CAR S: 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 S
Largest movements
- Cash -€89,886
down €89,886 (-69.1%), from €130,146 to €40,260
mainly Receivables within one year (-€67,098) and Tax, wage and social debts (-€33,669)
- Receivables within one year +€67,098
up €67,098 (+46.6%), from €143,987 to €211,085
of which Trade receivables: +€56,920
- Tangible fixed assets -€20,133
down €20,133 (-29.8%), from €67,590 to €47,457
of which Furniture and vehicles: -€12,664
- Stocks and contracts +€17,732
up €17,732 (+27.6%), from €64,340 to €82,072
- Tax, wage and social debts -€33,669
down €33,669 (-30.9%), from €108,916 to €75,247
of which Taxes: -€26,629
- Accrued charges and deferred income +€20,627
up €20,627 (+39.2%), from €52,600 to €73,227
- Debts after one year -€11,454
down €11,454 (-43.7%), from €26,224 to €14,770
- Other debts -€11,400
down €11,400 (-99.2%), from €11,494 to €95
- Trade debts +€6,721
up €6,721 (+11.9%), from €56,469 to €63,190
- Gross operating margin -€48,394
down €48,394 (-12.0%), from €403,906 to €355,512
- Taxes -€14,734
down €14,734 (-75.3%), from €19,556 to €4,822
- Staff costs -€5,245
down €5,245 (-1.7%), from €304,278 to €299,033
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 | €416,800 | €394,822 | -€21,978 | -5.3% |
| Fixed assets | 21/28 | €70,865 | €50,731 | -€20,133 | -28.4% |
| Tangible fixed assets | 22/27 | €67,590 | €47,457 | -€20,133 | -29.8% |
| Plant, machinery and equipment | 23 | €7,213 | €3,919 | -€3,294 | -45.7% |
| Furniture and vehicles | 24 | €40,026 | €27,362 | -€12,664 | -31.6% |
| Other tangible fixed assets | 26 | €20,351 | €16,175 | -€4,176 | -20.5% |
| Financial fixed assets | 28 | €3,274 | €3,274 | = | 0.0% |
| Current assets | 29/58 | €345,935 | €344,091 | -€1,844 | -0.5% |
| Stocks and contracts in progress | 3 | €64,340 | €82,072 | +€17,732 | +27.6% |
| Stocks | 30/36 | €64,340 | €82,072 | +€17,732 | +27.6% |
| Amounts receivable within one year | 40/41 | €143,987 | €211,085 | +€67,098 | +46.6% |
| Trade receivables | 40 | €143,987 | €200,907 | +€56,920 | +39.5% |
| Other amounts receivable | 41 | - | €10,178 | +€10,178 | |
| Cash at bank and in hand | 54/58 | €130,146 | €40,260 | -€89,886 | -69.1% |
| Deferred charges and accrued income | 490/1 | €7,462 | €10,674 | +€3,212 | +43.0% |
| Total equity and liabilities | 10/49 | €416,800 | €394,822 | -€21,978 | -5.3% |
| Equity | 10/15 | €145,867 | €147,816 | +€1,949 | +1.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,241 | €2,241 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €382 | €382 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,034 | €126,983 | +€1,949 | +1.6% |
| Amounts payable | 17/49 | €270,933 | €247,006 | -€23,927 | -8.8% |
| Amounts payable after more than one year | 17 | €26,224 | €14,770 | -€11,454 | -43.7% |
| Financial debts | 170/4 | €26,224 | €14,770 | -€11,454 | -43.7% |
| Amounts payable within one year | 42/48 | €192,108 | €159,009 | -€33,100 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €15,229 | €20,427 | +€5,197 | +34.1% |
| Trade debts | 44 | €56,469 | €63,190 | +€6,721 | +11.9% |
| Suppliers | 440/4 | €56,469 | €63,190 | +€6,721 | +11.9% |
| Advances received on contracts in progress | 46 | - | €50 | +€50 | |
| Taxes, remuneration and social security | 45 | €108,916 | €75,247 | -€33,669 | -30.9% |
| Taxes | 450/3 | €59,043 | €32,413 | -€26,629 | -45.1% |
| Remuneration and social security | 454/9 | €49,873 | €42,834 | -€7,039 | -14.1% |
| Other amounts payable | 47/48 | €11,494 | €95 | -€11,400 | -99.2% |
| Accrued charges and deferred income | 492/3 | €52,600 | €73,227 | +€20,627 | +39.2% |
| Remuneration, social security and pensions | 62 | €304,278 | €299,033 | -€5,245 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,524 | €20,133 | +€3,609 | +21.8% |
| Other operating charges | 640/8 | €19,334 | €18,776 | -€558 | -2.9% |
| Non-recurring operating charges | 66A | €5,346 | €2,858 | -€2,488 | -46.5% |
| Gross operating margin | 9900 | €403,906 | €355,512 | -€48,394 | -12.0% |
| Operating profit (loss) | 9901 | €58,425 | €14,712 | -€43,713 | -74.8% |
| Financial income | 75/76B | €2,286 | - | -€2,286 | |
| Recurring financial income | 75 | €2,286 | - | -€2,286 | |
| Financial charges | 65/66B | €4,721 | €7,941 | +€3,220 | +68.2% |
| Recurring financial charges | 65 | €4,721 | €7,904 | +€3,183 | +67.4% |
| Non-recurring financial charges | 66B | - | €37 | +€37 | |
| Profit (loss) for the period before taxes | 9903 | €55,990 | €6,771 | -€49,219 | -87.9% |
| Income taxes | 67/77 | €19,556 | €4,822 | -€14,734 | -75.3% |
| Profit (loss) for the period | 9904 | €36,434 | €1,949 | -€34,485 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,434 | €1,949 | -€34,485 | -94.7% |
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 21 October 2026 via checked.be.