DR. CASAER ELKE: 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.
DR. CASAER ELKE
Largest movements
- Tangible fixed assets -€17,106
down €17,106 (-10.7%), from €160,333 to €143,227
of which Land and buildings: -€16,507
- Cash -€11,593
down €11,593 (-50.1%), from €23,163 to €11,569
mainly Contributions, distributions and other (-€115,575) and Debts after one year (-€25,437)
- Receivables within one year -€6,108
down €6,108 (-3.1%), from €199,384 to €193,276
of which Trade receivables: -€3,208
- Reserves -€32,217
down €32,217 (-17.1%), from €188,577 to €156,360
of which Distributable reserves: -€32,217
- Debts after one year -€25,437
down €25,437 (-29.8%), from €85,226 to €59,789
- Tax, wage and social debts +€9,327
up €9,327 (+48.6%), from €19,193 to €28,520
- Other debts +€7,304
up €7,304 (+21.8%), from €33,572 to €40,876
- Current portion of long-term debt +€4,100
up €4,100 (+16.6%), from €24,679 to €28,779
- Financial income +€2,397
up €2,397 (+23.9%), from €10,026 to €12,423
- Taxes +€1,333
up €1,333 (+6.7%), from €19,871 to €21,204
- Financial charges -€1,294
down €1,294 (-19.9%), from €6,509 to €5,215
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 | €399,880 | €362,108 | -€37,772 | -9.4% |
| Fixed assets | 21/28 | €160,333 | €143,227 | -€17,106 | -10.7% |
| Tangible fixed assets | 22/27 | €160,333 | €143,227 | -€17,106 | -10.7% |
| Land and buildings | 22 | €159,697 | €143,190 | -€16,507 | -10.3% |
| Plant, machinery and equipment | 23 | €479 | - | -€479 | |
| Furniture and vehicles | 24 | €157 | €37 | -€120 | -76.4% |
| Current assets | 29/58 | €239,547 | €218,881 | -€20,665 | -8.6% |
| Amounts receivable within one year | 40/41 | €199,384 | €193,276 | -€6,108 | -3.1% |
| Trade receivables | 40 | €3,484 | €276 | -€3,208 | -92.1% |
| Other amounts receivable | 41 | €195,900 | €193,000 | -€2,900 | -1.5% |
| Cash at bank and in hand | 54/58 | €23,163 | €11,569 | -€11,593 | -50.1% |
| Deferred charges and accrued income | 490/1 | €17,000 | €14,037 | -€2,964 | -17.4% |
| Total equity and liabilities | 10/49 | €399,880 | €362,108 | -€37,772 | -9.4% |
| Equity | 10/15 | €230,343 | €198,126 | -€32,217 | -14.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €188,577 | €156,360 | -€32,217 | -17.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €186,717 | €154,500 | -€32,217 | -17.3% |
| Profit (loss) carried forward | 14 | €29,366 | €29,366 | = | 0.0% |
| Amounts payable | 17/49 | €169,537 | €163,982 | -€5,555 | -3.3% |
| Amounts payable after more than one year | 17 | €85,226 | €59,789 | -€25,437 | -29.8% |
| Financial debts | 170/4 | €85,226 | €59,789 | -€25,437 | -29.8% |
| Amounts payable within one year | 42/48 | €84,311 | €104,194 | +€19,882 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €24,679 | €28,779 | +€4,100 | +16.6% |
| Trade debts | 44 | €6,867 | €6,019 | -€848 | -12.4% |
| Suppliers | 440/4 | €6,867 | €6,019 | -€848 | -12.4% |
| Taxes, remuneration and social security | 45 | €19,193 | €28,520 | +€9,327 | +48.6% |
| Taxes | 450/3 | €19,193 | €28,520 | +€9,327 | +48.6% |
| Other amounts payable | 47/48 | €33,572 | €40,876 | +€7,304 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,862 | €17,106 | -€756 | -4.2% |
| Other operating charges | 640/8 | €2,090 | €2,004 | -€86 | -4.1% |
| Gross operating margin | 9900 | €116,953 | €116,464 | -€489 | -0.4% |
| Operating profit (loss) | 9901 | €97,001 | €97,354 | +€353 | +0.4% |
| Financial income | 75/76B | €10,026 | €12,423 | +€2,397 | +23.9% |
| Recurring financial income | 75 | €10,026 | €12,423 | +€2,397 | +23.9% |
| Financial charges | 65/66B | €6,509 | €5,215 | -€1,294 | -19.9% |
| Recurring financial charges | 65 | €6,509 | €5,215 | -€1,294 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €100,518 | €104,563 | +€4,045 | +4.0% |
| Income taxes | 67/77 | €19,871 | €21,204 | +€1,333 | +6.7% |
| Profit (loss) for the period | 9904 | €80,647 | €83,359 | +€2,712 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,647 | €83,359 | +€2,712 | +3.4% |
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 8 October 2026 via checked.be.