CARO VETO: 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 VETO
Largest movements
- Tangible fixed assets +€26,502
up €26,502 (+43.4%), from €61,096 to €87,598
of which Furniture and vehicles: +€29,462
- Cash -€9,810
down €9,810 (-13.2%), from €74,233 to €64,423
mainly Investment in fixed assets (net) (-€30,655) and Other debts (-€15,689)
- Profit (loss) carried forward +€21,334
up €21,334 (+30.2%), from €70,580 to €91,914
- Other debts -€15,689
down €15,689 (-96.4%), from €16,274 to €585
- Debts after one year +€10,753
up €10,753 (+41.1%), from €26,162 to €36,916
- Tax, wage and social debts -€5,243
down €5,243 (-74.1%), from €7,073 to €1,829
- Current portion of long-term debt +€4,926
up €4,926 (+157%), from €3,144 to €8,070
- Gross operating margin +€6,473
up €6,473 (+22.9%), from €28,310 to €34,784
- Depreciation +€1,193
up €1,193 (+40.3%), from €2,960 to €4,153
- Other operating charges +€1,095
up €1,095 (+109%), from €1,008 to €2,103
- Taxes +€540
up €540 (+10.4%), from €5,207 to €5,746
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 | €140,630 | €156,421 | +€15,791 | +11.2% |
| Fixed assets | 21/28 | €61,096 | €87,598 | +€26,502 | +43.4% |
| Tangible fixed assets | 22/27 | €61,096 | €87,598 | +€26,502 | +43.4% |
| Land and buildings | 22 | €58,515 | €56,746 | -€1,769 | -3.0% |
| Furniture and vehicles | 24 | - | €29,462 | +€29,462 | |
| Other tangible fixed assets | 26 | €2,581 | €1,390 | -€1,191 | -46.1% |
| Current assets | 29/58 | €79,533 | €68,823 | -€10,711 | -13.5% |
| Amounts receivable within one year | 40/41 | €5,301 | €3,930 | -€1,371 | -25.9% |
| Trade receivables | 40 | €2,350 | €2,350 | = | 0.0% |
| Other amounts receivable | 41 | €2,951 | €1,580 | -€1,371 | -46.5% |
| Cash at bank and in hand | 54/58 | €74,233 | €64,423 | -€9,810 | -13.2% |
| Deferred charges and accrued income | 490/1 | - | €470 | +€470 | |
| Total equity and liabilities | 10/49 | €140,630 | €156,421 | +€15,791 | +11.2% |
| Equity | 10/15 | €78,640 | €99,974 | +€21,334 | +27.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Contributions outside capital | 11 | €8,060 | €8,060 | = | 0.0% |
| Other | 1109/19 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,580 | €91,914 | +€21,334 | +30.2% |
| Amounts payable | 17/49 | €61,990 | €56,447 | -€5,543 | -8.9% |
| Amounts payable after more than one year | 17 | €26,162 | €36,916 | +€10,753 | +41.1% |
| Financial debts | 170/4 | €26,162 | €36,916 | +€10,753 | +41.1% |
| Amounts payable within one year | 42/48 | €35,828 | €19,531 | -€16,296 | -45.5% |
| Current portion of amounts payable after more than one year | 42 | €3,144 | €8,070 | +€4,926 | +157% |
| Trade debts | 44 | €9,337 | €9,047 | -€290 | -3.1% |
| Suppliers | 440/4 | €9,337 | €9,047 | -€290 | -3.1% |
| Taxes, remuneration and social security | 45 | €7,073 | €1,829 | -€5,243 | -74.1% |
| Taxes | 450/3 | €7,073 | €1,829 | -€5,243 | -74.1% |
| Other amounts payable | 47/48 | €16,274 | €585 | -€15,689 | -96.4% |
| Non-recurring operating income | 76A | - | €5,162 | +€5,162 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,960 | €4,153 | +€1,193 | +40.3% |
| Other operating charges | 640/8 | €1,008 | €2,103 | +€1,095 | +109% |
| Gross operating margin | 9900 | €28,310 | €34,784 | +€6,473 | +22.9% |
| Operating profit (loss) | 9901 | €24,342 | €28,528 | +€4,186 | +17.2% |
| Financial income | 75/76B | €218 | €246 | +€27 | +12.5% |
| Recurring financial income | 75 | €218 | €246 | +€27 | +12.5% |
| Financial charges | 65/66B | €1,533 | €1,693 | +€160 | +10.4% |
| Recurring financial charges | 65 | €1,533 | €1,693 | +€160 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €23,028 | €27,081 | +€4,053 | +17.6% |
| Income taxes | 67/77 | €5,207 | €5,746 | +€540 | +10.4% |
| Profit (loss) for the period | 9904 | €17,821 | €21,334 | +€3,514 | +19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,821 | €21,334 | +€3,514 | +19.7% |
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 25 October 2026 via checked.be.