CAR LINK: 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.
CAR LINK
Largest movements
- Tangible fixed assets -€82,223
down €82,223 (-9.3%), from €888,699 to €806,475
of which Land and buildings: -€70,125
- Cash -€63,297
down €63,297 (-47.9%), from €132,209 to €68,912
- Receivables within one year -€25,670
down €25,670 (-16.0%), from €160,255 to €134,585
of which Trade receivables: -€47,324
- Profit (loss) carried forward -€126,624
down €126,624 (-11.7%), from €1.1m to €959,561
- Trade debts -€31,299
down €31,299 (-66.9%), from €46,752 to €15,453
- Gross operating margin -€109,310
down €109,310, from €106,566 to -€2,744
- Other operating charges +€43,912
up €43,912 (+844%), from €5,204 to €49,116
- Taxes -€42,692
down €42,692 (-99.7%), from €42,817 to €125
- Depreciation -€4,883
down €4,883 (-11.2%), from €43,720 to €38,837
- Financial income +€3,636
up €3,636 (+120%), from €3,019 to €6,655
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,181,445 | €1,009,972 | -€171,472 | -14.5% |
| Fixed assets | 21/28 | €888,699 | €806,475 | -€82,223 | -9.3% |
| Tangible fixed assets | 22/27 | €888,699 | €806,475 | -€82,223 | -9.3% |
| Land and buildings | 22 | €876,600 | €806,475 | -€70,125 | -8.0% |
| Furniture and vehicles | 24 | €12,098 | - | -€12,098 | |
| Current assets | 29/58 | €292,746 | €203,497 | -€89,249 | -30.5% |
| Amounts receivable within one year | 40/41 | €160,255 | €134,585 | -€25,670 | -16.0% |
| Trade receivables | 40 | €47,324 | - | -€47,324 | |
| Other amounts receivable | 41 | €112,931 | €134,585 | +€21,654 | +19.2% |
| Cash at bank and in hand | 54/58 | €132,209 | €68,912 | -€63,297 | -47.9% |
| Deferred charges and accrued income | 490/1 | €282 | - | -€282 | |
| Total equity and liabilities | 10/49 | €1,181,445 | €1,009,972 | -€171,472 | -14.5% |
| Equity | 10/15 | €1,120,903 | €994,279 | -€126,624 | -11.3% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,731 | €3,731 | = | 0.0% |
| Distributable reserves | 133 | €3,731 | €3,731 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,086,185 | €959,561 | -€126,624 | -11.7% |
| Amounts payable | 17/49 | €60,542 | €15,694 | -€44,848 | -74.1% |
| Amounts payable after more than one year | 17 | €2,526 | - | -€2,526 | |
| Financial debts | 170/4 | €2,526 | - | -€2,526 | |
| Amounts payable within one year | 42/48 | €58,016 | €15,694 | -€42,323 | -72.9% |
| Current portion of amounts payable after more than one year | 42 | €3,667 | - | -€3,667 | |
| Trade debts | 44 | €46,752 | €15,453 | -€31,299 | -66.9% |
| Suppliers | 440/4 | €46,752 | €15,453 | -€31,299 | -66.9% |
| Taxes, remuneration and social security | 45 | €7,597 | €240 | -€7,357 | -96.8% |
| Taxes | 450/3 | €7,597 | €240 | -€7,357 | -96.8% |
| Non-recurring operating income | 76A | €140,914 | €1,276 | -€139,638 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,720 | €38,837 | -€4,883 | -11.2% |
| Other operating charges | 640/8 | €5,204 | €49,116 | +€43,912 | +844% |
| Gross operating margin | 9900 | €106,566 | -€2,744 | -€109,310 | |
| Operating profit (loss) | 9901 | €57,642 | -€90,697 | -€148,339 | |
| Financial income | 75/76B | €3,019 | €6,655 | +€3,636 | +120% |
| Recurring financial income | 75 | €3,019 | €6,655 | +€3,636 | +120% |
| Financial charges | 65/66B | €367 | €120 | -€247 | -67.3% |
| Recurring financial charges | 65 | €367 | €120 | -€247 | -67.3% |
| Profit (loss) for the period before taxes | 9903 | €60,294 | -€84,162 | -€144,456 | |
| Income taxes | 67/77 | €42,817 | €125 | -€42,692 | -99.7% |
| Profit (loss) for the period | 9904 | €17,477 | -€84,288 | -€101,764 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,477 | -€84,288 | -€101,764 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.