CARO CONSTRUCT: 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 CONSTRUCT
Largest movements
- Stocks and contracts -€20.4m
down €20.4m (-98.6%), from €20.7m to €297,771
- Receivables within one year +€496,491
up €496,491 (+33.0%), from €1.5m to €2.0m
of which Trade receivables: +€797,125
- Advances received -€19.5m
down €19.5m (-88.2%), from €22.1m to €2.6m
- Debts after one year -€871,877
down €871,877 (-100.0%), from €871,877 to €0
of which Financial debts: -€871,877
- Other debts +€653,453
up €653,453 (+78.9%), from €828,046 to €1.5m
- Trade debts -€423,800
down €423,800 (-52.5%), from €807,318 to €383,517
- Reserves +€331,390
up €331,390 (+17816.6%), from €1,860 to €333,250
of which Distributable reserves: +€331,390
- Gross operating margin +€2.0m
up €2.0m (+1260.2%), from €159,766 to €2.2m
- Taxes +€461,649
up €461,649 (+1064.9%), from €43,351 to €505,001
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 | €24,986,979 | €5,188,851 | -€19.8m | -79.2% |
| Fixed assets | 21/28 | €12,019 | €8,949 | -€3,070 | -25.5% |
| Tangible fixed assets | 22/27 | €12,019 | €8,949 | -€3,070 | -25.5% |
| Plant, machinery and equipment | 23 | €12,019 | €8,949 | -€3,070 | -25.5% |
| Current assets | 29/58 | €24,974,960 | €5,179,902 | -€19.8m | -79.3% |
| Stocks and contracts in progress | 3 | €20,725,569 | €297,771 | -€20.4m | -98.6% |
| Contracts in progress | 37 | €20,725,569 | €297,771 | -€20.4m | -98.6% |
| Amounts receivable within one year | 40/41 | €1,503,775 | €2,000,266 | +€496,491 | +33.0% |
| Trade receivables | 40 | €1,176,452 | €1,973,577 | +€797,125 | +67.8% |
| Other amounts receivable | 41 | €327,323 | €26,689 | -€300,634 | -91.8% |
| Cash at bank and in hand | 54/58 | €2,743,384 | €2,879,618 | +€136,235 | +5.0% |
| Deferred charges and accrued income | 490/1 | €2,232 | €2,246 | +€14 | +0.6% |
| Total equity and liabilities | 10/49 | €24,986,979 | €5,188,851 | -€19.8m | -79.2% |
| Equity | 10/15 | €139,471 | €351,850 | +€212,379 | +152.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €333,250 | +€331,390 | +17816.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €333,250 | +€331,390 | +17816.6% |
| Profit (loss) carried forward | 14 | €119,011 | €0 | -€119,011 | -100.0% |
| Amounts payable | 17/49 | €24,847,508 | €4,837,002 | -€20.0m | -80.5% |
| Amounts payable after more than one year | 17 | €871,877 | €0 | -€871,877 | -100.0% |
| Financial debts | 170/4 | €871,877 | €0 | -€871,877 | -100.0% |
| Advances received on contracts in progress | 176 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €23,950,736 | €4,809,604 | -€19.1m | -79.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | €218,500 | +€218,500 | |
| Trade debts | 44 | €807,318 | €383,517 | -€423,800 | -52.5% |
| Suppliers | 440/4 | €807,318 | €383,517 | -€423,800 | -52.5% |
| Advances received on contracts in progress | 46 | €22,059,220 | €2,594,802 | -€19.5m | -88.2% |
| Taxes, remuneration and social security | 45 | €256,153 | €131,287 | -€124,866 | -48.7% |
| Taxes | 450/3 | €256,153 | €131,287 | -€124,866 | -48.7% |
| Other amounts payable | 47/48 | €828,046 | €1,481,499 | +€653,453 | +78.9% |
| Accrued charges and deferred income | 492/3 | €24,894 | €27,397 | +€2,503 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,070 | €3,070 | = | 0.0% |
| Other operating charges | 640/8 | €1,473 | €1,094 | -€380 | -25.8% |
| Gross operating margin | 9900 | €159,766 | €2,173,128 | +€2.0m | +1260.2% |
| Operating profit (loss) | 9901 | €155,222 | €2,168,965 | +€2.0m | +1297.3% |
| Financial income | 75/76B | €7,386 | €8,938 | +€1,553 | +21.0% |
| Recurring financial income | 75 | €7,386 | €8,938 | +€1,553 | +21.0% |
| Financial charges | 65/66B | €3,013 | €10,524 | +€7,511 | +249.3% |
| Recurring financial charges | 65 | €3,013 | €10,524 | +€7,511 | +249.3% |
| Profit (loss) for the period before taxes | 9903 | €159,595 | €2,167,379 | +€2.0m | +1258.0% |
| Income taxes | 67/77 | €43,351 | €505,001 | +€461,649 | +1064.9% |
| Profit (loss) for the period | 9904 | €116,244 | €1,662,379 | +€1.5m | +1330.1% |
| Profit (loss) for the period to be appropriated | 9905 | €116,244 | €1,662,379 | +€1.5m | +1330.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.