Carolex: what changed
Two fiscal 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.
Carolex
Largest movements
- Cash +€254,052
up €254,052 (+157.4%), from €161,361 to €415,413
mainly Net result for the year (+€326,896) and Tax, wage and social debts (+€118,180)
- Receivables within one year +€61,478
up €61,478 (+52.4%), from €117,293 to €178,771
of which Trade receivables: +€72,235
- Deferred charges and accrued income +€37,120
new in 2025: €37,120
- Tangible fixed assets -€28,097
down €28,097 (-8.7%), from €321,636 to €293,540
of which Land and buildings: -€20,372
- Reserves +€234,133
up €234,133 (+31.3%), from €748,833 to €982,966
- Tax, wage and social debts +€118,180
up €118,180 (+482.1%), from €24,514 to €142,694
- Debts after one year -€22,329
down €22,329 (-12.1%), from €184,388 to €162,058
- Gross operating margin +€318,675
up €318,675 (+168.0%), from €189,632 to €508,307
- Taxes +€104,116
up €104,116 (+210.3%), from €49,511 to €153,626
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 | €994,720 | €1,319,273 | +€324,553 | +32.6% |
| Fixed assets | 21/28 | €321,636 | €293,540 | -€28,097 | -8.7% |
| Tangible fixed assets | 22/27 | €321,636 | €293,540 | -€28,097 | -8.7% |
| Land and buildings | 22 | €309,559 | €289,187 | -€20,372 | -6.6% |
| Furniture and vehicles | 24 | €12,078 | €4,353 | -€7,725 | -64.0% |
| Current assets | 29/58 | €673,084 | €1,025,734 | +€352,650 | +52.4% |
| Amounts receivable after more than one year | 29 | €150,500 | €150,500 | = | 0.0% |
| Other amounts receivable | 291 | €150,500 | €150,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €117,293 | €178,771 | +€61,478 | +52.4% |
| Trade receivables | 40 | €32,824 | €105,058 | +€72,235 | +220.1% |
| Other amounts receivable | 41 | €84,469 | €73,712 | -€10,757 | -12.7% |
| Current investments | 50/53 | €243,929 | €243,929 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €161,361 | €415,413 | +€254,052 | +157.4% |
| Deferred charges and accrued income | 490/1 | - | €37,120 | +€37,120 | |
| Total equity and liabilities | 10/49 | €994,720 | €1,319,273 | +€324,553 | +32.6% |
| Equity | 10/15 | €755,033 | €989,166 | +€234,133 | +31.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €748,833 | €982,966 | +€234,133 | +31.3% |
| Distributable reserves | 133 | €748,833 | €982,966 | +€234,133 | +31.3% |
| Amounts payable | 17/49 | €239,687 | €330,107 | +€90,420 | +37.7% |
| Amounts payable after more than one year | 17 | €184,388 | €162,058 | -€22,329 | -12.1% |
| Financial debts | 170/4 | €184,388 | €162,058 | -€22,329 | -12.1% |
| Amounts payable within one year | 42/48 | €55,299 | €168,049 | +€112,749 | +203.9% |
| Current portion of amounts payable after more than one year | 42 | €22,171 | €22,329 | +€158 | +0.7% |
| Trade debts | 44 | €8,614 | €3,025 | -€5,589 | -64.9% |
| Suppliers | 440/4 | €8,614 | €3,025 | -€5,589 | -64.9% |
| Taxes, remuneration and social security | 45 | €24,514 | €142,694 | +€118,180 | +482.1% |
| Taxes | 450/3 | €24,514 | €142,694 | +€118,180 | +482.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,487 | €28,097 | +€3,610 | +14.7% |
| Other operating charges | 640/8 | €2,198 | €2,554 | +€355 | +16.2% |
| Gross operating margin | 9900 | €189,632 | €508,307 | +€318,675 | +168.0% |
| Operating profit (loss) | 9901 | €162,947 | €477,657 | +€314,710 | +193.1% |
| Financial income | 75/76B | €9,141 | €8,939 | -€202 | -2.2% |
| Recurring financial income | 75 | €9,141 | €8,939 | -€202 | -2.2% |
| Financial charges | 65/66B | €6,642 | €6,073 | -€569 | -8.6% |
| Recurring financial charges | 65 | €6,642 | €6,073 | -€569 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €165,446 | €480,523 | +€315,077 | +190.4% |
| Income taxes | 67/77 | €49,511 | €153,626 | +€104,116 | +210.3% |
| Profit (loss) for the period | 9904 | €115,935 | €326,896 | +€210,961 | +182.0% |
| Profit (loss) for the period to be appropriated | 9905 | €115,935 | €326,896 | +€210,961 | +182.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.