Cartec: what changed
Two fiscal 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.
Cartec
Largest movements
- Receivables within one year +€214,253
up €214,253 (+34.0%), from €630,887 to €845,140
- Tangible fixed assets -€126,305
down €126,305 (-10.9%), from €1.2m to €1.0m
of which Plant, machinery and equipment: -€65,551
- Cash -€100,825
down €100,825 (-19.6%), from €515,726 to €414,901
mainly Other debts (-€343,772) and Receivables within one year (-€214,253)
- Stocks and contracts -€63,349
down €63,349 (-8.3%), from €762,776 to €699,427
- Other debts -€343,772
down €343,772 (-20.9%), from €1.6m to €1.3m
- Profit (loss) carried forward +€324,683
up €324,683 (+73.4%), from €442,063 to €766,746
- Trade debts -€213,691
down €213,691 (-41.6%), from €513,806 to €300,115
- Tax, wage and social debts +€155,273
up €155,273 (+117.0%), from €132,708 to €287,981
of which Taxes: +€156,937
- Gross operating margin +€373,700
up €373,700 (+31.3%), from €1.2m to €1.6m
- Taxes +€117,228
up €117,228 (+4148.0%), from €2,826 to €120,054
- Write-downs -€39,001
down €39,001, from €32,143 to -€6,859
- Staff costs -€30,428
down €30,428 (-3.1%), from €980,051 to €949,623
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.
Cash bridge derived
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 | €3,089,568 | €3,012,061 | -€77,507 | -2.5% |
| Fixed assets | 21/28 | €1,159,042 | €1,030,651 | -€128,390 | -11.1% |
| Intangible fixed assets | 21 | €2,085 | - | -€2,085 | |
| Tangible fixed assets | 22/27 | €1,155,861 | €1,029,556 | -€126,305 | -10.9% |
| Land and buildings | 22 | €931,616 | €878,620 | -€52,995 | -5.7% |
| Plant, machinery and equipment | 23 | €194,377 | €128,826 | -€65,551 | -33.7% |
| Furniture and vehicles | 24 | €29,868 | €22,110 | -€7,758 | -26.0% |
| Financial fixed assets | 28 | €1,095 | €1,095 | = | 0.0% |
| Current assets | 29/58 | €1,930,526 | €1,981,410 | +€50,884 | +2.6% |
| Stocks and contracts in progress | 3 | €762,776 | €699,427 | -€63,349 | -8.3% |
| Stocks | 30/36 | €762,776 | €699,427 | -€63,349 | -8.3% |
| Amounts receivable within one year | 40/41 | €630,887 | €845,140 | +€214,253 | +34.0% |
| Trade receivables | 40 | €630,887 | €845,140 | +€214,253 | +34.0% |
| Cash at bank and in hand | 54/58 | €515,726 | €414,901 | -€100,825 | -19.6% |
| Deferred charges and accrued income | 490/1 | €21,139 | €21,943 | +€804 | +3.8% |
| Total equity and liabilities | 10/49 | €3,089,568 | €3,012,061 | -€77,507 | -2.5% |
| Equity | 10/15 | €794,282 | €1,118,965 | +€324,683 | +40.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €290,220 | €290,220 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,020 | €21,020 | = | 0.0% |
| Distributable reserves | 133 | €263,000 | €263,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €442,063 | €766,746 | +€324,683 | +73.4% |
| Amounts payable | 17/49 | €2,295,286 | €1,893,096 | -€402,190 | -17.5% |
| Amounts payable within one year | 42/48 | €2,295,286 | €1,893,096 | -€402,190 | -17.5% |
| Trade debts | 44 | €513,806 | €300,115 | -€213,691 | -41.6% |
| Suppliers | 440/4 | €513,806 | €300,115 | -€213,691 | -41.6% |
| Taxes, remuneration and social security | 45 | €132,708 | €287,981 | +€155,273 | +117.0% |
| Taxes | 450/3 | €41,473 | €198,411 | +€156,937 | +378.4% |
| Remuneration and social security | 454/9 | €91,235 | €89,570 | -€1,665 | -1.8% |
| Other amounts payable | 47/48 | €1,648,772 | €1,305,000 | -€343,772 | -20.9% |
| Remuneration, social security and pensions | 62 | €980,051 | €949,623 | -€30,428 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,131 | €139,893 | +€2,763 | +2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,143 | -€6,859 | -€39,001 | |
| Other operating charges | 640/8 | €30,922 | €31,872 | +€950 | +3.1% |
| Gross operating margin | 9900 | €1,194,094 | €1,567,794 | +€373,700 | +31.3% |
| Operating profit (loss) | 9901 | €13,848 | €453,264 | +€439,417 | +3173.2% |
| Financial income | 75/76B | €137 | €923 | +€785 | +571.0% |
| Recurring financial income | 75 | €137 | €923 | +€785 | +571.0% |
| Financial charges | 65/66B | €8,343 | €9,449 | +€1,107 | +13.3% |
| Recurring financial charges | 65 | €8,343 | €9,449 | +€1,107 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €5,642 | €444,737 | +€439,095 | +7782.2% |
| Income taxes | 67/77 | €2,826 | €120,054 | +€117,228 | +4148.0% |
| Profit (loss) for the period | 9904 | €2,816 | €324,683 | +€321,867 | +11429.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,816 | €324,683 | +€321,867 | +11429.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.