CARON: 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.
CARON
Largest movements
- Tangible fixed assets +€151,095
up €151,095 (+604.1%), from €25,013 to €176,109
of which Other tangible fixed assets: +€138,178
- Cash -€59,829
down €59,829 (-22.7%), from €263,719 to €203,890
mainly Investment in fixed assets (net) (-€162,596) and Contributions, distributions and other (-€119,347)
- Receivables within one year +€56,113
up €56,113 (+136.3%), from €41,182 to €97,295
of which Trade receivables: +€44,078
- Other debts +€96,306
up €96,306 (+354.5%), from €27,167 to €123,473
- Trade debts +€71,561
up €71,561 (+337.2%), from €21,225 to €92,786
- Reserves -€45,791
down €45,791 (-14.8%), from €309,898 to €264,107
- Tax, wage and social debts +€26,074
up €26,074 (+370.3%), from €7,041 to €33,115
of which Taxes: +€26,074
- Gross operating margin +€48,808
up €48,808 (+89.0%), from €54,811 to €103,618
- Taxes +€5,738
up €5,738 (+55.6%), from €10,321 to €16,059
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 | €384,108 | €532,081 | +€147,973 | +38.5% |
| Fixed assets | 21/28 | €26,063 | €176,289 | +€150,226 | +576.4% |
| Intangible fixed assets | 21 | €1,049 | €180 | -€869 | -82.8% |
| Tangible fixed assets | 22/27 | €25,013 | €176,109 | +€151,095 | +604.1% |
| Plant, machinery and equipment | 23 | €17,403 | €31,211 | +€13,809 | +79.3% |
| Furniture and vehicles | 24 | €891 | - | -€891 | |
| Other tangible fixed assets | 26 | €6,720 | €144,897 | +€138,178 | +2056.3% |
| Current assets | 29/58 | €358,046 | €355,792 | -€2,254 | -0.6% |
| Amounts receivable after more than one year | 29 | €51,746 | €54,489 | +€2,742 | +5.3% |
| Other amounts receivable | 291 | €51,746 | €54,489 | +€2,742 | +5.3% |
| Amounts receivable within one year | 40/41 | €41,182 | €97,295 | +€56,113 | +136.3% |
| Trade receivables | 40 | €17,122 | €61,200 | +€44,078 | +257.4% |
| Other amounts receivable | 41 | €24,060 | €36,095 | +€12,036 | +50.0% |
| Cash at bank and in hand | 54/58 | €263,719 | €203,890 | -€59,829 | -22.7% |
| Deferred charges and accrued income | 490/1 | €1,399 | €119 | -€1,280 | -91.5% |
| Total equity and liabilities | 10/49 | €384,108 | €532,081 | +€147,973 | +38.5% |
| Equity | 10/15 | €328,498 | €282,707 | -€45,791 | -13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €309,898 | €264,107 | -€45,791 | -14.8% |
| Distributable reserves | 133 | €309,898 | €264,107 | -€45,791 | -14.8% |
| Amounts payable | 17/49 | €55,610 | €249,374 | +€193,763 | +348.4% |
| Amounts payable within one year | 42/48 | €55,433 | €249,374 | +€193,941 | +349.9% |
| Trade debts | 44 | €21,225 | €92,786 | +€71,561 | +337.2% |
| Suppliers | 440/4 | €21,225 | €92,786 | +€71,561 | +337.2% |
| Taxes, remuneration and social security | 45 | €7,041 | €33,115 | +€26,074 | +370.3% |
| Taxes | 450/3 | €4,806 | €30,880 | +€26,074 | +542.5% |
| Remuneration and social security | 454/9 | €2,235 | €2,235 | = | 0.0% |
| Other amounts payable | 47/48 | €27,167 | €123,473 | +€96,306 | +354.5% |
| Accrued charges and deferred income | 492/3 | €177 | - | -€177 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,717 | €12,370 | +€653 | +5.6% |
| Other operating charges | 640/8 | €3,138 | €2,170 | -€968 | -30.8% |
| Gross operating margin | 9900 | €54,811 | €103,618 | +€48,808 | +89.0% |
| Operating profit (loss) | 9901 | €39,955 | €89,079 | +€49,123 | +122.9% |
| Financial income | 75/76B | €2,756 | €1,756 | -€1,000 | -36.3% |
| Recurring financial income | 75 | €2,756 | €1,756 | -€1,000 | -36.3% |
| Financial charges | 65/66B | €279 | €1,219 | +€940 | +336.3% |
| Recurring financial charges | 65 | €279 | €1,219 | +€940 | +336.3% |
| Profit (loss) for the period before taxes | 9903 | €42,432 | €89,615 | +€47,184 | +111.2% |
| Income taxes | 67/77 | €10,321 | €16,059 | +€5,738 | +55.6% |
| Profit (loss) for the period | 9904 | €32,110 | €73,556 | +€41,446 | +129.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,110 | €73,556 | +€41,446 | +129.1% |
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 7 October 2026 via checked.be.