CAROTRANS: 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.
CAROTRANS
Largest movements
- Tangible fixed assets -€340,804
down €340,804 (-32.0%), from €1.1m to €723,248
of which Leasing and similar rights: -€343,089
- Receivables within one year +€78,039
up €78,039 (+7.2%), from €1.1m to €1.2m
of which Other amounts receivable: +€54,113
- Deferred charges and accrued income -€37,754
down €37,754 (-52.4%), from €72,112 to €34,358
- Cash +€35,121
up €35,121 (+48.0%), from €73,220 to €108,341
mainly Depreciation (+€344,057) and Net result for the year (+€85,936)
- Debts after one year -€296,106
down €296,106 (-41.3%), from €717,028 to €420,922
- Reserves +€85,936
up €85,936 (+11.2%), from €767,075 to €853,012
of which Distributable reserves: +€85,936
- Current portion of long-term debt -€41,659
down €41,659 (-12.3%), from €337,740 to €296,080
- Provisions -€27,090
down €27,090 (-100%), from €27,090 to €0
- Gross operating margin +€52,025
up €52,025 (+3.7%), from €1.4m to €1.5m
- Depreciation +€26,514
up €26,514 (+8.3%), from €317,543 to €344,057
- Taxes +€19,451
up €19,451 (+117%), from €16,630 to €36,080
- Staff costs -€17,807
down €17,807 (-2.1%), from €846,492 to €828,685
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 | €2,308,982 | €2,040,621 | -€268,361 | -11.6% |
| Fixed assets | 21/28 | €1,065,807 | €724,463 | -€341,344 | -32.0% |
| Tangible fixed assets | 22/27 | €1,064,052 | €723,248 | -€340,804 | -32.0% |
| Plant, machinery and equipment | 23 | €1,487 | €4,064 | +€2,576 | +173% |
| Furniture and vehicles | 24 | €17,981 | €17,689 | -€292 | -1.6% |
| Leasing and similar rights | 25 | €1,044,584 | €701,495 | -€343,089 | -32.8% |
| Financial fixed assets | 28 | €1,755 | €1,215 | -€540 | -30.8% |
| Current assets | 29/58 | €1,243,174 | €1,316,158 | +€72,983 | +5.9% |
| Stocks and contracts in progress | 3 | €20,118 | €17,695 | -€2,423 | -12.0% |
| Stocks | 30/36 | €20,118 | €17,695 | -€2,423 | -12.0% |
| Amounts receivable within one year | 40/41 | €1,077,725 | €1,155,764 | +€78,039 | +7.2% |
| Trade receivables | 40 | €867,708 | €891,634 | +€23,926 | +2.8% |
| Other amounts receivable | 41 | €210,017 | €264,130 | +€54,113 | +25.8% |
| Cash at bank and in hand | 54/58 | €73,220 | €108,341 | +€35,121 | +48.0% |
| Deferred charges and accrued income | 490/1 | €72,112 | €34,358 | -€37,754 | -52.4% |
| Total equity and liabilities | 10/49 | €2,308,982 | €2,040,621 | -€268,361 | -11.6% |
| Equity | 10/15 | €866,937 | €952,052 | +€85,114 | +9.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €767,075 | €853,012 | +€85,936 | +11.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €355,395 | €355,395 | = | 0.0% |
| Distributable reserves | 133 | €409,821 | €495,757 | +€85,936 | +21.0% |
| Investment grants | 15 | €81,270 | €80,448 | -€822 | -1.0% |
| Provisions and deferred taxes | 16 | €27,090 | €0 | -€27,090 | -100% |
| Deferred taxes | 168 | €27,090 | €0 | -€27,090 | -100% |
| Amounts payable | 17/49 | €1,414,954 | €1,088,569 | -€326,386 | -23.1% |
| Amounts payable after more than one year | 17 | €717,028 | €420,922 | -€296,106 | -41.3% |
| Financial debts | 170/4 | €717,028 | €420,922 | -€296,106 | -41.3% |
| Amounts payable within one year | 42/48 | €682,198 | €655,901 | -€26,297 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €337,740 | €296,080 | -€41,659 | -12.3% |
| Financial debts | 43 | €15,087 | €25,406 | +€10,319 | +68.4% |
| Credit institutions | 430/8 | €15,087 | €25,406 | +€10,319 | +68.4% |
| Trade debts | 44 | €231,092 | €236,611 | +€5,519 | +2.4% |
| Suppliers | 440/4 | €231,092 | €236,611 | +€5,519 | +2.4% |
| Taxes, remuneration and social security | 45 | €98,179 | €97,704 | -€476 | -0.5% |
| Taxes | 450/3 | €27,940 | €25,160 | -€2,781 | -10.0% |
| Remuneration and social security | 454/9 | €70,239 | €72,544 | +€2,305 | +3.3% |
| Other amounts payable | 47/48 | €100 | €100 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €15,729 | €11,746 | -€3,982 | -25.3% |
| Non-recurring operating income | 76A | €27,500 | €59,891 | +€32,391 | +118% |
| Remuneration, social security and pensions | 62 | €846,492 | €828,685 | -€17,807 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €317,543 | €344,057 | +€26,514 | +8.3% |
| Other operating charges | 640/8 | €158,175 | €152,524 | -€5,651 | -3.6% |
| Gross operating margin | 9900 | €1,403,004 | €1,455,029 | +€52,025 | +3.7% |
| Operating profit (loss) | 9901 | €80,794 | €129,763 | +€48,969 | +60.6% |
| Financial income | 75/76B | €27,405 | €40,197 | +€12,793 | +46.7% |
| Recurring financial income | 75 | €27,405 | €40,197 | +€12,793 | +46.7% |
| Financial charges | 65/66B | €34,489 | €40,143 | +€5,654 | +16.4% |
| Recurring financial charges | 65 | €34,489 | €40,143 | +€5,654 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €73,709 | €129,817 | +€56,108 | +76.1% |
| Transfer from deferred taxes | 780 | €7,800 | €0 | -€7,800 | -100% |
| Transfer to deferred taxes | 680 | - | €7,800 | +€7,800 | |
| Income taxes | 67/77 | €16,630 | €36,080 | +€19,451 | +117% |
| Profit (loss) for the period | 9904 | €64,879 | €85,936 | +€21,057 | +32.5% |
| Transfer to tax-exempt reserves | 689 | €27,500 | €0 | -€27,500 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €37,379 | €85,936 | +€48,557 | +130% |
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 15 October 2026 via checked.be.