CAREZZA: 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.
CAREZZA
Largest movements
- Stocks and contracts -€1.3m
down €1.3m (-46.5%), from €2.8m to €1.5m
- Cash +€98,669
up €98,669 (+2650.1%), from €3,723 to €102,393
mainly Stocks and contracts (+€1.3m) and Other debts (+€384,504)
- Short-term financial debts -€850,000
no longer reported in 2025 (was €850,000)
- Debts after one year -€721,737
down €721,737 (-62.5%), from €1.2m to €433,258
- Other debts +€384,504
up €384,504 (+20.8%), from €1.8m to €2.2m
- Financial charges -€125,526
down €125,526 (-50.7%), from €247,405 to €121,879
of which Non-recurring financial charges: -€100,000
- Other operating charges +€51,336
up €51,336 (+263.9%), from €19,455 to €70,790
- Gross operating margin +€45,057
up €45,057 (+25.0%), from €180,038 to €225,095
- Financial income +€4,157
up €4,157 (+98.6%), from €4,215 to €8,372
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 | €5,148,041 | €3,884,574 | -€1.3m | -24.5% |
| Fixed assets | 21/28 | €2,290,956 | €2,265,824 | -€25,133 | -1.1% |
| Tangible fixed assets | 22/27 | €2,240,956 | €2,215,824 | -€25,133 | -1.1% |
| Land and buildings | 22 | €2,240,956 | €2,211,181 | -€29,775 | -1.3% |
| Furniture and vehicles | 24 | - | €4,643 | +€4,643 | |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €2,857,085 | €1,618,750 | -€1.2m | -43.3% |
| Stocks and contracts in progress | 3 | €2,820,858 | €1,510,125 | -€1.3m | -46.5% |
| Stocks | 30/36 | €2,820,858 | €1,510,125 | -€1.3m | -46.5% |
| Amounts receivable within one year | 40/41 | €28,456 | €6,232 | -€22,224 | -78.1% |
| Trade receivables | 40 | €2,009 | €6,231 | +€4,222 | +210.1% |
| Other amounts receivable | 41 | €26,447 | €1 | -€26,446 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,723 | €102,393 | +€98,669 | +2650.1% |
| Deferred charges and accrued income | 490/1 | €4,048 | - | -€4,048 | |
| Total equity and liabilities | 10/49 | €5,148,041 | €3,884,574 | -€1.3m | -24.5% |
| Equity | 10/15 | €1,102,253 | €1,052,012 | -€50,241 | -4.6% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €1,272,792 | €1,272,792 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,860 | - | -€6,860 | |
| Reserves not available under the articles | 1311 | €6,860 | - | -€6,860 | |
| Distributable reserves | 133 | €1,265,932 | €1,272,792 | +€6,860 | +0.5% |
| Profit (loss) carried forward | 14 | -€239,139 | -€289,380 | -€50,241 | -21.0% |
| Amounts payable | 17/49 | €4,045,788 | €2,832,562 | -€1.2m | -30.0% |
| Amounts payable after more than one year | 17 | €1,154,995 | €433,258 | -€721,737 | -62.5% |
| Financial debts | 170/4 | €1,154,995 | €433,258 | -€721,737 | -62.5% |
| Amounts payable within one year | 42/48 | €2,803,593 | €2,321,504 | -€482,089 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €98,650 | €82,864 | -€15,786 | -16.0% |
| Financial debts | 43 | €850,000 | - | -€850,000 | |
| Credit institutions | 430/8 | €850,000 | - | -€850,000 | |
| Trade debts | 44 | €8,604 | €6,888 | -€1,716 | -19.9% |
| Suppliers | 440/4 | €8,604 | €6,888 | -€1,716 | -19.9% |
| Taxes, remuneration and social security | 45 | €737 | €1,646 | +€909 | +123.4% |
| Taxes | 450/3 | €737 | €1,646 | +€909 | +123.4% |
| Other amounts payable | 47/48 | €1,845,603 | €2,230,107 | +€384,504 | +20.8% |
| Accrued charges and deferred income | 492/3 | €87,200 | €77,800 | -€9,400 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,989 | €90,432 | +€1,444 | +1.6% |
| Other operating charges | 640/8 | €19,455 | €70,790 | +€51,336 | +263.9% |
| Non-recurring operating charges | 66A | €67,000 | - | -€67,000 | |
| Gross operating margin | 9900 | €180,038 | €225,095 | +€45,057 | +25.0% |
| Operating profit (loss) | 9901 | €4,595 | €63,872 | +€59,278 | +1290.2% |
| Financial income | 75/76B | €4,215 | €8,372 | +€4,157 | +98.6% |
| Recurring financial income | 75 | €4,215 | €8,372 | +€4,157 | +98.6% |
| Financial charges | 65/66B | €247,405 | €121,879 | -€125,526 | -50.7% |
| Recurring financial charges | 65 | €147,405 | €121,879 | -€25,526 | -17.3% |
| Non-recurring financial charges | 66B | €100,000 | - | -€100,000 | |
| Profit (loss) for the period before taxes | 9903 | -€238,596 | -€49,635 | +€188,960 | +79.2% |
| Income taxes | 67/77 | €543 | €606 | +€63 | +11.6% |
| Profit (loss) for the period | 9904 | -€239,139 | -€50,241 | +€188,898 | +79.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€239,139 | -€50,241 | +€188,898 | +79.0% |
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.