CARAT: 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.
CARAT
Largest movements
- Stocks and contracts +€401,177
up €401,177 (+24.6%), from €1.6m to €2.0m
- Receivables within one year +€85,923
up €85,923 (+9.1%), from €943,608 to €1.0m
of which Other amounts receivable: +€61,585
- Tangible fixed assets -€78,433
down €78,433 (-30.5%), from €257,347 to €178,914
of which Furniture and vehicles: -€62,683
- Cash -€59,209
down €59,209 (-99.6%), from €59,428 to €219
mainly Contributions, distributions and other (-€874,710) and Stocks and contracts (-€401,177)
- Reserves +€183,167
up €183,167 (+8.8%), from €2.1m to €2.3m
of which Distributable reserves: +€183,167
- Trade debts +€91,817
up €91,817 (+893.2%), from €10,280 to €102,097
- Tax, wage and social debts +€76,436
up €76,436 (+21.2%), from €359,795 to €436,231
of which Remuneration and social security: +€82,212
- Write-downs +€261,413
up €261,413 (+439054.2%), from €60 to €261,472
- Gross operating margin +€168,218
up €168,218 (+6.0%), from €2.8m to €3.0m
- Financial income +€50,447
up €50,447 (+32.8%), from €153,949 to €204,396
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,891,445 | €3,240,903 | +€349,458 | +12.1% |
| Fixed assets | 21/28 | €257,347 | €178,914 | -€78,433 | -30.5% |
| Tangible fixed assets | 22/27 | €257,347 | €178,914 | -€78,433 | -30.5% |
| Land and buildings | 22 | €104,100 | €97,812 | -€6,288 | -6.0% |
| Plant, machinery and equipment | 23 | €14,735 | €5,272 | -€9,462 | -64.2% |
| Furniture and vehicles | 24 | €138,513 | €75,830 | -€62,683 | -45.3% |
| Current assets | 29/58 | €2,634,098 | €3,061,989 | +€427,891 | +16.2% |
| Stocks and contracts in progress | 3 | €1,631,062 | €2,032,239 | +€401,177 | +24.6% |
| Stocks | 30/36 | €1,631,062 | €2,032,239 | +€401,177 | +24.6% |
| Amounts receivable within one year | 40/41 | €943,608 | €1,029,531 | +€85,923 | +9.1% |
| Trade receivables | 40 | €943,608 | €967,946 | +€24,337 | +2.6% |
| Other amounts receivable | 41 | - | €61,585 | +€61,585 | |
| Cash at bank and in hand | 54/58 | €59,428 | €219 | -€59,209 | -99.6% |
| Total equity and liabilities | 10/49 | €2,891,445 | €3,240,903 | +€349,458 | +12.1% |
| Equity | 10/15 | €2,138,297 | €2,321,464 | +€183,167 | +8.6% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €2,075,297 | €2,258,464 | +€183,167 | +8.8% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Distributable reserves | 133 | €2,068,997 | €2,252,164 | +€183,167 | +8.9% |
| Amounts payable | 17/49 | €753,148 | €919,439 | +€166,291 | +22.1% |
| Amounts payable within one year | 42/48 | €443,528 | €608,039 | +€164,510 | +37.1% |
| Trade debts | 44 | €10,280 | €102,097 | +€91,817 | +893.2% |
| Suppliers | 440/4 | €10,280 | €102,097 | +€91,817 | +893.2% |
| Taxes, remuneration and social security | 45 | €359,795 | €436,231 | +€76,436 | +21.2% |
| Taxes | 450/3 | €173,763 | €167,987 | -€5,776 | -3.3% |
| Remuneration and social security | 454/9 | €186,033 | €268,245 | +€82,212 | +44.2% |
| Other amounts payable | 47/48 | €73,453 | €69,710 | -€3,743 | -5.1% |
| Accrued charges and deferred income | 492/3 | €309,619 | €311,400 | +€1,781 | +0.6% |
| Remuneration, social security and pensions | 62 | €1,099,558 | €1,118,243 | +€18,685 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,508 | €78,433 | +€9,925 | +14.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60 | €261,472 | +€261,413 | +439054.2% |
| Other operating charges | 640/8 | €8,078 | €8,352 | +€274 | +3.4% |
| Gross operating margin | 9900 | €2,811,083 | €2,979,301 | +€168,218 | +6.0% |
| Operating profit (loss) | 9901 | €1,634,879 | €1,512,801 | -€122,078 | -7.5% |
| Financial income | 75/76B | €153,949 | €204,396 | +€50,447 | +32.8% |
| Recurring financial income | 75 | €153,949 | €204,396 | +€50,447 | +32.8% |
| Financial charges | 65/66B | €319,764 | €322,993 | +€3,229 | +1.0% |
| Recurring financial charges | 65 | €319,764 | €322,993 | +€3,229 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €1,469,064 | €1,394,204 | -€74,860 | -5.1% |
| Income taxes | 67/77 | €354,554 | €336,327 | -€18,227 | -5.1% |
| Profit (loss) for the period | 9904 | €1,114,510 | €1,057,877 | -€56,633 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,114,510 | €1,057,877 | -€56,633 | -5.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.