CARLO STUDIO: 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.
CARLO STUDIO
Largest movements
- Cash +€29,457
up €29,457 (+26.5%), from €111,166 to €140,624
mainly Net result for the year (+€27,130) and Receivables within one year (+€9,413)
- Receivables within one year -€9,413
down €9,413 (-54.2%), from €17,369 to €7,955
of which Other amounts receivable: -€7,836
- Stocks and contracts +€1,734
up €1,734 (+15.7%), from €11,027 to €12,762
- Reserves +€25,000
up €25,000 (+148.3%), from €16,859 to €41,859
- Other debts -€10,903
down €10,903 (-61.9%), from €17,627 to €6,724
- Tax, wage and social debts +€5,992
up €5,992 (+24.5%), from €24,444 to €30,436
of which Taxes: +€5,304
- Profit (loss) carried forward +€2,130
up €2,130 (+3.3%), from €64,869 to €66,999
- Gross operating margin +€14,294
up €14,294 (+8.4%), from €169,174 to €183,468
- Taxes +€7,669
up €7,669 (+418.9%), from €1,831 to €9,500
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 | €144,014 | €165,160 | +€21,147 | +14.7% |
| Fixed assets | 21/28 | €2,935 | €2,238 | -€697 | -23.7% |
| Tangible fixed assets | 22/27 | €2,735 | €2,038 | -€697 | -25.5% |
| Other tangible fixed assets | 26 | €2,735 | €2,038 | -€697 | -25.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €141,079 | €162,922 | +€21,843 | +15.5% |
| Stocks and contracts in progress | 3 | €11,027 | €12,762 | +€1,734 | +15.7% |
| Stocks | 30/36 | €11,027 | €12,762 | +€1,734 | +15.7% |
| Amounts receivable within one year | 40/41 | €17,369 | €7,955 | -€9,413 | -54.2% |
| Trade receivables | 40 | €9,533 | €7,955 | -€1,578 | -16.5% |
| Other amounts receivable | 41 | €7,836 | - | -€7,836 | |
| Cash at bank and in hand | 54/58 | €111,166 | €140,624 | +€29,457 | +26.5% |
| Deferred charges and accrued income | 490/1 | €1,517 | €1,581 | +€65 | +4.3% |
| Total equity and liabilities | 10/49 | €144,014 | €165,160 | +€21,147 | +14.7% |
| Equity | 10/15 | €87,926 | €115,055 | +€27,130 | +30.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €16,859 | €41,859 | +€25,000 | +148.3% |
| Distributable reserves | 133 | €16,859 | €41,859 | +€25,000 | +148.3% |
| Profit (loss) carried forward | 14 | €64,869 | €66,999 | +€2,130 | +3.3% |
| Amounts payable | 17/49 | €56,088 | €50,105 | -€5,983 | -10.7% |
| Amounts payable within one year | 42/48 | €56,088 | €50,105 | -€5,983 | -10.7% |
| Trade debts | 44 | €14,016 | €12,945 | -€1,072 | -7.6% |
| Suppliers | 440/4 | €14,016 | €12,945 | -€1,072 | -7.6% |
| Taxes, remuneration and social security | 45 | €24,444 | €30,436 | +€5,992 | +24.5% |
| Taxes | 450/3 | €4,875 | €10,179 | +€5,304 | +108.8% |
| Remuneration and social security | 454/9 | €19,569 | €20,257 | +€688 | +3.5% |
| Other amounts payable | 47/48 | €17,627 | €6,724 | -€10,903 | -61.9% |
| Remuneration, social security and pensions | 62 | €145,515 | €144,387 | -€1,128 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,234 | €697 | -€537 | -43.5% |
| Other operating charges | 640/8 | €1,988 | €933 | -€1,055 | -53.1% |
| Gross operating margin | 9900 | €169,174 | €183,468 | +€14,294 | +8.4% |
| Operating profit (loss) | 9901 | €20,438 | €37,452 | +€17,014 | +83.2% |
| Financial income | 75/76B | €212 | €179 | -€33 | -15.6% |
| Recurring financial income | 75 | €212 | €179 | -€33 | -15.6% |
| Financial charges | 65/66B | €1,138 | €1,002 | -€137 | -12.0% |
| Recurring financial charges | 65 | €1,138 | €1,002 | -€137 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €19,512 | €36,629 | +€17,118 | +87.7% |
| Income taxes | 67/77 | €1,831 | €9,500 | +€7,669 | +418.9% |
| Profit (loss) for the period | 9904 | €17,681 | €27,130 | +€9,449 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,681 | €27,130 | +€9,449 | +53.4% |
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 9 October 2026 via checked.be.