CARLIER ACTIVITY: 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 ACTIVITY
Largest movements
- Cash -€384,938
down €384,938 (-73.4%), from €524,681 to €139,744
mainly Contributions, distributions and other (-€436,100) and Receivables within one year (-€171,127)
- Receivables within one year +€171,127
up €171,127 (+17.1%), from €998,257 to €1.2m
of which Other amounts receivable: +€149,494
- Stocks and contracts -€139,521
down €139,521 (-9.2%), from €1.5m to €1.4m
- Current investments +€70,185
new in 2025: €70,185
- Tangible fixed assets -€50,630
down €50,630 (-16.0%), from €316,572 to €265,943
of which Furniture and vehicles: -€36,625
- Reserves -€588,819
down €588,819 (-25.1%), from €2.3m to €1.8m
of which Distributable reserves: -€588,819
- Other debts +€349,884
up €349,884 (+355%), from €98,628 to €448,512
- Gross operating margin -€384,229
down €384,229 (-61.2%), from €627,944 to €243,715
- Taxes -€55,733
down €55,733 (-99.3%), from €56,141 to €408
- Depreciation -€25,738
down €25,738 (-24.6%), from €104,804 to €79,066
- Staff costs -€22,806
down €22,806 (-7.4%), from €309,596 to €286,790
- Financial charges -€8,515
down €8,515 (-22.2%), from €38,405 to €29,890
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 | €3,381,446 | €3,044,290 | -€337,156 | -10.0% |
| Fixed assets | 21/28 | €334,039 | €281,951 | -€52,088 | -15.6% |
| Intangible fixed assets | 21 | €16,007 | €14,549 | -€1,459 | -9.1% |
| Tangible fixed assets | 22/27 | €316,572 | €265,943 | -€50,630 | -16.0% |
| Land and buildings | 22 | €204,627 | €176,124 | -€28,502 | -13.9% |
| Plant, machinery and equipment | 23 | €17,242 | €31,740 | +€14,497 | +84.1% |
| Furniture and vehicles | 24 | €94,704 | €58,079 | -€36,625 | -38.7% |
| Financial fixed assets | 28 | €1,460 | €1,460 | = | 0.0% |
| Current assets | 29/58 | €3,047,406 | €2,762,339 | -€285,067 | -9.4% |
| Stocks and contracts in progress | 3 | €1,519,986 | €1,380,464 | -€139,521 | -9.2% |
| Stocks | 30/36 | €1,519,986 | €1,380,464 | -€139,521 | -9.2% |
| Amounts receivable within one year | 40/41 | €998,257 | €1,169,384 | +€171,127 | +17.1% |
| Trade receivables | 40 | €838,671 | €860,304 | +€21,633 | +2.6% |
| Other amounts receivable | 41 | €159,586 | €309,080 | +€149,494 | +93.7% |
| Current investments | 50/53 | - | €70,185 | +€70,185 | |
| Cash at bank and in hand | 54/58 | €524,681 | €139,744 | -€384,938 | -73.4% |
| Deferred charges and accrued income | 490/1 | €4,483 | €2,562 | -€1,920 | -42.8% |
| Total equity and liabilities | 10/49 | €3,381,446 | €3,044,290 | -€337,156 | -10.0% |
| Equity | 10/15 | €2,449,404 | €1,860,585 | -€588,819 | -24.0% |
| Contributions | 10/11 | €104,884 | €104,884 | = | 0.0% |
| Reserves | 13 | €2,344,520 | €1,755,702 | -€588,819 | -25.1% |
| Non-distributable reserves | 130/1 | €265 | €265 | = | 0.0% |
| Other | 1319 | €265 | €265 | = | 0.0% |
| Distributable reserves | 133 | €2,344,255 | €1,755,437 | -€588,819 | -25.1% |
| Amounts payable | 17/49 | €932,042 | €1,183,705 | +€251,663 | +27.0% |
| Amounts payable after more than one year | 17 | €264,632 | €236,600 | -€28,032 | -10.6% |
| Financial debts | 170/4 | €264,632 | €236,600 | -€28,032 | -10.6% |
| Amounts payable within one year | 42/48 | €667,409 | €947,105 | +€279,695 | +41.9% |
| Current portion of amounts payable after more than one year | 42 | €51,534 | €28,032 | -€23,502 | -45.6% |
| Financial debts | 43 | €375,000 | €375,000 | = | 0.0% |
| Other loans | 439 | €375,000 | €375,000 | = | 0.0% |
| Trade debts | 44 | €80,668 | €65,337 | -€15,330 | -19.0% |
| Suppliers | 440/4 | €80,668 | €65,337 | -€15,330 | -19.0% |
| Taxes, remuneration and social security | 45 | €61,579 | €30,223 | -€31,356 | -50.9% |
| Taxes | 450/3 | €28,612 | €4,248 | -€24,364 | -85.2% |
| Remuneration and social security | 454/9 | €32,967 | €25,975 | -€6,992 | -21.2% |
| Other amounts payable | 47/48 | €98,628 | €448,512 | +€349,884 | +355% |
| Non-recurring operating income | 76A | - | €1,164 | +€1,164 | |
| Remuneration, social security and pensions | 62 | €309,596 | €286,790 | -€22,806 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,804 | €79,066 | -€25,738 | -24.6% |
| Other operating charges | 640/8 | €17,693 | €19,025 | +€1,333 | +7.5% |
| Non-recurring operating charges | 66A | €14,776 | €10,274 | -€4,503 | -30.5% |
| Gross operating margin | 9900 | €627,944 | €243,715 | -€384,229 | -61.2% |
| Operating profit (loss) | 9901 | €181,075 | -€151,440 | -€332,515 | |
| Financial income | 75/76B | €26,838 | €29,020 | +€2,182 | +8.1% |
| Recurring financial income | 75 | €26,838 | €29,020 | +€2,182 | +8.1% |
| Financial charges | 65/66B | €38,405 | €29,890 | -€8,515 | -22.2% |
| Recurring financial charges | 65 | €38,405 | €29,890 | -€8,515 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €169,507 | -€152,310 | -€321,818 | |
| Income taxes | 67/77 | €56,141 | €408 | -€55,733 | -99.3% |
| Profit (loss) for the period | 9904 | €113,366 | -€152,719 | -€266,085 | |
| Profit (loss) for the period to be appropriated | 9905 | €113,366 | -€152,719 | -€266,085 |
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 13 October 2026 via checked.be.