CARAMEL: 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.
CARAMEL
Largest movements
- Cash +€393,517
up €393,517 (+177.9%), from €221,261 to €614,777
mainly Current investments (+€325,000) and Net result for the year (+€62,162)
- Current investments -€325,000
no longer reported in 2025 (was €325,000)
- Receivables within one year +€13,918
up €13,918 (+254.9%), from €5,459 to €19,377
- Stocks and contracts -€9,303
down €9,303 (-23.0%), from €40,441 to €31,138
- Tangible fixed assets -€8,263
down €8,263 (-18.9%), from €43,693 to €35,430
of which Land and buildings: -€8,476
- Reserves +€62,162
up €62,162 (+10.1%), from €617,244 to €679,407
of which Distributable reserves: +€62,162
- Other debts -€7,515
no longer reported in 2025 (was €7,515)
- Gross operating margin -€9,181
down €9,181 (-6.8%), from €134,178 to €124,997
- Taxes -€2,716
down €2,716 (-11.1%), from €24,541 to €21,825
- Depreciation +€1,844
up €1,844 (+19.8%), from €9,297 to €11,141
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 | €653,245 | €712,884 | +€59,639 | +9.1% |
| Fixed assets | 21/28 | €46,693 | €38,430 | -€8,263 | -17.7% |
| Tangible fixed assets | 22/27 | €43,693 | €35,430 | -€8,263 | -18.9% |
| Land and buildings | 22 | €33,481 | €25,005 | -€8,476 | -25.3% |
| Plant, machinery and equipment | 23 | €10,212 | €10,425 | +€214 | +2.1% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €606,551 | €674,454 | +€67,902 | +11.2% |
| Stocks and contracts in progress | 3 | €40,441 | €31,138 | -€9,303 | -23.0% |
| Stocks | 30/36 | €40,441 | €31,138 | -€9,303 | -23.0% |
| Amounts receivable within one year | 40/41 | €5,459 | €19,377 | +€13,918 | +254.9% |
| Other amounts receivable | 41 | €5,459 | €19,377 | +€13,918 | +254.9% |
| Current investments | 50/53 | €325,000 | - | -€325,000 | |
| Cash at bank and in hand | 54/58 | €221,261 | €614,777 | +€393,517 | +177.9% |
| Deferred charges and accrued income | 490/1 | €14,391 | €9,161 | -€5,229 | -36.3% |
| Total equity and liabilities | 10/49 | €653,245 | €712,884 | +€59,639 | +9.1% |
| Equity | 10/15 | €625,836 | €687,999 | +€62,162 | +9.9% |
| Contributions | 10/11 | €8,592 | €8,592 | = | 0.0% |
| Reserves | 13 | €617,244 | €679,407 | +€62,162 | +10.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €615,385 | €677,547 | +€62,162 | +10.1% |
| Amounts payable | 17/49 | €27,408 | €24,885 | -€2,523 | -9.2% |
| Amounts payable within one year | 42/48 | €27,408 | €24,885 | -€2,523 | -9.2% |
| Trade debts | 44 | €3,016 | €5,446 | +€2,430 | +80.6% |
| Suppliers | 440/4 | €3,016 | €5,446 | +€2,430 | +80.6% |
| Taxes, remuneration and social security | 45 | €16,878 | €19,440 | +€2,562 | +15.2% |
| Taxes | 450/3 | €16,878 | €19,440 | +€2,562 | +15.2% |
| Other amounts payable | 47/48 | €7,515 | - | -€7,515 | |
| Remuneration, social security and pensions | 62 | €34,689 | €35,313 | +€624 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,297 | €11,141 | +€1,844 | +19.8% |
| Other operating charges | 640/8 | €3,167 | €3,739 | +€572 | +18.1% |
| Gross operating margin | 9900 | €134,178 | €124,997 | -€9,181 | -6.8% |
| Operating profit (loss) | 9901 | €87,025 | €74,804 | -€12,220 | -14.0% |
| Financial income | 75/76B | €10,163 | €10,069 | -€94 | -0.9% |
| Recurring financial income | 75 | €10,163 | €10,069 | -€94 | -0.9% |
| Financial charges | 65/66B | €923 | €886 | -€37 | -4.0% |
| Recurring financial charges | 65 | €923 | €886 | -€37 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €96,265 | €83,987 | -€12,278 | -12.8% |
| Income taxes | 67/77 | €24,541 | €21,825 | -€2,716 | -11.1% |
| Profit (loss) for the period | 9904 | €71,724 | €62,162 | -€9,562 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,724 | €62,162 | -€9,562 | -13.3% |
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 6 October 2026 via checked.be.