CAROVER: 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.
CAROVER
Largest movements
- Current investments +€107,684
up €107,684 (+195%), from €55,169 to €162,853
- Tangible fixed assets -€19,028
down €19,028 (-24.7%), from €77,027 to €57,998
of which Land and buildings: -€13,403
- Deferred charges and accrued income +€2,698
up €2,698 (+102%), from €2,639 to €5,337
- Receivables within one year -€2,365
down €2,365 (-100%), from €2,365 to €0
- Profit (loss) carried forward +€57,930
up €57,930, from -€57,930 to €0
- Other debts +€28,913
up €28,913 (+3,079%), from €939 to €29,852
- Reserves +€23,948
up €23,948 (+44.2%), from €54,141 to €78,089
of which Distributable reserves: +€23,948
- Debts after one year -€22,248
down €22,248 (-21.5%), from €103,449 to €81,201
- Tax, wage and social debts +€5,924
up €5,924 (+582%), from €1,018 to €6,942
- Gross operating margin +€161,263
up €161,263 (+860%), from €18,748 to €180,011
- Taxes +€41,845
up €41,845 (+4,785%), from €875 to €42,720
- Depreciation -€1,921
down €1,921 (-9.2%), from €20,949 to €19,028
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 | €142,324 | €233,354 | +€91,031 | +64.0% |
| Fixed assets | 21/28 | €77,127 | €58,098 | -€19,028 | -24.7% |
| Tangible fixed assets | 22/27 | €77,027 | €57,998 | -€19,028 | -24.7% |
| Land and buildings | 22 | €71,401 | €57,998 | -€13,403 | -18.8% |
| Furniture and vehicles | 24 | €5,625 | €0 | -€5,625 | -100% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €65,197 | €175,256 | +€110,059 | +169% |
| Amounts receivable within one year | 40/41 | €2,365 | €0 | -€2,365 | -100% |
| Other amounts receivable | 41 | €2,365 | €0 | -€2,365 | -100% |
| Current investments | 50/53 | €55,169 | €162,853 | +€107,684 | +195% |
| Cash at bank and in hand | 54/58 | €5,025 | €7,066 | +€2,042 | +40.6% |
| Deferred charges and accrued income | 490/1 | €2,639 | €5,337 | +€2,698 | +102% |
| Total equity and liabilities | 10/49 | €142,324 | €233,354 | +€91,031 | +64.0% |
| Equity | 10/15 | €14,811 | €96,689 | +€81,878 | +553% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,141 | €78,089 | +€23,948 | +44.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €54,141 | €78,089 | +€23,948 | +44.2% |
| Profit (loss) carried forward | 14 | -€57,930 | €0 | +€57,930 | |
| Amounts payable | 17/49 | €127,513 | €136,666 | +€9,153 | +7.2% |
| Amounts payable after more than one year | 17 | €103,449 | €81,201 | -€22,248 | -21.5% |
| Financial debts | 170/4 | €103,449 | €81,201 | -€22,248 | -21.5% |
| Amounts payable within one year | 42/48 | €24,063 | €55,465 | +€31,401 | +130% |
| Current portion of amounts payable after more than one year | 42 | €16,643 | €12,248 | -€4,394 | -26.4% |
| Financial debts | 43 | €1,169 | €4,301 | +€3,132 | +268% |
| Credit institutions | 430/8 | €518 | €219 | -€299 | -57.8% |
| Other loans | 439 | €651 | €4,082 | +€3,431 | +527% |
| Trade debts | 44 | €4,294 | €2,121 | -€2,174 | -50.6% |
| Suppliers | 440/4 | €4,294 | €2,121 | -€2,174 | -50.6% |
| Taxes, remuneration and social security | 45 | €1,018 | €6,942 | +€5,924 | +582% |
| Taxes | 450/3 | €1,018 | €6,942 | +€5,924 | +582% |
| Other amounts payable | 47/48 | €939 | €29,852 | +€28,913 | +3,079% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,949 | €19,028 | -€1,921 | -9.2% |
| Other operating charges | 640/8 | €2,637 | €2,880 | +€243 | +9.2% |
| Gross operating margin | 9900 | €18,748 | €180,011 | +€161,263 | +860% |
| Operating profit (loss) | 9901 | -€4,838 | €158,103 | +€162,941 | |
| Financial income | 75/76B | €580 | €529 | -€51 | -8.8% |
| Recurring financial income | 75 | €580 | €529 | -€51 | -8.8% |
| Financial charges | 65/66B | €6,150 | €5,867 | -€282 | -4.6% |
| Recurring financial charges | 65 | €6,150 | €5,867 | -€282 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,407 | €152,764 | +€163,172 | |
| Income taxes | 67/77 | €875 | €42,720 | +€41,845 | +4,785% |
| Profit (loss) for the period | 9904 | -€11,282 | €110,045 | +€121,327 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,282 | €110,045 | +€121,327 |
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 30 October 2026 via checked.be.