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
- Tangible fixed assets -€846,412
down €846,412 (-43.5%), from €1.9m to €1.1m
of which Land and buildings: -€800,611
- Receivables within one year -€44,196
down €44,196 (-36.0%), from €122,874 to €78,677
of which Trade receivables: -€42,669
- Debts after one year -€740,890
down €740,890 (-56.6%), from €1.3m to €569,038
- Reserves +€181,322
up €181,322 (+1015.6%), from €17,853 to €199,175
of which Tax-exempt reserves: +€162,181
- Current portion of long-term debt -€156,801
down €156,801 (-69.1%), from €226,950 to €70,149
- Trade debts -€126,581
down €126,581 (-91.9%), from €137,783 to €11,202
- Other debts -€110,624
down €110,624 (-29.7%), from €372,685 to €262,060
- Gross operating margin +€212,687
up €212,687 (+152.5%), from €139,428 to €352,114
- Depreciation -€33,614
down €33,614 (-32.9%), from €102,263 to €68,649
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 | €2,078,182 | €1,182,525 | -€895,657 | -43.1% |
| Fixed assets | 21/28 | €1,947,225 | €1,100,813 | -€846,412 | -43.5% |
| Tangible fixed assets | 22/27 | €1,947,225 | €1,100,813 | -€846,412 | -43.5% |
| Land and buildings | 22 | €1,822,293 | €1,021,681 | -€800,611 | -43.9% |
| Plant, machinery and equipment | 23 | €17,729 | €7,154 | -€10,574 | -59.6% |
| Furniture and vehicles | 24 | €103,704 | €63,877 | -€39,826 | -38.4% |
| Other tangible fixed assets | 26 | €3,500 | €8,100 | +€4,600 | +131.4% |
| Current assets | 29/58 | €130,957 | €81,712 | -€49,245 | -37.6% |
| Amounts receivable within one year | 40/41 | €122,874 | €78,677 | -€44,196 | -36.0% |
| Trade receivables | 40 | €120,604 | €77,935 | -€42,669 | -35.4% |
| Other amounts receivable | 41 | €2,270 | €743 | -€1,527 | -67.3% |
| Current investments | 50/53 | €2,700 | €2,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,338 | €309 | -€5,029 | -94.2% |
| Deferred charges and accrued income | 490/1 | €46 | €26 | -€20 | -43.6% |
| Total equity and liabilities | 10/49 | €2,078,182 | €1,182,525 | -€895,657 | -43.1% |
| Equity | 10/15 | €22,853 | €204,175 | +€181,322 | +793.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,853 | €199,175 | +€181,322 | +1015.6% |
| Tax-exempt reserves | 132 | - | €162,181 | +€162,181 | |
| Distributable reserves | 133 | €17,853 | €36,993 | +€19,140 | +107.2% |
| Provisions and deferred taxes | 16 | - | €54,060 | +€54,060 | |
| Deferred taxes | 168 | - | €54,060 | +€54,060 | |
| Amounts payable | 17/49 | €2,055,329 | €924,290 | -€1.1m | -55.0% |
| Amounts payable after more than one year | 17 | €1,309,929 | €569,038 | -€740,890 | -56.6% |
| Financial debts | 170/4 | €1,309,929 | €569,038 | -€740,890 | -56.6% |
| Amounts payable within one year | 42/48 | €743,042 | €352,894 | -€390,149 | -52.5% |
| Current portion of amounts payable after more than one year | 42 | €226,950 | €70,149 | -€156,801 | -69.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €137,783 | €11,202 | -€126,581 | -91.9% |
| Suppliers | 440/4 | €137,783 | €11,202 | -€126,581 | -91.9% |
| Taxes, remuneration and social security | 45 | €5,624 | €9,482 | +€3,857 | +68.6% |
| Taxes | 450/3 | €5,624 | €9,482 | +€3,857 | +68.6% |
| Other amounts payable | 47/48 | €372,685 | €262,060 | -€110,624 | -29.7% |
| Accrued charges and deferred income | 492/3 | €2,358 | €2,358 | = | 0.0% |
| Non-recurring operating income | 76A | €1,425 | €234,494 | +€233,069 | +16356.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,263 | €68,649 | -€33,614 | -32.9% |
| Other operating charges | 640/8 | €4,172 | €5,891 | +€1,718 | +41.2% |
| Gross operating margin | 9900 | €139,428 | €352,114 | +€212,687 | +152.5% |
| Operating profit (loss) | 9901 | €32,992 | €277,575 | +€244,582 | +741.3% |
| Financial income | 75/76B | €18 | €4 | -€15 | -80.6% |
| Recurring financial income | 75 | €18 | €4 | -€15 | -80.6% |
| Financial charges | 65/66B | €40,525 | €41,751 | +€1,226 | +3.0% |
| Recurring financial charges | 65 | €40,525 | €41,751 | +€1,226 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,514 | €235,827 | +€243,341 | |
| Transfer from deferred taxes | 780 | - | €307 | +€307 | |
| Transfer to deferred taxes | 680 | - | €54,367 | +€54,367 | |
| Income taxes | 67/77 | €363 | €445 | +€82 | +22.6% |
| Profit (loss) for the period | 9904 | -€7,877 | €181,322 | +€189,199 | |
| Transfer from tax-exempt reserves | 789 | - | €920 | +€920 | |
| Transfer to tax-exempt reserves | 689 | - | €163,102 | +€163,102 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,877 | €19,140 | +€27,017 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.