Thomas Carlier: 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.
Thomas Carlier
Largest movements
- Cash +€246,051
up €246,051 (+37.9%), from €649,552 to €895,603
mainly Net result for the year (+€343,398) and Receivables within one year (+€73,500)
- Financial fixed assets +€149,400
up €149,400 (+22.4%), from €666,600 to €816,000
- Receivables within one year -€73,500
down €73,500 (-93.4%), from €78,694 to €5,194
- Tangible fixed assets -€46,472
down €46,472 (-9.0%), from €517,847 to €471,375
of which Furniture and vehicles: -€31,213
- Profit (loss) carried forward +€143,398
up €143,398 (+16.8%), from €855,627 to €999,025
- Reserves +€110,000
up €110,000 (+22.3%), from €494,000 to €604,000
of which Distributable reserves: +€110,000
- Short-term financial debts +€58,250
up €58,250 (+13.8%), from €422,333 to €480,583
- Debts after one year -€43,273
down €43,273 (-36.5%), from €118,681 to €75,408
- Gross operating margin +€38,167
up €38,167 (+7.6%), from €501,233 to €539,400
- Purchases and services -€24,482
down €24,482 (-9.5%), from €257,759 to €233,277
- Turnover +€20,130
up €20,130 (+2.7%), from €752,548 to €772,678
- Taxes +€17,988
up €17,988 (+15.1%), from €119,111 to €137,099
- Other operating charges -€11,824
down €11,824 (-74.7%), from €15,821 to €3,997
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 | €2,002,114 | €2,280,783 | +€278,669 | +13.9% |
| Fixed assets | 21/28 | €1,184,447 | €1,287,375 | +€102,928 | +8.7% |
| Tangible fixed assets | 22/27 | €517,847 | €471,375 | -€46,472 | -9.0% |
| Land and buildings | 22 | €412,554 | €399,008 | -€13,546 | -3.3% |
| Plant, machinery and equipment | 23 | €5,584 | €3,871 | -€1,713 | -30.7% |
| Furniture and vehicles | 24 | €96,709 | €65,496 | -€31,213 | -32.3% |
| Other tangible fixed assets | 26 | €3,000 | €3,000 | = | 0.0% |
| Financial fixed assets | 28 | €666,600 | €816,000 | +€149,400 | +22.4% |
| Current assets | 29/58 | €817,667 | €993,408 | +€175,741 | +21.5% |
| Amounts receivable within one year | 40/41 | €78,694 | €5,194 | -€73,500 | -93.4% |
| Other amounts receivable | 41 | €78,694 | €5,194 | -€73,500 | -93.4% |
| Current investments | 50/53 | €74,946 | €74,946 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €649,552 | €895,603 | +€246,051 | +37.9% |
| Deferred charges and accrued income | 490/1 | €14,475 | €17,665 | +€3,190 | +22.0% |
| Total equity and liabilities | 10/49 | €2,002,114 | €2,280,783 | +€278,669 | +13.9% |
| Equity | 10/15 | €1,389,637 | €1,643,035 | +€253,398 | +18.2% |
| Contributions | 10/11 | €40,010 | €40,010 | = | 0.0% |
| Capital | 10 | €40,010 | €40,010 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Uncalled capital | 101 | €39,990 | €39,990 | = | 0.0% |
| Reserves | 13 | €494,000 | €604,000 | +€110,000 | +22.3% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Legal reserve | 130 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €490,000 | €600,000 | +€110,000 | +22.4% |
| Profit (loss) carried forward | 14 | €855,627 | €999,025 | +€143,398 | +16.8% |
| Amounts payable | 17/49 | €612,477 | €637,748 | +€25,271 | +4.1% |
| Amounts payable after more than one year | 17 | €118,681 | €75,408 | -€43,273 | -36.5% |
| Financial debts | 170/4 | €118,681 | €75,408 | -€43,273 | -36.5% |
| Amounts payable within one year | 42/48 | €471,712 | €538,076 | +€66,364 | +14.1% |
| Financial debts | 43 | €422,333 | €480,583 | +€58,250 | +13.8% |
| Other loans | 439 | €422,333 | €480,583 | +€58,250 | +13.8% |
| Trade debts | 44 | €268 | €394 | +€126 | +47.0% |
| Suppliers | 440/4 | €268 | €394 | +€126 | +47.0% |
| Taxes, remuneration and social security | 45 | €49,111 | €57,099 | +€7,988 | +16.3% |
| Taxes | 450/3 | €49,111 | €57,099 | +€7,988 | +16.3% |
| Accrued charges and deferred income | 492/3 | €22,084 | €24,264 | +€2,180 | +9.9% |
| Turnover | 70 | €752,548 | €772,678 | +€20,130 | +2.7% |
| Non-recurring operating income | 76A | €6,444 | - | -€6,444 | |
| Goods, raw materials, services and sundry goods | 60/61 | €257,759 | €233,277 | -€24,482 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,246 | €46,471 | +€225 | +0.5% |
| Other operating charges | 640/8 | €15,821 | €3,997 | -€11,824 | -74.7% |
| Gross operating margin | 9900 | €501,233 | €539,400 | +€38,167 | +7.6% |
| Operating profit (loss) | 9901 | €439,166 | €488,932 | +€49,766 | +11.3% |
| Financial income | 75/76B | €15,096 | €19,080 | +€3,984 | +26.4% |
| Recurring financial income | 75 | €15,096 | €19,080 | +€3,984 | +26.4% |
| Financial charges | 65/66B | €24,869 | €27,515 | +€2,646 | +10.6% |
| Recurring financial charges | 65 | €24,869 | €27,515 | +€2,646 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | €429,393 | €480,497 | +€51,104 | +11.9% |
| Income taxes | 67/77 | €119,111 | €137,099 | +€17,988 | +15.1% |
| Profit (loss) for the period | 9904 | €310,282 | €343,398 | +€33,116 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €310,282 | €343,398 | +€33,116 | +10.7% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.