CARODEL: 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.
CARODEL
Largest movements
- Tangible fixed assets -€63,471
down €63,471 (-3.5%), from €1.8m to €1.8m
of which Land and buildings: -€62,398
- Cash -€31,172
down €31,172 (-26.5%), from €117,603 to €86,430
mainly Contributions, distributions and other (-€271,350) and Debts after one year (-€178,498)
- Debts after one year -€178,498
down €178,498 (-11.7%), from €1.5m to €1.3m
of which Financial debts: -€90,558
- Other debts +€81,633
up €81,633 (+36.0%), from €226,539 to €308,173
- Gross operating margin -€5,723
down €5,723 (-1.3%), from €432,408 to €426,685
- Financial charges -€4,829
down €4,829 (-16.4%), from €29,507 to €24,678
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 | €1,987,782 | €1,888,115 | -€99,667 | -5.0% |
| Formation expenses | 20 | €30,920 | €25,733 | -€5,187 | -16.8% |
| Fixed assets | 21/28 | €1,836,678 | €1,773,207 | -€63,471 | -3.5% |
| Tangible fixed assets | 22/27 | €1,836,678 | €1,773,207 | -€63,471 | -3.5% |
| Land and buildings | 22 | €1,832,088 | €1,769,691 | -€62,398 | -3.4% |
| Plant, machinery and equipment | 23 | €3,472 | €2,802 | -€671 | -19.3% |
| Furniture and vehicles | 24 | €1,118 | €715 | -€403 | -36.0% |
| Current assets | 29/58 | €120,183 | €89,175 | -€31,008 | -25.8% |
| Amounts receivable within one year | 40/41 | €0 | €160 | +€160 | |
| Other amounts receivable | 41 | €0 | €160 | +€160 | |
| Cash at bank and in hand | 54/58 | €117,603 | €86,430 | -€31,172 | -26.5% |
| Deferred charges and accrued income | 490/1 | €2,581 | €2,585 | +€4 | +0.2% |
| Total equity and liabilities | 10/49 | €1,987,782 | €1,888,115 | -€99,667 | -5.0% |
| Equity | 10/15 | €68,862 | €73,566 | +€4,705 | +6.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €662 | €5,366 | +€4,705 | +711% |
| Amounts payable | 17/49 | €1,918,920 | €1,814,549 | -€104,371 | -5.4% |
| Amounts payable after more than one year | 17 | €1,520,058 | €1,341,559 | -€178,498 | -11.7% |
| Financial debts | 170/4 | €446,058 | €355,499 | -€90,558 | -20.3% |
| Other amounts payable | 178/9 | €1,074,000 | €986,060 | -€87,940 | -8.2% |
| Amounts payable within one year | 42/48 | €332,119 | €410,364 | +€78,245 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €89,673 | €90,558 | +€886 | +1.0% |
| Trade debts | 44 | €15,182 | €10,896 | -€4,286 | -28.2% |
| Suppliers | 440/4 | €15,182 | €10,896 | -€4,286 | -28.2% |
| Taxes, remuneration and social security | 45 | €725 | €737 | +€12 | +1.6% |
| Taxes | 450/3 | €725 | €737 | +€12 | +1.6% |
| Other amounts payable | 47/48 | €226,539 | €308,173 | +€81,633 | +36.0% |
| Accrued charges and deferred income | 492/3 | €66,743 | €62,625 | -€4,118 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,794 | €68,659 | +€864 | +1.3% |
| Other operating charges | 640/8 | €54,525 | €56,561 | +€2,036 | +3.7% |
| Gross operating margin | 9900 | €432,408 | €426,685 | -€5,723 | -1.3% |
| Operating profit (loss) | 9901 | €310,089 | €301,465 | -€8,624 | -2.8% |
| Financial income | 75/76B | €160 | €5 | -€155 | -96.9% |
| Recurring financial income | 75 | €160 | €5 | -€155 | -96.9% |
| Financial charges | 65/66B | €29,507 | €24,678 | -€4,829 | -16.4% |
| Recurring financial charges | 65 | €29,507 | €24,678 | -€4,829 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €280,741 | €276,792 | -€3,949 | -1.4% |
| Income taxes | 67/77 | €725 | €737 | +€12 | +1.6% |
| Profit (loss) for the period | 9904 | €280,016 | €276,055 | -€3,961 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €280,016 | €276,055 | -€3,961 | -1.4% |
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.