CARUSO: 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.
CARUSO
Largest movements
- Tangible fixed assets -€95,396
down €95,396 (-3.8%), from €2.5m to €2.4m
- Receivables within one year +€31,199
up €31,199 (+193%), from €16,200 to €47,399
of which Trade receivables: +€30,150
- Debts after one year -€208,000
down €208,000 (-15.4%), from €1.4m to €1.1m
- Tax, wage and social debts +€71,863
up €71,863 (+110%), from €65,352 to €137,216
- Reserves +€57,848
up €57,848 (+9.3%), from €618,951 to €676,799
- Other debts +€45,561
up €45,561 (+19.8%), from €229,535 to €275,096
- Gross operating margin +€7,034
up €7,034 (+1.3%), from €552,605 to €559,639
- Taxes +€6,152
up €6,152 (+5.8%), from €105,712 to €111,863
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 | €2,544,471 | €2,493,300 | -€51,172 | -2.0% |
| Fixed assets | 21/28 | €2,500,194 | €2,404,798 | -€95,396 | -3.8% |
| Tangible fixed assets | 22/27 | €2,500,194 | €2,404,798 | -€95,396 | -3.8% |
| Land and buildings | 22 | €2,500,194 | €2,404,798 | -€95,396 | -3.8% |
| Current assets | 29/58 | €44,277 | €88,502 | +€44,224 | +99.9% |
| Amounts receivable within one year | 40/41 | €16,200 | €47,399 | +€31,199 | +193% |
| Trade receivables | 40 | €16,200 | €46,350 | +€30,150 | +186% |
| Other amounts receivable | 41 | - | €1,049 | +€1,049 | |
| Cash at bank and in hand | 54/58 | €26,757 | €27,460 | +€703 | +2.6% |
| Deferred charges and accrued income | 490/1 | €1,320 | €13,643 | +€12,322 | +933% |
| Total equity and liabilities | 10/49 | €2,544,471 | €2,493,300 | -€51,172 | -2.0% |
| Equity | 10/15 | €637,551 | €695,399 | +€57,848 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €618,951 | €676,799 | +€57,848 | +9.3% |
| Distributable reserves | 133 | €618,951 | €676,799 | +€57,848 | +9.3% |
| Amounts payable | 17/49 | €1,906,920 | €1,797,900 | -€109,020 | -5.7% |
| Amounts payable after more than one year | 17 | €1,352,000 | €1,144,000 | -€208,000 | -15.4% |
| Financial debts | 170/4 | €1,352,000 | €1,144,000 | -€208,000 | -15.4% |
| Amounts payable within one year | 42/48 | €550,260 | €647,900 | +€97,641 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €231,537 | €231,476 | -€60 | 0.0% |
| Financial debts | 43 | €5,741 | €4,045 | -€1,696 | -29.5% |
| Credit institutions | 430/8 | €5,741 | €4,045 | -€1,696 | -29.5% |
| Trade debts | 44 | €18,095 | €67 | -€18,027 | -99.6% |
| Suppliers | 440/4 | €18,095 | €67 | -€18,027 | -99.6% |
| Taxes, remuneration and social security | 45 | €65,352 | €137,216 | +€71,863 | +110% |
| Taxes | 450/3 | €65,352 | €137,216 | +€71,863 | +110% |
| Other amounts payable | 47/48 | €229,535 | €275,096 | +€45,561 | +19.8% |
| Accrued charges and deferred income | 492/3 | €4,661 | €6,000 | +€1,339 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,907 | €95,396 | +€489 | +0.5% |
| Other operating charges | 640/8 | €25,128 | €23,787 | -€1,341 | -5.3% |
| Gross operating margin | 9900 | €552,605 | €559,639 | +€7,034 | +1.3% |
| Operating profit (loss) | 9901 | €432,570 | €440,456 | +€7,886 | +1.8% |
| Financial charges | 65/66B | €26,566 | €24,744 | -€1,822 | -6.9% |
| Recurring financial charges | 65 | €26,566 | €24,744 | -€1,822 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €406,004 | €415,712 | +€9,707 | +2.4% |
| Income taxes | 67/77 | €105,712 | €111,863 | +€6,152 | +5.8% |
| Profit (loss) for the period | 9904 | €300,293 | €303,848 | +€3,556 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €300,293 | €303,848 | +€3,556 | +1.2% |
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 13 October 2026 via checked.be.