CARUBIN: 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.
CARUBIN
Largest movements
- Current investments -€744,347
no longer reported in 2025 (was €744,347)
- Tangible fixed assets -€109,019
down €109,019 (-10.3%), from €1.1m to €952,657
of which Land and buildings: -€88,938
- Cash -€37,503
down €37,503 (-5.2%), from €716,112 to €678,609
mainly Contributions, distributions and other (-€1.3m) and Receivables within one year (-€32,305)
- Receivables within one year +€32,305
up €32,305 (+26.2%), from €123,131 to €155,436
- Reserves -€849,563
down €849,563 (-71.2%), from €1.2m to €343,230
of which Distributable reserves: -€830,000
- Gross operating margin +€157,059
up €157,059 (+29.5%), from €532,575 to €689,634
- Taxes +€52,679
up €52,679 (+50.3%), from €104,634 to €157,313
- Depreciation -€20,301
down €20,301 (-18.5%), from €109,574 to €89,273
- Staff costs -€17,519
down €17,519 (-28.4%), from €61,698 to €44,179
- Financial income +€14,062
up €14,062 (+41.4%), from €34,003 to €48,065
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 | €2,684,207 | €1,824,743 | -€859,464 | -32.0% |
| Fixed assets | 21/28 | €1,061,760 | €952,741 | -€109,019 | -10.3% |
| Tangible fixed assets | 22/27 | €1,061,676 | €952,657 | -€109,019 | -10.3% |
| Land and buildings | 22 | €1,040,327 | €951,389 | -€88,938 | -8.5% |
| Furniture and vehicles | 24 | €21,349 | €1,268 | -€20,081 | -94.1% |
| Financial fixed assets | 28 | €84 | €84 | = | 0.0% |
| Current assets | 29/58 | €1,622,447 | €872,002 | -€750,445 | -46.3% |
| Stocks and contracts in progress | 3 | €26,800 | €24,500 | -€2,300 | -8.6% |
| Stocks | 30/36 | €26,800 | €24,500 | -€2,300 | -8.6% |
| Amounts receivable within one year | 40/41 | €123,131 | €155,436 | +€32,305 | +26.2% |
| Trade receivables | 40 | €123,131 | €155,436 | +€32,305 | +26.2% |
| Current investments | 50/53 | €744,347 | - | -€744,347 | |
| Cash at bank and in hand | 54/58 | €716,112 | €678,609 | -€37,503 | -5.2% |
| Deferred charges and accrued income | 490/1 | €12,057 | €13,457 | +€1,400 | +11.6% |
| Total equity and liabilities | 10/49 | €2,684,207 | €1,824,743 | -€859,464 | -32.0% |
| Equity | 10/15 | €1,232,087 | €364,845 | -€867,242 | -70.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,192,793 | €343,230 | -€849,563 | -71.2% |
| Tax-exempt reserves | 132 | €267,793 | €248,230 | -€19,563 | -7.3% |
| Distributable reserves | 133 | €925,000 | €95,000 | -€830,000 | -89.7% |
| Profit (loss) carried forward | 14 | €20,694 | €3,015 | -€17,679 | -85.4% |
| Provisions and deferred taxes | 16 | €112,729 | €104,512 | -€8,217 | -7.3% |
| Deferred taxes | 168 | €112,729 | €104,512 | -€8,217 | -7.3% |
| Amounts payable | 17/49 | €1,339,391 | €1,355,386 | +€15,995 | +1.2% |
| Amounts payable within one year | 42/48 | €1,339,391 | €1,355,386 | +€15,995 | +1.2% |
| Trade debts | 44 | €6,920 | €5,328 | -€1,592 | -23.0% |
| Suppliers | 440/4 | €6,920 | €5,328 | -€1,592 | -23.0% |
| Taxes, remuneration and social security | 45 | €32,471 | €50,058 | +€17,587 | +54.2% |
| Taxes | 450/3 | €28,859 | €40,688 | +€11,829 | +41.0% |
| Remuneration and social security | 454/9 | €3,612 | €9,370 | +€5,758 | +159% |
| Other amounts payable | 47/48 | €1,300,000 | €1,300,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €5,161 | +€5,161 | |
| Remuneration, social security and pensions | 62 | €61,698 | €44,179 | -€17,519 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,574 | €89,273 | -€20,301 | -18.5% |
| Other operating charges | 640/8 | €8,897 | €9,508 | +€611 | +6.9% |
| Gross operating margin | 9900 | €532,575 | €689,634 | +€157,059 | +29.5% |
| Operating profit (loss) | 9901 | €352,406 | €546,674 | +€194,268 | +55.1% |
| Financial income | 75/76B | €34,003 | €48,065 | +€14,062 | +41.4% |
| Recurring financial income | 75 | €34,003 | €48,065 | +€14,062 | +41.4% |
| Financial charges | 65/66B | €6,874 | €12,884 | +€6,010 | +87.4% |
| Recurring financial charges | 65 | €6,874 | €12,884 | +€6,010 | +87.4% |
| Profit (loss) for the period before taxes | 9903 | €379,535 | €581,855 | +€202,320 | +53.3% |
| Transfer from deferred taxes | 780 | €8,656 | €8,217 | -€439 | -5.1% |
| Income taxes | 67/77 | €104,634 | €157,313 | +€52,679 | +50.3% |
| Profit (loss) for the period | 9904 | €283,557 | €432,759 | +€149,202 | +52.6% |
| Transfer from tax-exempt reserves | 789 | €21,132 | €19,562 | -€1,570 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €304,689 | €452,321 | +€147,632 | +48.5% |
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 16 October 2026 via checked.be.