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
- Tangible fixed assets +€132,434
up €132,434 (+35.6%), from €372,254 to €504,688
of which Land and buildings: +€127,518
- Receivables within one year -€48,136
down €48,136 (-69.7%), from €69,027 to €20,891
of which Trade receivables: -€38,400
- Debts after one year +€119,368
up €119,368 (+41.5%), from €287,381 to €406,749
- Other debts -€18,614
down €18,614 (-51.0%), from €36,500 to €17,886
- Reserves -€15,000
down €15,000 (-8.7%), from €172,443 to €157,443
- Gross operating margin -€33,887
down €33,887 (-35.1%), from €96,539 to €62,652
- Other operating charges +€29,038
up €29,038 (+2,223%), from €1,306 to €30,345
- Taxes -€13,866
down €13,866 (-91.5%), from €15,160 to €1,294
- Depreciation +€5,423
up €5,423 (+34.4%), from €15,753 to €21,176
- Financial charges +€2,832
up €2,832 (+22.1%), from €12,808 to €15,640
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 | €535,333 | €615,225 | +€79,892 | +14.9% |
| Fixed assets | 21/28 | €390,004 | €522,438 | +€132,434 | +34.0% |
| Tangible fixed assets | 22/27 | €372,254 | €504,688 | +€132,434 | +35.6% |
| Land and buildings | 22 | €369,996 | €497,515 | +€127,518 | +34.5% |
| Furniture and vehicles | 24 | €2,258 | €4,270 | +€2,012 | +89.1% |
| Other tangible fixed assets | 26 | - | €2,904 | +€2,904 | |
| Financial fixed assets | 28 | €17,750 | €17,750 | = | 0.0% |
| Current assets | 29/58 | €145,329 | €92,787 | -€52,542 | -36.2% |
| Amounts receivable within one year | 40/41 | €69,027 | €20,891 | -€48,136 | -69.7% |
| Trade receivables | 40 | €40,671 | €2,271 | -€38,400 | -94.4% |
| Other amounts receivable | 41 | €28,357 | €18,620 | -€9,736 | -34.3% |
| Cash at bank and in hand | 54/58 | €76,302 | €71,896 | -€4,406 | -5.8% |
| Total equity and liabilities | 10/49 | €535,333 | €615,225 | +€79,892 | +14.9% |
| Equity | 10/15 | €174,943 | €157,170 | -€17,772 | -10.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €172,443 | €157,443 | -€15,000 | -8.7% |
| Distributable reserves | 133 | €172,443 | €157,443 | -€15,000 | -8.7% |
| Profit (loss) carried forward | 14 | €0 | -€2,772 | -€2,772 | |
| Amounts payable | 17/49 | €360,390 | €458,055 | +€97,664 | +27.1% |
| Amounts payable after more than one year | 17 | €287,381 | €406,749 | +€119,368 | +41.5% |
| Financial debts | 170/4 | €287,381 | €406,749 | +€119,368 | +41.5% |
| Amounts payable within one year | 42/48 | €70,214 | €49,623 | -€20,591 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €12,755 | €18,709 | +€5,955 | +46.7% |
| Trade debts | 44 | €3,593 | €0 | -€3,593 | -100% |
| Suppliers | 440/4 | €3,593 | €0 | -€3,593 | -100% |
| Taxes, remuneration and social security | 45 | €17,367 | €13,028 | -€4,338 | -25.0% |
| Taxes | 450/3 | €17,367 | €13,028 | -€4,338 | -25.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €36,500 | €17,886 | -€18,614 | -51.0% |
| Accrued charges and deferred income | 492/3 | €2,795 | €1,683 | -€1,113 | -39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,753 | €21,176 | +€5,423 | +34.4% |
| Other operating charges | 640/8 | €1,306 | €30,345 | +€29,038 | +2,223% |
| Gross operating margin | 9900 | €96,539 | €62,652 | -€33,887 | -35.1% |
| Operating profit (loss) | 9901 | €79,480 | €11,131 | -€68,349 | -86.0% |
| Financial income | 75/76B | €509 | €3,031 | +€2,522 | +495% |
| Recurring financial income | 75 | €509 | €3,031 | +€2,522 | +495% |
| Financial charges | 65/66B | €12,808 | €15,640 | +€2,832 | +22.1% |
| Recurring financial charges | 65 | €12,808 | €15,640 | +€2,832 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €67,182 | -€1,478 | -€68,660 | |
| Income taxes | 67/77 | €15,160 | €1,294 | -€13,866 | -91.5% |
| Profit (loss) for the period | 9904 | €52,021 | -€2,772 | -€54,794 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,021 | -€2,772 | -€54,794 |
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 18 October 2026 via checked.be.