CARI: 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.
CARI
Largest movements
- Cash +€70,869
up €70,869 (+34.2%), from €206,990 to €277,859
mainly Receivables within one year (+€48,798) and Depreciation (+€23,596)
- Receivables within one year -€48,798
down €48,798 (-52.2%), from €93,432 to €44,634
- Intangible fixed assets +€13,624
up €13,624 (+50.8%), from €26,825 to €40,449
- Tangible fixed assets -€11,028
down €11,028 (-21.3%), from €51,731 to €40,702
of which Plant, machinery and equipment: -€8,085
- Stocks and contracts -€7,173
down €7,173 (-92.0%), from €7,793 to €620
- Trade debts +€22,643
up €22,643 (+129.4%), from €17,494 to €40,137
- Tax, wage and social debts -€19,562
down €19,562 (-21.7%), from €90,134 to €70,571
of which Remuneration and social security: -€14,277
- Profit (loss) carried forward +€13,081
up €13,081 (+5.5%), from €239,630 to €252,711
- Investment grants -€6,510
down €6,510 (-15.4%), from €42,397 to €35,887
- Staff costs -€57,020
down €57,020 (-9.3%), from €613,398 to €556,379
- Gross operating margin -€46,654
down €46,654 (-7.3%), from €640,822 to €594,168
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 | €402,639 | €415,816 | +€13,177 | +3.3% |
| Fixed assets | 21/28 | €78,556 | €81,151 | +€2,596 | +3.3% |
| Intangible fixed assets | 21 | €26,825 | €40,449 | +€13,624 | +50.8% |
| Tangible fixed assets | 22/27 | €51,731 | €40,702 | -€11,028 | -21.3% |
| Plant, machinery and equipment | 23 | €43,970 | €35,885 | -€8,085 | -18.4% |
| Furniture and vehicles | 24 | €7,761 | €4,817 | -€2,943 | -37.9% |
| Current assets | 29/58 | €324,083 | €334,664 | +€10,581 | +3.3% |
| Stocks and contracts in progress | 3 | €7,793 | €620 | -€7,173 | -92.0% |
| Stocks | 30/36 | €7,793 | €620 | -€7,173 | -92.0% |
| Amounts receivable within one year | 40/41 | €93,432 | €44,634 | -€48,798 | -52.2% |
| Trade receivables | 40 | €93,432 | €44,634 | -€48,798 | -52.2% |
| Cash at bank and in hand | 54/58 | €206,990 | €277,859 | +€70,869 | +34.2% |
| Deferred charges and accrued income | 490/1 | €15,868 | €11,552 | -€4,316 | -27.2% |
| Total equity and liabilities | 10/49 | €402,639 | €415,816 | +€13,177 | +3.3% |
| Equity | 10/15 | €282,027 | €288,598 | +€6,571 | +2.3% |
| Profit (loss) carried forward | 14 | €239,630 | €252,711 | +€13,081 | +5.5% |
| Investment grants | 15 | €42,397 | €35,887 | -€6,510 | -15.4% |
| Amounts payable | 17/49 | €120,612 | €127,218 | +€6,606 | +5.5% |
| Amounts payable within one year | 42/48 | €107,740 | €110,708 | +€2,968 | +2.8% |
| Financial debts | 43 | €113 | - | -€113 | |
| Credit institutions | 430/8 | €113 | - | -€113 | |
| Trade debts | 44 | €17,494 | €40,137 | +€22,643 | +129.4% |
| Suppliers | 440/4 | €17,494 | €40,137 | +€22,643 | +129.4% |
| Taxes, remuneration and social security | 45 | €90,134 | €70,571 | -€19,562 | -21.7% |
| Taxes | 450/3 | €9,144 | €3,858 | -€5,286 | -57.8% |
| Remuneration and social security | 454/9 | €80,990 | €66,713 | -€14,277 | -17.6% |
| Accrued charges and deferred income | 492/3 | €12,872 | €16,510 | +€3,638 | +28.3% |
| Remuneration, social security and pensions | 62 | €613,398 | €556,379 | -€57,020 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,776 | €23,596 | -€5,180 | -18.0% |
| Other operating charges | 640/8 | €3,959 | €635 | -€3,324 | -84.0% |
| Gross operating margin | 9900 | €640,822 | €594,168 | -€46,654 | -7.3% |
| Operating profit (loss) | 9901 | -€5,311 | €13,558 | +€18,869 | |
| Financial income | 75/76B | €984 | €701 | -€284 | -28.8% |
| Recurring financial income | 75 | €984 | €701 | -€284 | -28.8% |
| Financial charges | 65/66B | €542 | €1,061 | +€519 | +95.7% |
| Recurring financial charges | 65 | €542 | €1,061 | +€519 | +95.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,869 | €13,198 | +€18,066 | |
| Income taxes | 67/77 | €131 | €117 | -€14 | -10.8% |
| Profit (loss) for the period | 9904 | -€5,000 | €13,081 | +€18,081 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,000 | €13,081 | +€18,081 |
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.