CAR EXCEPTION: 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.
CAR EXCEPTION
Largest movements
- Stocks and contracts +€69,592
up €69,592 (+46.4%), from €150,010 to €219,602
- Cash -€22,551
down €22,551 (-21.1%), from €107,022 to €84,471
mainly Stocks and contracts (-€69,592) and Advances received (-€25,000)
- Receivables within one year +€12,115
up €12,115 (+140.3%), from €8,634 to €20,749
of which Other amounts receivable: +€12,115
- Tangible fixed assets +€5,595
up €5,595 (+29.6%), from €18,885 to €24,480
of which Plant, machinery and equipment: +€3,326
- Reserves +€58,584
up €58,584 (+63.2%), from €92,769 to €151,353
of which Distributable reserves: +€58,584
- Tax, wage and social debts +€28,543
up €28,543 (+43.9%), from €65,003 to €93,545
- Advances received -€25,000
down €25,000 (-96.2%), from €26,000 to €1,000
- Gross operating margin -€85,929
down €85,929 (-45.5%), from €189,016 to €103,087
- Taxes -€26,080
down €26,080 (-45.8%), from €56,942 to €30,862
- Other operating charges +€2,442
up €2,442 (+3085.7%), from €79 to €2,521
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 | €285,865 | €349,302 | +€63,437 | +22.2% |
| Fixed assets | 21/28 | €18,885 | €24,480 | +€5,595 | +29.6% |
| Tangible fixed assets | 22/27 | €18,885 | €24,480 | +€5,595 | +29.6% |
| Plant, machinery and equipment | 23 | - | €3,326 | +€3,326 | |
| Furniture and vehicles | 24 | €18,885 | €21,154 | +€2,269 | +12.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €266,980 | €324,821 | +€57,841 | +21.7% |
| Stocks and contracts in progress | 3 | €150,010 | €219,602 | +€69,592 | +46.4% |
| Stocks | 30/36 | €150,010 | €219,602 | +€69,592 | +46.4% |
| Amounts receivable within one year | 40/41 | €8,634 | €20,749 | +€12,115 | +140.3% |
| Trade receivables | 40 | €8,634 | €8,634 | = | 0.0% |
| Other amounts receivable | 41 | - | €12,115 | +€12,115 | |
| Cash at bank and in hand | 54/58 | €107,022 | €84,471 | -€22,551 | -21.1% |
| Deferred charges and accrued income | 490/1 | €1,314 | - | -€1,314 | |
| Total equity and liabilities | 10/49 | €285,865 | €349,302 | +€63,437 | +22.2% |
| Equity | 10/15 | €182,437 | €241,021 | +€58,584 | +32.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €92,769 | €151,353 | +€58,584 | +63.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €90,909 | €149,493 | +€58,584 | +64.4% |
| Profit (loss) carried forward | 14 | €83,468 | €83,468 | = | 0.0% |
| Amounts payable | 17/49 | €103,428 | €108,281 | +€4,853 | +4.7% |
| Amounts payable within one year | 42/48 | €103,428 | €108,281 | +€4,853 | +4.7% |
| Trade debts | 44 | €4,429 | €6,154 | +€1,726 | +39.0% |
| Suppliers | 440/4 | €4,429 | €6,154 | +€1,726 | +39.0% |
| Advances received on contracts in progress | 46 | €26,000 | €1,000 | -€25,000 | -96.2% |
| Taxes, remuneration and social security | 45 | €65,003 | €93,545 | +€28,543 | +43.9% |
| Taxes | 450/3 | €65,003 | €93,545 | +€28,543 | +43.9% |
| Other amounts payable | 47/48 | €7,997 | €7,581 | -€416 | -5.2% |
| Remuneration, social security and pensions | 62 | €747 | €400 | -€347 | -46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,193 | €10,071 | +€878 | +9.6% |
| Other operating charges | 640/8 | €79 | €2,521 | +€2,442 | +3085.7% |
| Non-recurring operating charges | 66A | €2,200 | - | -€2,200 | |
| Gross operating margin | 9900 | €189,016 | €103,087 | -€85,929 | -45.5% |
| Operating profit (loss) | 9901 | €176,796 | €90,095 | -€86,702 | -49.0% |
| Financial income | 75/76B | €56 | €94 | +€38 | +68.4% |
| Recurring financial income | 75 | €56 | €94 | +€38 | +68.4% |
| Financial charges | 65/66B | €205 | €742 | +€537 | +261.5% |
| Recurring financial charges | 65 | €205 | €742 | +€537 | +261.5% |
| Profit (loss) for the period before taxes | 9903 | €176,647 | €89,447 | -€87,201 | -49.4% |
| Income taxes | 67/77 | €56,942 | €30,862 | -€26,080 | -45.8% |
| Profit (loss) for the period | 9904 | €119,705 | €58,584 | -€61,121 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €119,705 | €58,584 | -€61,121 | -51.1% |
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 2 October 2026 via checked.be.