CAIMAN: 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.
CAIMAN
Largest movements
- Cash +€17,866
up €17,866 (+57.1%), from €31,311 to €49,177
mainly Net result for the year (+€12,814) and Depreciation (+€6,291)
- Tangible fixed assets -€3,608
down €3,608 (-30.6%), from €11,781 to €8,174
of which Furniture and vehicles: -€5,425
- Receivables within one year +€1,365
up €1,365 (+5.4%), from €25,147 to €26,512
of which Trade receivables: +€1,889
- Reserves +€11,081
up €11,081 (+35.6%), from €31,097 to €42,178
- Tax, wage and social debts +€5,380
up €5,380 (+190%), from €2,838 to €8,218
of which Remuneration and social security: +€4,550
- Accrued charges and deferred income -€1,308
down €1,308 (-8.6%), from €15,274 to €13,966
- Gross operating margin +€7,003
up €7,003 (+40.7%), from €17,195 to €24,197
- Taxes +€1,732
up €1,732 (+64.8%), from €2,672 to €4,404
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 | €71,637 | €87,862 | +€16,225 | +22.6% |
| Fixed assets | 21/28 | €11,781 | €8,174 | -€3,608 | -30.6% |
| Tangible fixed assets | 22/27 | €11,781 | €8,174 | -€3,608 | -30.6% |
| Plant, machinery and equipment | 23 | €50 | - | -€50 | |
| Furniture and vehicles | 24 | €10,455 | €5,031 | -€5,425 | -51.9% |
| Other tangible fixed assets | 26 | €1,276 | €3,143 | +€1,867 | +146% |
| Current assets | 29/58 | €59,856 | €79,688 | +€19,832 | +33.1% |
| Stocks and contracts in progress | 3 | €2,306 | €2,306 | = | 0.0% |
| Stocks | 30/36 | €2,306 | €2,306 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,147 | €26,512 | +€1,365 | +5.4% |
| Trade receivables | 40 | €24,398 | €26,286 | +€1,889 | +7.7% |
| Other amounts receivable | 41 | €750 | €226 | -€524 | -69.9% |
| Cash at bank and in hand | 54/58 | €31,311 | €49,177 | +€17,866 | +57.1% |
| Deferred charges and accrued income | 490/1 | €1,092 | €1,693 | +€602 | +55.1% |
| Total equity and liabilities | 10/49 | €71,637 | €87,862 | +€16,225 | +22.6% |
| Equity | 10/15 | €51,097 | €62,178 | +€11,081 | +21.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €31,097 | €42,178 | +€11,081 | +35.6% |
| Distributable reserves | 133 | €31,097 | €42,178 | +€11,081 | +35.6% |
| Amounts payable | 17/49 | €20,540 | €25,683 | +€5,144 | +25.0% |
| Amounts payable within one year | 42/48 | €5,266 | €11,717 | +€6,452 | +123% |
| Trade debts | 44 | €739 | €977 | +€238 | +32.2% |
| Suppliers | 440/4 | €739 | €977 | +€238 | +32.2% |
| Taxes, remuneration and social security | 45 | €2,838 | €8,218 | +€5,380 | +190% |
| Taxes | 450/3 | €2,838 | €3,668 | +€830 | +29.2% |
| Remuneration and social security | 454/9 | - | €4,550 | +€4,550 | |
| Other amounts payable | 47/48 | €1,689 | €2,523 | +€834 | +49.4% |
| Accrued charges and deferred income | 492/3 | €15,274 | €13,966 | -€1,308 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,485 | €6,291 | -€194 | -3.0% |
| Other operating charges | 640/8 | €565 | €563 | -€2 | -0.3% |
| Gross operating margin | 9900 | €17,195 | €24,197 | +€7,003 | +40.7% |
| Operating profit (loss) | 9901 | €10,145 | €17,343 | +€7,198 | +70.9% |
| Financial income | 75/76B | €4 | €4 | -€0 | -7.8% |
| Recurring financial income | 75 | €4 | €4 | -€0 | -7.8% |
| Financial charges | 65/66B | €119 | €130 | +€10 | +8.5% |
| Recurring financial charges | 65 | €119 | €130 | +€10 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €10,030 | €17,218 | +€7,187 | +71.7% |
| Income taxes | 67/77 | €2,672 | €4,404 | +€1,732 | +64.8% |
| Profit (loss) for the period | 9904 | €7,359 | €12,814 | +€5,455 | +74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,359 | €12,814 | +€5,455 | +74.1% |
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 15 October 2026 via checked.be.