L - CARRE: 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.
L - CARRE
Largest movements
- Cash -€204,818
down €204,818 (-67.4%), from €303,882 to €99,064
mainly Debts within one year (-€188,449) and Receivables within one year (-€114,396)
- Receivables within one year +€114,396
up €114,396 (+52.2%), from €219,208 to €333,604
of which Other amounts receivable: +€112,055
- Debts within one year -€188,449
down €188,449 (-77.0%), from €244,612 to €56,163
- Investment grants +€92,000
up €92,000 (+4.9%), from €1.9m to €2.0m
- Gross operating margin +€356,238
up €356,238 (+166%), from €214,406 to €570,644
- Staff costs +€21,749
up €21,749 (+10.1%), from €215,836 to €237,585
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 | €2,434,735 | €2,348,487 | -€86,248 | -3.5% |
| Fixed assets | 21/28 | €14,370 | €11,217 | -€3,153 | -21.9% |
| Intangible fixed assets | 21 | €5,819 | €4,488 | -€1,331 | -22.9% |
| Tangible fixed assets | 22/27 | €8,052 | €6,229 | -€1,823 | -22.6% |
| Plant, machinery and equipment | 23 | €895 | €715 | -€180 | -20.1% |
| Furniture and vehicles | 24 | €7,157 | €5,514 | -€1,643 | -23.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €2,420,365 | €2,337,270 | -€83,095 | -3.4% |
| Stocks and contracts in progress | 3 | €1,895,949 | €1,904,174 | +€8,225 | +0.4% |
| Stocks | 30/36 | €1,895,949 | €1,904,174 | +€8,225 | +0.4% |
| Amounts receivable within one year | 40/41 | €219,208 | €333,604 | +€114,396 | +52.2% |
| Trade receivables | 40 | - | €2,341 | +€2,341 | |
| Other amounts receivable | 41 | €219,208 | €331,263 | +€112,055 | +51.1% |
| Cash at bank and in hand | 54/58 | €303,882 | €99,064 | -€204,818 | -67.4% |
| Deferred charges and accrued income | 490/1 | €1,325 | €428 | -€897 | -67.7% |
| Total equity and liabilities | 10/49 | €2,434,735 | €2,348,487 | -€86,248 | -3.5% |
| Equity | 10/15 | €2,065,198 | €2,160,703 | +€95,505 | +4.6% |
| Profit (loss) carried forward | 14 | €182,873 | €186,378 | +€3,505 | +1.9% |
| Investment grants | 15 | €1,882,325 | €1,974,325 | +€92,000 | +4.9% |
| Amounts payable | 17/49 | €369,537 | €187,784 | -€181,753 | -49.2% |
| Amounts payable within one year | 42/48 | €244,612 | €56,163 | -€188,449 | -77.0% |
| Trade debts | 44 | €38,579 | €8,476 | -€30,103 | -78.0% |
| Suppliers | 440/4 | €38,579 | €8,476 | -€30,103 | -78.0% |
| Taxes, remuneration and social security | 45 | €21,693 | €31,793 | +€10,100 | +46.6% |
| Taxes | 450/3 | - | €1,995 | +€1,995 | |
| Remuneration and social security | 454/9 | €21,693 | €29,798 | +€8,105 | +37.4% |
| Accrued charges and deferred income | 492/3 | €124,925 | €131,621 | +€6,696 | +5.4% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €215,836 | €237,585 | +€21,749 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,247 | €3,153 | +€1,906 | +153% |
| Other operating charges | 640/8 | €30 | €32 | +€2 | +5.7% |
| Non-recurring operating charges | 66A | - | €329,192 | +€329,192 | |
| Gross operating margin | 9900 | €214,406 | €570,644 | +€356,238 | +166% |
| Operating profit (loss) | 9901 | -€2,706 | €682 | +€3,388 | |
| Financial income | 75/76B | €1,243 | €2,974 | +€1,731 | +139% |
| Recurring financial income | 75 | €1,243 | €2,974 | +€1,731 | +139% |
| Financial charges | 65/66B | €116 | €151 | +€35 | +30.2% |
| Recurring financial charges | 65 | €116 | €151 | +€35 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,579 | €3,505 | +€5,084 | |
| Profit (loss) for the period | 9904 | -€1,579 | €3,505 | +€5,084 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,579 | €3,505 | +€5,084 |
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.