CAZIMIRO: 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.
CAZIMIRO
Largest movements
- Tangible fixed assets -€69,638
down €69,638 (-5.2%), from €1.4m to €1.3m
- Debts after one year -€69,864
down €69,864 (-5.7%), from €1.2m to €1.1m
of which Financial debts: -€59,287
- Financial charges +€3,580
up €3,580 (+9.6%), from €37,441 to €41,022
- Other operating charges +€2,972
up €2,972 (+48.5%), from €6,126 to €9,098
- Gross operating margin +€1,779
up €1,779 (+1.5%), from €119,524 to €121,303
- Taxes -€1,321
down €1,321 (-57.8%), from €2,284 to €963
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 | €1,422,164 | €1,342,096 | -€80,068 | -5.6% |
| Fixed assets | 21/28 | €1,351,162 | €1,281,524 | -€69,638 | -5.2% |
| Tangible fixed assets | 22/27 | €1,351,162 | €1,281,524 | -€69,638 | -5.2% |
| Land and buildings | 22 | €1,351,162 | €1,281,524 | -€69,638 | -5.2% |
| Current assets | 29/58 | €71,002 | €60,572 | -€10,430 | -14.7% |
| Amounts receivable within one year | 40/41 | €18,989 | €19,793 | +€804 | +4.2% |
| Trade receivables | 40 | €18,078 | €18,758 | +€680 | +3.8% |
| Other amounts receivable | 41 | €911 | €1,035 | +€124 | +13.6% |
| Cash at bank and in hand | 54/58 | €1,989 | €1,934 | -€55 | -2.8% |
| Deferred charges and accrued income | 490/1 | €50,024 | €38,844 | -€11,180 | -22.3% |
| Total equity and liabilities | 10/49 | €1,422,164 | €1,342,096 | -€80,068 | -5.6% |
| Equity | 10/15 | €76,295 | €75,908 | -€388 | -0.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €71,170 | €71,170 | = | 0.0% |
| Distributable reserves | 133 | €71,170 | €71,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,125 | €3,737 | -€388 | -9.4% |
| Amounts payable | 17/49 | €1,345,869 | €1,266,188 | -€79,681 | -5.9% |
| Amounts payable after more than one year | 17 | €1,219,074 | €1,149,211 | -€69,864 | -5.7% |
| Financial debts | 170/4 | €970,644 | €911,356 | -€59,287 | -6.1% |
| Other amounts payable | 178/9 | €248,431 | €237,854 | -€10,577 | -4.3% |
| Amounts payable within one year | 42/48 | €126,674 | €116,978 | -€9,697 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €72,092 | €80,713 | +€8,621 | +12.0% |
| Financial debts | 43 | €14,000 | - | -€14,000 | |
| Other loans | 439 | €14,000 | - | -€14,000 | |
| Trade debts | 44 | €19,129 | €15,793 | -€3,336 | -17.4% |
| Suppliers | 440/4 | €19,129 | €15,793 | -€3,336 | -17.4% |
| Taxes, remuneration and social security | 45 | €21,454 | €20,472 | -€982 | -4.6% |
| Taxes | 450/3 | €21,454 | €20,472 | -€982 | -4.6% |
| Accrued charges and deferred income | 492/3 | €120 | - | -€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,548 | €70,608 | +€1,061 | +1.5% |
| Other operating charges | 640/8 | €6,126 | €9,098 | +€2,972 | +48.5% |
| Gross operating margin | 9900 | €119,524 | €121,303 | +€1,779 | +1.5% |
| Operating profit (loss) | 9901 | €43,850 | €41,597 | -€2,254 | -5.1% |
| Financial charges | 65/66B | €37,441 | €41,022 | +€3,580 | +9.6% |
| Recurring financial charges | 65 | €37,441 | €41,022 | +€3,580 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €6,409 | €575 | -€5,834 | -91.0% |
| Income taxes | 67/77 | €2,284 | €963 | -€1,321 | -57.8% |
| Profit (loss) for the period | 9904 | €4,125 | -€388 | -€4,513 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,125 | -€388 | -€4,513 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.