CARTARGO: 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.
What changed
CARTARGO
NACE 68.321, Property management for co-owned buildings (syndics)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€513,371
2024 · €498,399+€14,972
Equity
€4.0m
2024 · €3.5m+€513,371
Cash
€291,984
2024 · €59,845+€232,138
Balance sheet total
€5.4m
2024 · €5.2m+€136,485
Largest movements
Assets
- Cash +€232,138
up €232,138 (+388%), from €59,845 to €291,984
mainly Net result for the year (+€513,371) and Depreciation (+€263,844)
- Tangible fixed assets -€151,527
down €151,527 (-3.1%), from €4.9m to €4.8m
of which Land and buildings: -€188,242
- Receivables within one year +€65,878
up €65,878 (+26.9%), from €245,252 to €311,130
of which Trade receivables: +€133,003
Equity and liabilities
- Reserves +€513,371
up €513,371 (+15.7%), from €3.3m to €3.8m
of which Distributable reserves: +€513,371
- Debts after one year -€432,950
down €432,950 (-36.5%), from €1.2m to €754,636
of which Financial debts: -€432,950
Income statement
- Turnover +€143,733
up €143,733 (+10.8%), from €1.3m to €1.5m
- Staff costs +€112,162
up €112,162 (+65.6%), from €170,880 to €283,042
- Write-downs +€75,030
up €75,030, from -€75,030 to €0
- Other operating charges -€71,039
down €71,039 (-46.1%), from €154,219 to €83,180
- Services and other goods -€27,283
down €27,283 (-16.7%), from €163,620 to €136,337
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.
Result 2024
€498,399
Turnover
+€143,733
Other operating income
+€819
Services and other goods
+€27,283
Staff costs
-€112,162
Depreciation
+€3,508
Write-downs
-€75,030
Other operating charges
+€71,039
Other operating items
-€45,187
Financial income
-€429
Financial charges
+€17,789
Taxes
-€16,391
Result 2025
€513,371
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€763,994
Investment
-€112,318
Financing
-€419,538
Cash 2024
€59,845
From operations (derived)
+€763,994
Net result for the year
+€513,371
Depreciation
+€263,844
Receivables within one year
-€65,878
Deferred charges and accrued income
+€10,005
Trade debts
-€5,095
Tax, wage and social debts
+€24,447
Other debts
+€10,075
Accrued charges and deferred income
+€13,225
Investment (derived)
-€112,318
Investment in fixed assets (net)
-€112,318
Financing
-€419,538
Debts after one year
-€432,950
Current portion of long-term debt
+€13,412
Cash 2025
€291,984
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,241,299 | €5,377,784 | +€136,485 | +2.6% |
| Fixed assets | 21/28 | €4,918,330 | €4,766,804 | -€151,527 | -3.1% |
| Tangible fixed assets | 22/27 | €4,918,330 | €4,766,804 | -€151,527 | -3.1% |
| Land and buildings | 22 | €4,880,720 | €4,692,478 | -€188,242 | -3.9% |
| Plant, machinery and equipment | 23 | €37,610 | €74,325 | +€36,715 | +97.6% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €322,969 | €610,981 | +€288,012 | +89.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €245,252 | €311,130 | +€65,878 | +26.9% |
| Trade receivables | 40 | €175,065 | €308,068 | +€133,003 | +76.0% |
| Other amounts receivable | 41 | €70,186 | €3,062 | -€67,124 | -95.6% |
| Cash at bank and in hand | 54/58 | €59,845 | €291,984 | +€232,138 | +388% |
| Deferred charges and accrued income | 490/1 | €17,871 | €7,867 | -€10,005 | -56.0% |
| Total equity and liabilities | 10/49 | €5,241,299 | €5,377,784 | +€136,485 | +2.6% |
| Equity | 10/15 | €3,476,959 | €3,990,329 | +€513,371 | +14.8% |
| Contributions | 10/11 | €198,000 | €198,000 | = | 0.0% |
| Capital | 10 | €198,000 | €198,000 | = | 0.0% |
| Issued capital | 100 | €198,000 | €198,000 | = | 0.0% |
| Reserves | 13 | €3,278,959 | €3,792,329 | +€513,371 | +15.7% |
| Non-distributable reserves | 130/1 | €19,800 | €19,800 | = | 0.0% |
| Legal reserve | 130 | €19,800 | €19,800 | = | 0.0% |
| Distributable reserves | 133 | €3,259,159 | €3,772,529 | +€513,371 | +15.8% |
| Provisions and deferred taxes | 16 | €9,575 | €9,575 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,575 | €9,575 | = | 0.0% |
| Major repairs and maintenance | 162 | €9,575 | €9,575 | = | 0.0% |
| Amounts payable | 17/49 | €1,754,765 | €1,377,880 | -€376,885 | -21.5% |
| Amounts payable after more than one year | 17 | €1,187,586 | €754,636 | -€432,950 | -36.5% |
| Financial debts | 170/4 | €1,187,586 | €754,636 | -€432,950 | -36.5% |
| Credit institutions | 173 | €1,187,586 | €754,636 | -€432,950 | -36.5% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €499,108 | €541,947 | +€42,839 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €419,538 | €432,950 | +€13,412 | +3.2% |
| Trade debts | 44 | €39,101 | €34,007 | -€5,095 | -13.0% |
| Suppliers | 440/4 | €39,101 | €34,007 | -€5,095 | -13.0% |
| Taxes, remuneration and social security | 45 | €20,186 | €44,632 | +€24,447 | +121% |
| Taxes | 450/3 | €1,634 | €7,921 | +€6,286 | +385% |
| Remuneration and social security | 454/9 | €18,551 | €36,712 | +€18,160 | +97.9% |
| Other amounts payable | 47/48 | €20,283 | €30,358 | +€10,075 | +49.7% |
| Accrued charges and deferred income | 492/3 | €68,072 | €81,297 | +€13,225 | +19.4% |
| Operating income | 70/76A | €1,395,942 | €1,495,306 | +€99,364 | +7.1% |
| Turnover | 70 | €1,335,697 | €1,479,429 | +€143,733 | +10.8% |
| Other operating income | 74 | €15,058 | €15,877 | +€819 | +5.4% |
| Non-recurring operating income | 76A | €45,187 | €0 | -€45,187 | -100% |
| Operating charges | 60/66A | €681,042 | €766,403 | +€85,361 | +12.5% |
| Services and other goods | 61 | €163,620 | €136,337 | -€27,283 | -16.7% |
| Remuneration, social security and pensions | 62 | €170,880 | €283,042 | +€112,162 | +65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €267,353 | €263,844 | -€3,508 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€75,030 | €0 | +€75,030 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €154,219 | €83,180 | -€71,039 | -46.1% |
| Operating profit (loss) | 9901 | €714,901 | €728,903 | +€14,003 | +2.0% |
| Financial income | 75/76B | €1,318 | €890 | -€429 | -32.5% |
| Recurring financial income | 75 | €1,318 | €890 | -€429 | -32.5% |
| Income from current assets | 751 | €1,316 | €887 | -€429 | -32.6% |
| Other financial income | 752/9 | €3 | €3 | +€0 | +18.0% |
| Financial charges | 65/66B | €56,882 | €39,093 | -€17,789 | -31.3% |
| Recurring financial charges | 65 | €56,882 | €39,093 | -€17,789 | -31.3% |
| Debt charges | 650 | €56,218 | €38,426 | -€17,792 | -31.6% |
| Other financial charges | 652/9 | €665 | €667 | +€3 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €659,337 | €690,700 | +€31,363 | +4.8% |
| Income taxes | 67/77 | €160,938 | €177,329 | +€16,391 | +10.2% |
| Taxes | 670/3 | €164,674 | €184,340 | +€19,666 | +11.9% |
| Tax adjustments and reversals of tax provisions | 77 | €3,736 | €7,011 | +€3,275 | +87.7% |
| Profit (loss) for the period | 9904 | €498,399 | €513,371 | +€14,972 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €498,399 | €513,371 | +€14,972 | +3.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.