CARIGI: 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.
CARIGI
Largest movements
- Cash +€542,590
up €542,590 (+79.1%), from €685,572 to €1.2m
mainly Net result for the year (+€778,495) and Stocks and contracts (+€80,012)
- Current investments +€260,107
up €260,107 (+14.9%), from €1.7m to €2.0m
- Stocks and contracts -€80,012
down €80,012 (-2.3%), from €3.5m to €3.4m
- Reserves +€778,495
up €778,495 (+11.6%), from €6.7m to €7.5m
of which Distributable reserves: +€525,895
- Other debts -€192,481
down €192,481 (-84.5%), from €227,800 to €35,319
- Gross operating margin -€107,994
down €107,994 (-9.0%), from €1.2m to €1.1m
- Taxes -€90,621
down €90,621 (-22.3%), from €405,681 to €315,061
- Financial charges -€12,041
down €12,041 (-68.3%), from €17,618 to €5,578
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.
Derived cash bridge
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 | €7,238,429 | €7,853,823 | +€615,394 | +8.5% |
| Fixed assets | 21/28 | €241,752 | €188,943 | -€52,809 | -21.8% |
| Tangible fixed assets | 22/27 | €241,752 | €188,943 | -€52,809 | -21.8% |
| Land and buildings | 22 | €74,095 | €71,985 | -€2,109 | -2.8% |
| Plant, machinery and equipment | 23 | €28,788 | €21,141 | -€7,646 | -26.6% |
| Furniture and vehicles | 24 | €32,116 | €22,390 | -€9,726 | -30.3% |
| Other tangible fixed assets | 26 | €106,754 | €73,426 | -€33,328 | -31.2% |
| Current assets | 29/58 | €6,996,677 | €7,664,880 | +€668,203 | +9.6% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,000,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,476,826 | €3,396,814 | -€80,012 | -2.3% |
| Stocks | 30/36 | €3,476,826 | €3,396,814 | -€80,012 | -2.3% |
| Amounts receivable within one year | 40/41 | €85,553 | €32,032 | -€53,521 | -62.6% |
| Trade receivables | 40 | €17,950 | €1,513 | -€16,438 | -91.6% |
| Other amounts receivable | 41 | €67,603 | €30,519 | -€37,084 | -54.9% |
| Current investments | 50/53 | €1,747,215 | €2,007,322 | +€260,107 | +14.9% |
| Cash at bank and in hand | 54/58 | €685,572 | €1,228,163 | +€542,590 | +79.1% |
| Deferred charges and accrued income | 490/1 | €1,511 | €550 | -€961 | -63.6% |
| Total equity and liabilities | 10/49 | €7,238,429 | €7,853,823 | +€615,394 | +8.5% |
| Equity | 10/15 | €6,754,513 | €7,533,009 | +€778,495 | +11.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,735,921 | €7,514,417 | +€778,495 | +11.6% |
| Tax-exempt reserves | 132 | €505,200 | €757,800 | +€252,600 | +50.0% |
| Distributable reserves | 133 | €6,230,721 | €6,756,617 | +€525,895 | +8.4% |
| Amounts payable | 17/49 | €483,916 | €320,814 | -€163,102 | -33.7% |
| Amounts payable within one year | 42/48 | €483,916 | €320,814 | -€163,102 | -33.7% |
| Trade debts | 44 | €35,853 | €36,256 | +€403 | +1.1% |
| Suppliers | 440/4 | €35,853 | €36,256 | +€403 | +1.1% |
| Taxes, remuneration and social security | 45 | €220,263 | €249,240 | +€28,977 | +13.2% |
| Taxes | 450/3 | €220,263 | €249,240 | +€28,977 | +13.2% |
| Other amounts payable | 47/48 | €227,800 | €35,319 | -€192,481 | -84.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,144 | €52,809 | -€335 | -0.6% |
| Other operating charges | 640/8 | €1,563 | €1,603 | +€40 | +2.5% |
| Gross operating margin | 9900 | €1,197,767 | €1,089,772 | -€107,994 | -9.0% |
| Operating profit (loss) | 9901 | €1,143,059 | €1,035,360 | -€107,699 | -9.4% |
| Financial income | 75/76B | €66,694 | €63,774 | -€2,921 | -4.4% |
| Recurring financial income | 75 | €66,694 | €63,774 | -€2,921 | -4.4% |
| Financial charges | 65/66B | €17,618 | €5,578 | -€12,041 | -68.3% |
| Recurring financial charges | 65 | €17,618 | €5,578 | -€12,041 | -68.3% |
| Profit (loss) for the period before taxes | 9903 | €1,192,135 | €1,093,556 | -€98,579 | -8.3% |
| Income taxes | 67/77 | €405,681 | €315,061 | -€90,621 | -22.3% |
| Profit (loss) for the period | 9904 | €786,454 | €778,495 | -€7,958 | -1.0% |
| Transfer from tax-exempt reserves | 789 | €336,800 | €168,400 | -€168,400 | -50.0% |
| Transfer to tax-exempt reserves | 689 | - | €421,000 | +€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,123,254 | €525,895 | -€597,358 | -53.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.