CARON: 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.
CARON
Largest movements
- Receivables within one year -€135,819
down €135,819 (-14.2%), from €959,183 to €823,364
of which Trade receivables: -€106,171
- Stocks and contracts +€87,100
up €87,100 (+7.8%), from €1.1m to €1.2m
- Cash +€37,745
up €37,745 (+156%), from €24,241 to €61,986
mainly Receivables within one year (+€135,819) and Debts after one year (+€119,785)
- Other debts -€170,632
down €170,632 (-97.2%), from €175,632 to €5,000
- Debts after one year +€119,785
up €119,785 (+44.2%), from €271,185 to €390,970
- Trade debts +€39,895
up €39,895 (+6.2%), from €647,097 to €686,992
- Tax, wage and social debts -€38,100
down €38,100 (-21.8%), from €175,051 to €136,950
of which Remuneration and social security: -€66,305
- Gross operating margin -€47,211
down €47,211 (-5.3%), from €891,427 to €844,217
- Staff costs -€26,243
down €26,243 (-3.5%), from €741,162 to €714,919
- Other operating charges +€23,590
up €23,590 (+83.0%), from €28,411 to €52,001
- Financial income -€11,242
down €11,242 (-33.3%), from €33,778 to €22,536
- Taxes -€10,918
down €10,918 (-46.5%), from €23,472 to €12,554
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 | €2,533,251 | €2,483,698 | -€49,553 | -2.0% |
| Fixed assets | 21/28 | €389,795 | €375,118 | -€14,677 | -3.8% |
| Tangible fixed assets | 22/27 | €201,194 | €186,517 | -€14,677 | -7.3% |
| Land and buildings | 22 | €83,135 | €77,769 | -€5,366 | -6.5% |
| Plant, machinery and equipment | 23 | €70,937 | €65,910 | -€5,027 | -7.1% |
| Furniture and vehicles | 24 | €17,738 | €22,691 | +€4,953 | +27.9% |
| Leasing and similar rights | 25 | €29,384 | €20,147 | -€9,236 | -31.4% |
| Financial fixed assets | 28 | €188,601 | €188,601 | = | 0.0% |
| Current assets | 29/58 | €2,143,456 | €2,108,580 | -€34,876 | -1.6% |
| Stocks and contracts in progress | 3 | €1,113,750 | €1,200,850 | +€87,100 | +7.8% |
| Stocks | 30/36 | €1,113,750 | €1,200,850 | +€87,100 | +7.8% |
| Amounts receivable within one year | 40/41 | €959,183 | €823,364 | -€135,819 | -14.2% |
| Trade receivables | 40 | €826,220 | €720,048 | -€106,171 | -12.9% |
| Other amounts receivable | 41 | €132,963 | €103,315 | -€29,648 | -22.3% |
| Current investments | 50/53 | €32,643 | €7,601 | -€25,043 | -76.7% |
| Cash at bank and in hand | 54/58 | €24,241 | €61,986 | +€37,745 | +156% |
| Deferred charges and accrued income | 490/1 | €13,639 | €14,780 | +€1,141 | +8.4% |
| Total equity and liabilities | 10/49 | €2,533,251 | €2,483,698 | -€49,553 | -2.0% |
| Equity | 10/15 | €1,149,818 | €1,154,847 | +€5,029 | +0.4% |
| Contributions | 10/11 | €191,000 | €191,000 | = | 0.0% |
| Capital | 10 | €191,000 | €191,000 | = | 0.0% |
| Issued capital | 100 | €191,000 | €191,000 | = | 0.0% |
| Reserves | 13 | €539,100 | €539,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,100 | €19,100 | = | 0.0% |
| Legal reserve | 130 | €19,100 | €19,100 | = | 0.0% |
| Distributable reserves | 133 | €520,000 | €520,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €419,718 | €424,747 | +€5,029 | +1.2% |
| Amounts payable | 17/49 | €1,383,432 | €1,328,850 | -€54,582 | -3.9% |
| Amounts payable after more than one year | 17 | €271,185 | €390,970 | +€119,785 | +44.2% |
| Financial debts | 170/4 | €271,185 | €390,970 | +€119,785 | +44.2% |
| Amounts payable within one year | 42/48 | €1,103,315 | €935,181 | -€168,135 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €31,946 | €49,406 | +€17,459 | +54.7% |
| Financial debts | 43 | €73,590 | €56,832 | -€16,758 | -22.8% |
| Credit institutions | 430/8 | €73,590 | €56,832 | -€16,758 | -22.8% |
| Trade debts | 44 | €647,097 | €686,992 | +€39,895 | +6.2% |
| Suppliers | 440/4 | €647,097 | €686,992 | +€39,895 | +6.2% |
| Taxes, remuneration and social security | 45 | €175,051 | €136,950 | -€38,100 | -21.8% |
| Taxes | 450/3 | €27,193 | €55,398 | +€28,205 | +104% |
| Remuneration and social security | 454/9 | €147,858 | €81,552 | -€66,305 | -44.8% |
| Other amounts payable | 47/48 | €175,632 | €5,000 | -€170,632 | -97.2% |
| Accrued charges and deferred income | 492/3 | €8,933 | €2,700 | -€6,233 | -69.8% |
| Non-recurring operating income | 76A | - | €8,066 | +€8,066 | |
| Remuneration, social security and pensions | 62 | €741,162 | €714,919 | -€26,243 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,699 | €30,672 | +€973 | +3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,184 | +€5,184 | |
| Other operating charges | 640/8 | €28,411 | €52,001 | +€23,590 | +83.0% |
| Gross operating margin | 9900 | €891,427 | €844,217 | -€47,211 | -5.3% |
| Operating profit (loss) | 9901 | €92,154 | €41,441 | -€50,713 | -55.0% |
| Financial income | 75/76B | €33,778 | €22,536 | -€11,242 | -33.3% |
| Recurring financial income | 75 | €33,778 | €22,536 | -€11,242 | -33.3% |
| Financial charges | 65/66B | €48,351 | €46,394 | -€1,957 | -4.0% |
| Recurring financial charges | 65 | €48,351 | €46,394 | -€1,957 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €77,581 | €17,583 | -€59,998 | -77.3% |
| Income taxes | 67/77 | €23,472 | €12,554 | -€10,918 | -46.5% |
| Profit (loss) for the period | 9904 | €54,109 | €5,029 | -€49,080 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,109 | €5,029 | -€49,080 | -90.7% |
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 20 October 2026 via checked.be.