CARROL: 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.
CARROL
Largest movements
- Receivables within one year +€57,099
up €57,099 (+6.6%), from €859,183 to €916,282
- Tangible fixed assets -€27,785
down €27,785 (-6.8%), from €407,870 to €380,085
of which Land and buildings: -€27,785
- Cash -€16,214
down €16,214 (-51.8%), from €31,307 to €15,093
mainly Receivables within one year (-€57,099) and Provisions (-€24,272)
- Profit (loss) carried forward +€80,176
up €80,176, from -€79,792 to €384
- Reserves -€51,815
down €51,815 (-4.1%), from €1.3m to €1.2m
of which Tax-exempt reserves: -€72,815
- Provisions -€24,272
no longer reported in 2025 (was €24,272)
- Gross operating margin -€11,588
down €11,588 (-18.3%), from €63,383 to €51,796
- Taxes +€9,017
new in 2025: €9,017
- Depreciation -€6,649
down €6,649 (-19.3%), from €34,434 to €27,785
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 | €1,300,314 | €1,313,500 | +€13,186 | +1.0% |
| Fixed assets | 21/28 | €407,870 | €380,085 | -€27,785 | -6.8% |
| Tangible fixed assets | 22/27 | €407,870 | €380,085 | -€27,785 | -6.8% |
| Land and buildings | 22 | €407,870 | €380,085 | -€27,785 | -6.8% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €892,444 | €933,415 | +€40,971 | +4.6% |
| Amounts receivable within one year | 40/41 | €859,183 | €916,282 | +€57,099 | +6.6% |
| Other amounts receivable | 41 | €859,183 | €916,282 | +€57,099 | +6.6% |
| Cash at bank and in hand | 54/58 | €31,307 | €15,093 | -€16,214 | -51.8% |
| Deferred charges and accrued income | 490/1 | €1,953 | €2,040 | +€87 | +4.5% |
| Total equity and liabilities | 10/49 | €1,300,314 | €1,313,500 | +€13,186 | +1.0% |
| Equity | 10/15 | €1,272,231 | €1,300,592 | +€28,361 | +2.2% |
| Contributions | 10/11 | €80,600 | €80,600 | = | 0.0% |
| Capital | 10 | €80,600 | €80,600 | = | 0.0% |
| Issued capital | 100 | €80,600 | €80,600 | = | 0.0% |
| Reserves | 13 | €1,271,423 | €1,219,608 | -€51,815 | -4.1% |
| Non-distributable reserves | 130/1 | €8,060 | €8,060 | = | 0.0% |
| Legal reserve | 130 | €8,060 | €8,060 | = | 0.0% |
| Tax-exempt reserves | 132 | €73,089 | €274 | -€72,815 | -99.6% |
| Distributable reserves | 133 | €1,190,274 | €1,211,274 | +€21,000 | +1.8% |
| Profit (loss) carried forward | 14 | -€79,792 | €384 | +€80,176 | |
| Provisions and deferred taxes | 16 | €24,272 | - | -€24,272 | |
| Deferred taxes | 168 | €24,272 | - | -€24,272 | |
| Amounts payable | 17/49 | €3,811 | €12,908 | +€9,097 | +239% |
| Amounts payable within one year | 42/48 | €2,571 | €11,668 | +€9,097 | +354% |
| Trade debts | 44 | €2,571 | €2,652 | +€80 | +3.1% |
| Suppliers | 440/4 | €2,571 | €2,652 | +€80 | +3.1% |
| Taxes, remuneration and social security | 45 | - | €9,017 | +€9,017 | |
| Taxes | 450/3 | - | €9,017 | +€9,017 | |
| Accrued charges and deferred income | 492/3 | €1,240 | €1,240 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,434 | €27,785 | -€6,649 | -19.3% |
| Other operating charges | 640/8 | €12,954 | €13,090 | +€137 | +1.1% |
| Non-recurring operating charges | 66A | - | €280 | +€280 | |
| Gross operating margin | 9900 | €63,383 | €51,796 | -€11,588 | -18.3% |
| Operating profit (loss) | 9901 | €15,996 | €10,641 | -€5,355 | -33.5% |
| Financial income | 75/76B | €2,654 | €2,810 | +€156 | +5.9% |
| Recurring financial income | 75 | €2,654 | €2,810 | +€156 | +5.9% |
| Financial charges | 65/66B | €426 | €345 | -€81 | -19.0% |
| Recurring financial charges | 65 | €426 | €345 | -€81 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €18,225 | €13,106 | -€5,119 | -28.1% |
| Transfer from deferred taxes | 780 | €181 | €24,272 | +€24,090 | +13,293% |
| Income taxes | 67/77 | - | €9,017 | +€9,017 | |
| Profit (loss) for the period | 9904 | €18,406 | €28,361 | +€9,955 | +54.1% |
| Transfer from tax-exempt reserves | 789 | €544 | €72,815 | +€72,271 | +13,293% |
| Profit (loss) for the period to be appropriated | 9905 | €18,950 | €101,176 | +€82,226 | +434% |
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 15 October 2026 via checked.be.