CARTON: 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.
CARTON
Largest movements
- Current investments +€9,198
up €9,198 (+26.9%), from €34,132 to €43,330
- Cash -€8,842
down €8,842 (-47.0%), from €18,822 to €9,980
mainly Current investments (-€9,198) and Trade debts (-€6,408)
- Stocks and contracts +€5,250
up €5,250 (+51.2%), from €10,250 to €15,500
- Receivables within one year -€2,563
down €2,563 (-12.5%), from €20,426 to €17,862
of which Other amounts receivable: -€1,965
- Tangible fixed assets -€1,761
down €1,761 (-12.6%), from €13,980 to €12,219
of which Furniture and vehicles: -€1,976
- Tax, wage and social debts +€6,461
up €6,461 (+250%), from €2,584 to €9,045
- Trade debts -€6,408
down €6,408 (-34.8%), from €18,436 to €12,028
- Other debts -€4,320
down €4,320 (-66.4%), from €6,506 to €2,186
- Reserves +€3,500
up €3,500 (+6.4%), from €54,340 to €57,840
- Profit (loss) carried forward +€2,754
up €2,754, from -€2,572 to €182
- Gross operating margin +€16,121
up €16,121 (+572%), from €2,820 to €18,941
- Taxes +€6,234
up €6,234, from -€4,878 to €1,357
- Staff costs +€431
no longer reported in 2025 (was -€431)
- Other operating charges +€286
up €286 (+6.3%), from €4,507 to €4,793
- Depreciation +€272
up €272 (+4.4%), from €6,238 to €6,510
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 | €98,295 | €100,281 | +€1,987 | +2.0% |
| Fixed assets | 21/28 | €13,980 | €12,219 | -€1,761 | -12.6% |
| Tangible fixed assets | 22/27 | €13,980 | €12,219 | -€1,761 | -12.6% |
| Plant, machinery and equipment | 23 | €10,338 | €10,553 | +€215 | +2.1% |
| Furniture and vehicles | 24 | €3,642 | €1,666 | -€1,976 | -54.3% |
| Current assets | 29/58 | €84,315 | €88,063 | +€3,748 | +4.4% |
| Stocks and contracts in progress | 3 | €10,250 | €15,500 | +€5,250 | +51.2% |
| Stocks | 30/36 | €10,250 | €15,500 | +€5,250 | +51.2% |
| Amounts receivable within one year | 40/41 | €20,426 | €17,862 | -€2,563 | -12.5% |
| Trade receivables | 40 | €12,431 | €11,833 | -€598 | -4.8% |
| Other amounts receivable | 41 | €7,994 | €6,029 | -€1,965 | -24.6% |
| Current investments | 50/53 | €34,132 | €43,330 | +€9,198 | +26.9% |
| Cash at bank and in hand | 54/58 | €18,822 | €9,980 | -€8,842 | -47.0% |
| Deferred charges and accrued income | 490/1 | €685 | €1,390 | +€705 | +103% |
| Total equity and liabilities | 10/49 | €98,295 | €100,281 | +€1,987 | +2.0% |
| Equity | 10/15 | €70,768 | €77,022 | +€6,254 | +8.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €54,340 | €57,840 | +€3,500 | +6.4% |
| Distributable reserves | 133 | €54,340 | €57,840 | +€3,500 | +6.4% |
| Profit (loss) carried forward | 14 | -€2,572 | €182 | +€2,754 | |
| Amounts payable | 17/49 | €27,526 | €23,259 | -€4,267 | -15.5% |
| Amounts payable within one year | 42/48 | €27,526 | €23,259 | -€4,267 | -15.5% |
| Trade debts | 44 | €18,436 | €12,028 | -€6,408 | -34.8% |
| Suppliers | 440/4 | €18,436 | €12,028 | -€6,408 | -34.8% |
| Taxes, remuneration and social security | 45 | €2,584 | €9,045 | +€6,461 | +250% |
| Taxes | 450/3 | €2,584 | €9,045 | +€6,461 | +250% |
| Other amounts payable | 47/48 | €6,506 | €2,186 | -€4,320 | -66.4% |
| Remuneration, social security and pensions | 62 | -€431 | - | +€431 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,238 | €6,510 | +€272 | +4.4% |
| Other operating charges | 640/8 | €4,507 | €4,793 | +€286 | +6.3% |
| Non-recurring operating charges | 66A | €157 | - | -€157 | |
| Gross operating margin | 9900 | €2,820 | €18,941 | +€16,121 | +572% |
| Operating profit (loss) | 9901 | -€7,650 | €7,639 | +€15,289 | |
| Financial income | 75/76B | €147 | €360 | +€213 | +145% |
| Recurring financial income | 75 | €147 | €360 | +€213 | +145% |
| Financial charges | 65/66B | €440 | €388 | -€52 | -11.7% |
| Recurring financial charges | 65 | €440 | €388 | -€52 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,943 | €7,611 | +€15,553 | |
| Income taxes | 67/77 | -€4,878 | €1,357 | +€6,234 | |
| Profit (loss) for the period | 9904 | -€3,065 | €6,254 | +€9,319 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,065 | €6,254 | +€9,319 |
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 19 October 2026 via checked.be.