CARGEPAR: what changed
Two financial 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.
CARGEPAR
Largest movements
- Cash +€156,094
up €156,094 (+247.5%), from €63,065 to €219,160
mainly Current investments (+€125,461) and Investment in fixed assets (net) (+€19,965)
- Current investments -€125,461
down €125,461 (-54.6%), from €229,915 to €104,454
- Financial fixed assets -€19,965
down €19,965 (-23.8%), from €83,838 to €63,872
- Receivables within one year +€9,746
up €9,746 (+68.0%), from €14,340 to €24,086
of which Trade receivables: +€10,186
- Reserves +€13,605
up €13,605 (+73.5%), from €18,520 to €32,125
of which Distributable reserves: +€13,605
- Tax, wage and social debts +€8,455
up €8,455 (+78.0%), from €10,844 to €19,299
- Financial charges +€10,831
up €10,831 (+12828.9%), from €84 to €10,916
of which Non-recurring financial charges: +€10,688
- Depreciation -€5,867
down €5,867 (-81.9%), from €7,168 to €1,300
- Taxes +€4,487
up €4,487 (+88.1%), from €5,094 to €9,581
- Financial income +€4,182
up €4,182 (+108.8%), from €3,844 to €8,027
of which Financial income: +€3,588
- Gross operating margin +€2,235
up €2,235 (+7.2%), from €30,953 to €33,188
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 | €401,226 | €422,536 | +€21,310 | +5.3% |
| Fixed assets | 21/28 | €92,026 | €70,760 | -€21,265 | -23.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €8,188 | €6,888 | -€1,300 | -15.9% |
| Furniture and vehicles | 24 | €281 | €0 | -€281 | -100.0% |
| Other tangible fixed assets | 26 | €7,907 | €6,888 | -€1,019 | -12.9% |
| Financial fixed assets | 28 | €83,838 | €63,872 | -€19,965 | -23.8% |
| Current assets | 29/58 | €309,200 | €351,776 | +€42,576 | +13.8% |
| Amounts receivable within one year | 40/41 | €14,340 | €24,086 | +€9,746 | +68.0% |
| Trade receivables | 40 | €13,900 | €24,086 | +€10,186 | +73.3% |
| Other amounts receivable | 41 | €440 | €0 | -€440 | -100.0% |
| Current investments | 50/53 | €229,915 | €104,454 | -€125,461 | -54.6% |
| Cash at bank and in hand | 54/58 | €63,065 | €219,160 | +€156,094 | +247.5% |
| Deferred charges and accrued income | 490/1 | €1,880 | €4,077 | +€2,197 | +116.8% |
| Total equity and liabilities | 10/49 | €401,226 | €422,536 | +€21,310 | +5.3% |
| Equity | 10/15 | €382,922 | €394,861 | +€11,939 | +3.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Capital | 10 | €19,000 | €19,000 | = | 0.0% |
| Issued capital | 100 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €18,520 | €32,125 | +€13,605 | +73.5% |
| Non-distributable reserves | 130/1 | €3,020 | €3,020 | = | 0.0% |
| Legal reserve | 130 | €3,020 | €3,020 | = | 0.0% |
| Distributable reserves | 133 | €15,500 | €29,105 | +€13,605 | +87.8% |
| Profit (loss) carried forward | 14 | €345,402 | €343,736 | -€1,666 | -0.5% |
| Amounts payable | 17/49 | €18,303 | €27,675 | +€9,372 | +51.2% |
| Amounts payable within one year | 42/48 | €18,303 | €27,675 | +€9,372 | +51.2% |
| Trade debts | 44 | €793 | €2,710 | +€1,917 | +241.7% |
| Suppliers | 440/4 | €793 | €2,710 | +€1,917 | +241.7% |
| Taxes, remuneration and social security | 45 | €10,844 | €19,299 | +€8,455 | +78.0% |
| Taxes | 450/3 | €10,844 | €19,299 | +€8,455 | +78.0% |
| Other amounts payable | 47/48 | €6,666 | €5,666 | -€1,000 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,168 | €1,300 | -€5,867 | -81.9% |
| Other operating charges | 640/8 | €1,827 | €1,813 | -€14 | -0.8% |
| Gross operating margin | 9900 | €30,953 | €33,188 | +€2,235 | +7.2% |
| Operating profit (loss) | 9901 | €21,958 | €30,075 | +€8,116 | +37.0% |
| Financial income | 75/76B | €3,844 | €8,027 | +€4,182 | +108.8% |
| Recurring financial income | 75 | €3,844 | €7,432 | +€3,588 | +93.3% |
| Non-recurring financial income | 76B | - | €595 | +€595 | |
| Financial charges | 65/66B | €84 | €10,916 | +€10,831 | +12828.9% |
| Recurring financial charges | 65 | €84 | €228 | +€144 | +170.4% |
| Non-recurring financial charges | 66B | - | €10,688 | +€10,688 | |
| Profit (loss) for the period before taxes | 9903 | €25,718 | €27,186 | +€1,467 | +5.7% |
| Income taxes | 67/77 | €5,094 | €9,581 | +€4,487 | +88.1% |
| Profit (loss) for the period | 9904 | €20,624 | €17,605 | -€3,019 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,624 | €17,605 | -€3,019 | -14.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.