CARTAL: 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.
CARTAL
Largest movements
- Cash +€9,720
up €9,720 (+148%), from €6,552 to €16,272
mainly Receivables within one year (+€4,209) and Receivables after one year (+€3,069)
- Receivables within one year -€4,209
down €4,209 (-25.9%), from €16,250 to €12,041
- Receivables after one year -€3,069
down €3,069 (-6.3%), from €48,643 to €45,574
- Reserves +€2,561
up €2,561 (+4.5%), from €56,744 to €59,305
of which Distributable reserves: +€2,561
- Financial charges -€1,385
down €1,385 (-36.3%), from €3,817 to €2,432
- Gross operating margin +€1,247
up €1,247 (+64.7%), from €1,928 to €3,175
- Financial income -€653
down €653 (-17.7%), from €3,698 to €3,045
- Taxes +€531
up €531 (+129%), from €412 to €943
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 | €106,813 | €108,990 | +€2,177 | +2.0% |
| Fixed assets | 21/28 | €2,716 | €2,526 | -€190 | -7.0% |
| Tangible fixed assets | 22/27 | €2,716 | €2,526 | -€190 | -7.0% |
| Land and buildings | 22 | €2,716 | €2,526 | -€190 | -7.0% |
| Current assets | 29/58 | €104,097 | €106,464 | +€2,367 | +2.3% |
| Amounts receivable after more than one year | 29 | €48,643 | €45,574 | -€3,069 | -6.3% |
| Other amounts receivable | 291 | €48,643 | €45,574 | -€3,069 | -6.3% |
| Stocks and contracts in progress | 3 | €32,652 | €32,577 | -€75 | -0.2% |
| Stocks | 30/36 | €32,652 | €32,577 | -€75 | -0.2% |
| Amounts receivable within one year | 40/41 | €16,250 | €12,041 | -€4,209 | -25.9% |
| Other amounts receivable | 41 | €16,250 | €12,041 | -€4,209 | -25.9% |
| Cash at bank and in hand | 54/58 | €6,552 | €16,272 | +€9,720 | +148% |
| Total equity and liabilities | 10/49 | €106,813 | €108,990 | +€2,177 | +2.0% |
| Equity | 10/15 | €75,494 | €78,055 | +€2,561 | +3.4% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €56,744 | €59,305 | +€2,561 | +4.5% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €54,869 | €57,430 | +€2,561 | +4.7% |
| Amounts payable | 17/49 | €31,319 | €30,935 | -€384 | -1.2% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 170/4 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,319 | €935 | -€384 | -29.1% |
| Trade debts | 44 | €789 | €0 | -€789 | -100% |
| Suppliers | 440/4 | €789 | €0 | -€789 | -100% |
| Taxes, remuneration and social security | 45 | €530 | €935 | +€405 | +76.4% |
| Taxes | 450/3 | €530 | €935 | +€405 | +76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189 | €189 | = | 0.0% |
| Other operating charges | 640/8 | €92 | €95 | +€3 | +3.3% |
| Gross operating margin | 9900 | €1,928 | €3,175 | +€1,247 | +64.7% |
| Operating profit (loss) | 9901 | €1,647 | €2,891 | +€1,244 | +75.5% |
| Financial income | 75/76B | €3,698 | €3,045 | -€653 | -17.7% |
| Recurring financial income | 75 | €3,698 | €3,045 | -€653 | -17.7% |
| Financial charges | 65/66B | €3,817 | €2,432 | -€1,385 | -36.3% |
| Recurring financial charges | 65 | €3,817 | €2,432 | -€1,385 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €1,528 | €3,504 | +€1,976 | +129% |
| Income taxes | 67/77 | €412 | €943 | +€531 | +129% |
| Profit (loss) for the period | 9904 | €1,116 | €2,561 | +€1,445 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €1,116 | €2,561 | +€1,445 | +129% |
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 13 October 2026 via checked.be.