CARTELLINO: 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.
CARTELLINO
Largest movements
- Stocks and contracts +€9,509
up €9,509 (+3.3%), from €284,152 to €293,661
- Receivables within one year +€7,831
up €7,831 (+14.4%), from €54,283 to €62,115
of which Trade receivables: +€8,013
- Tangible fixed assets -€7,130
down €7,130 (-21.0%), from €33,933 to €26,803
of which Furniture and vehicles: -€5,464
- Cash -€5,853
down €5,853 (-15.3%), from €38,277 to €32,424
mainly Stocks and contracts (-€9,509) and Receivables within one year (-€7,831)
- Trade debts +€13,331
up €13,331 (+13.2%), from €101,341 to €114,671
- Other debts -€6,981
down €6,981 (-4.2%), from €165,952 to €158,971
- Profit (loss) carried forward -€5,786
down €5,786 (-16.5%), from €35,138 to €29,352
- Gross operating margin -€11,624
down €11,624 (-26.8%), from €43,309 to €31,685
- Staff costs +€2,343
up €2,343 (+8.6%), from €27,373 to €29,716
- Other operating charges -€504
down €504 (-73.4%), from €687 to €183
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 | €411,374 | €415,431 | +€4,057 | +1.0% |
| Fixed assets | 21/28 | €34,362 | €27,232 | -€7,130 | -20.7% |
| Tangible fixed assets | 22/27 | €33,933 | €26,803 | -€7,130 | -21.0% |
| Furniture and vehicles | 24 | €21,716 | €16,251 | -€5,464 | -25.2% |
| Other tangible fixed assets | 26 | €12,217 | €10,552 | -€1,665 | -13.6% |
| Financial fixed assets | 28 | €429 | €429 | = | 0.0% |
| Current assets | 29/58 | €377,012 | €388,199 | +€11,187 | +3.0% |
| Stocks and contracts in progress | 3 | €284,152 | €293,661 | +€9,509 | +3.3% |
| Stocks | 30/36 | €284,152 | €293,661 | +€9,509 | +3.3% |
| Amounts receivable within one year | 40/41 | €54,283 | €62,115 | +€7,831 | +14.4% |
| Trade receivables | 40 | €48,068 | €56,081 | +€8,013 | +16.7% |
| Other amounts receivable | 41 | €6,215 | €6,034 | -€182 | -2.9% |
| Cash at bank and in hand | 54/58 | €38,277 | €32,424 | -€5,853 | -15.3% |
| Deferred charges and accrued income | 490/1 | €300 | €0 | -€300 | -100% |
| Total equity and liabilities | 10/49 | €411,374 | €415,431 | +€4,057 | +1.0% |
| Equity | 10/15 | €55,598 | €49,812 | -€5,786 | -10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,138 | €29,352 | -€5,786 | -16.5% |
| Amounts payable | 17/49 | €355,776 | €365,619 | +€9,844 | +2.8% |
| Amounts payable after more than one year | 17 | €80,184 | €80,184 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €80,184 | €80,184 | = | 0.0% |
| Amounts payable within one year | 42/48 | €275,592 | €285,436 | +€9,844 | +3.6% |
| Trade debts | 44 | €101,341 | €114,671 | +€13,331 | +13.2% |
| Suppliers | 440/4 | €101,341 | €114,671 | +€13,331 | +13.2% |
| Taxes, remuneration and social security | 45 | €8,300 | €11,794 | +€3,494 | +42.1% |
| Taxes | 450/3 | €1,407 | €2,138 | +€731 | +51.9% |
| Remuneration and social security | 454/9 | €6,893 | €9,656 | +€2,763 | +40.1% |
| Other amounts payable | 47/48 | €165,952 | €158,971 | -€6,981 | -4.2% |
| Remuneration, social security and pensions | 62 | €27,373 | €29,716 | +€2,343 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,297 | €7,130 | -€168 | -2.3% |
| Other operating charges | 640/8 | €687 | €183 | -€504 | -73.4% |
| Gross operating margin | 9900 | €43,309 | €31,685 | -€11,624 | -26.8% |
| Operating profit (loss) | 9901 | €7,951 | -€5,344 | -€13,295 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €468 | €201 | -€267 | -57.1% |
| Recurring financial charges | 65 | €468 | €201 | -€267 | -57.1% |
| Profit (loss) for the period before taxes | 9903 | €7,483 | -€5,544 | -€13,027 | |
| Income taxes | 67/77 | €231 | €242 | +€11 | +4.6% |
| Profit (loss) for the period | 9904 | €7,252 | -€5,786 | -€13,038 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,252 | -€5,786 | -€13,038 |
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 27 October 2026 via checked.be.