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 -€2,501
down €2,501 (-9.8%), from €25,601 to €23,100
mainly Tax, wage and social debts (-€12,682) and Debts after one year (-€3,366)
- Tangible fixed assets -€1,920
down €1,920 (-24.9%), from €7,712 to €5,793
of which Furniture and vehicles: -€1,085
- Tax, wage and social debts -€12,682
down €12,682 (-70.8%), from €17,902 to €5,220
- Profit (loss) carried forward +€7,012
up €7,012 (+18.7%), from €37,568 to €44,580
- Trade debts +€5,434
up €5,434 (+68.2%), from €7,972 to €13,406
- Debts after one year -€3,366
no longer reported in 2025 (was €3,366)
- Accrued charges and deferred income -€1,385
no longer reported in 2025 (was €1,385)
- Gross operating margin -€4,542
down €4,542 (-27.1%), from €16,736 to €12,194
- Taxes -€2,083
down €2,083 (-51.9%), from €4,012 to €1,928
- Depreciation +€789
up €789 (+69.8%), from €1,130 to €1,920
- Financial charges +€292
up €292 (+105%), from €278 to €570
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 | €92,982 | €87,995 | -€4,987 | -5.4% |
| Fixed assets | 21/28 | €7,712 | €5,793 | -€1,920 | -24.9% |
| Tangible fixed assets | 22/27 | €7,712 | €5,793 | -€1,920 | -24.9% |
| Plant, machinery and equipment | 23 | €2,570 | €1,735 | -€835 | -32.5% |
| Furniture and vehicles | 24 | €5,143 | €4,058 | -€1,085 | -21.1% |
| Current assets | 29/58 | €85,270 | €82,203 | -€3,068 | -3.6% |
| Stocks and contracts in progress | 3 | €927 | €411 | -€516 | -55.7% |
| Stocks | 30/36 | €927 | €411 | -€516 | -55.7% |
| Amounts receivable within one year | 40/41 | €58,668 | €58,616 | -€52 | -0.1% |
| Trade receivables | 40 | €7,955 | €6,591 | -€1,364 | -17.1% |
| Other amounts receivable | 41 | €50,713 | €52,025 | +€1,312 | +2.6% |
| Cash at bank and in hand | 54/58 | €25,601 | €23,100 | -€2,501 | -9.8% |
| Deferred charges and accrued income | 490/1 | €74 | €76 | +€2 | +2.3% |
| Total equity and liabilities | 10/49 | €92,982 | €87,995 | -€4,987 | -5.4% |
| Equity | 10/15 | €62,357 | €69,369 | +€7,012 | +11.2% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,568 | €44,580 | +€7,012 | +18.7% |
| Amounts payable | 17/49 | €30,626 | €18,626 | -€12,000 | -39.2% |
| Amounts payable after more than one year | 17 | €3,366 | - | -€3,366 | |
| Other amounts payable | 178/9 | €3,366 | - | -€3,366 | |
| Amounts payable within one year | 42/48 | €25,874 | €18,626 | -€7,248 | -28.0% |
| Trade debts | 44 | €7,972 | €13,406 | +€5,434 | +68.2% |
| Suppliers | 440/4 | €7,972 | €13,406 | +€5,434 | +68.2% |
| Taxes, remuneration and social security | 45 | €17,902 | €5,220 | -€12,682 | -70.8% |
| Taxes | 450/3 | €17,902 | €5,220 | -€12,682 | -70.8% |
| Accrued charges and deferred income | 492/3 | €1,385 | - | -€1,385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,130 | €1,920 | +€789 | +69.8% |
| Other operating charges | 640/8 | €778 | €835 | +€57 | +7.3% |
| Gross operating margin | 9900 | €16,736 | €12,194 | -€4,542 | -27.1% |
| Operating profit (loss) | 9901 | €14,827 | €9,439 | -€5,389 | -36.3% |
| Financial income | 75/76B | €228 | €71 | -€156 | -68.6% |
| Recurring financial income | 75 | €228 | €71 | -€156 | -68.6% |
| Financial charges | 65/66B | €278 | €570 | +€292 | +105% |
| Recurring financial charges | 65 | €278 | €570 | +€292 | +105% |
| Profit (loss) for the period before taxes | 9903 | €14,777 | €8,941 | -€5,836 | -39.5% |
| Income taxes | 67/77 | €4,012 | €1,928 | -€2,083 | -51.9% |
| Profit (loss) for the period | 9904 | €10,765 | €7,012 | -€3,753 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,765 | €7,012 | -€3,753 | -34.9% |
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.