S. Cayet: 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.
S. Cayet
Largest movements
- Cash +€4,128
up €4,128 (+109%), from €3,785 to €7,913
mainly Net result for the year (+€15,186) and Depreciation (+€2,668)
- Tangible fixed assets -€2,668
down €2,668 (-100%), from €2,668 to €0
- Profit (loss) carried forward +€15,186
up €15,186 (+58.0%), from €26,201 to €41,387
- Debts after one year -€10,714
down €10,714 (-50.0%), from €21,429 to €10,714
- Current portion of long-term debt -€2,106
down €2,106 (-16.4%), from €12,820 to €10,714
- Gross operating margin -€6,282
down €6,282 (-20.5%), from €30,642 to €24,360
- Depreciation -€2,427
down €2,427 (-47.6%), from €5,095 to €2,668
- Taxes -€993
down €993 (-17.3%), from €5,733 to €4,740
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 | €132,290 | €135,039 | +€2,748 | +2.1% |
| Fixed assets | 21/28 | €127,668 | €125,000 | -€2,668 | -2.1% |
| Tangible fixed assets | 22/27 | €2,668 | €0 | -€2,668 | -100% |
| Furniture and vehicles | 24 | €2,668 | €0 | -€2,668 | -100% |
| Financial fixed assets | 28 | €125,000 | €125,000 | = | 0.0% |
| Current assets | 29/58 | €4,623 | €10,039 | +€5,416 | +117% |
| Amounts receivable within one year | 40/41 | €0 | €1,260 | +€1,260 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €1,260 | +€1,260 | |
| Cash at bank and in hand | 54/58 | €3,785 | €7,913 | +€4,128 | +109% |
| Deferred charges and accrued income | 490/1 | €838 | €866 | +€28 | +3.4% |
| Total equity and liabilities | 10/49 | €132,290 | €135,039 | +€2,748 | +2.1% |
| Equity | 10/15 | €76,201 | €91,387 | +€15,186 | +19.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,201 | €41,387 | +€15,186 | +58.0% |
| Amounts payable | 17/49 | €56,089 | €43,652 | -€12,437 | -22.2% |
| Amounts payable after more than one year | 17 | €21,429 | €10,714 | -€10,714 | -50.0% |
| Financial debts | 170/4 | €21,429 | €10,714 | -€10,714 | -50.0% |
| Amounts payable within one year | 42/48 | €34,661 | €32,938 | -€1,723 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €12,820 | €10,714 | -€2,106 | -16.4% |
| Trade debts | 44 | €205 | €809 | +€603 | +294% |
| Suppliers | 440/4 | €205 | €809 | +€603 | +294% |
| Taxes, remuneration and social security | 45 | €5,472 | €5,238 | -€234 | -4.3% |
| Taxes | 450/3 | €5,472 | €5,238 | -€234 | -4.3% |
| Other amounts payable | 47/48 | €16,163 | €16,177 | +€13 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,095 | €2,668 | -€2,427 | -47.6% |
| Other operating charges | 640/8 | €1,112 | €1,144 | +€32 | +2.8% |
| Gross operating margin | 9900 | €30,642 | €24,360 | -€6,282 | -20.5% |
| Operating profit (loss) | 9901 | €24,435 | €20,549 | -€3,886 | -15.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €775 | €623 | -€152 | -19.6% |
| Recurring financial charges | 65 | €775 | €623 | -€152 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €23,660 | €19,926 | -€3,734 | -15.8% |
| Income taxes | 67/77 | €5,733 | €4,740 | -€993 | -17.3% |
| Profit (loss) for the period | 9904 | €17,927 | €15,186 | -€2,741 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,927 | €15,186 | -€2,741 | -15.3% |
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 22 October 2026 via checked.be.