CAREX: 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.
CAREX
Largest movements
- Current investments +€9,417
up €9,417 (+7.2%), from €130,663 to €140,080
- Cash +€6,707
up €6,707 (+77.8%), from €8,616 to €15,323
mainly Net result for the year (+€26,104) and Other debts (+€2,777)
- Reserves +€9,858
up €9,858 (+7.5%), from €131,030 to €140,887
of which Distributable reserves: +€9,858
- Other debts +€2,777
up €2,777 (+88.1%), from €3,152 to €5,929
- Tax, wage and social debts +€2,509
up €2,509 (+53.2%), from €4,719 to €7,228
- Financial income +€12,607
up €12,607 (+297.0%), from €4,245 to €16,851
- Gross operating margin -€11,348
down €11,348 (-23.1%), from €49,165 to €37,817
- Depreciation -€6,326
down €6,326 (-98.4%), from €6,427 to €101
- Financial charges +€5,214
up €5,214 (+98.7%), from €5,284 to €10,498
- Taxes +€4,954
up €4,954 (+41.9%), from €11,830 to €16,784
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 | €154,301 | €169,776 | +€15,475 | +10.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €130 | €28 | -€101 | -78.2% |
| Tangible fixed assets | 22/27 | €130 | €28 | -€101 | -78.2% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €130 | €28 | -€101 | -78.2% |
| Current assets | 29/58 | €154,171 | €169,748 | +€15,577 | +10.1% |
| Amounts receivable within one year | 40/41 | €14,366 | €12,910 | -€1,455 | -10.1% |
| Trade receivables | 40 | €11,853 | €10,900 | -€953 | -8.0% |
| Other amounts receivable | 41 | €2,512 | €2,010 | -€502 | -20.0% |
| Current investments | 50/53 | €130,663 | €140,080 | +€9,417 | +7.2% |
| Cash at bank and in hand | 54/58 | €8,616 | €15,323 | +€6,707 | +77.8% |
| Deferred charges and accrued income | 490/1 | €526 | €1,434 | +€908 | +172.6% |
| Total equity and liabilities | 10/49 | €154,301 | €169,776 | +€15,475 | +10.0% |
| Equity | 10/15 | €145,347 | €155,205 | +€9,858 | +6.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €131,030 | €140,887 | +€9,858 | +7.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,798 | €21,798 | = | 0.0% |
| Distributable reserves | 133 | €107,372 | €117,229 | +€9,858 | +9.2% |
| Profit (loss) carried forward | 14 | €1,917 | €1,917 | = | 0.0% |
| Amounts payable | 17/49 | €8,954 | €14,571 | +€5,618 | +62.7% |
| Amounts payable within one year | 42/48 | €8,954 | €14,571 | +€5,618 | +62.7% |
| Trade debts | 44 | €1,082 | €1,415 | +€332 | +30.7% |
| Suppliers | 440/4 | €1,082 | €1,415 | +€332 | +30.7% |
| Taxes, remuneration and social security | 45 | €4,719 | €7,228 | +€2,509 | +53.2% |
| Taxes | 450/3 | €4,719 | €7,228 | +€2,509 | +53.2% |
| Other amounts payable | 47/48 | €3,152 | €5,929 | +€2,777 | +88.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,427 | €101 | -€6,326 | -98.4% |
| Other operating charges | 640/8 | €1,921 | €1,181 | -€740 | -38.5% |
| Gross operating margin | 9900 | €49,165 | €37,817 | -€11,348 | -23.1% |
| Operating profit (loss) | 9901 | €40,817 | €36,535 | -€4,282 | -10.5% |
| Financial income | 75/76B | €4,245 | €16,851 | +€12,607 | +297.0% |
| Recurring financial income | 75 | €4,245 | €16,851 | +€12,607 | +297.0% |
| Financial charges | 65/66B | €5,284 | €10,498 | +€5,214 | +98.7% |
| Recurring financial charges | 65 | €5,284 | €10,498 | +€5,214 | +98.7% |
| Profit (loss) for the period before taxes | 9903 | €39,778 | €42,888 | +€3,110 | +7.8% |
| Income taxes | 67/77 | €11,830 | €16,784 | +€4,954 | +41.9% |
| Profit (loss) for the period | 9904 | €27,948 | €26,104 | -€1,844 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,948 | €26,104 | -€1,844 | -6.6% |
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 8 October 2026 via checked.be.