CARLIER: 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.
CARLIER
Largest movements
- Receivables within one year +€259,908
up €259,908 (+34.1%), from €761,245 to €1.0m
of which Trade receivables: +€246,896
- Reserves +€179,066
up €179,066 (+18.0%), from €995,379 to €1.2m
of which Distributable reserves: +€179,066
- Debts after one year -€51,490
down €51,490 (-17.4%), from €296,295 to €244,805
- Trade debts +€49,266
up €49,266 (+127.1%), from €38,756 to €88,022
- Tax, wage and social debts +€37,454
up €37,454 (+1680.6%), from €2,229 to €39,683
- Accrued charges and deferred income +€19,076
up €19,076, from €0 to €19,076
- Gross operating margin +€290,647
up €290,647 (+16976.5%), from €1,712 to €292,359
- Taxes +€54,683
up €54,683, from €0 to €54,683
- Depreciation -€29,626
down €29,626 (-53.9%), from €54,958 to €25,332
- Financial charges -€6,392
down €6,392 (-23.2%), from €27,541 to €21,149
- Other operating charges -€4,094
down €4,094 (-21.7%), from €18,891 to €14,797
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 | €1,635,292 | €1,869,264 | +€233,972 | +14.3% |
| Fixed assets | 21/28 | €841,480 | €832,020 | -€9,460 | -1.1% |
| Tangible fixed assets | 22/27 | €428,975 | €419,515 | -€9,460 | -2.2% |
| Land and buildings | 22 | €422,449 | €401,669 | -€20,780 | -4.9% |
| Plant, machinery and equipment | 23 | €3,132 | €16,418 | +€13,286 | +424.2% |
| Furniture and vehicles | 24 | €3,393 | €1,427 | -€1,966 | -57.9% |
| Financial fixed assets | 28 | €412,505 | €412,505 | = | 0.0% |
| Current assets | 29/58 | €793,812 | €1,037,244 | +€243,432 | +30.7% |
| Amounts receivable within one year | 40/41 | €761,245 | €1,021,154 | +€259,908 | +34.1% |
| Trade receivables | 40 | €551,747 | €798,643 | +€246,896 | +44.7% |
| Other amounts receivable | 41 | €209,499 | €222,511 | +€13,012 | +6.2% |
| Cash at bank and in hand | 54/58 | €26,748 | €10,009 | -€16,739 | -62.6% |
| Deferred charges and accrued income | 490/1 | €5,819 | €6,081 | +€262 | +4.5% |
| Total equity and liabilities | 10/49 | €1,635,292 | €1,869,264 | +€233,972 | +14.3% |
| Equity | 10/15 | €1,013,971 | €1,193,037 | +€179,066 | +17.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €995,379 | €1,174,445 | +€179,066 | +18.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €993,520 | €1,172,586 | +€179,066 | +18.0% |
| Amounts payable | 17/49 | €621,321 | €676,227 | +€54,906 | +8.8% |
| Amounts payable after more than one year | 17 | €296,295 | €244,805 | -€51,490 | -17.4% |
| Financial debts | 170/4 | €296,295 | €244,805 | -€51,490 | -17.4% |
| Amounts payable within one year | 42/48 | €325,027 | €412,346 | +€87,320 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €50,141 | €51,490 | +€1,349 | +2.7% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €38,756 | €88,022 | +€49,266 | +127.1% |
| Suppliers | 440/4 | €38,756 | €88,022 | +€49,266 | +127.1% |
| Taxes, remuneration and social security | 45 | €2,229 | €39,683 | +€37,454 | +1680.6% |
| Taxes | 450/3 | €2,229 | €39,683 | +€37,454 | +1680.6% |
| Other amounts payable | 47/48 | €108,901 | €108,151 | -€750 | -0.7% |
| Accrued charges and deferred income | 492/3 | €0 | €19,076 | +€19,076 | |
| Remuneration, social security and pensions | 62 | - | €480 | +€480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,958 | €25,332 | -€29,626 | -53.9% |
| Other operating charges | 640/8 | €18,891 | €14,797 | -€4,094 | -21.7% |
| Gross operating margin | 9900 | €1,712 | €292,359 | +€290,647 | +16976.5% |
| Operating profit (loss) | 9901 | -€72,137 | €251,750 | +€323,887 | |
| Financial income | 75/76B | €7,036 | €3,148 | -€3,888 | -55.3% |
| Recurring financial income | 75 | €7,036 | €3,148 | -€3,888 | -55.3% |
| Financial charges | 65/66B | €27,541 | €21,149 | -€6,392 | -23.2% |
| Recurring financial charges | 65 | €27,541 | €21,149 | -€6,392 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | -€92,642 | €233,749 | +€326,391 | |
| Income taxes | 67/77 | €0 | €54,683 | +€54,683 | |
| Profit (loss) for the period | 9904 | -€92,642 | €179,066 | +€271,708 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,642 | €179,066 | +€271,708 |
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 12 October 2026 via checked.be.