CARRO: 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.
CARRO
Largest movements
- Receivables within one year +€97,131
up €97,131 (+43.3%), from €224,076 to €321,207
of which Trade receivables: +€97,227
- Cash -€47,669
down €47,669 (-21.5%), from €221,502 to €173,833
mainly Contributions, distributions and other (-€190,000) and Receivables within one year (-€97,131)
- Tangible fixed assets +€10,531
up €10,531 (+25.2%), from €41,730 to €52,261
of which Furniture and vehicles: +€10,869
- Other debts +€30,000
up €30,000 (+18.8%), from €160,000 to €190,000
- Tax, wage and social debts +€19,794
up €19,794 (+32.8%), from €60,296 to €80,089
of which Taxes: +€16,108
- Debts after one year +€7,859
up €7,859 (+27.1%), from €28,978 to €36,837
- Reserves +€6,489
up €6,489 (+5.1%), from €126,616 to €133,105
of which Distributable reserves: +€6,489
- Trade debts -€6,077
down €6,077 (-10.1%), from €60,198 to €54,122
- Gross operating margin +€98,528
up €98,528 (+14.0%), from €702,521 to €801,050
- Staff costs +€51,343
up €51,343 (+11.1%), from €460,514 to €511,857
- Taxes +€12,230
up €12,230 (+20.9%), from €58,389 to €70,619
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 | €487,503 | €547,694 | +€60,190 | +12.3% |
| Fixed assets | 21/28 | €41,730 | €52,261 | +€10,531 | +25.2% |
| Tangible fixed assets | 22/27 | €41,730 | €52,261 | +€10,531 | +25.2% |
| Plant, machinery and equipment | 23 | €971 | €634 | -€338 | -34.8% |
| Furniture and vehicles | 24 | €40,758 | €51,627 | +€10,869 | +26.7% |
| Current assets | 29/58 | €445,774 | €495,433 | +€49,659 | +11.1% |
| Amounts receivable within one year | 40/41 | €224,076 | €321,207 | +€97,131 | +43.3% |
| Trade receivables | 40 | €173,980 | €271,207 | +€97,227 | +55.9% |
| Other amounts receivable | 41 | €50,096 | €50,000 | -€96 | -0.2% |
| Cash at bank and in hand | 54/58 | €221,502 | €173,833 | -€47,669 | -21.5% |
| Deferred charges and accrued income | 490/1 | €195 | €393 | +€198 | +101% |
| Total equity and liabilities | 10/49 | €487,503 | €547,694 | +€60,190 | +12.3% |
| Equity | 10/15 | €145,216 | €151,705 | +€6,489 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €126,616 | €133,105 | +€6,489 | +5.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €124,756 | €131,245 | +€6,489 | +5.2% |
| Amounts payable | 17/49 | €342,287 | €395,989 | +€53,701 | +15.7% |
| Amounts payable after more than one year | 17 | €28,978 | €36,837 | +€7,859 | +27.1% |
| Financial debts | 170/4 | €28,978 | €36,837 | +€7,859 | +27.1% |
| Amounts payable within one year | 42/48 | €306,706 | €352,549 | +€45,843 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €26,212 | €28,338 | +€2,126 | +8.1% |
| Trade debts | 44 | €60,198 | €54,122 | -€6,077 | -10.1% |
| Suppliers | 440/4 | €60,198 | €54,122 | -€6,077 | -10.1% |
| Taxes, remuneration and social security | 45 | €60,296 | €80,089 | +€19,794 | +32.8% |
| Taxes | 450/3 | €26,560 | €42,668 | +€16,108 | +60.6% |
| Remuneration and social security | 454/9 | €33,736 | €37,422 | +€3,686 | +10.9% |
| Other amounts payable | 47/48 | €160,000 | €190,000 | +€30,000 | +18.8% |
| Accrued charges and deferred income | 492/3 | €6,603 | €6,603 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €460,514 | €511,857 | +€51,343 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,885 | €16,390 | +€1,505 | +10.1% |
| Other operating charges | 640/8 | €3,966 | €2,247 | -€1,719 | -43.3% |
| Gross operating margin | 9900 | €702,521 | €801,050 | +€98,528 | +14.0% |
| Operating profit (loss) | 9901 | €223,156 | €270,556 | +€47,400 | +21.2% |
| Financial income | 75/76B | €40 | €152 | +€112 | +283% |
| Recurring financial income | 75 | €40 | €152 | +€112 | +283% |
| Financial charges | 65/66B | €3,497 | €3,600 | +€103 | +2.9% |
| Recurring financial charges | 65 | €3,497 | €3,600 | +€103 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €219,699 | €267,108 | +€47,409 | +21.6% |
| Income taxes | 67/77 | €58,389 | €70,619 | +€12,230 | +20.9% |
| Profit (loss) for the period | 9904 | €161,310 | €196,489 | +€35,179 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €161,310 | €196,489 | +€35,179 | +21.8% |
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 20 October 2026 via checked.be.