CARSAN: 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.
CARSAN
Largest movements
- Cash +€21,692
up €21,692 (+800%), from €2,710 to €24,402
mainly Net result for the year (+€19,761) and Depreciation (+€11,061)
- Tangible fixed assets -€11,061
down €11,061 (-4.6%), from €239,352 to €228,291
of which Land and buildings: -€6,595
- Reserves +€19,761
up €19,761 (+16.0%), from €123,212 to €142,973
of which Distributable reserves: +€19,761
- Short-term financial debts -€10,000
down €10,000 (-8.2%), from €122,500 to €112,500
- Gross operating margin +€7,672
up €7,672 (+17.2%), from €44,648 to €52,321
- Depreciation -€5,148
down €5,148 (-31.8%), from €16,209 to €11,061
- Financial charges +€2,561
up €2,561 (+105%), from €2,451 to €5,012
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 | €270,132 | €280,382 | +€10,251 | +3.8% |
| Fixed assets | 21/28 | €239,472 | €228,411 | -€11,061 | -4.6% |
| Tangible fixed assets | 22/27 | €239,352 | €228,291 | -€11,061 | -4.6% |
| Land and buildings | 22 | €199,511 | €192,915 | -€6,595 | -3.3% |
| Plant, machinery and equipment | 23 | €39,841 | €35,376 | -€4,466 | -11.2% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €30,660 | €51,972 | +€21,312 | +69.5% |
| Amounts receivable after more than one year | 29 | €27,570 | €27,570 | = | 0.0% |
| Other amounts receivable | 291 | €27,570 | €27,570 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,710 | €24,402 | +€21,692 | +800% |
| Deferred charges and accrued income | 490/1 | €380 | €0 | -€380 | -100% |
| Total equity and liabilities | 10/49 | €270,132 | €280,382 | +€10,251 | +3.8% |
| Equity | 10/15 | €141,804 | €161,565 | +€19,761 | +13.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €123,212 | €142,973 | +€19,761 | +16.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €10,204 | €10,204 | = | 0.0% |
| Distributable reserves | 133 | €113,009 | €132,769 | +€19,761 | +17.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €128,328 | €118,818 | -€9,510 | -7.4% |
| Amounts payable after more than one year | 17 | €1,685 | €1,325 | -€360 | -21.4% |
| Other amounts payable | 178/9 | €1,685 | €1,325 | -€360 | -21.4% |
| Amounts payable within one year | 42/48 | €126,643 | €117,493 | -€9,150 | -7.2% |
| Financial debts | 43 | €122,500 | €112,500 | -€10,000 | -8.2% |
| Credit institutions | 430/8 | €122,500 | €112,500 | -€10,000 | -8.2% |
| Trade debts | 44 | €1,873 | €1,477 | -€396 | -21.2% |
| Suppliers | 440/4 | €1,873 | €1,477 | -€396 | -21.2% |
| Taxes, remuneration and social security | 45 | €2,270 | €3,516 | +€1,246 | +54.9% |
| Remuneration and social security | 454/9 | €2,270 | €3,516 | +€1,246 | +54.9% |
| Remuneration, social security and pensions | 62 | €11,364 | €11,476 | +€112 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,209 | €11,061 | -€5,148 | -31.8% |
| Other operating charges | 640/8 | €4,868 | €5,011 | +€143 | +2.9% |
| Gross operating margin | 9900 | €44,648 | €52,321 | +€7,672 | +17.2% |
| Operating profit (loss) | 9901 | €12,208 | €24,772 | +€12,565 | +103% |
| Financial charges | 65/66B | €2,451 | €5,012 | +€2,561 | +105% |
| Recurring financial charges | 65 | €2,451 | €5,012 | +€2,561 | +105% |
| Profit (loss) for the period before taxes | 9903 | €9,757 | €19,761 | +€10,004 | +103% |
| Profit (loss) for the period | 9904 | €9,757 | €19,761 | +€10,004 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €9,757 | €19,761 | +€10,004 | +103% |
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 26 October 2026 via checked.be.