LE CARTEL: 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.
LE CARTEL
Largest movements
- Tangible fixed assets -€857
down €857 (-22.9%), from €3,738 to €2,881
of which Other tangible fixed assets: -€514
- Receivables within one year +€63
up €63 (+3.9%), from €1,614 to €1,678
of which Trade receivables: +€63
- Other debts +€2,681
up €2,681 (+15.7%), from €17,069 to €19,750
- Profit (loss) carried forward -€2,214
down €2,214 (-11.8%), from -€18,778 to -€20,991
- Trade debts -€1,145
no longer reported in 2025 (was €1,145)
- Accrued charges and deferred income -€116
no longer reported in 2025 (was €116)
- Gross operating margin -€228
down €228 (-20.2%), from -€1,129 to -€1,357
- Financial charges -€60
no longer reported in 2025 (was €60)
- Other operating charges -€50
no longer reported in 2025 (was €50)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,552 | €4,759 | -€793 | -14.3% |
| Fixed assets | 21/28 | €3,938 | €3,081 | -€857 | -21.8% |
| Tangible fixed assets | 22/27 | €3,738 | €2,881 | -€857 | -22.9% |
| Plant, machinery and equipment | 23 | €466 | €123 | -€342 | -73.5% |
| Other tangible fixed assets | 26 | €3,272 | €2,758 | -€514 | -15.7% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €1,614 | €1,678 | +€63 | +3.9% |
| Amounts receivable within one year | 40/41 | €1,614 | €1,678 | +€63 | +3.9% |
| Trade receivables | 40 | - | €63 | +€63 | |
| Other amounts receivable | 41 | €1,614 | €1,614 | = | 0.0% |
| Total equity and liabilities | 10/49 | €5,552 | €4,759 | -€793 | -14.3% |
| Equity | 10/15 | -€12,778 | -€14,991 | -€2,214 | -17.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,778 | -€20,991 | -€2,214 | -11.8% |
| Amounts payable | 17/49 | €18,330 | €19,750 | +€1,421 | +7.8% |
| Amounts payable within one year | 42/48 | €18,214 | €19,750 | +€1,536 | +8.4% |
| Trade debts | 44 | €1,145 | - | -€1,145 | |
| Suppliers | 440/4 | €1,145 | - | -€1,145 | |
| Other amounts payable | 47/48 | €17,069 | €19,750 | +€2,681 | +15.7% |
| Accrued charges and deferred income | 492/3 | €116 | - | -€116 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €857 | €857 | = | 0.0% |
| Other operating charges | 640/8 | €50 | - | -€50 | |
| Gross operating margin | 9900 | -€1,129 | -€1,357 | -€228 | -20.2% |
| Operating profit (loss) | 9901 | -€2,036 | -€2,214 | -€178 | -8.7% |
| Financial charges | 65/66B | €60 | - | -€60 | |
| Recurring financial charges | 65 | €60 | - | -€60 | |
| Profit (loss) for the period before taxes | 9903 | -€2,096 | -€2,214 | -€118 | -5.6% |
| Profit (loss) for the period | 9904 | -€2,096 | -€2,214 | -€118 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,096 | -€2,214 | -€118 | -5.6% |
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 28 October 2026 via checked.be.