Carrington RE: 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.
What changed
Carrington RE
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€66,026
2024 · €57,952+€8,074
Equity
€1.9m
2024 · €544,350+€1.3m
Cash
€8,954
2024 · €1,003+€7,952
Balance sheet total
€5.3m
2024 · €4.1m+€1.2m
Largest movements
Assets
- Tangible fixed assets +€1.1m
up €1.1m (+27.7%), from €4.1m to €5.3m
of which Land and buildings: +€1.1m
Equity and liabilities
- Revaluation surpluses +€1.3m
new in 2025: €1.3m
- Debts after one year -€190,568
down €190,568 (-6.0%), from €3.2m to €3.0m
- Reserves +€66,026
up €66,026 (+131.1%), from €50,350 to €116,376
Income statement
- Gross operating margin +€16,337
up €16,337 (+5.6%), from €291,484 to €307,820
- Taxes +€5,225
up €5,225 (+31.1%), from €16,783 to €22,009
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.
Result 2024
€57,952
Gross operating margin
+€16,337
Depreciation
-€458
Other operating charges
-€2,598
Financial income
-€525
Financial charges
+€545
Taxes
-€5,225
Result 2025
€66,026
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.
From operations
+€195,494
Investment
-€1.3m
Financing
+€1.1m
Cash 2024
€1,003
From operations (derived)
+€195,494
Net result for the year
+€66,026
Depreciation
+€121,876
Receivables within one year
-€2,051
Deferred charges and accrued income
-€16,933
Trade debts
-€8,858
Accrued charges and deferred income
+€35,434
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
+€1.1m
Debts after one year
-€190,568
Current portion of long-term debt
+€3,007
Short-term financial debts
+€18
Contributions, distributions and other
+€1.3m
Cash 2025
€8,954
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,148,444 | €5,319,357 | +€1.2m | +28.2% |
| Fixed assets | 21/28 | €4,128,574 | €5,272,552 | +€1.1m | +27.7% |
| Tangible fixed assets | 22/27 | €4,128,574 | €5,272,552 | +€1.1m | +27.7% |
| Land and buildings | 22 | €4,111,646 | €5,260,118 | +€1.1m | +27.9% |
| Plant, machinery and equipment | 23 | €16,928 | €12,434 | -€4,494 | -26.5% |
| Current assets | 29/58 | €19,870 | €46,805 | +€26,935 | +135.6% |
| Amounts receivable within one year | 40/41 | €8,217 | €10,268 | +€2,051 | +25.0% |
| Trade receivables | 40 | - | €125 | +€125 | |
| Other amounts receivable | 41 | €8,217 | €10,143 | +€1,926 | +23.4% |
| Cash at bank and in hand | 54/58 | €1,003 | €8,954 | +€7,952 | +793.1% |
| Deferred charges and accrued income | 490/1 | €10,651 | €27,584 | +€16,933 | +159.0% |
| Total equity and liabilities | 10/49 | €4,148,444 | €5,319,357 | +€1.2m | +28.2% |
| Equity | 10/15 | €544,350 | €1,876,230 | +€1.3m | +244.7% |
| Contributions | 10/11 | €494,000 | €494,000 | = | 0.0% |
| Capital | 10 | €494,000 | €494,000 | = | 0.0% |
| Issued capital | 100 | €494,000 | €494,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,265,854 | +€1.3m | |
| Reserves | 13 | €50,350 | €116,376 | +€66,026 | +131.1% |
| Distributable reserves | 133 | €50,350 | €116,376 | +€66,026 | +131.1% |
| Amounts payable | 17/49 | €3,604,093 | €3,443,127 | -€160,966 | -4.5% |
| Amounts payable after more than one year | 17 | €3,192,017 | €3,001,449 | -€190,568 | -6.0% |
| Financial debts | 170/4 | €3,192,017 | €3,001,449 | -€190,568 | -6.0% |
| Amounts payable within one year | 42/48 | €260,017 | €254,184 | -€5,833 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €229,561 | €232,568 | +€3,007 | +1.3% |
| Financial debts | 43 | €8,473 | €8,491 | +€18 | +0.2% |
| Credit institutions | 430/8 | €8,473 | €8,491 | +€18 | +0.2% |
| Trade debts | 44 | €10,061 | €1,203 | -€8,858 | -88.0% |
| Suppliers | 440/4 | €10,061 | €1,203 | -€8,858 | -88.0% |
| Advances received on contracts in progress | 46 | €11,900 | €11,900 | = | 0.0% |
| Other amounts payable | 47/48 | €23 | €23 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €152,059 | €187,493 | +€35,434 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,418 | €121,876 | +€458 | +0.4% |
| Other operating charges | 640/8 | €25,237 | €27,835 | +€2,598 | +10.3% |
| Gross operating margin | 9900 | €291,484 | €307,820 | +€16,337 | +5.6% |
| Operating profit (loss) | 9901 | €144,829 | €158,109 | +€13,280 | +9.2% |
| Financial income | 75/76B | €526 | €0 | -€525 | -99.9% |
| Recurring financial income | 75 | €526 | €0 | -€525 | -99.9% |
| Financial charges | 65/66B | €70,620 | €70,075 | -€545 | -0.8% |
| Recurring financial charges | 65 | €70,620 | €70,075 | -€545 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €74,735 | €88,035 | +€13,299 | +17.8% |
| Income taxes | 67/77 | €16,783 | €22,009 | +€5,225 | +31.1% |
| Profit (loss) for the period | 9904 | €57,952 | €66,026 | +€8,074 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,952 | €66,026 | +€8,074 | +13.9% |
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 9 October 2026 via checked.be.