CARRO - PIECES: 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 - PIECES
Largest movements
- Tangible fixed assets +€25,627
up €25,627 (+35.6%), from €72,029 to €97,656
of which Furniture and vehicles: +€16,453
- Cash -€9,730
down €9,730 (-65.8%), from €14,796 to €5,066
mainly Investment in fixed assets (net) (-€41,315) and Other debts (-€5,738)
- Receivables within one year -€2,853
down €2,853 (-65.9%), from €4,330 to €1,477
of which Trade receivables: -€2,518
- Deferred charges and accrued income -€1,176
down €1,176 (-85.1%), from €1,382 to €206
- Debts after one year +€10,016
up €10,016 (+8.4%), from €119,801 to €129,816
of which Financial debts: +€10,016
- Profit (loss) carried forward +€6,429
up €6,429 (+3.2%), from -€199,694 to -€193,265
- Other debts -€5,738
down €5,738 (-7.2%), from €79,661 to €73,923
- Current portion of long-term debt +€4,294
up €4,294 (+51.1%), from €8,406 to €12,699
- Advances received -€2,420
no longer reported in 2025 (was €2,420)
- Depreciation +€7,115
up €7,115 (+83.0%), from €8,574 to €15,688
- Staff costs -€3,687
down €3,687 (-6.5%), from €56,788 to €53,101
- Gross operating margin +€1,194
up €1,194 (+1.4%), from €83,188 to €84,382
- Other operating charges -€1,155
down €1,155 (-21.4%), from €5,387 to €4,232
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 | €92,687 | €104,554 | +€11,867 | +12.8% |
| Fixed assets | 21/28 | €72,179 | €97,806 | +€25,627 | +35.5% |
| Tangible fixed assets | 22/27 | €72,029 | €97,656 | +€25,627 | +35.6% |
| Furniture and vehicles | 24 | - | €16,453 | +€16,453 | |
| Leasing and similar rights | 25 | €72,029 | €81,203 | +€9,173 | +12.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €20,508 | €6,749 | -€13,760 | -67.1% |
| Amounts receivable within one year | 40/41 | €4,330 | €1,477 | -€2,853 | -65.9% |
| Trade receivables | 40 | €2,683 | €164 | -€2,518 | -93.9% |
| Other amounts receivable | 41 | €1,647 | €1,312 | -€335 | -20.3% |
| Cash at bank and in hand | 54/58 | €14,796 | €5,066 | -€9,730 | -65.8% |
| Deferred charges and accrued income | 490/1 | €1,382 | €206 | -€1,176 | -85.1% |
| Total equity and liabilities | 10/49 | €92,687 | €104,554 | +€11,867 | +12.8% |
| Equity | 10/15 | -€124,847 | -€118,418 | +€6,429 | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,247 | €56,247 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,387 | €4,387 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€199,694 | -€193,265 | +€6,429 | +3.2% |
| Amounts payable | 17/49 | €217,534 | €222,972 | +€5,438 | +2.5% |
| Amounts payable after more than one year | 17 | €119,801 | €129,816 | +€10,016 | +8.4% |
| Financial debts | 170/4 | €39,801 | €49,816 | +€10,016 | +25.2% |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €97,159 | €93,156 | -€4,003 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €8,406 | €12,699 | +€4,294 | +51.1% |
| Trade debts | 44 | €3,091 | €2,993 | -€98 | -3.2% |
| Suppliers | 440/4 | €3,091 | €2,993 | -€98 | -3.2% |
| Advances received on contracts in progress | 46 | €2,420 | - | -€2,420 | |
| Taxes, remuneration and social security | 45 | €3,581 | €3,541 | -€41 | -1.1% |
| Taxes | 450/3 | €758 | €14 | -€744 | -98.2% |
| Remuneration and social security | 454/9 | €2,823 | €3,527 | +€703 | +24.9% |
| Other amounts payable | 47/48 | €79,661 | €73,923 | -€5,738 | -7.2% |
| Accrued charges and deferred income | 492/3 | €575 | - | -€575 | |
| Remuneration, social security and pensions | 62 | €56,788 | €53,101 | -€3,687 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,574 | €15,688 | +€7,115 | +83.0% |
| Other operating charges | 640/8 | €5,387 | €4,232 | -€1,155 | -21.4% |
| Gross operating margin | 9900 | €83,188 | €84,382 | +€1,194 | +1.4% |
| Operating profit (loss) | 9901 | €12,439 | €11,360 | -€1,079 | -8.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | +114% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +114% |
| Financial charges | 65/66B | €4,195 | €4,931 | +€736 | +17.5% |
| Recurring financial charges | 65 | €4,195 | €4,931 | +€736 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €8,245 | €6,429 | -€1,815 | -22.0% |
| Income taxes | 67/77 | €120 | €0 | -€120 | -99.9% |
| Profit (loss) for the period | 9904 | €8,125 | €6,429 | -€1,696 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,125 | €6,429 | -€1,696 | -20.9% |
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 28 October 2026 via checked.be.