CARO: 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.
CARO
Largest movements
- Cash +€34,172
up €34,172 (+317%), from €10,772 to €44,944
mainly Net result for the year (+€58,530) and Receivables within one year (+€32,278)
- Receivables within one year -€32,278
down €32,278 (-84.8%), from €38,048 to €5,770
of which Other amounts receivable: -€37,314
- Current investments +€20,000
up €20,000 (+40.0%), from €50,000 to €70,000
- Tangible fixed assets -€6,724
down €6,724 (-13.8%), from €48,589 to €41,865
of which Land and buildings: -€6,551
- Stocks and contracts +€2,557
up €2,557 (+5.8%), from €43,713 to €46,270
- Other debts +€30,453
up €30,453 (+109%), from €28,000 to €58,453
- Trade debts -€9,059
down €9,059 (-80.2%), from €11,291 to €2,232
- Debts after one year -€5,177
down €5,177 (-27.2%), from €19,011 to €13,834
- Gross operating margin +€26,683
up €26,683 (+63.2%), from €42,236 to €68,919
- Financial income +€2,997
up €2,997 (+431%), from €695 to €3,691
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 | €195,662 | €212,338 | +€16,677 | +8.5% |
| Fixed assets | 21/28 | €50,514 | €42,714 | -€7,800 | -15.4% |
| Intangible fixed assets | 21 | €1,925 | €849 | -€1,076 | -55.9% |
| Tangible fixed assets | 22/27 | €48,589 | €41,865 | -€6,724 | -13.8% |
| Land and buildings | 22 | €47,103 | €40,552 | -€6,551 | -13.9% |
| Plant, machinery and equipment | 23 | €1,486 | €1,312 | -€174 | -11.7% |
| Current assets | 29/58 | €145,148 | €169,624 | +€24,477 | +16.9% |
| Stocks and contracts in progress | 3 | €43,713 | €46,270 | +€2,557 | +5.8% |
| Stocks | 30/36 | €43,713 | €46,270 | +€2,557 | +5.8% |
| Amounts receivable within one year | 40/41 | €38,048 | €5,770 | -€32,278 | -84.8% |
| Trade receivables | 40 | - | €5,036 | +€5,036 | |
| Other amounts receivable | 41 | €38,048 | €735 | -€37,314 | -98.1% |
| Current investments | 50/53 | €50,000 | €70,000 | +€20,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €10,772 | €44,944 | +€34,172 | +317% |
| Deferred charges and accrued income | 490/1 | €2,614 | €2,641 | +€27 | +1.0% |
| Total equity and liabilities | 10/49 | €195,662 | €212,338 | +€16,677 | +8.5% |
| Equity | 10/15 | €128,714 | €129,245 | +€530 | +0.4% |
| Contributions | 10/11 | €77,000 | €77,000 | = | 0.0% |
| Capital | 10 | €77,000 | €77,000 | = | 0.0% |
| Issued capital | 100 | €77,000 | €77,000 | = | 0.0% |
| Reserves | 13 | €51,714 | €52,245 | +€530 | +1.0% |
| Non-distributable reserves | 130/1 | €7,700 | €7,700 | = | 0.0% |
| Legal reserve | 130 | €7,700 | €7,700 | = | 0.0% |
| Distributable reserves | 133 | €44,014 | €44,545 | +€530 | +1.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €66,947 | €83,094 | +€16,146 | +24.1% |
| Amounts payable after more than one year | 17 | €19,011 | €13,834 | -€5,177 | -27.2% |
| Financial debts | 170/4 | €19,011 | €13,834 | -€5,177 | -27.2% |
| Amounts payable within one year | 42/48 | €47,483 | €69,259 | +€21,776 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €5,080 | €5,177 | +€97 | +1.9% |
| Trade debts | 44 | €11,291 | €2,232 | -€9,059 | -80.2% |
| Suppliers | 440/4 | €11,291 | €2,232 | -€9,059 | -80.2% |
| Taxes, remuneration and social security | 45 | €3,112 | €3,397 | +€285 | +9.2% |
| Taxes | 450/3 | €3,112 | €3,397 | +€285 | +9.2% |
| Other amounts payable | 47/48 | €28,000 | €58,453 | +€30,453 | +109% |
| Accrued charges and deferred income | 492/3 | €453 | €0 | -€453 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,800 | €7,800 | = | 0.0% |
| Other operating charges | 640/8 | €5,057 | €5,101 | +€45 | +0.9% |
| Gross operating margin | 9900 | €42,236 | €68,919 | +€26,683 | +63.2% |
| Operating profit (loss) | 9901 | €29,379 | €56,017 | +€26,638 | +90.7% |
| Financial income | 75/76B | €695 | €3,691 | +€2,997 | +431% |
| Recurring financial income | 75 | €695 | €3,691 | +€2,997 | +431% |
| Financial charges | 65/66B | €623 | €526 | -€97 | -15.6% |
| Recurring financial charges | 65 | €623 | €526 | -€97 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €29,450 | €59,183 | +€29,732 | +101% |
| Income taxes | 67/77 | €702 | €652 | -€49 | -7.0% |
| Profit (loss) for the period | 9904 | €28,749 | €58,530 | +€29,782 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €28,749 | €58,530 | +€29,782 | +104% |
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 16 October 2026 via checked.be.