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
- Receivables within one year -€145,856
down €145,856 (-89.5%), from €162,939 to €17,083
of which Trade receivables: -€147,576
- Stocks and contracts -€18,842
down €18,842 (-9.7%), from €193,322 to €174,480
- Tangible fixed assets +€17,030
up €17,030 (+72.2%), from €23,598 to €40,628
of which Furniture and vehicles: +€15,729
- Cash +€4,940
up €4,940 (+77.1%), from €6,406 to €11,346
mainly Receivables within one year (+€145,856) and Net result for the year (+€25,157)
- Trade debts -€172,320
down €172,320 (-87.6%), from €196,688 to €24,368
- Reserves +€25,157
up €25,157 (+18.1%), from €138,795 to €163,952
- Other debts -€9,476
down €9,476 (-96.4%), from €9,826 to €350
- Debts after one year +€9,453
up €9,453 (+154%), from €6,150 to €15,603
- Write-downs -€13,446
down €13,446, from €8,547 to -€4,899
- Other operating charges +€6,916
up €6,916 (+394%), from €1,753 to €8,669
- Gross operating margin +€6,635
up €6,635 (+14.4%), from €46,008 to €52,643
- Taxes +€4,758
up €4,758 (+55.1%), from €8,632 to €13,391
- Depreciation -€1,278
down €1,278 (-13.5%), from €9,436 to €8,159
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 | €390,770 | €248,034 | -€142,736 | -36.5% |
| Fixed assets | 21/28 | €26,098 | €43,128 | +€17,030 | +65.3% |
| Tangible fixed assets | 22/27 | €23,598 | €40,628 | +€17,030 | +72.2% |
| Plant, machinery and equipment | 23 | €825 | €1,660 | +€835 | +101% |
| Furniture and vehicles | 24 | €15,599 | €31,328 | +€15,729 | +101% |
| Other tangible fixed assets | 26 | €7,174 | €7,641 | +€466 | +6.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €364,672 | €204,906 | -€159,766 | -43.8% |
| Stocks and contracts in progress | 3 | €193,322 | €174,480 | -€18,842 | -9.7% |
| Stocks | 30/36 | €193,322 | €174,480 | -€18,842 | -9.7% |
| Amounts receivable within one year | 40/41 | €162,939 | €17,083 | -€145,856 | -89.5% |
| Trade receivables | 40 | €162,939 | €15,363 | -€147,576 | -90.6% |
| Other amounts receivable | 41 | - | €1,720 | +€1,720 | |
| Cash at bank and in hand | 54/58 | €6,406 | €11,346 | +€4,940 | +77.1% |
| Deferred charges and accrued income | 490/1 | €2,005 | €1,997 | -€8 | -0.4% |
| Total equity and liabilities | 10/49 | €390,770 | €248,034 | -€142,736 | -36.5% |
| Equity | 10/15 | €151,195 | €176,352 | +€25,157 | +16.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €138,795 | €163,952 | +€25,157 | +18.1% |
| Distributable reserves | 133 | €138,795 | €163,952 | +€25,157 | +18.1% |
| Amounts payable | 17/49 | €239,575 | €71,682 | -€167,893 | -70.1% |
| Amounts payable after more than one year | 17 | €6,150 | €15,603 | +€9,453 | +154% |
| Financial debts | 170/4 | €6,150 | €15,603 | +€9,453 | +154% |
| Amounts payable within one year | 42/48 | €233,425 | €55,790 | -€177,635 | -76.1% |
| Current portion of amounts payable after more than one year | 42 | €8,982 | €11,036 | +€2,055 | +22.9% |
| Financial debts | 43 | €119 | - | -€119 | |
| Credit institutions | 430/8 | €119 | - | -€119 | |
| Trade debts | 44 | €196,688 | €24,368 | -€172,320 | -87.6% |
| Suppliers | 440/4 | €196,688 | €24,368 | -€172,320 | -87.6% |
| Taxes, remuneration and social security | 45 | €17,811 | €20,036 | +€2,225 | +12.5% |
| Taxes | 450/3 | €17,811 | €20,036 | +€2,225 | +12.5% |
| Other amounts payable | 47/48 | €9,826 | €350 | -€9,476 | -96.4% |
| Accrued charges and deferred income | 492/3 | - | €289 | +€289 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,436 | €8,159 | -€1,278 | -13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,547 | -€4,899 | -€13,446 | |
| Other operating charges | 640/8 | €1,753 | €8,669 | +€6,916 | +394% |
| Gross operating margin | 9900 | €46,008 | €52,643 | +€6,635 | +14.4% |
| Operating profit (loss) | 9901 | €26,272 | €40,715 | +€14,443 | +55.0% |
| Financial income | 75/76B | €895 | €98 | -€798 | -89.1% |
| Recurring financial income | 75 | €895 | €98 | -€798 | -89.1% |
| Financial charges | 65/66B | €1,848 | €2,265 | +€418 | +22.6% |
| Recurring financial charges | 65 | €1,848 | €2,265 | +€418 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | €25,320 | €38,548 | +€13,228 | +52.2% |
| Income taxes | 67/77 | €8,632 | €13,391 | +€4,758 | +55.1% |
| Profit (loss) for the period | 9904 | €16,688 | €25,157 | +€8,469 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,688 | €25,157 | +€8,469 | +50.8% |
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.