IMMO CARSTE: 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.
IMMO CARSTE
Largest movements
- Tangible fixed assets -€819,031
down €819,031 (-30.6%), from €2.7m to €1.9m
of which Land and buildings: -€832,928
- Cash +€104,839
up €104,839 (+62.2%), from €168,675 to €273,513
mainly Investment in fixed assets (net) (+€740,313) and Net result for the year (+€164,308)
- Short-term financial debts -€825,508
no longer reported in 2025 (was €825,508)
- Profit (loss) carried forward +€164,308
up €164,308 (+39.2%), from €418,637 to €582,945
- Other debts +€45,601
up €45,601 (+5.6%), from €812,280 to €857,882
- Debts after one year -€31,258
down €31,258 (-10.3%), from €302,767 to €271,509
- Tax, wage and social debts -€29,957
down €29,957 (-14.9%), from €200,881 to €170,924
of which Taxes: -€21,268
- Gross operating margin -€285,393
down €285,393 (-43.4%), from €656,988 to €371,596
- Taxes -€46,683
down €46,683 (-60.3%), from €77,361 to €30,678
- Financial charges -€22,365
down €22,365 (-18.6%), from €120,257 to €97,892
- Depreciation -€14,553
down €14,553 (-15.6%), from €93,271 to €78,718
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 | €2,886,786 | €2,188,617 | -€698,169 | -24.2% |
| Fixed assets | 21/28 | €2,680,627 | €1,861,596 | -€819,031 | -30.6% |
| Tangible fixed assets | 22/27 | €2,680,627 | €1,861,596 | -€819,031 | -30.6% |
| Land and buildings | 22 | €2,680,627 | €1,847,699 | -€832,928 | -31.1% |
| Plant, machinery and equipment | 23 | - | €13,898 | +€13,898 | |
| Current assets | 29/58 | €206,159 | €327,021 | +€120,862 | +58.6% |
| Amounts receivable within one year | 40/41 | €37,484 | €53,507 | +€16,023 | +42.7% |
| Trade receivables | 40 | €37,484 | €53,507 | +€16,023 | +42.7% |
| Cash at bank and in hand | 54/58 | €168,675 | €273,513 | +€104,839 | +62.2% |
| Total equity and liabilities | 10/49 | €2,886,786 | €2,188,617 | -€698,169 | -24.2% |
| Equity | 10/15 | €618,637 | €782,945 | +€164,308 | +26.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €418,637 | €582,945 | +€164,308 | +39.2% |
| Amounts payable | 17/49 | €2,268,149 | €1,405,672 | -€862,477 | -38.0% |
| Amounts payable after more than one year | 17 | €302,767 | €271,509 | -€31,258 | -10.3% |
| Financial debts | 170/4 | €302,767 | €271,509 | -€31,258 | -10.3% |
| Amounts payable within one year | 42/48 | €1,900,237 | €1,091,646 | -€808,590 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €30,127 | €31,258 | +€1,131 | +3.8% |
| Financial debts | 43 | €825,508 | - | -€825,508 | |
| Other loans | 439 | €825,508 | - | -€825,508 | |
| Trade debts | 44 | €23,240 | €23,383 | +€143 | +0.6% |
| Suppliers | 440/4 | €23,240 | €23,383 | +€143 | +0.6% |
| Advances received on contracts in progress | 46 | €8,200 | €8,200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €200,881 | €170,924 | -€29,957 | -14.9% |
| Taxes | 450/3 | €192,192 | €170,924 | -€21,268 | -11.1% |
| Remuneration and social security | 454/9 | €8,689 | - | -€8,689 | |
| Other amounts payable | 47/48 | €812,280 | €857,882 | +€45,601 | +5.6% |
| Accrued charges and deferred income | 492/3 | €65,145 | €42,517 | -€22,628 | -34.7% |
| Non-recurring operating income | 76A | €504,703 | €179,937 | -€324,766 | -64.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,271 | €78,718 | -€14,553 | -15.6% |
| Gross operating margin | 9900 | €656,988 | €371,596 | -€285,393 | -43.4% |
| Operating profit (loss) | 9901 | €563,717 | €292,878 | -€270,840 | -48.0% |
| Financial charges | 65/66B | €120,257 | €97,892 | -€22,365 | -18.6% |
| Recurring financial charges | 65 | €120,257 | €97,892 | -€22,365 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €443,460 | €194,986 | -€248,475 | -56.0% |
| Income taxes | 67/77 | €77,361 | €30,678 | -€46,683 | -60.3% |
| Profit (loss) for the period | 9904 | €366,099 | €164,308 | -€201,792 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €366,099 | €164,308 | -€201,792 | -55.1% |
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 26 October 2026 via checked.be.