CARIVARO: 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.
CARIVARO
Largest movements
- Current investments +€4.0m
new in 2025: €4.0m
- Financial fixed assets -€2.3m
down €2.3m (-95.9%), from €2.4m to €99,999
- Cash +€308,243
up €308,243 (+117%), from €264,049 to €572,292
mainly Net result for the year (+€2.5m) and Investment in fixed assets (net) (+€2.3m)
- Receivables after one year +€300,011
new in 2025: €300,011
- Reserves +€2.1m
up €2.1m (+171%), from €1.3m to €3.4m
of which Distributable reserves: +€2.1m
- Tax, wage and social debts +€167,838
up €167,838 (+484%), from €34,679 to €202,517
of which Taxes: +€164,963
- Debts after one year -€114,971
down €114,971 (-54.4%), from €211,279 to €96,308
- Financial income +€2.8m
up €2.8m (+8,220,030%), from €35 to €2.8m
of which Non-recurring financial income: +€2.8m
- Other operating charges +€430,865
up €430,865 (+18,029%), from €2,390 to €433,255
- Financial charges +€140,958
up €140,958 (+6,211%), from €2,270 to €143,228
of which Non-recurring financial charges: +€116,929
- Gross operating margin +€128,238
up €128,238 (+22.0%), from €582,332 to €710,570
- Taxes +€117,969
up €117,969 (+164%), from €72,094 to €190,063
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 | €3,939,457 | €6,143,021 | +€2.2m | +55.9% |
| Fixed assets | 21/28 | €3,618,143 | €1,241,583 | -€2.4m | -65.7% |
| Tangible fixed assets | 22/27 | €1,181,214 | €1,141,584 | -€39,629 | -3.4% |
| Land and buildings | 22 | €1,084,123 | €1,028,429 | -€55,694 | -5.1% |
| Furniture and vehicles | 24 | €84,573 | €103,705 | +€19,132 | +22.6% |
| Other tangible fixed assets | 26 | €12,518 | €9,450 | -€3,068 | -24.5% |
| Financial fixed assets | 28 | €2,436,930 | €99,999 | -€2.3m | -95.9% |
| Current assets | 29/58 | €321,314 | €4,901,437 | +€4.6m | +1,425% |
| Amounts receivable after more than one year | 29 | - | €300,011 | +€300,011 | |
| Other amounts receivable | 291 | - | €300,011 | +€300,011 | |
| Amounts receivable within one year | 40/41 | €33,691 | €40,548 | +€6,856 | +20.4% |
| Trade receivables | 40 | €31,598 | €40,548 | +€8,950 | +28.3% |
| Other amounts receivable | 41 | €2,093 | €0 | -€2,093 | -100% |
| Current investments | 50/53 | - | €3,988,587 | +€4.0m | |
| Cash at bank and in hand | 54/58 | €264,049 | €572,292 | +€308,243 | +117% |
| Deferred charges and accrued income | 490/1 | €23,573 | €0 | -€23,573 | -100% |
| Total equity and liabilities | 10/49 | €3,939,457 | €6,143,021 | +€2.2m | +55.9% |
| Equity | 10/15 | €3,571,635 | €5,714,558 | +€2.1m | +60.0% |
| Contributions | 10/11 | €2,320,000 | €2,320,000 | = | 0.0% |
| Reserves | 13 | €1,251,635 | €3,394,558 | +€2.1m | +171% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,400 | €168,400 | = | 0.0% |
| Distributable reserves | 133 | €1,063,235 | €3,206,158 | +€2.1m | +202% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €367,822 | €428,462 | +€60,640 | +16.5% |
| Amounts payable after more than one year | 17 | €211,279 | €96,308 | -€114,971 | -54.4% |
| Financial debts | 170/4 | €211,279 | €96,308 | -€114,971 | -54.4% |
| Amounts payable within one year | 42/48 | €156,543 | €332,154 | +€175,611 | +112% |
| Current portion of amounts payable after more than one year | 42 | €114,320 | €114,971 | +€651 | +0.6% |
| Trade debts | 44 | €7,544 | €14,666 | +€7,122 | +94.4% |
| Suppliers | 440/4 | €7,544 | €14,666 | +€7,122 | +94.4% |
| Taxes, remuneration and social security | 45 | €34,679 | €202,517 | +€167,838 | +484% |
| Taxes | 450/3 | €26,930 | €191,893 | +€164,963 | +613% |
| Remuneration and social security | 454/9 | €7,749 | €10,624 | +€2,875 | +37.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €90,734 | €97,697 | +€6,964 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,861 | €49,111 | +€250 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,000 | €0 | -€60,000 | -100% |
| Other operating charges | 640/8 | €2,390 | €433,255 | +€430,865 | +18,029% |
| Non-recurring operating charges | 66A | €160,711 | €161,460 | +€749 | +0.5% |
| Gross operating margin | 9900 | €582,332 | €710,570 | +€128,238 | +22.0% |
| Operating profit (loss) | 9901 | €219,637 | -€30,954 | -€250,590 | |
| Financial income | 75/76B | €35 | €2,839,233 | +€2.8m | +8,220,030% |
| Recurring financial income | 75 | €35 | €73,633 | +€73,598 | +213,081% |
| Non-recurring financial income | 76B | - | €2,765,600 | +€2.8m | |
| Financial charges | 65/66B | €2,270 | €143,228 | +€140,958 | +6,211% |
| Recurring financial charges | 65 | €2,270 | €26,299 | +€24,030 | +1,059% |
| Non-recurring financial charges | 66B | - | €116,929 | +€116,929 | |
| Profit (loss) for the period before taxes | 9903 | €217,402 | €2,665,051 | +€2.4m | +1,126% |
| Income taxes | 67/77 | €72,094 | €190,063 | +€117,969 | +164% |
| Profit (loss) for the period | 9904 | €145,307 | €2,474,988 | +€2.3m | +1,603% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €145,307 | €2,474,988 | +€2.3m | +1,603% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.