 42/48 | €3,344,361 | €4,497,895 | +€1.2m | +34.5% |
| Current portion of amounts payable after more than one year | 42 | €124,301 | €126,140 | +€1,839 | +1.5% |
| Trade debts | 44 | €1,545,007 | €1,490,687 | -€54,320 | -3.5% |
| Suppliers | 440/4 | €1,545,007 | €1,490,687 | -€54,320 | -3.5% |
| Taxes, remuneration and social security | 45 | €56,905 | €80,527 | +€23,622 | +41.5% |
| Taxes | 450/3 | €32,847 | €37,477 | +€4,630 | +14.1% |
| Remuneration and social security | 454/9 | €24,058 | €43,050 | +€18,992 | +78.9% |
| Other amounts payable | 47/48 | €1,618,149 | €2,800,542 | +€1.2m | +73.1% |
| Accrued charges and deferred income | 492/3 | - | €247,976 | +€247,976 | |
| Remuneration, social security and pensions | 62 | €374,558 | €457,585 | +€83,026 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,017 | €225,681 | +€29,664 | +15.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €69,992 | -€2,527 | -€72,520 | |
| Other operating charges | 640/8 | €18,535 | €17,248 | -€1,287 | -6.9% |
| Gross operating margin | 9900 | €2,308,291 | €3,073,783 | +€765,492 | +33.2% |
| Operating profit (loss) | 9901 | €1,649,189 | €2,375,796 | +€726,607 | +44.1% |
| Financial income | 75/76B | €547 | €27,548 | +€27,001 | +4932.3% |
| Recurring financial income | 75 | €547 | €27,548 | +€27,001 | +4932.3% |
| Financial charges | 65/66B | €12,905 | €13,157 | +€252 | +1.9% |
| Recurring financial charges | 65 | €12,905 | €13,157 | +€252 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €1,636,831 | €2,390,188 | +€753,357 | +46.0% |
| Income taxes | 67/77 | €25,077 | €38,304 | +€13,227 | +52.7% |
| Profit (loss) for the period | 9904 | €1,611,755 | €2,351,884 | +€740,130 | +45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,611,755 | €2,351,884 | +€740,130 | +45.9% |
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 10 October 2026 via checked.be.