CARO EVENT: 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.
What changed
CARO EVENT
NACE 55.203, Holiday cottages, homes and apartments
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,535
2024 · €11,981-€13,516
Equity
-€648,931
2024 · -€646,328-€2,602
Cash
€8,384
2024 · €18,583-€10,199
Balance sheet total
€3.7m
2024 · €3.9m-€135,746
Largest movements
Assets
- Tangible fixed assets -€102,062
down €102,062 (-2.8%), from €3.6m to €3.5m
of which Land and buildings: -€104,843
Equity and liabilities
- Debts after one year -€150,955
down €150,955 (-5.1%), from €3.0m to €2.8m
Income statement
- Gross operating margin -€14,324
down €14,324 (-4.7%), from €304,805 to €290,481
- Financial charges -€12,240
down €12,240 (-10.8%), from €113,229 to €100,989
- Depreciation +€9,080
up €9,080 (+5.4%), from €169,246 to €178,327
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.
Result 2024
€11,981
Gross operating margin
-€14,324
Depreciation
-€9,080
Other operating charges
-€2,352
Financial income
+€0
Financial charges
+€12,240
Result 2025
-€1,535
raises the resultlowers the result
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.
From operations
+€178,539
Investment
-€41,943
Financing
-€146,795
Cash 2024
€18,583
From operations (derived)
+€178,539
Net result for the year
-€1,535
Depreciation
+€178,327
Receivables within one year
-€10,590
Deferred charges and accrued income
-€245
Trade debts
+€12,351
Tax, wage and social debts
-€1,921
Advances received
-€1,500
Other debts
+€9,256
Accrued charges and deferred income
-€5,603
Investment (derived)
-€41,943
Investment in fixed assets (net)
-€41,943
Financing
-€146,795
Debts after one year
-€150,955
Current portion of long-term debt
+€4,323
Short-term financial debts
+€904
Contributions, distributions and other
-€1,067
Cash 2025
€8,384
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,860,083 | €3,724,337 | -€135,746 | -3.5% |
| Fixed assets | 21/28 | €3,820,728 | €3,684,345 | -€136,383 | -3.6% |
| Intangible fixed assets | 21 | €198,074 | €163,752 | -€34,322 | -17.3% |
| Tangible fixed assets | 22/27 | €3,622,655 | €3,520,593 | -€102,062 | -2.8% |
| Land and buildings | 22 | €3,588,343 | €3,483,500 | -€104,843 | -2.9% |
| Plant, machinery and equipment | 23 | €13,752 | €11,995 | -€1,757 | -12.8% |
| Furniture and vehicles | 24 | €20,559 | €25,098 | +€4,538 | +22.1% |
| Current assets | 29/58 | €39,355 | €39,992 | +€637 | +1.6% |
| Amounts receivable within one year | 40/41 | €17,243 | €27,833 | +€10,590 | +61.4% |
| Trade receivables | 40 | €17,243 | €27,833 | +€10,590 | +61.4% |
| Cash at bank and in hand | 54/58 | €18,583 | €8,384 | -€10,199 | -54.9% |
| Deferred charges and accrued income | 490/1 | €3,529 | €3,775 | +€245 | +7.0% |
| Total equity and liabilities | 10/49 | €3,860,083 | €3,724,337 | -€135,746 | -3.5% |
| Equity | 10/15 | -€646,328 | -€648,931 | -€2,602 | -0.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€656,798 | -€658,333 | -€1,535 | -0.2% |
| Investment grants | 15 | €4,270 | €3,202 | -€1,067 | -25.0% |
| Amounts payable | 17/49 | €4,506,412 | €4,373,268 | -€133,144 | -3.0% |
| Amounts payable after more than one year | 17 | €2,958,439 | €2,807,484 | -€150,955 | -5.1% |
| Financial debts | 170/4 | €2,958,439 | €2,807,484 | -€150,955 | -5.1% |
| Amounts payable within one year | 42/48 | €1,494,840 | €1,518,253 | +€23,414 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €146,631 | €150,955 | +€4,323 | +2.9% |
| Financial debts | 43 | - | €904 | +€904 | |
| Credit institutions | 430/8 | - | €904 | +€904 | |
| Trade debts | 44 | €14,301 | €26,652 | +€12,351 | +86.4% |
| Suppliers | 440/4 | €14,301 | €26,652 | +€12,351 | +86.4% |
| Advances received on contracts in progress | 46 | €1,500 | - | -€1,500 | |
| Taxes, remuneration and social security | 45 | €3,388 | €1,466 | -€1,921 | -56.7% |
| Taxes | 450/3 | €3,388 | €1,466 | -€1,921 | -56.7% |
| Other amounts payable | 47/48 | €1,329,020 | €1,338,276 | +€9,256 | +0.7% |
| Accrued charges and deferred income | 492/3 | €53,133 | €47,530 | -€5,603 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,246 | €178,327 | +€9,080 | +5.4% |
| Other operating charges | 640/8 | €11,415 | €13,767 | +€2,352 | +20.6% |
| Gross operating margin | 9900 | €304,805 | €290,481 | -€14,324 | -4.7% |
| Operating profit (loss) | 9901 | €124,143 | €98,387 | -€25,756 | -20.7% |
| Financial income | 75/76B | €1,067 | €1,067 | +€0 | 0.0% |
| Recurring financial income | 75 | €1,067 | €1,067 | +€0 | 0.0% |
| Financial charges | 65/66B | €113,229 | €100,989 | -€12,240 | -10.8% |
| Recurring financial charges | 65 | €113,229 | €100,989 | -€12,240 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €11,981 | -€1,535 | -€13,516 | |
| Profit (loss) for the period | 9904 | €11,981 | -€1,535 | -€13,516 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,981 | -€1,535 | -€13,516 |
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 17 October 2026 via checked.be.