LES CAUSANTES: 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.
LES CAUSANTES
Largest movements
- Receivables within one year -€32,858
down €32,858 (-8.0%), from €409,966 to €377,108
of which Other amounts receivable: -€16,448
- Cash -€18,931
down €18,931 (-24.0%), from €78,922 to €59,991
mainly Trade debts (-€31,787) and Net result for the year (-€21,444)
- Trade debts -€31,787
down €31,787 (-56.2%), from €56,554 to €24,767
- Profit (loss) carried forward -€21,444
down €21,444 (-5.2%), from €408,770 to €387,326
- Gross operating margin -€28,435
down €28,435 (-55.7%), from €51,047 to €22,612
- Staff costs +€6,430
up €6,430 (+17.4%), from €37,019 to €43,449
- Taxes -€1,504
no longer reported in 2025 (was €1,504)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €490,332 | €438,266 | -€52,066 | -10.6% |
| Fixed assets | 21/28 | €1,227 | €615 | -€612 | -49.9% |
| Tangible fixed assets | 22/27 | €559 | €165 | -€394 | -70.5% |
| Furniture and vehicles | 24 | €559 | €165 | -€394 | -70.5% |
| Financial fixed assets | 28 | €668 | €450 | -€218 | -32.6% |
| Current assets | 29/58 | €489,105 | €437,650 | -€51,454 | -10.5% |
| Amounts receivable within one year | 40/41 | €409,966 | €377,108 | -€32,858 | -8.0% |
| Trade receivables | 40 | €62,446 | €46,035 | -€16,410 | -26.3% |
| Other amounts receivable | 41 | €347,521 | €331,073 | -€16,448 | -4.7% |
| Cash at bank and in hand | 54/58 | €78,922 | €59,991 | -€18,931 | -24.0% |
| Deferred charges and accrued income | 490/1 | €217 | €552 | +€335 | +154% |
| Total equity and liabilities | 10/49 | €490,332 | €438,266 | -€52,066 | -10.6% |
| Equity | 10/15 | €427,420 | €405,976 | -€21,444 | -5.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €17,650 | €17,650 | = | 0.0% |
| Distributable reserves | 133 | €17,650 | €17,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €408,770 | €387,326 | -€21,444 | -5.2% |
| Amounts payable | 17/49 | €62,912 | €32,289 | -€30,623 | -48.7% |
| Amounts payable within one year | 42/48 | €62,682 | €32,164 | -€30,518 | -48.7% |
| Financial debts | 43 | - | €3,484 | +€3,484 | |
| Credit institutions | 430/8 | - | €3,484 | +€3,484 | |
| Trade debts | 44 | €56,554 | €24,767 | -€31,787 | -56.2% |
| Suppliers | 440/4 | €56,554 | €24,767 | -€31,787 | -56.2% |
| Taxes, remuneration and social security | 45 | €6,128 | €3,268 | -€2,860 | -46.7% |
| Taxes | 450/3 | €990 | €990 | = | 0.0% |
| Remuneration and social security | 454/9 | €5,138 | €2,278 | -€2,860 | -55.7% |
| Other amounts payable | 47/48 | - | €645 | +€645 | |
| Accrued charges and deferred income | 492/3 | €230 | €125 | -€105 | -45.7% |
| Remuneration, social security and pensions | 62 | €37,019 | €43,449 | +€6,430 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €394 | €394 | = | 0.0% |
| Other operating charges | 640/8 | €537 | €448 | -€89 | -16.6% |
| Gross operating margin | 9900 | €51,047 | €22,612 | -€28,435 | -55.7% |
| Operating profit (loss) | 9901 | €13,097 | -€21,679 | -€34,776 | |
| Financial income | 75/76B | €501 | €412 | -€89 | -17.8% |
| Recurring financial income | 75 | €501 | €412 | -€89 | -17.8% |
| Financial charges | 65/66B | €17 | €177 | +€160 | +971% |
| Recurring financial charges | 65 | €17 | €177 | +€160 | +971% |
| Profit (loss) for the period before taxes | 9903 | €13,582 | -€21,444 | -€35,025 | |
| Income taxes | 67/77 | €1,504 | - | -€1,504 | |
| Profit (loss) for the period | 9904 | €12,078 | -€21,444 | -€33,521 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,078 | -€21,444 | -€33,521 |
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 26 October 2026 via checked.be.