CARFRE: 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.
CARFRE
Largest movements
- Tangible fixed assets -€30,384
down €30,384 (-1.5%), from €2.1m to €2.0m
of which Land and buildings: -€29,480
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€16,657
down €16,657 (-31.6%), from €52,748 to €36,091
- Depreciation -€2,840
down €2,840 (-7.5%), from €37,724 to €34,884
- Other operating charges -€1,638
down €1,638 (-12.5%), from €13,152 to €11,515
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 | €2,152,440 | €2,118,048 | -€34,392 | -1.6% |
| Formation expenses | 20 | €0 | €0 | = | 0.0% |
| Fixed assets | 21/28 | €2,053,207 | €2,022,823 | -€30,384 | -1.5% |
| Tangible fixed assets | 22/27 | €2,053,189 | €2,022,804 | -€30,384 | -1.5% |
| Land and buildings | 22 | €2,024,674 | €1,995,194 | -€29,480 | -1.5% |
| Plant, machinery and equipment | 23 | €3,987 | €3,083 | -€905 | -22.7% |
| Furniture and vehicles | 24 | €24,527 | €24,527 | = | 0.0% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €99,233 | €95,225 | -€4,008 | -4.0% |
| Amounts receivable within one year | 40/41 | €736 | €736 | = | 0.0% |
| Trade receivables | 40 | €736 | €736 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €98,497 | €94,489 | -€4,008 | -4.1% |
| Total equity and liabilities | 10/49 | €2,152,440 | €2,118,048 | -€34,392 | -1.6% |
| Equity | 10/15 | €1,351,171 | €1,339,895 | -€11,276 | -0.8% |
| Contributions | 10/11 | €1,050,447 | €1,050,447 | = | 0.0% |
| Outside capital | 11 | €1,050,447 | €1,050,447 | = | 0.0% |
| Share premium | 1100/10 | €673 | €673 | = | 0.0% |
| Other | 1109/19 | €1,049,773 | €1,049,773 | = | 0.0% |
| Reserves | 13 | €333,311 | €333,311 | = | 0.0% |
| Distributable reserves | 133 | €333,311 | €333,311 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,587 | -€43,863 | -€11,276 | -34.6% |
| Amounts payable | 17/49 | €801,269 | €778,153 | -€23,116 | -2.9% |
| Amounts payable after more than one year | 17 | €780,000 | €774,000 | -€6,000 | -0.8% |
| Other amounts payable | 178/9 | €780,000 | €774,000 | -€6,000 | -0.8% |
| Amounts payable within one year | 42/48 | €21,269 | €4,153 | -€17,116 | -80.5% |
| Trade debts | 44 | €1,549 | €1,507 | -€42 | -2.7% |
| Suppliers | 440/4 | €1,549 | €1,507 | -€42 | -2.7% |
| Taxes, remuneration and social security | 45 | €906 | €884 | -€22 | -2.4% |
| Taxes | 450/3 | €906 | €884 | -€22 | -2.4% |
| Other amounts payable | 47/48 | €18,814 | €1,761 | -€17,052 | -90.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,724 | €34,884 | -€2,840 | -7.5% |
| Other operating charges | 640/8 | €13,152 | €11,515 | -€1,638 | -12.5% |
| Gross operating margin | 9900 | €52,748 | €36,091 | -€16,657 | -31.6% |
| Operating profit (loss) | 9901 | €1,871 | -€10,308 | -€12,179 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €114 | €84 | -€30 | -26.3% |
| Recurring financial charges | 65 | €114 | €84 | -€30 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €1,757 | -€10,392 | -€12,149 | |
| Income taxes | 67/77 | €906 | €884 | -€22 | -2.4% |
| Profit (loss) for the period | 9904 | €851 | -€11,276 | -€12,127 | |
| Profit (loss) for the period to be appropriated | 9905 | €851 | -€11,276 | -€12,127 |
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 3 October 2026 via checked.be.