CARRADAR: 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.
CARRADAR
Largest movements
- Cash -€114,444
down €114,444 (-14.4%), from €794,804 to €680,360
mainly Stocks and contracts (-€111,725) and Other debts (-€59,275)
- Stocks and contracts +€111,725
up €111,725 (+47.6%), from €234,646 to €346,371
- Receivables within one year +€22,522
up €22,522 (+24.6%), from €91,641 to €114,163
of which Other amounts receivable: +€27,288
- Tangible fixed assets -€16,796
down €16,796 (-27.5%), from €61,093 to €44,297
of which Furniture and vehicles: -€15,738
- Reserves +€134,283
up €134,283 (+24.1%), from €556,324 to €690,607
- Other debts -€59,275
down €59,275 (-17.2%), from €343,900 to €284,625
- Trade debts -€46,047
down €46,047 (-84.2%), from €54,686 to €8,639
- Tax, wage and social debts -€29,353
down €29,353 (-15.4%), from €190,702 to €161,349
of which Taxes: -€29,142
- Gross operating margin -€35,698
down €35,698 (-11.7%), from €305,786 to €270,087
- Taxes -€11,792
down €11,792 (-19.8%), from €59,503 to €47,712
- Staff costs +€5,828
up €5,828 (+18.0%), from €32,446 to €38,274
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 | €1,185,665 | €1,188,117 | +€2,452 | +0.2% |
| Fixed assets | 21/28 | €61,093 | €44,297 | -€16,796 | -27.5% |
| Tangible fixed assets | 22/27 | €61,093 | €44,297 | -€16,796 | -27.5% |
| Land and buildings | 22 | €2,937 | €2,273 | -€664 | -22.6% |
| Plant, machinery and equipment | 23 | €1,984 | €2,056 | +€72 | +3.6% |
| Furniture and vehicles | 24 | €51,853 | €36,115 | -€15,738 | -30.4% |
| Other tangible fixed assets | 26 | €4,318 | €3,852 | -€466 | -10.8% |
| Current assets | 29/58 | €1,124,572 | €1,143,820 | +€19,248 | +1.7% |
| Stocks and contracts in progress | 3 | €234,646 | €346,371 | +€111,725 | +47.6% |
| Stocks | 30/36 | €234,646 | €346,371 | +€111,725 | +47.6% |
| Amounts receivable within one year | 40/41 | €91,641 | €114,163 | +€22,522 | +24.6% |
| Trade receivables | 40 | €76,144 | €71,378 | -€4,766 | -6.3% |
| Other amounts receivable | 41 | €15,497 | €42,785 | +€27,288 | +176.1% |
| Cash at bank and in hand | 54/58 | €794,804 | €680,360 | -€114,444 | -14.4% |
| Deferred charges and accrued income | 490/1 | €3,482 | €2,926 | -€555 | -16.0% |
| Total equity and liabilities | 10/49 | €1,185,665 | €1,188,117 | +€2,452 | +0.2% |
| Equity | 10/15 | €576,324 | €710,607 | +€134,283 | +23.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €556,324 | €690,607 | +€134,283 | +24.1% |
| Distributable reserves | 133 | €556,324 | €690,607 | +€134,283 | +24.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €609,341 | €477,510 | -€131,831 | -21.6% |
| Amounts payable within one year | 42/48 | €589,568 | €454,613 | -€134,955 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €280 | €0 | -€280 | -100.0% |
| Credit institutions | 430/8 | €280 | €0 | -€280 | -100.0% |
| Trade debts | 44 | €54,686 | €8,639 | -€46,047 | -84.2% |
| Suppliers | 440/4 | €54,686 | €8,639 | -€46,047 | -84.2% |
| Taxes, remuneration and social security | 45 | €190,702 | €161,349 | -€29,353 | -15.4% |
| Taxes | 450/3 | €187,883 | €158,741 | -€29,142 | -15.5% |
| Remuneration and social security | 454/9 | €2,819 | €2,608 | -€211 | -7.5% |
| Other amounts payable | 47/48 | €343,900 | €284,625 | -€59,275 | -17.2% |
| Accrued charges and deferred income | 492/3 | €19,774 | €22,898 | +€3,124 | +15.8% |
| Remuneration, social security and pensions | 62 | €32,446 | €38,274 | +€5,828 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,064 | €18,457 | +€1,393 | +8.2% |
| Other operating charges | 640/8 | €3,800 | €4,149 | +€349 | +9.2% |
| Non-recurring operating charges | 66A | €4,256 | €0 | -€4,256 | -100.0% |
| Gross operating margin | 9900 | €305,786 | €270,087 | -€35,698 | -11.7% |
| Operating profit (loss) | 9901 | €248,219 | €209,207 | -€39,012 | -15.7% |
| Financial income | 75/76B | €0 | €5 | +€5 | +9980.0% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +9980.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €25,368 | €27,218 | +€1,850 | +7.3% |
| Recurring financial charges | 65 | €25,368 | €27,218 | +€1,850 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €222,851 | €181,994 | -€40,857 | -18.3% |
| Income taxes | 67/77 | €59,503 | €47,712 | -€11,792 | -19.8% |
| Profit (loss) for the period | 9904 | €163,348 | €134,283 | -€29,065 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €163,348 | €134,283 | -€29,065 | -17.8% |
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 5 October 2026 via checked.be.