CARAERTS: 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.
CARAERTS
Largest movements
- Cash -€54,211
down €54,211 (-66.8%), from €81,180 to €26,969
mainly Provisions (-€142,124) and Net result for the year (-€57,816)
- Tangible fixed assets +€22,443
up €22,443 (+3.9%), from €576,108 to €598,551
of which Land and buildings: +€23,640
- Tax, wage and social debts +€176,783
up €176,783, from €0 to €176,783
- Provisions -€142,124
down €142,124 (-100.0%), from €142,124 to €0
- Reserves -€73,788
down €73,788 (-17.3%), from €426,372 to €352,584
of which Tax-exempt reserves: -€426,372
- Profit (loss) carried forward +€15,972
up €15,972, from -€15,972 to €0
- Other debts -€7,882
down €7,882 (-100.0%), from €7,882 to €0
- Taxes +€176,783
new in 2025: €176,783
- Gross operating margin +€4,225
up €4,225, from -€1,004 to €3,221
- Depreciation +€4,021
up €4,021 (+20.5%), from €19,657 to €23,678
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 | €659,046 | €626,273 | -€32,774 | -5.0% |
| Fixed assets | 21/28 | €576,108 | €598,551 | +€22,443 | +3.9% |
| Tangible fixed assets | 22/27 | €576,108 | €598,551 | +€22,443 | +3.9% |
| Land and buildings | 22 | €574,911 | €598,551 | +€23,640 | +4.1% |
| Plant, machinery and equipment | 23 | €1,196 | €0 | -€1,196 | -100.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €82,939 | €27,722 | -€55,217 | -66.6% |
| Amounts receivable within one year | 40/41 | €1,759 | €753 | -€1,006 | -57.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,759 | €753 | -€1,006 | -57.2% |
| Cash at bank and in hand | 54/58 | €81,180 | €26,969 | -€54,211 | -66.8% |
| Total equity and liabilities | 10/49 | €659,046 | €626,273 | -€32,774 | -5.0% |
| Equity | 10/15 | €506,540 | €448,724 | -€57,816 | -11.4% |
| Contributions | 10/11 | €96,139 | €96,139 | = | 0.0% |
| Reserves | 13 | €426,372 | €352,584 | -€73,788 | -17.3% |
| Tax-exempt reserves | 132 | €426,372 | €0 | -€426,372 | -100.0% |
| Distributable reserves | 133 | - | €352,584 | +€352,584 | |
| Profit (loss) carried forward | 14 | -€15,972 | €0 | +€15,972 | |
| Provisions and deferred taxes | 16 | €142,124 | €0 | -€142,124 | -100.0% |
| Deferred taxes | 168 | €142,124 | €0 | -€142,124 | -100.0% |
| Amounts payable | 17/49 | €10,382 | €177,549 | +€167,167 | +1610.2% |
| Amounts payable within one year | 42/48 | €7,882 | €177,487 | +€169,605 | +2151.8% |
| Trade debts | 44 | €0 | €704 | +€704 | |
| Suppliers | 440/4 | €0 | €704 | +€704 | |
| Taxes, remuneration and social security | 45 | €0 | €176,783 | +€176,783 | |
| Taxes | 450/3 | €0 | €176,783 | +€176,783 | |
| Other amounts payable | 47/48 | €7,882 | €0 | -€7,882 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,500 | €62 | -€2,438 | -97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,657 | €23,678 | +€4,021 | +20.5% |
| Other operating charges | 640/8 | €2,678 | €2,676 | -€1 | 0.0% |
| Gross operating margin | 9900 | -€1,004 | €3,221 | +€4,225 | |
| Operating profit (loss) | 9901 | -€23,338 | -€23,133 | +€205 | +0.9% |
| Financial income | 75/76B | €0 | €20 | +€20 | +50900.0% |
| Recurring financial income | 75 | €0 | €20 | +€20 | +50900.0% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€23,382 | -€23,158 | +€224 | +1.0% |
| Transfer from deferred taxes | 780 | €6,460 | €142,124 | +€135,664 | +2100.0% |
| Income taxes | 67/77 | - | €176,783 | +€176,783 | |
| Profit (loss) for the period | 9904 | -€16,921 | -€57,816 | -€40,895 | -241.7% |
| Transfer from tax-exempt reserves | 789 | €19,381 | €426,372 | +€406,992 | +2100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,459 | €368,556 | +€366,097 | +14887.5% |
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 5 October 2026 via checked.be.