CARL: 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.
CARL
Largest movements
- Receivables within one year +€39,394
up €39,394 (+932%), from €4,226 to €43,620
of which Other amounts receivable: +€32,303
- Cash -€31,407
down €31,407 (-49.9%), from €62,921 to €31,514
mainly Receivables within one year (-€39,394) and Advances received (-€10,083)
- Tangible fixed assets +€3,966
up €3,966 (+35.3%), from €11,236 to €15,202
of which Other tangible fixed assets: +€8,501
- Deferred charges and accrued income +€3,803
up €3,803 (+1,392%), from €273 to €4,077
- Reserves +€28,561
up €28,561 (+75.2%), from €38,000 to €66,561
- Advances received -€10,083
down €10,083 (-100%), from €10,083 to €0
- Trade debts +€6,832
up €6,832 (+75.4%), from €9,058 to €15,890
- Tax, wage and social debts -€4,979
down €4,979 (-40.2%), from €12,370 to €7,391
of which Remuneration and social security: -€2,500
- Debts after one year -€3,161
down €3,161 (-100%), from €3,161 to €0
- Gross operating margin -€16,717
down €16,717 (-27.2%), from €61,442 to €44,725
- Write-downs -€8,636
down €8,636, from €4,318 to -€4,318
- Other operating charges +€4,018
up €4,018 (+364%), from €1,103 to €5,121
- Depreciation +€3,417
up €3,417 (+266%), from €1,283 to €4,700
- Taxes -€2,373
down €2,373 (-22.4%), from €10,615 to €8,242
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 | €78,656 | €94,413 | +€15,756 | +20.0% |
| Fixed assets | 21/28 | €11,236 | €15,202 | +€3,966 | +35.3% |
| Tangible fixed assets | 22/27 | €11,236 | €15,202 | +€3,966 | +35.3% |
| Plant, machinery and equipment | 23 | €1,980 | €967 | -€1,013 | -51.2% |
| Furniture and vehicles | 24 | €7,507 | €5,734 | -€1,773 | -23.6% |
| Other tangible fixed assets | 26 | - | €8,501 | +€8,501 | |
| Assets under construction and advance payments | 27 | €1,750 | €0 | -€1,750 | -100% |
| Current assets | 29/58 | €67,420 | €79,211 | +€11,791 | +17.5% |
| Amounts receivable within one year | 40/41 | €4,226 | €43,620 | +€39,394 | +932% |
| Trade receivables | 40 | €907 | €7,998 | +€7,091 | +782% |
| Other amounts receivable | 41 | €3,319 | €35,622 | +€32,303 | +973% |
| Cash at bank and in hand | 54/58 | €62,921 | €31,514 | -€31,407 | -49.9% |
| Deferred charges and accrued income | 490/1 | €273 | €4,077 | +€3,803 | +1,392% |
| Total equity and liabilities | 10/49 | €78,656 | €94,413 | +€15,756 | +20.0% |
| Equity | 10/15 | €39,229 | €67,561 | +€28,332 | +72.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €38,000 | €66,561 | +€28,561 | +75.2% |
| Distributable reserves | 133 | €38,000 | €66,561 | +€28,561 | +75.2% |
| Profit (loss) carried forward | 14 | €229 | €0 | -€229 | -100% |
| Amounts payable | 17/49 | €39,427 | €26,852 | -€12,575 | -31.9% |
| Amounts payable after more than one year | 17 | €3,161 | €0 | -€3,161 | -100% |
| Financial debts | 170/4 | €3,161 | €0 | -€3,161 | -100% |
| Amounts payable within one year | 42/48 | €35,857 | €26,443 | -€9,414 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €2,995 | €3,161 | +€166 | +5.6% |
| Trade debts | 44 | €9,058 | €15,890 | +€6,832 | +75.4% |
| Suppliers | 440/4 | €9,058 | €15,890 | +€6,832 | +75.4% |
| Advances received on contracts in progress | 46 | €10,083 | €0 | -€10,083 | -100% |
| Taxes, remuneration and social security | 45 | €12,370 | €7,391 | -€4,979 | -40.2% |
| Taxes | 450/3 | €9,870 | €7,391 | -€2,479 | -25.1% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts payable | 47/48 | €1,350 | €0 | -€1,350 | -100% |
| Accrued charges and deferred income | 492/3 | €409 | €409 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,283 | €4,700 | +€3,417 | +266% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,318 | -€4,318 | -€8,636 | |
| Other operating charges | 640/8 | €1,103 | €5,121 | +€4,018 | +364% |
| Gross operating margin | 9900 | €61,442 | €44,725 | -€16,717 | -27.2% |
| Operating profit (loss) | 9901 | €54,737 | €39,222 | -€15,515 | -28.3% |
| Financial income | 75/76B | €91 | €1,294 | +€1,203 | +1,327% |
| Recurring financial income | 75 | €91 | €1,294 | +€1,203 | +1,327% |
| Financial charges | 65/66B | €3,614 | €3,942 | +€328 | +9.1% |
| Recurring financial charges | 65 | €3,614 | €3,942 | +€328 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €51,214 | €36,574 | -€14,640 | -28.6% |
| Income taxes | 67/77 | €10,615 | €8,242 | -€2,373 | -22.4% |
| Profit (loss) for the period | 9904 | €40,598 | €28,332 | -€12,267 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,598 | €28,332 | -€12,267 | -30.2% |
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 14 October 2026 via checked.be.