CARRé BLEU: 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.
CARRé BLEU
Largest movements
- Cash +€40,959
up €40,959 (+90.2%), from €45,398 to €86,357
mainly Net result for the year (+€37,818) and Depreciation (+€20,126)
- Tangible fixed assets -€12,625
down €12,625 (-14.7%), from €85,644 to €73,019
of which Furniture and vehicles: -€8,674
- Receivables within one year -€6,650
down €6,650 (-8.0%), from €83,542 to €76,892
of which Trade receivables: -€13,758
- Reserves +€37,818
up €37,818 (+30.3%), from €124,660 to €162,478
- Debts after one year -€14,481
down €14,481 (-26.6%), from €54,515 to €40,035
- Tax, wage and social debts +€13,026
up €13,026 (+410.9%), from €3,170 to €16,196
- Current portion of long-term debt -€11,095
down €11,095 (-70.1%), from €15,837 to €4,742
- Trade debts -€5,404
down €5,404 (-48.2%), from €11,216 to €5,812
- Depreciation -€22,371
down €22,371 (-52.6%), from €42,497 to €20,126
- Taxes +€6,579
up €6,579 (+74.4%), from €8,837 to €15,416
- Gross operating margin +€2,827
up €2,827 (+3.8%), from €74,082 to €76,909
- Other operating charges +€1,510
up €1,510 (+89.1%), from €1,694 to €3,204
- Financial income +€776
up €776 (+35.7%), from €2,170 to €2,946
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 | €215,598 | €236,585 | +€20,987 | +9.7% |
| Fixed assets | 21/28 | €85,644 | €73,019 | -€12,625 | -14.7% |
| Tangible fixed assets | 22/27 | €85,644 | €73,019 | -€12,625 | -14.7% |
| Land and buildings | 22 | €49,107 | €45,286 | -€3,821 | -7.8% |
| Plant, machinery and equipment | 23 | €16,155 | €16,026 | -€130 | -0.8% |
| Furniture and vehicles | 24 | €20,381 | €11,707 | -€8,674 | -42.6% |
| Current assets | 29/58 | €129,955 | €163,566 | +€33,611 | +25.9% |
| Amounts receivable within one year | 40/41 | €83,542 | €76,892 | -€6,650 | -8.0% |
| Trade receivables | 40 | €28,369 | €14,611 | -€13,758 | -48.5% |
| Other amounts receivable | 41 | €55,173 | €62,282 | +€7,108 | +12.9% |
| Cash at bank and in hand | 54/58 | €45,398 | €86,357 | +€40,959 | +90.2% |
| Deferred charges and accrued income | 490/1 | €1,014 | €317 | -€697 | -68.8% |
| Total equity and liabilities | 10/49 | €215,598 | €236,585 | +€20,987 | +9.7% |
| Equity | 10/15 | €130,860 | €168,678 | +€37,818 | +28.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €124,660 | €162,478 | +€37,818 | +30.3% |
| Distributable reserves | 133 | €124,660 | €162,478 | +€37,818 | +30.3% |
| Amounts payable | 17/49 | €84,738 | €67,907 | -€16,832 | -19.9% |
| Amounts payable after more than one year | 17 | €54,515 | €40,035 | -€14,481 | -26.6% |
| Financial debts | 170/4 | €54,515 | €40,035 | -€14,481 | -26.6% |
| Amounts payable within one year | 42/48 | €30,223 | €27,744 | -€2,479 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €15,837 | €4,742 | -€11,095 | -70.1% |
| Trade debts | 44 | €11,216 | €5,812 | -€5,404 | -48.2% |
| Suppliers | 440/4 | €11,216 | €5,812 | -€5,404 | -48.2% |
| Advances received on contracts in progress | 46 | - | €994 | +€994 | |
| Taxes, remuneration and social security | 45 | €3,170 | €16,196 | +€13,026 | +410.9% |
| Taxes | 450/3 | €3,170 | €16,196 | +€13,026 | +410.9% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Non-recurring operating income | 76A | €6,395 | €22,849 | +€16,454 | +257.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,497 | €20,126 | -€22,371 | -52.6% |
| Other operating charges | 640/8 | €1,694 | €3,204 | +€1,510 | +89.1% |
| Non-recurring operating charges | 66A | - | €212 | +€212 | |
| Gross operating margin | 9900 | €74,082 | €76,909 | +€2,827 | +3.8% |
| Operating profit (loss) | 9901 | €29,891 | €53,366 | +€23,475 | +78.5% |
| Financial income | 75/76B | €2,170 | €2,946 | +€776 | +35.7% |
| Recurring financial income | 75 | €2,170 | €2,946 | +€776 | +35.7% |
| Financial charges | 65/66B | €3,126 | €3,078 | -€48 | -1.5% |
| Recurring financial charges | 65 | €3,126 | €3,078 | -€48 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €28,936 | €53,234 | +€24,298 | +84.0% |
| Income taxes | 67/77 | €8,837 | €15,416 | +€6,579 | +74.4% |
| Profit (loss) for the period | 9904 | €20,099 | €37,818 | +€17,720 | +88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,099 | €37,818 | +€17,720 | +88.2% |
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 10 October 2026 via checked.be.