CARISA: 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.
CARISA
Largest movements
- Stocks and contracts +€840,134
up €840,134 (+8201.1%), from €10,244 to €850,378
- Financial fixed assets -€179,636
down €179,636 (-100.0%), from €179,636 to €0
- Tangible fixed assets -€125,217
down €125,217 (-34.7%), from €360,957 to €235,740
- Receivables within one year +€11,500
new in 2025: €11,500
- Short-term financial debts +€253,578
new in 2025: €253,578
- Debts after one year +€182,404
up €182,404 (+61.3%), from €297,672 to €480,076
- Trade debts +€60,716
up €60,716 (+8259.8%), from €735 to €61,451
- Reserves +€60,150
up €60,150 (+31.8%), from €189,101 to €249,251
of which Tax-exempt reserves: +€60,150
- Profit (loss) carried forward -€29,237
down €29,237, from €0 to -€29,237
- Gross operating margin +€77,919
up €77,919 (+511.4%), from €15,238 to €93,157
- Financial charges +€18,750
up €18,750 (+189.5%), from €9,895 to €28,645
- Financial income -€2,063
down €2,063 (-100.0%), from €2,063 to €0
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 | €557,880 | €1,098,929 | +€541,048 | +97.0% |
| Fixed assets | 21/28 | €540,594 | €235,740 | -€304,853 | -56.4% |
| Tangible fixed assets | 22/27 | €360,957 | €235,740 | -€125,217 | -34.7% |
| Land and buildings | 22 | €360,957 | €235,740 | -€125,217 | -34.7% |
| Financial fixed assets | 28 | €179,636 | €0 | -€179,636 | -100.0% |
| Current assets | 29/58 | €17,287 | €863,188 | +€845,902 | +4893.3% |
| Stocks and contracts in progress | 3 | €10,244 | €850,378 | +€840,134 | +8201.1% |
| Contracts in progress | 37 | €10,244 | €850,378 | +€840,134 | +8201.1% |
| Amounts receivable within one year | 40/41 | - | €11,500 | +€11,500 | |
| Other amounts receivable | 41 | - | €11,500 | +€11,500 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,780 | €1,103 | -€3,677 | -76.9% |
| Deferred charges and accrued income | 490/1 | €2,263 | €207 | -€2,056 | -90.8% |
| Total equity and liabilities | 10/49 | €557,880 | €1,098,929 | +€541,048 | +97.0% |
| Equity | 10/15 | €207,693 | €238,606 | +€30,913 | +14.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €189,101 | €249,251 | +€60,150 | +31.8% |
| Tax-exempt reserves | 132 | - | €60,150 | +€60,150 | |
| Distributable reserves | 133 | €189,101 | €189,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€29,237 | -€29,237 | |
| Provisions and deferred taxes | 16 | - | €20,050 | +€20,050 | |
| Deferred taxes | 168 | - | €20,050 | +€20,050 | |
| Amounts payable | 17/49 | €350,187 | €840,272 | +€490,085 | +139.9% |
| Amounts payable after more than one year | 17 | €297,672 | €480,076 | +€182,404 | +61.3% |
| Financial debts | 170/4 | €297,672 | €480,076 | +€182,404 | +61.3% |
| Amounts payable within one year | 42/48 | €50,942 | €358,488 | +€307,545 | +603.7% |
| Current portion of amounts payable after more than one year | 42 | €25,306 | €15,673 | -€9,633 | -38.1% |
| Financial debts | 43 | - | €253,578 | +€253,578 | |
| Credit institutions | 430/8 | - | €253,578 | +€253,578 | |
| Trade debts | 44 | €735 | €61,451 | +€60,716 | +8259.8% |
| Suppliers | 440/4 | €735 | €61,451 | +€60,716 | +8259.8% |
| Other amounts payable | 47/48 | €24,901 | €27,786 | +€2,885 | +11.6% |
| Accrued charges and deferred income | 492/3 | €1,573 | €1,709 | +€136 | +8.6% |
| Non-recurring operating income | 76A | - | €80,750 | +€80,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,967 | €10,967 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,657 | €2,582 | -€75 | -2.8% |
| Gross operating margin | 9900 | €15,238 | €93,157 | +€77,919 | +511.4% |
| Operating profit (loss) | 9901 | €1,614 | €79,608 | +€77,994 | +4832.9% |
| Financial income | 75/76B | €2,063 | €0 | -€2,063 | -100.0% |
| Recurring financial income | 75 | €2,063 | €0 | -€2,063 | -100.0% |
| Financial charges | 65/66B | €9,895 | €28,645 | +€18,750 | +189.5% |
| Recurring financial charges | 65 | €9,895 | €28,645 | +€18,750 | +189.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,217 | €50,963 | +€57,181 | |
| Transfer from deferred taxes | 780 | - | €137 | +€137 | |
| Transfer to deferred taxes | 680 | - | €20,188 | +€20,188 | |
| Income taxes | 67/77 | €21 | €0 | -€21 | -100.0% |
| Profit (loss) for the period | 9904 | -€6,239 | €30,913 | +€37,152 | |
| Transfer from tax-exempt reserves | 789 | - | €412 | +€412 | |
| Transfer to tax-exempt reserves | 689 | - | €60,563 | +€60,563 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,239 | -€29,237 | -€22,999 | -368.6% |
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 5 October 2026 via checked.be.