CARP & GAARD: 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.
CARP & GAARD
Largest movements
- Tangible fixed assets +€35,271
up €35,271 (+1,568%), from €2,249 to €37,520
of which Furniture and vehicles: +€36,475
- Current investments +€20,051
new in 2025: €20,051
- Cash -€19,786
down €19,786 (-98.2%), from €20,139 to €352
mainly Investment in fixed assets (net) (-€42,351) and Contributions, distributions and other (-€30,000)
- Debts after one year +€28,426
new in 2025: €28,426
- Current portion of long-term debt +€7,836
new in 2025: €7,836
- Trade debts -€3,183
down €3,183 (-65.4%), from €4,864 to €1,681
- Tax, wage and social debts +€1,567
up €1,567 (+7.2%), from €21,655 to €23,222
- Gross operating margin +€6,346
up €6,346 (+14.6%), from €43,559 to €49,905
- Depreciation +€5,876
up €5,876 (+488%), from €1,205 to €7,081
- Taxes +€940
up €940 (+10.2%), from €9,214 to €10,154
- Financial income +€526
up €526 (+112%), from €470 to €996
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 | €76,146 | €111,872 | +€35,727 | +46.9% |
| Fixed assets | 21/28 | €2,249 | €37,520 | +€35,271 | +1,568% |
| Tangible fixed assets | 22/27 | €2,249 | €37,520 | +€35,271 | +1,568% |
| Plant, machinery and equipment | 23 | €887 | €444 | -€443 | -49.9% |
| Furniture and vehicles | 24 | - | €36,475 | +€36,475 | |
| Other tangible fixed assets | 26 | €1,362 | €601 | -€762 | -55.9% |
| Current assets | 29/58 | €73,896 | €74,352 | +€456 | +0.6% |
| Amounts receivable within one year | 40/41 | €48,296 | €47,581 | -€715 | -1.5% |
| Trade receivables | 40 | €26,731 | €37,268 | +€10,537 | +39.4% |
| Other amounts receivable | 41 | €21,564 | €10,313 | -€11,252 | -52.2% |
| Current investments | 50/53 | - | €20,051 | +€20,051 | |
| Cash at bank and in hand | 54/58 | €20,139 | €352 | -€19,786 | -98.2% |
| Deferred charges and accrued income | 490/1 | €5,462 | €6,368 | +€906 | +16.6% |
| Total equity and liabilities | 10/49 | €76,146 | €111,872 | +€35,727 | +46.9% |
| Equity | 10/15 | €20,617 | €20,707 | +€90 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157 | €247 | +€90 | +57.6% |
| Amounts payable | 17/49 | €55,529 | €91,165 | +€35,636 | +64.2% |
| Amounts payable after more than one year | 17 | - | €28,426 | +€28,426 | |
| Financial debts | 170/4 | - | €28,426 | +€28,426 | |
| Amounts payable within one year | 42/48 | €55,519 | €62,739 | +€7,220 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | - | €7,836 | +€7,836 | |
| Trade debts | 44 | €4,864 | €1,681 | -€3,183 | -65.4% |
| Suppliers | 440/4 | €4,864 | €1,681 | -€3,183 | -65.4% |
| Taxes, remuneration and social security | 45 | €21,655 | €23,222 | +€1,567 | +7.2% |
| Taxes | 450/3 | €21,655 | €23,222 | +€1,567 | +7.2% |
| Other amounts payable | 47/48 | €29,000 | €30,000 | +€1,000 | +3.4% |
| Accrued charges and deferred income | 492/3 | €10 | - | -€10 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,205 | €7,081 | +€5,876 | +488% |
| Other operating charges | 640/8 | €410 | €387 | -€23 | -5.6% |
| Gross operating margin | 9900 | €43,559 | €49,905 | +€6,346 | +14.6% |
| Operating profit (loss) | 9901 | €41,944 | €42,437 | +€493 | +1.2% |
| Financial income | 75/76B | €470 | €996 | +€526 | +112% |
| Recurring financial income | 75 | €470 | €996 | +€526 | +112% |
| Financial charges | 65/66B | €2,933 | €3,189 | +€255 | +8.7% |
| Recurring financial charges | 65 | €2,933 | €3,189 | +€255 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €39,481 | €40,244 | +€764 | +1.9% |
| Income taxes | 67/77 | €9,214 | €10,154 | +€940 | +10.2% |
| Profit (loss) for the period | 9904 | €30,267 | €30,090 | -€177 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,267 | €30,090 | -€177 | -0.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.