D. CASTEELS: 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.
D. CASTEELS
Largest movements
- Cash +€9,104
up €9,104 (+5.3%), from €172,735 to €181,839
mainly Trade debts (+€12,322) and Depreciation (+€3,910)
- Receivables within one year +€3,696
up €3,696 (+7.3%), from €50,709 to €54,405
of which Other amounts receivable: +€4,086
- Tangible fixed assets -€2,832
down €2,832 (-13.1%), from €21,556 to €18,724
of which Plant, machinery and equipment: -€2,832
- Trade debts +€12,322
up €12,322 (+213.2%), from €5,779 to €18,101
- Tax, wage and social debts -€6,357
down €6,357 (-41.5%), from €15,331 to €8,974
of which Remuneration and social security: -€7,621
- Profit (loss) carried forward +€3,127
up €3,127, from -€172 to €2,955
- Gross operating margin +€5,780
up €5,780 (+44.7%), from €12,937 to €18,717
- Other operating charges +€4,670
up €4,670 (+87.8%), from €5,318 to €9,988
- Taxes -€2,863
down €2,863 (-63.2%), from €4,527 to €1,664
- Financial charges -€599
down €599 (-95.4%), from €628 to €29
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 | €259,863 | €269,831 | +€9,968 | +3.8% |
| Fixed assets | 21/28 | €21,606 | €18,774 | -€2,832 | -13.1% |
| Tangible fixed assets | 22/27 | €21,556 | €18,724 | -€2,832 | -13.1% |
| Plant, machinery and equipment | 23 | €21,556 | €18,724 | -€2,832 | -13.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €238,257 | €251,057 | +€12,800 | +5.4% |
| Amounts receivable after more than one year | 29 | €14,504 | €14,504 | = | 0.0% |
| Other amounts receivable | 291 | €14,504 | €14,504 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,709 | €54,405 | +€3,696 | +7.3% |
| Trade receivables | 40 | €13,923 | €13,533 | -€390 | -2.8% |
| Other amounts receivable | 41 | €36,787 | €40,872 | +€4,086 | +11.1% |
| Cash at bank and in hand | 54/58 | €172,735 | €181,839 | +€9,104 | +5.3% |
| Deferred charges and accrued income | 490/1 | €309 | €309 | = | 0.0% |
| Total equity and liabilities | 10/49 | €259,863 | €269,831 | +€9,968 | +3.8% |
| Equity | 10/15 | €222,249 | €225,375 | +€3,127 | +1.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €201,969 | €201,969 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,160 | €23,160 | = | 0.0% |
| Distributable reserves | 133 | €178,809 | €178,809 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172 | €2,955 | +€3,127 | |
| Amounts payable | 17/49 | €37,614 | €44,456 | +€6,842 | +18.2% |
| Amounts payable within one year | 42/48 | €37,614 | €44,456 | +€6,842 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €1,343 | €3,717 | +€2,373 | +176.7% |
| Trade debts | 44 | €5,779 | €18,101 | +€12,322 | +213.2% |
| Suppliers | 440/4 | €5,779 | €18,101 | +€12,322 | +213.2% |
| Taxes, remuneration and social security | 45 | €15,331 | €8,974 | -€6,357 | -41.5% |
| Taxes | 450/3 | €6,826 | €8,090 | +€1,264 | +18.5% |
| Remuneration and social security | 454/9 | €8,506 | €885 | -€7,621 | -89.6% |
| Other amounts payable | 47/48 | €15,161 | €13,664 | -€1,497 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,818 | €3,910 | +€92 | +2.4% |
| Other operating charges | 640/8 | €5,318 | €9,988 | +€4,670 | +87.8% |
| Gross operating margin | 9900 | €12,937 | €18,717 | +€5,780 | +44.7% |
| Operating profit (loss) | 9901 | €3,801 | €4,820 | +€1,018 | +26.8% |
| Financial charges | 65/66B | €628 | €29 | -€599 | -95.4% |
| Recurring financial charges | 65 | €628 | €29 | -€599 | -95.4% |
| Profit (loss) for the period before taxes | 9903 | €3,173 | €4,791 | +€1,618 | +51.0% |
| Income taxes | 67/77 | €4,527 | €1,664 | -€2,863 | -63.2% |
| Profit (loss) for the period | 9904 | -€1,354 | €3,127 | +€4,481 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,354 | €3,127 | +€4,481 |
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.