CARAYE: 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.
What changed
CARAYE
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€20,261
2024 · €16,376+€3,884
Equity
€918,137
2024 · €898,710+€19,427
Cash
€39,133
2024 · €44,974-€5,841
Balance sheet total
€1.5m
2024 · €1.6m-€72,012
Largest movements
Assets
- Tangible fixed assets -€68,386
down €68,386 (-4.5%), from €1.5m to €1.4m
of which Land and buildings: -€59,733
Equity and liabilities
- Debts after one year -€99,432
down €99,432 (-70.4%), from €141,194 to €41,762
- Other debts +€24,071
up €24,071 (+18.4%), from €130,966 to €155,037
- Reserves +€20,217
up €20,217 (+2.3%), from €874,782 to €894,999
of which Distributable reserves: +€42,940
Income statement
- Depreciation -€7,232
down €7,232 (-9.6%), from €75,618 to €68,386
- Gross operating margin -€4,442
down €4,442 (-3.6%), from €124,115 to €119,673
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.
Result 2024
€16,376
Gross operating margin
-€4,442
Depreciation
+€7,232
Other operating charges
-€217
Financial charges
+€1,135
Taxes
+€176
Result 2025
€20,261
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.
From operations
+€93,308
Investment
€0
Financing
-€99,148
Cash 2024
€44,974
From operations (derived)
+€93,308
Net result for the year
+€20,261
Depreciation
+€68,386
Receivables within one year
-€1,250
Deferred charges and accrued income
-€964
Provisions
-€12,658
Trade debts
+€224
Tax, wage and social debts
-€3,616
Other debts
+€24,071
Accrued charges and deferred income
-€1,145
Financing
-€99,148
Debts after one year
-€99,432
Current portion of long-term debt
+€1,117
Contributions, distributions and other
-€833
Cash 2025
€39,133
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,564,881 | €1,492,869 | -€72,012 | -4.6% |
| Fixed assets | 21/28 | €1,516,506 | €1,448,121 | -€68,386 | -4.5% |
| Tangible fixed assets | 22/27 | €1,516,506 | €1,448,121 | -€68,386 | -4.5% |
| Land and buildings | 22 | €1,454,400 | €1,394,667 | -€59,733 | -4.1% |
| Other tangible fixed assets | 26 | €62,106 | €53,454 | -€8,652 | -13.9% |
| Current assets | 29/58 | €48,375 | €44,748 | -€3,627 | -7.5% |
| Amounts receivable within one year | 40/41 | - | €1,250 | +€1,250 | |
| Other amounts receivable | 41 | - | €1,250 | +€1,250 | |
| Cash at bank and in hand | 54/58 | €44,974 | €39,133 | -€5,841 | -13.0% |
| Deferred charges and accrued income | 490/1 | €3,401 | €4,365 | +€964 | +28.3% |
| Total equity and liabilities | 10/49 | €1,564,881 | €1,492,869 | -€72,012 | -4.6% |
| Equity | 10/15 | €898,710 | €918,137 | +€19,427 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €874,782 | €894,999 | +€20,217 | +2.3% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €516,239 | €491,656 | -€24,583 | -4.8% |
| Distributable reserves | 133 | €358,543 | €401,483 | +€42,940 | +12.0% |
| Profit (loss) carried forward | 14 | €610 | €654 | +€43 | +7.1% |
| Investment grants | 15 | €4,718 | €3,885 | -€833 | -17.7% |
| Provisions and deferred taxes | 16 | €265,823 | €253,164 | -€12,658 | -4.8% |
| Deferred taxes | 168 | €265,823 | €253,164 | -€12,658 | -4.8% |
| Amounts payable | 17/49 | €400,349 | €321,567 | -€78,781 | -19.7% |
| Amounts payable after more than one year | 17 | €141,194 | €41,762 | -€99,432 | -70.4% |
| Financial debts | 170/4 | €141,194 | €41,762 | -€99,432 | -70.4% |
| Amounts payable within one year | 42/48 | €238,033 | €259,828 | +€21,796 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €98,315 | €99,432 | +€1,117 | +1.1% |
| Trade debts | 44 | €656 | €880 | +€224 | +34.2% |
| Suppliers | 440/4 | €656 | €880 | +€224 | +34.2% |
| Taxes, remuneration and social security | 45 | €8,096 | €4,480 | -€3,616 | -44.7% |
| Taxes | 450/3 | €8,096 | €4,480 | -€3,616 | -44.7% |
| Other amounts payable | 47/48 | €130,966 | €155,037 | +€24,071 | +18.4% |
| Accrued charges and deferred income | 492/3 | €21,122 | €19,977 | -€1,145 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,618 | €68,386 | -€7,232 | -9.6% |
| Other operating charges | 640/8 | €17,747 | €17,964 | +€217 | +1.2% |
| Gross operating margin | 9900 | €124,115 | €119,673 | -€4,442 | -3.6% |
| Operating profit (loss) | 9901 | €30,750 | €33,324 | +€2,574 | +8.4% |
| Financial charges | 65/66B | €3,568 | €2,433 | -€1,135 | -31.8% |
| Recurring financial charges | 65 | €3,568 | €2,433 | -€1,135 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €27,182 | €30,890 | +€3,708 | +13.6% |
| Transfer from deferred taxes | 780 | €12,658 | €12,658 | = | 0.0% |
| Income taxes | 67/77 | €23,464 | €23,288 | -€176 | -0.8% |
| Profit (loss) for the period | 9904 | €16,376 | €20,261 | +€3,884 | +23.7% |
| Transfer from tax-exempt reserves | 789 | €24,583 | €24,583 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,959 | €44,843 | +€3,884 | +9.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.