CAROLINE: 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.
CAROLINE
Largest movements
- Cash +€117,647
up €117,647 (+64.1%), from €183,598 to €301,245
mainly Other debts (+€138,557) and Net result for the year (+€136,785)
- Tangible fixed assets -€20,911
down €20,911 (-3.5%), from €604,736 to €583,825
of which Land and buildings: -€13,850
- Other debts +€138,557
new in 2025: €138,557
- Debts after one year -€36,681
down €36,681 (-39.5%), from €92,815 to €56,133
- Gross operating margin +€130,212
up €130,212 (+39.3%), from €331,341 to €461,553
- Taxes +€30,678
up €30,678 (+193.8%), from €15,826 to €46,504
- Staff costs +€6,798
up €6,798 (+2.8%), from €239,215 to €246,013
- Financial income +€5,443
up €5,443 (+222.7%), from €2,444 to €7,887
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 | €864,155 | €967,295 | +€103,140 | +11.9% |
| Fixed assets | 21/28 | €621,923 | €606,067 | -€15,855 | -2.5% |
| Intangible fixed assets | 21 | €2,441 | €1,441 | -€1,000 | -41.0% |
| Tangible fixed assets | 22/27 | €604,736 | €583,825 | -€20,911 | -3.5% |
| Land and buildings | 22 | €593,188 | €579,339 | -€13,850 | -2.3% |
| Plant, machinery and equipment | 23 | €7,163 | €1,472 | -€5,690 | -79.4% |
| Furniture and vehicles | 24 | €4,385 | €3,014 | -€1,372 | -31.3% |
| Financial fixed assets | 28 | €14,745 | €20,801 | +€6,056 | +41.1% |
| Current assets | 29/58 | €242,232 | €361,227 | +€118,995 | +49.1% |
| Amounts receivable within one year | 40/41 | €48,466 | €49,241 | +€775 | +1.6% |
| Trade receivables | 40 | €1,100 | - | -€1,100 | |
| Other amounts receivable | 41 | €47,366 | €49,241 | +€1,875 | +4.0% |
| Cash at bank and in hand | 54/58 | €183,598 | €301,245 | +€117,647 | +64.1% |
| Deferred charges and accrued income | 490/1 | €10,168 | €10,742 | +€574 | +5.6% |
| Total equity and liabilities | 10/49 | €864,155 | €967,295 | +€103,140 | +11.9% |
| Equity | 10/15 | €682,029 | €682,029 | = | 0.0% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €607,661 | €607,661 | = | 0.0% |
| Distributable reserves | 133 | €607,661 | €607,661 | = | 0.0% |
| Amounts payable | 17/49 | €182,126 | €285,266 | +€103,140 | +56.6% |
| Amounts payable after more than one year | 17 | €92,815 | €56,133 | -€36,681 | -39.5% |
| Financial debts | 170/4 | €92,815 | €56,133 | -€36,681 | -39.5% |
| Amounts payable within one year | 42/48 | €88,810 | €228,945 | +€140,135 | +157.8% |
| Current portion of amounts payable after more than one year | 42 | €39,082 | €39,711 | +€630 | +1.6% |
| Trade debts | 44 | €33,117 | €28,276 | -€4,841 | -14.6% |
| Suppliers | 440/4 | €33,117 | €28,276 | -€4,841 | -14.6% |
| Taxes, remuneration and social security | 45 | €16,612 | €22,401 | +€5,789 | +34.9% |
| Taxes | 450/3 | €9,034 | €10,570 | +€1,537 | +17.0% |
| Remuneration and social security | 454/9 | €7,578 | €11,831 | +€4,253 | +56.1% |
| Other amounts payable | 47/48 | - | €138,557 | +€138,557 | |
| Accrued charges and deferred income | 492/3 | €502 | €187 | -€314 | -62.6% |
| Remuneration, social security and pensions | 62 | €239,215 | €246,013 | +€6,798 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,503 | €21,911 | -€2,592 | -10.6% |
| Other operating charges | 640/8 | €4,204 | €5,026 | +€822 | +19.5% |
| Non-recurring operating charges | 66A | - | €9,742 | +€9,742 | |
| Gross operating margin | 9900 | €331,341 | €461,553 | +€130,212 | +39.3% |
| Operating profit (loss) | 9901 | €63,419 | €178,862 | +€115,442 | +182.0% |
| Financial income | 75/76B | €2,444 | €7,887 | +€5,443 | +222.7% |
| Recurring financial income | 75 | €2,444 | €7,887 | +€5,443 | +222.7% |
| Financial charges | 65/66B | €3,726 | €3,460 | -€266 | -7.1% |
| Recurring financial charges | 65 | €3,726 | €3,460 | -€266 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €62,137 | €183,288 | +€121,151 | +195.0% |
| Income taxes | 67/77 | €15,826 | €46,504 | +€30,678 | +193.8% |
| Profit (loss) for the period | 9904 | €46,311 | €136,785 | +€90,473 | +195.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,311 | €136,785 | +€90,473 | +195.4% |
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 10 October 2026 via checked.be.