CAREO: 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.
CAREO
Largest movements
- Tangible fixed assets +€62,505
up €62,505 (+17.6%), from €355,178 to €417,683
of which Assets under construction and advance payments: +€114,853
- Cash +€26,172
up €26,172 (+51.4%), from €50,942 to €77,114
mainly Net result for the year (+€113,989) and Depreciation (+€52,349)
- Receivables within one year -€20,324
down €20,324 (-68.3%), from €29,755 to €9,431
of which Other amounts receivable: -€10,896
- Receivables after one year -€6,680
down €6,680 (-47.2%), from €14,163 to €7,483
- Other debts -€49,421
down €49,421 (-51.2%), from €96,500 to €47,079
- Debts after one year +€45,759
up €45,759 (+18.7%), from €244,603 to €290,362
- Trade debts +€44,352
up €44,352 (+1562.4%), from €2,839 to €47,190
- Reserves +€42,500
new in 2025: €42,500
- Profit (loss) carried forward -€18,511
down €18,511 (-70.7%), from €26,175 to €7,664
- Gross operating margin -€37,892
down €37,892 (-12.2%), from €311,844 to €273,952
- Taxes -€12,258
down €12,258 (-26.5%), from €46,335 to €34,077
- Depreciation +€11,867
up €11,867 (+29.3%), from €40,482 to €52,349
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 | €452,141 | €514,608 | +€62,467 | +13.8% |
| Fixed assets | 21/28 | €355,178 | €417,683 | +€62,505 | +17.6% |
| Tangible fixed assets | 22/27 | €355,178 | €417,683 | +€62,505 | +17.6% |
| Land and buildings | 22 | €207,628 | €194,784 | -€12,844 | -6.2% |
| Plant, machinery and equipment | 23 | €74,034 | €54,325 | -€19,709 | -26.6% |
| Furniture and vehicles | 24 | €44,861 | €29,511 | -€15,349 | -34.2% |
| Other tangible fixed assets | 26 | €19,452 | €15,005 | -€4,447 | -22.9% |
| Assets under construction and advance payments | 27 | €9,204 | €124,058 | +€114,853 | +1247.8% |
| Current assets | 29/58 | €96,963 | €96,926 | -€37 | 0.0% |
| Amounts receivable after more than one year | 29 | €14,163 | €7,483 | -€6,680 | -47.2% |
| Trade receivables | 290 | €14,163 | €7,483 | -€6,680 | -47.2% |
| Amounts receivable within one year | 40/41 | €29,755 | €9,431 | -€20,324 | -68.3% |
| Trade receivables | 40 | €18,609 | €9,181 | -€9,428 | -50.7% |
| Other amounts receivable | 41 | €11,146 | €250 | -€10,896 | -97.8% |
| Cash at bank and in hand | 54/58 | €50,942 | €77,114 | +€26,172 | +51.4% |
| Deferred charges and accrued income | 490/1 | €2,103 | €2,898 | +€796 | +37.9% |
| Total equity and liabilities | 10/49 | €452,141 | €514,608 | +€62,467 | +13.8% |
| Equity | 10/15 | €38,946 | €62,935 | +€23,989 | +61.6% |
| Contributions | 10/11 | €12,771 | €12,771 | = | 0.0% |
| Reserves | 13 | - | €42,500 | +€42,500 | |
| Distributable reserves | 133 | - | €42,500 | +€42,500 | |
| Profit (loss) carried forward | 14 | €26,175 | €7,664 | -€18,511 | -70.7% |
| Amounts payable | 17/49 | €413,195 | €451,674 | +€38,478 | +9.3% |
| Amounts payable after more than one year | 17 | €244,603 | €290,362 | +€45,759 | +18.7% |
| Financial debts | 170/4 | €244,603 | €290,362 | +€45,759 | +18.7% |
| Amounts payable within one year | 42/48 | €168,592 | €161,312 | -€7,280 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €44,398 | €41,961 | -€2,437 | -5.5% |
| Trade debts | 44 | €2,839 | €47,190 | +€44,352 | +1562.4% |
| Suppliers | 440/4 | €2,839 | €47,190 | +€44,352 | +1562.4% |
| Taxes, remuneration and social security | 45 | €24,855 | €25,082 | +€226 | +0.9% |
| Taxes | 450/3 | €7,546 | - | -€7,546 | |
| Remuneration and social security | 454/9 | €17,309 | €25,082 | +€7,773 | +44.9% |
| Other amounts payable | 47/48 | €96,500 | €47,079 | -€49,421 | -51.2% |
| Remuneration, social security and pensions | 62 | €64,628 | €66,236 | +€1,607 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,482 | €52,349 | +€11,867 | +29.3% |
| Other operating charges | 640/8 | €1,110 | €1,277 | +€167 | +15.1% |
| Gross operating margin | 9900 | €311,844 | €273,952 | -€37,892 | -12.2% |
| Operating profit (loss) | 9901 | €205,623 | €154,090 | -€51,533 | -25.1% |
| Financial income | 75/76B | €0 | €147 | +€147 | +63921.7% |
| Recurring financial income | 75 | €0 | €147 | +€147 | +63921.7% |
| Financial charges | 65/66B | €6,408 | €6,171 | -€237 | -3.7% |
| Recurring financial charges | 65 | €6,408 | €6,171 | -€237 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €199,215 | €148,066 | -€51,149 | -25.7% |
| Income taxes | 67/77 | €46,335 | €34,077 | -€12,258 | -26.5% |
| Profit (loss) for the period | 9904 | €152,880 | €113,989 | -€38,891 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €152,880 | €113,989 | -€38,891 | -25.4% |
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 4 October 2026 via checked.be.