CARGEN: 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.
CARGEN
Largest movements
- Tangible fixed assets -€24,851
down €24,851 (-5.0%), from €502,019 to €477,169
of which Land and buildings: -€20,658
- Debts after one year -€30,178
down €30,178 (-21.7%), from €138,862 to €108,684
- Reserves +€22,912
up €22,912 (+8.9%), from €257,642 to €280,554
of which Distributable reserves: +€22,912
- Profit (loss) carried forward -€20,000
down €20,000 (-12.2%), from €163,883 to €143,883
- Gross operating margin -€44,135
down €44,135 (-35.6%), from €123,921 to €79,787
- Financial income -€31,289
down €31,289 (-98.0%), from €31,921 to €633
- Depreciation -€28,864
down €28,864 (-44.1%), from €65,498 to €36,634
- Other operating charges -€6,536
down €6,536 (-50.5%), from €12,946 to €6,410
- Taxes +€2,611
up €2,611 (+26.7%), from €9,788 to €12,399
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 | €609,902 | €587,647 | -€22,255 | -3.6% |
| Fixed assets | 21/28 | €502,019 | €477,169 | -€24,851 | -5.0% |
| Tangible fixed assets | 22/27 | €502,019 | €477,169 | -€24,851 | -5.0% |
| Land and buildings | 22 | €409,740 | €389,081 | -€20,658 | -5.0% |
| Plant, machinery and equipment | 23 | €91,174 | €87,719 | -€3,455 | -3.8% |
| Furniture and vehicles | 24 | €1,106 | €369 | -€737 | -66.7% |
| Current assets | 29/58 | €107,883 | €110,478 | +€2,595 | +2.4% |
| Amounts receivable within one year | 40/41 | €29,701 | €29,701 | = | 0.0% |
| Other amounts receivable | 41 | €29,701 | €29,701 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €77,216 | €79,710 | +€2,495 | +3.2% |
| Deferred charges and accrued income | 490/1 | €966 | €1,067 | +€101 | +10.4% |
| Total equity and liabilities | 10/49 | €609,902 | €587,647 | -€22,255 | -3.6% |
| Equity | 10/15 | €427,723 | €430,635 | +€2,912 | +0.7% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €257,642 | €280,554 | +€22,912 | +8.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €255,783 | €278,695 | +€22,912 | +9.0% |
| Profit (loss) carried forward | 14 | €163,883 | €143,883 | -€20,000 | -12.2% |
| Amounts payable | 17/49 | €182,179 | €157,012 | -€25,167 | -13.8% |
| Amounts payable after more than one year | 17 | €138,862 | €108,684 | -€30,178 | -21.7% |
| Financial debts | 170/4 | €138,862 | €108,684 | -€30,178 | -21.7% |
| Amounts payable within one year | 42/48 | €43,317 | €48,328 | +€5,011 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €29,799 | €30,178 | +€380 | +1.3% |
| Trade debts | 44 | €2,133 | €1,192 | -€940 | -44.1% |
| Suppliers | 440/4 | €2,133 | €1,192 | -€940 | -44.1% |
| Taxes, remuneration and social security | 45 | €10,135 | €12,345 | +€2,210 | +21.8% |
| Taxes | 450/3 | €10,135 | €12,345 | +€2,210 | +21.8% |
| Other amounts payable | 47/48 | €1,250 | €4,612 | +€3,363 | +269.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,498 | €36,634 | -€28,864 | -44.1% |
| Other operating charges | 640/8 | €12,946 | €6,410 | -€6,536 | -50.5% |
| Gross operating margin | 9900 | €123,921 | €79,787 | -€44,135 | -35.6% |
| Operating profit (loss) | 9901 | €45,477 | €36,742 | -€8,735 | -19.2% |
| Financial income | 75/76B | €31,921 | €633 | -€31,289 | -98.0% |
| Recurring financial income | 75 | €31,921 | €633 | -€31,289 | -98.0% |
| Financial charges | 65/66B | €4,227 | €2,064 | -€2,163 | -51.2% |
| Recurring financial charges | 65 | €4,227 | €2,064 | -€2,163 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €73,171 | €35,311 | -€37,860 | -51.7% |
| Income taxes | 67/77 | €9,788 | €12,399 | +€2,611 | +26.7% |
| Profit (loss) for the period | 9904 | €63,383 | €22,912 | -€40,471 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €63,383 | €22,912 | -€40,471 | -63.9% |
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 3 October 2026 via checked.be.