CARTERIE SQUARE: 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.
CARTERIE SQUARE
Largest movements
- Stocks and contracts -€22,549
down €22,549 (-79.7%), from €28,277 to €5,728
- Cash +€18,992
up €18,992 (+580.4%), from €3,272 to €22,264
mainly Stocks and contracts (+€22,549) and Other debts (+€17,866)
- Receivables within one year -€3,292
down €3,292 (-98.7%), from €3,337 to €45
- Tangible fixed assets -€1,732
down €1,732 (-34.3%), from €5,056 to €3,324
- Profit (loss) carried forward -€21,669
down €21,669 (-33.7%), from -€64,303 to -€85,972
- Other debts +€17,866
up €17,866 (+91.5%), from €19,522 to €37,388
- Trade debts -€3,352
down €3,352 (-7.8%), from €42,956 to €39,604
- Tax, wage and social debts -€3,098
down €3,098 (-28.4%), from €10,907 to €7,809
of which Taxes: -€2,899
- Accrued charges and deferred income +€1,672
up €1,672 (+135.5%), from €1,234 to €2,906
- Gross operating margin -€28,355
down €28,355 (-77.5%), from €36,565 to €8,210
- Staff costs +€8,584
up €8,584 (+48.6%), from €17,660 to €26,244
- Depreciation +€1,588
up €1,588 (+1102.8%), from €144 to €1,732
- Other operating charges +€505
up €505 (+82.8%), from €610 to €1,115
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 | €40,903 | €32,322 | -€8,581 | -21.0% |
| Fixed assets | 21/28 | €6,017 | €4,285 | -€1,732 | -28.8% |
| Tangible fixed assets | 22/27 | €5,056 | €3,324 | -€1,732 | -34.3% |
| Furniture and vehicles | 24 | €5,056 | €3,324 | -€1,732 | -34.3% |
| Financial fixed assets | 28 | €961 | €961 | = | 0.0% |
| Current assets | 29/58 | €34,886 | €28,037 | -€6,849 | -19.6% |
| Stocks and contracts in progress | 3 | €28,277 | €5,728 | -€22,549 | -79.7% |
| Stocks | 30/36 | €28,277 | €5,728 | -€22,549 | -79.7% |
| Amounts receivable within one year | 40/41 | €3,337 | €45 | -€3,292 | -98.7% |
| Trade receivables | 40 | €3,337 | €45 | -€3,292 | -98.7% |
| Cash at bank and in hand | 54/58 | €3,272 | €22,264 | +€18,992 | +580.4% |
| Total equity and liabilities | 10/49 | €40,903 | €32,322 | -€8,581 | -21.0% |
| Equity | 10/15 | -€48,400 | -€70,069 | -€21,669 | -44.8% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €3,500 | €3,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,303 | -€85,972 | -€21,669 | -33.7% |
| Amounts payable | 17/49 | €89,303 | €102,391 | +€13,088 | +14.7% |
| Amounts payable after more than one year | 17 | €14,684 | €14,684 | = | 0.0% |
| Other amounts payable | 178/9 | €14,684 | €14,684 | = | 0.0% |
| Amounts payable within one year | 42/48 | €73,385 | €84,801 | +€11,416 | +15.6% |
| Trade debts | 44 | €42,956 | €39,604 | -€3,352 | -7.8% |
| Suppliers | 440/4 | €42,956 | €39,604 | -€3,352 | -7.8% |
| Taxes, remuneration and social security | 45 | €10,907 | €7,809 | -€3,098 | -28.4% |
| Taxes | 450/3 | €6,174 | €3,275 | -€2,899 | -47.0% |
| Remuneration and social security | 454/9 | €4,733 | €4,534 | -€199 | -4.2% |
| Other amounts payable | 47/48 | €19,522 | €37,388 | +€17,866 | +91.5% |
| Accrued charges and deferred income | 492/3 | €1,234 | €2,906 | +€1,672 | +135.5% |
| Remuneration, social security and pensions | 62 | €17,660 | €26,244 | +€8,584 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144 | €1,732 | +€1,588 | +1102.8% |
| Other operating charges | 640/8 | €610 | €1,115 | +€505 | +82.8% |
| Gross operating margin | 9900 | €36,565 | €8,210 | -€28,355 | -77.5% |
| Operating profit (loss) | 9901 | €18,151 | -€20,881 | -€39,032 | |
| Financial charges | 65/66B | €499 | €522 | +€23 | +4.6% |
| Recurring financial charges | 65 | €499 | €522 | +€23 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €17,652 | -€21,403 | -€39,055 | |
| Income taxes | 67/77 | €239 | €266 | +€27 | +11.3% |
| Profit (loss) for the period | 9904 | €17,413 | -€21,669 | -€39,082 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,413 | -€21,669 | -€39,082 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.