JM CABAY: 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.
What changed
JM CABAY
NACE 10.510, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€176,030
2024 · €293,041-€117,010
Equity
€2.1m
2024 · €1.9m+€176,030
Cash
€810,824
2024 · €1.0m-€225,349
Balance sheet total
€5.7m
2024 · €6.3m-€529,095
Largest movements
Assets
- Cash -€225,349
down €225,349 (-21.7%), from €1.0m to €810,824
mainly Short-term financial debts (-€528,796) and Trade debts (-€129,732)
- Receivables within one year -€215,491
down €215,491 (-7.9%), from €2.7m to €2.5m
of which Trade receivables: -€216,048
- Intangible fixed assets -€73,300
down €73,300 (-14.3%), from €513,100 to €439,800
Equity and liabilities
- Short-term financial debts -€528,796
down €528,796 (-100%), from €528,796 to €0
- Profit (loss) carried forward +€176,030
up €176,030 (+18.7%), from €942,530 to €1.1m
- Trade debts -€129,732
down €129,732 (-3.6%), from €3.6m to €3.5m
Income statement
- Turnover -€466,175
down €466,175 (-2.1%), from €21.9m to €21.4m
- Staff costs -€255,386
down €255,386 (-27.5%), from €929,913 to €674,527
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.
Result 2024
€293,041
Turnover
-€466,175
Other operating income
-€3,645
Goods and materials
-€9,264
Services and other goods
+€115,107
Staff costs
+€255,386
Write-downs
+€680
Other operating charges
-€42,285
Financial income
-€10,155
Financial charges
+€33,769
Taxes
+€9,572
Result 2025
€176,030
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€303,447
Investment
€0
Financing
-€528,796
Cash 2024
€1.0m
From operations (derived)
+€303,447
Net result for the year
+€176,030
Depreciation
+€73,300
Stocks and contracts
+€2,479
Receivables within one year
+€215,491
Deferred charges and accrued income
+€12,475
Trade debts
-€129,732
Tax, wage and social debts
-€60,596
Accrued charges and deferred income
+€13,998
Financing
-€528,796
Short-term financial debts
-€528,796
Cash 2025
€810,824
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,268,765 | €5,739,670 | -€529,095 | -8.4% |
| Fixed assets | 21/28 | €1,363,100 | €1,289,800 | -€73,300 | -5.4% |
| Intangible fixed assets | 21 | €513,100 | €439,800 | -€73,300 | -14.3% |
| Financial fixed assets | 28 | €850,000 | €850,000 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €850,000 | €850,000 | = | 0.0% |
| Participating interests | 282 | €850,000 | €850,000 | = | 0.0% |
| Current assets | 29/58 | €4,905,665 | €4,449,870 | -€455,795 | -9.3% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,000,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,011 | €532 | -€2,479 | -82.3% |
| Stocks | 30/36 | €3,011 | €532 | -€2,479 | -82.3% |
| Finished goods | 33 | €3,011 | €532 | -€2,479 | -82.3% |
| Amounts receivable within one year | 40/41 | €2,741,077 | €2,525,586 | -€215,491 | -7.9% |
| Trade receivables | 40 | €2,726,277 | €2,510,230 | -€216,048 | -7.9% |
| Other amounts receivable | 41 | €14,800 | €15,356 | +€556 | +3.8% |
| Cash at bank and in hand | 54/58 | €1,036,173 | €810,824 | -€225,349 | -21.7% |
| Deferred charges and accrued income | 490/1 | €125,403 | €112,928 | -€12,475 | -9.9% |
| Total equity and liabilities | 10/49 | €6,268,765 | €5,739,670 | -€529,095 | -8.4% |
| Equity | 10/15 | €1,887,132 | €2,063,162 | +€176,030 | +9.3% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Capital | 10 | €700,000 | €700,000 | = | 0.0% |
| Issued capital | 100 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €244,601 | €244,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €70,000 | €70,000 | = | 0.0% |
| Legal reserve | 130 | €70,000 | €70,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,592 | €18,592 | = | 0.0% |
| Distributable reserves | 133 | €156,009 | €156,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | €942,530 | €1,118,561 | +€176,030 | +18.7% |
| Amounts payable | 17/49 | €4,381,633 | €3,676,507 | -€705,125 | -16.1% |
| Amounts payable within one year | 42/48 | €4,378,883 | €3,659,759 | -€719,124 | -16.4% |
| Financial debts | 43 | €528,796 | €0 | -€528,796 | -100% |
| Credit institutions | 430/8 | €528,796 | €0 | -€528,796 | -100% |
| Trade debts | 44 | €3,644,043 | €3,514,311 | -€129,732 | -3.6% |
| Suppliers | 440/4 | €3,644,043 | €3,514,311 | -€129,732 | -3.6% |
| Taxes, remuneration and social security | 45 | €206,044 | €145,448 | -€60,596 | -29.4% |
| Taxes | 450/3 | €115,341 | €93,760 | -€21,581 | -18.7% |
| Remuneration and social security | 454/9 | €90,703 | €51,688 | -€39,015 | -43.0% |
| Accrued charges and deferred income | 492/3 | €2,750 | €16,748 | +€13,998 | +509% |
| Operating income | 70/76A | €21,879,488 | €21,409,668 | -€469,820 | -2.1% |
| Turnover | 70 | €21,853,937 | €21,387,762 | -€466,175 | -2.1% |
| Other operating income | 74 | €25,551 | €21,906 | -€3,645 | -14.3% |
| Operating charges | 60/66A | €21,463,256 | €21,143,633 | -€319,623 | -1.5% |
| Goods for resale, raw materials and consumables | 60 | €19,436,175 | €19,445,440 | +€9,264 | 0.0% |
| Purchases | 600/8 | €19,433,861 | €19,442,960 | +€9,099 | 0.0% |
| Change in stocks: decrease (increase) | 609 | €2,314 | €2,479 | +€165 | +7.1% |
| Services and other goods | 61 | €1,009,847 | €894,740 | -€115,107 | -11.4% |
| Remuneration, social security and pensions | 62 | €929,913 | €674,527 | -€255,386 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,300 | €73,300 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €680 | €0 | -€680 | -100% |
| Other operating charges | 640/8 | €13,342 | €55,627 | +€42,285 | +317% |
| Operating profit (loss) | 9901 | €416,232 | €266,035 | -€150,197 | -36.1% |
| Financial income | 75/76B | €60,156 | €50,001 | -€10,155 | -16.9% |
| Recurring financial income | 75 | €60,156 | €50,001 | -€10,155 | -16.9% |
| Income from current assets | 751 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Other financial income | 752/9 | €156 | €1 | -€155 | -99.4% |
| Financial charges | 65/66B | €83,017 | €49,247 | -€33,769 | -40.7% |
| Recurring financial charges | 65 | €83,017 | €49,247 | -€33,769 | -40.7% |
| Debt charges | 650 | €0 | - | = | |
| Other financial charges | 652/9 | €83,017 | €49,247 | -€33,769 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €393,371 | €266,788 | -€126,582 | -32.2% |
| Income taxes | 67/77 | €100,330 | €90,758 | -€9,572 | -9.5% |
| Taxes | 670/3 | €100,330 | €90,800 | -€9,530 | -9.5% |
| Tax adjustments and reversals of tax provisions | 77 | - | €42 | +€42 | |
| Profit (loss) for the period | 9904 | €293,041 | €176,030 | -€117,010 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €293,041 | €176,030 | -€117,010 | -39.9% |
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 20 October 2026 via checked.be.