Carlos: what changed
Two fiscal 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.
Carlos
Largest movements
- Receivables within one year +€112,312
up €112,312 (+325.7%), from €34,479 to €146,791
of which Other amounts receivable: +€117,474
- Cash -€33,424
down €33,424 (-56.0%), from €59,689 to €26,266
mainly Receivables within one year (-€112,312) and Deferred charges and accrued income (-€5,978)
- Deferred charges and accrued income +€5,978
up €5,978 (+49.3%), from €12,134 to €18,113
- Stocks and contracts +€2,540
up €2,540 (+174.4%), from €1,456 to €3,996
- Profit (loss) carried forward +€59,840
up €59,840 (+105.7%), from €56,639 to €116,479
- Tax, wage and social debts +€22,683
up €22,683 (+143.7%), from €15,787 to €38,470
- Trade debts +€4,534
up €4,534 (+26.6%), from €17,078 to €21,612
- Gross operating margin +€39,103
up €39,103 (+80.2%), from €48,760 to €87,863
- Taxes +€11,466
up €11,466 (+78.9%), from €14,532 to €25,998
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 | €108,141 | €195,198 | +€87,057 | +80.5% |
| Fixed assets | 21/28 | €382 | €33 | -€350 | -91.5% |
| Tangible fixed assets | 22/27 | €382 | €33 | -€350 | -91.5% |
| Plant, machinery and equipment | 23 | €252 | - | -€252 | |
| Furniture and vehicles | 24 | €130 | €33 | -€98 | -75.0% |
| Current assets | 29/58 | €107,759 | €195,165 | +€87,406 | +81.1% |
| Stocks and contracts in progress | 3 | €1,456 | €3,996 | +€2,540 | +174.4% |
| Stocks | 30/36 | €1,456 | €3,996 | +€2,540 | +174.4% |
| Amounts receivable within one year | 40/41 | €34,479 | €146,791 | +€112,312 | +325.7% |
| Trade receivables | 40 | €10,768 | €5,606 | -€5,162 | -47.9% |
| Other amounts receivable | 41 | €23,711 | €141,185 | +€117,474 | +495.4% |
| Cash at bank and in hand | 54/58 | €59,689 | €26,266 | -€33,424 | -56.0% |
| Deferred charges and accrued income | 490/1 | €12,134 | €18,113 | +€5,978 | +49.3% |
| Total equity and liabilities | 10/49 | €108,141 | €195,198 | +€87,057 | +80.5% |
| Equity | 10/15 | €75,277 | €135,116 | +€59,840 | +79.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37 | €37 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37 | €37 | = | 0.0% |
| Reserves not available under the articles | 1311 | €37 | €37 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,639 | €116,479 | +€59,840 | +105.7% |
| Amounts payable | 17/49 | €32,865 | €60,081 | +€27,217 | +82.8% |
| Amounts payable within one year | 42/48 | €32,865 | €60,081 | +€27,217 | +82.8% |
| Trade debts | 44 | €17,078 | €21,612 | +€4,534 | +26.6% |
| Suppliers | 440/4 | €17,078 | €21,612 | +€4,534 | +26.6% |
| Taxes, remuneration and social security | 45 | €15,787 | €38,470 | +€22,683 | +143.7% |
| Taxes | 450/3 | €15,787 | €38,470 | +€22,683 | +143.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €579 | €350 | -€229 | -39.6% |
| Other operating charges | 640/8 | €1,576 | €1,587 | +€12 | +0.7% |
| Gross operating margin | 9900 | €48,760 | €87,863 | +€39,103 | +80.2% |
| Operating profit (loss) | 9901 | €46,605 | €85,926 | +€39,321 | +84.4% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €84 | €89 | +€5 | +5.5% |
| Recurring financial charges | 65 | €84 | €89 | +€5 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €46,522 | €85,837 | +€39,315 | +84.5% |
| Income taxes | 67/77 | €14,532 | €25,998 | +€11,466 | +78.9% |
| Profit (loss) for the period | 9904 | €31,990 | €59,840 | +€27,849 | +87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,990 | €59,840 | +€27,849 | +87.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.