D. CARROLL: 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.
D. CARROLL
Largest movements
- Receivables within one year -€113,204
down €113,204 (-78.3%), from €144,508 to €31,304
of which Trade receivables: -€128,920
- Financial fixed assets +€25,764
new in 2025: €25,764
- Other debts -€274,569
down €274,569 (-99.6%), from €275,728 to €1,160
- Reserves +€200,456
new in 2025: €200,456
- Tax, wage and social debts -€94,916
no longer reported in 2025 (was €94,916)
of which Taxes: -€92,166
- Trade debts +€53,397
up €53,397 (+3,018%), from €1,769 to €55,166
- Accrued charges and deferred income +€29,676
up €29,676 (+2,968%), from €1,000 to €30,676
- Gross operating margin +€117,975
up €117,975 (+27.8%), from €424,536 to €542,511
- Taxes +€47,041
up €47,041 (+45.1%), from €104,286 to €151,326
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 | €383,413 | €297,459 | -€85,955 | -22.4% |
| Fixed assets | 21/28 | €172 | €26,738 | +€26,566 | +15,443% |
| Tangible fixed assets | 22/27 | €172 | €974 | +€802 | +466% |
| Plant, machinery and equipment | 23 | €172 | €974 | +€802 | +466% |
| Financial fixed assets | 28 | - | €25,764 | +€25,764 | |
| Current assets | 29/58 | €383,241 | €270,721 | -€112,521 | -29.4% |
| Amounts receivable within one year | 40/41 | €144,508 | €31,304 | -€113,204 | -78.3% |
| Trade receivables | 40 | €129,376 | €456 | -€128,920 | -99.6% |
| Other amounts receivable | 41 | €15,132 | €30,849 | +€15,716 | +104% |
| Cash at bank and in hand | 54/58 | €238,733 | €239,416 | +€683 | +0.3% |
| Total equity and liabilities | 10/49 | €383,413 | €297,459 | -€85,955 | -22.4% |
| Equity | 10/15 | €10,000 | €210,456 | +€200,456 | +2,005% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €200,456 | +€200,456 | |
| Distributable reserves | 133 | - | €200,456 | +€200,456 | |
| Amounts payable | 17/49 | €373,413 | €87,003 | -€286,411 | -76.7% |
| Amounts payable within one year | 42/48 | €372,413 | €56,326 | -€316,087 | -84.9% |
| Trade debts | 44 | €1,769 | €55,166 | +€53,397 | +3,018% |
| Suppliers | 440/4 | €1,769 | €55,166 | +€53,397 | +3,018% |
| Taxes, remuneration and social security | 45 | €94,916 | - | -€94,916 | |
| Taxes | 450/3 | €92,166 | - | -€92,166 | |
| Remuneration and social security | 454/9 | €2,750 | - | -€2,750 | |
| Other amounts payable | 47/48 | €275,728 | €1,160 | -€274,569 | -99.6% |
| Accrued charges and deferred income | 492/3 | €1,000 | €30,676 | +€29,676 | +2,968% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €483 | €634 | +€151 | +31.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €424,536 | €542,511 | +€117,975 | +27.8% |
| Operating profit (loss) | 9901 | €423,666 | €541,478 | +€117,812 | +27.8% |
| Financial income | 75/76B | - | €486 | +€486 | |
| Recurring financial income | 75 | - | €486 | +€486 | |
| Financial charges | 65/66B | €180 | €181 | +€1 | +0.5% |
| Recurring financial charges | 65 | €180 | €181 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €423,486 | €541,782 | +€118,296 | +27.9% |
| Income taxes | 67/77 | €104,286 | €151,326 | +€47,041 | +45.1% |
| Profit (loss) for the period | 9904 | €319,200 | €390,456 | +€71,256 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €319,200 | €390,456 | +€71,256 | +22.3% |
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.