Caracal Group: 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.
Caracal Group
Largest movements
- Financial fixed assets -€70,000
down €70,000 (-99.4%), from €70,400 to €400
- Cash -€25,586
down €25,586 (-88.2%), from €28,999 to €3,413
mainly Net result for the year (-€46,690) and Other debts (-€23,441)
- Current investments +€19,848
new in 2025: €19,848
- Tangible fixed assets -€11,371
down €11,371 (-26.7%), from €42,578 to €31,207
- Receivables within one year -€4,345
down €4,345 (-14.8%), from €29,397 to €25,052
of which Trade receivables: -€15,287
- Profit (loss) carried forward -€46,690
down €46,690, from €572 to -€46,118
- Other debts -€23,441
down €23,441 (-25.2%), from €93,155 to €69,714
- Debts after one year -€11,626
down €11,626 (-49.7%), from €23,402 to €11,776
- Tax, wage and social debts -€7,212
down €7,212 (-47.0%), from €15,351 to €8,140
- Trade debts +€4,630
up €4,630 (+72.1%), from €6,425 to €11,055
- Gross operating margin -€53,809
down €53,809 (-75.6%), from €71,196 to €17,387
- Financial charges +€42,105
up €42,105 (+734%), from €5,737 to €47,841
of which Non-recurring financial charges: +€46,210
- Taxes -€12,563
down €12,563 (-92.2%), from €13,622 to €1,058
- Depreciation +€895
up €895 (+6.6%), from €13,500 to €14,395
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 | €174,369 | €85,660 | -€88,709 | -50.9% |
| Fixed assets | 21/28 | €112,978 | €31,607 | -€81,371 | -72.0% |
| Tangible fixed assets | 22/27 | €42,578 | €31,207 | -€11,371 | -26.7% |
| Furniture and vehicles | 24 | €42,578 | €31,207 | -€11,371 | -26.7% |
| Financial fixed assets | 28 | €70,400 | €400 | -€70,000 | -99.4% |
| Current assets | 29/58 | €61,392 | €54,054 | -€7,338 | -12.0% |
| Amounts receivable within one year | 40/41 | €29,397 | €25,052 | -€4,345 | -14.8% |
| Trade receivables | 40 | €29,397 | €14,110 | -€15,287 | -52.0% |
| Other amounts receivable | 41 | - | €10,942 | +€10,942 | |
| Current investments | 50/53 | - | €19,848 | +€19,848 | |
| Cash at bank and in hand | 54/58 | €28,999 | €3,413 | -€25,586 | -88.2% |
| Deferred charges and accrued income | 490/1 | €2,996 | €5,741 | +€2,745 | +91.6% |
| Total equity and liabilities | 10/49 | €174,369 | €85,660 | -€88,709 | -50.9% |
| Equity | 10/15 | €19,413 | -€27,277 | -€46,690 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €241 | €241 | = | 0.0% |
| Non-distributable reserves | 130/1 | €241 | €241 | = | 0.0% |
| Reserves not available under the articles | 1311 | €241 | €241 | = | 0.0% |
| Profit (loss) carried forward | 14 | €572 | -€46,118 | -€46,690 | |
| Amounts payable | 17/49 | €154,956 | €112,937 | -€42,019 | -27.1% |
| Amounts payable after more than one year | 17 | €23,402 | €11,776 | -€11,626 | -49.7% |
| Financial debts | 170/4 | €23,402 | €11,776 | -€11,626 | -49.7% |
| Amounts payable within one year | 42/48 | €131,546 | €101,118 | -€30,428 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €11,478 | €11,626 | +€148 | +1.3% |
| Financial debts | 43 | €5,136 | €584 | -€4,553 | -88.6% |
| Credit institutions | 430/8 | €5,136 | €584 | -€4,553 | -88.6% |
| Trade debts | 44 | €6,425 | €11,055 | +€4,630 | +72.1% |
| Suppliers | 440/4 | €6,425 | €11,055 | +€4,630 | +72.1% |
| Taxes, remuneration and social security | 45 | €15,351 | €8,140 | -€7,212 | -47.0% |
| Taxes | 450/3 | €15,351 | €8,140 | -€7,212 | -47.0% |
| Other amounts payable | 47/48 | €93,155 | €69,714 | -€23,441 | -25.2% |
| Accrued charges and deferred income | 492/3 | €8 | €43 | +€35 | +415% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,500 | €14,395 | +€895 | +6.6% |
| Other operating charges | 640/8 | €493 | €501 | +€8 | +1.5% |
| Non-recurring operating charges | 66A | €2,777 | €283 | -€2,494 | -89.8% |
| Gross operating margin | 9900 | €71,196 | €17,387 | -€53,809 | -75.6% |
| Operating profit (loss) | 9901 | €54,426 | €2,207 | -€52,218 | -95.9% |
| Financial income | 75/76B | €39 | €2 | -€37 | -94.2% |
| Recurring financial income | 75 | €39 | €2 | -€37 | -94.2% |
| Financial charges | 65/66B | €5,737 | €47,841 | +€42,105 | +734% |
| Recurring financial charges | 65 | €5,163 | €1,057 | -€4,105 | -79.5% |
| Non-recurring financial charges | 66B | €574 | €46,784 | +€46,210 | +8,048% |
| Profit (loss) for the period before taxes | 9903 | €48,728 | -€45,632 | -€94,359 | |
| Income taxes | 67/77 | €13,622 | €1,058 | -€12,563 | -92.2% |
| Profit (loss) for the period | 9904 | €35,106 | -€46,690 | -€81,796 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,106 | -€46,690 | -€81,796 |
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 24 October 2026 via checked.be.