CARRE: 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.
CARRE
Largest movements
- Tangible fixed assets -€62,949
down €62,949 (-13.7%), from €460,403 to €397,453
of which Land and buildings: -€60,619
- Cash -€45,536
down €45,536 (-53.9%), from €84,456 to €38,920
mainly Current portion of long-term debt (-€55,263) and Trade debts (-€45,871)
- Stocks and contracts +€27,427
up €27,427 (+3.4%), from €806,006 to €833,432
- Current portion of long-term debt -€55,263
down €55,263 (-48.6%), from €113,775 to €58,512
- Tax, wage and social debts +€51,967
up €51,967 (+47.2%), from €110,070 to €162,038
of which Taxes: +€44,283
- Trade debts -€45,871
down €45,871 (-17.1%), from €268,931 to €223,060
- Debts after one year -€20,671
down €20,671 (-5.8%), from €355,773 to €335,102
- Gross operating margin -€48,191
down €48,191 (-6.1%), from €787,446 to €739,256
- Staff costs +€27,526
up €27,526 (+4.5%), from €611,789 to €639,314
- Depreciation -€19,962
down €19,962 (-24.1%), from €82,911 to €62,949
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 | €1,398,381 | €1,313,614 | -€84,767 | -6.1% |
| Fixed assets | 21/28 | €463,585 | €400,635 | -€62,949 | -13.6% |
| Tangible fixed assets | 22/27 | €460,403 | €397,453 | -€62,949 | -13.7% |
| Land and buildings | 22 | €455,921 | €395,302 | -€60,619 | -13.3% |
| Furniture and vehicles | 24 | €4,482 | €2,151 | -€2,330 | -52.0% |
| Financial fixed assets | 28 | €3,182 | €3,182 | = | 0.0% |
| Current assets | 29/58 | €934,797 | €912,979 | -€21,818 | -2.3% |
| Stocks and contracts in progress | 3 | €806,006 | €833,432 | +€27,427 | +3.4% |
| Stocks | 30/36 | €806,006 | €833,432 | +€27,427 | +3.4% |
| Amounts receivable within one year | 40/41 | €33,882 | €32,424 | -€1,458 | -4.3% |
| Trade receivables | 40 | €11,147 | €32,079 | +€20,932 | +187.8% |
| Other amounts receivable | 41 | €22,735 | €345 | -€22,390 | -98.5% |
| Cash at bank and in hand | 54/58 | €84,456 | €38,920 | -€45,536 | -53.9% |
| Deferred charges and accrued income | 490/1 | €10,453 | €8,203 | -€2,250 | -21.5% |
| Total equity and liabilities | 10/49 | €1,398,381 | €1,313,614 | -€84,767 | -6.1% |
| Equity | 10/15 | €209,563 | €195,585 | -€13,979 | -6.7% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Capital | 10 | €62,100 | €62,100 | = | 0.0% |
| Issued capital | 100 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €177,924 | €177,924 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,210 | €6,210 | = | 0.0% |
| Legal reserve | 130 | €6,210 | €6,210 | = | 0.0% |
| Distributable reserves | 133 | €171,714 | €171,714 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,461 | -€44,440 | -€13,979 | -45.9% |
| Amounts payable | 17/49 | €1,188,818 | €1,118,030 | -€70,788 | -6.0% |
| Amounts payable after more than one year | 17 | €355,773 | €335,102 | -€20,671 | -5.8% |
| Financial debts | 170/4 | €355,773 | €335,102 | -€20,671 | -5.8% |
| Amounts payable within one year | 42/48 | €830,944 | €779,535 | -€51,409 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €113,775 | €58,512 | -€55,263 | -48.6% |
| Financial debts | 43 | €334,877 | €332,634 | -€2,243 | -0.7% |
| Credit institutions | 430/8 | €334,877 | €332,634 | -€2,243 | -0.7% |
| Trade debts | 44 | €268,931 | €223,060 | -€45,871 | -17.1% |
| Suppliers | 440/4 | €268,931 | €223,060 | -€45,871 | -17.1% |
| Taxes, remuneration and social security | 45 | €110,070 | €162,038 | +€51,967 | +47.2% |
| Taxes | 450/3 | €30,142 | €74,426 | +€44,283 | +146.9% |
| Remuneration and social security | 454/9 | €79,928 | €87,612 | +€7,684 | +9.6% |
| Other amounts payable | 47/48 | €3,291 | €3,291 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,102 | €3,393 | +€1,292 | +61.5% |
| Non-recurring operating income | 76A | €5,493 | €0 | -€5,493 | -100.0% |
| Remuneration, social security and pensions | 62 | €611,789 | €639,314 | +€27,526 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,911 | €62,949 | -€19,962 | -24.1% |
| Other operating charges | 640/8 | €13,817 | €12,532 | -€1,284 | -9.3% |
| Gross operating margin | 9900 | €787,446 | €739,256 | -€48,191 | -6.1% |
| Operating profit (loss) | 9901 | €78,930 | €24,460 | -€54,470 | -69.0% |
| Financial income | 75/76B | €7,263 | €3,952 | -€3,312 | -45.6% |
| Recurring financial income | 75 | €7,263 | €3,952 | -€3,312 | -45.6% |
| Financial charges | 65/66B | €44,602 | €40,696 | -€3,906 | -8.8% |
| Recurring financial charges | 65 | €44,602 | €40,696 | -€3,906 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €41,591 | -€12,284 | -€53,875 | |
| Income taxes | 67/77 | €1,394 | €1,694 | +€301 | +21.6% |
| Profit (loss) for the period | 9904 | €40,198 | -€13,979 | -€54,176 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,198 | -€13,979 | -€54,176 |
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 9 October 2026 via checked.be.