CARL ART: 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.
CARL ART
Largest movements
- Receivables within one year +€47,752
up €47,752 (+46.3%), from €103,186 to €150,938
of which Other amounts receivable: +€76,328
- Cash -€23,457
down €23,457 (-15.5%), from €151,104 to €127,647
mainly Receivables within one year (-€47,752) and Investment in fixed assets (net) (-€4,779)
- Tangible fixed assets -€10,204
down €10,204 (-36.0%), from €28,366 to €18,162
of which Furniture and vehicles: -€5,331
- Trade debts +€7,084
up €7,084 (+6.3%), from €111,812 to €118,896
- Tax, wage and social debts +€4,959
up €4,959 (+21.8%), from €22,767 to €27,726
of which Remuneration and social security: +€4,271
- Gross operating margin -€80,766
down €80,766 (-34.0%), from €237,738 to €156,972
- Staff costs +€5,488
up €5,488 (+3.9%), from €139,627 to €145,115
- Taxes -€4,464
down €4,464 (-91.9%), from €4,858 to €394
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 | €302,004 | €317,142 | +€15,138 | +5.0% |
| Fixed assets | 21/28 | €29,654 | €20,017 | -€9,637 | -32.5% |
| Tangible fixed assets | 22/27 | €28,366 | €18,162 | -€10,204 | -36.0% |
| Plant, machinery and equipment | 23 | €8,983 | €4,110 | -€4,873 | -54.2% |
| Furniture and vehicles | 24 | €19,383 | €14,052 | -€5,331 | -27.5% |
| Financial fixed assets | 28 | €1,288 | €1,855 | +€567 | +44.0% |
| Current assets | 29/58 | €272,350 | €297,125 | +€24,775 | +9.1% |
| Stocks and contracts in progress | 3 | €18,060 | €18,540 | +€480 | +2.7% |
| Stocks | 30/36 | €18,060 | €18,540 | +€480 | +2.7% |
| Amounts receivable within one year | 40/41 | €103,186 | €150,938 | +€47,752 | +46.3% |
| Trade receivables | 40 | €89,785 | €61,209 | -€28,576 | -31.8% |
| Other amounts receivable | 41 | €13,401 | €89,729 | +€76,328 | +570% |
| Cash at bank and in hand | 54/58 | €151,104 | €127,647 | -€23,457 | -15.5% |
| Total equity and liabilities | 10/49 | €302,004 | €317,142 | +€15,138 | +5.0% |
| Equity | 10/15 | €143,425 | €146,520 | +€3,095 | +2.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,425 | €142,520 | +€3,095 | +2.2% |
| Amounts payable | 17/49 | €158,579 | €170,622 | +€12,043 | +7.6% |
| Amounts payable within one year | 42/48 | €158,579 | €170,622 | +€12,043 | +7.6% |
| Trade debts | 44 | €111,812 | €118,896 | +€7,084 | +6.3% |
| Suppliers | 440/4 | €111,812 | €118,896 | +€7,084 | +6.3% |
| Taxes, remuneration and social security | 45 | €22,767 | €27,726 | +€4,959 | +21.8% |
| Taxes | 450/3 | €532 | €1,220 | +€688 | +129% |
| Remuneration and social security | 454/9 | €22,235 | €26,506 | +€4,271 | +19.2% |
| Other amounts payable | 47/48 | €24,000 | €24,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €139,627 | €145,115 | +€5,488 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,112 | €14,416 | +€304 | +2.2% |
| Other operating charges | 640/8 | €2,516 | €3,147 | +€631 | +25.1% |
| Gross operating margin | 9900 | €237,738 | €156,972 | -€80,766 | -34.0% |
| Operating profit (loss) | 9901 | €81,483 | -€5,706 | -€87,189 | |
| Financial income | 75/76B | €8,948 | €9,673 | +€725 | +8.1% |
| Recurring financial income | 75 | €14 | €22 | +€8 | +57.1% |
| Non-recurring financial income | 76B | €8,934 | €9,651 | +€717 | +8.0% |
| Financial charges | 65/66B | €599 | €478 | -€121 | -20.2% |
| Recurring financial charges | 65 | €599 | €478 | -€121 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €89,832 | €3,489 | -€86,343 | -96.1% |
| Income taxes | 67/77 | €4,858 | €394 | -€4,464 | -91.9% |
| Profit (loss) for the period | 9904 | €84,974 | €3,095 | -€81,879 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,974 | €3,095 | -€81,879 | -96.4% |
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 1 November 2026 via checked.be.