AD KARREVELD: what changed
AD KARREVELD
Largest movements
- Receivables within one year +€181,140
up €181,140 (+102%), from €178,048 to €359,189
of which Trade receivables: +€147,383
- Tangible fixed assets +€71,162
up €71,162 (+84.5%), from €84,221 to €155,383
of which Plant, machinery and equipment: +€64,927
- Deferred charges and accrued income +€68,597
up €68,597 (+50.4%), from €136,179 to €204,776
- Cash -€40,214
down €40,214 (-3.2%), from €1.2m to €1.2m
mainly Contributions, distributions and other (-€450,000) and Receivables within one year (-€181,140)
- Formation expenses -€36,000
down €36,000 (-21.4%), from €167,967 to €131,967
- Trade debts +€231,747
up €231,747 (+18.6%), from €1.2m to €1.5m
- Other debts +€156,417
up €156,417 (+52.0%), from €300,844 to €457,261
- Debts after one year -€101,058
down €101,058 (-79.6%), from €127,009 to €25,951
- Tax, wage and social debts -€67,090
down €67,090 (-17.3%), from €388,154 to €321,065
of which Remuneration and social security: -€45,573
- Current portion of long-term debt +€28,066
up €28,066 (+38.5%), from €72,991 to €101,058
- Gross operating margin +€299,419
up €299,419 (+12.4%), from €2.4m to €2.7m
- Staff costs +€171,897
up €171,897 (+8.6%), from €2.0m to €2.2m
- Depreciation +€32,738
up €32,738 (+191%), from €17,172 to €49,910
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,428,408 | €2,691,567 | +€263,158 | +10.8% |
| Formation expenses | 20 | €167,967 | €131,967 | -€36,000 | -21.4% |
| Fixed assets | 21/28 | €84,221 | €155,383 | +€71,162 | +84.5% |
| Tangible fixed assets | 22/27 | €84,221 | €155,383 | +€71,162 | +84.5% |
| Plant, machinery and equipment | 23 | €74,730 | €139,657 | +€64,927 | +86.9% |
| Furniture and vehicles | 24 | €9,491 | €7,973 | -€1,518 | -16.0% |
| Other tangible fixed assets | 26 | - | €7,753 | +€7,753 | |
| Current assets | 29/58 | €2,176,221 | €2,404,217 | +€227,996 | +10.5% |
| Stocks and contracts in progress | 3 | €615,760 | €634,232 | +€18,473 | +3.0% |
| Stocks | 30/36 | €615,760 | €634,232 | +€18,473 | +3.0% |
| Amounts receivable within one year | 40/41 | €178,048 | €359,189 | +€181,140 | +102% |
| Trade receivables | 40 | €94,048 | €241,431 | +€147,383 | +157% |
| Other amounts receivable | 41 | €84,000 | €117,757 | +€33,757 | +40.2% |
| Cash at bank and in hand | 54/58 | €1,246,233 | €1,206,019 | -€40,214 | -3.2% |
| Deferred charges and accrued income | 490/1 | €136,179 | €204,776 | +€68,597 | +50.4% |
| Total equity and liabilities | 10/49 | €2,428,408 | €2,691,567 | +€263,158 | +10.8% |
| Equity | 10/15 | €268,818 | €282,439 | +€13,621 | +5.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | - | €20,000 | +€20,000 | |
| Non-distributable reserves | 130/1 | - | €20,000 | +€20,000 | |
| Legal reserve | 130 | - | €20,000 | +€20,000 | |
| Profit (loss) carried forward | 14 | €68,818 | €62,439 | -€6,379 | -9.3% |
| Amounts payable | 17/49 | €2,159,590 | €2,409,127 | +€249,537 | +11.6% |
| Amounts payable after more than one year | 17 | €127,009 | €25,951 | -€101,058 | -79.6% |
| Financial debts | 170/4 | €127,009 | €25,951 | -€101,058 | -79.6% |
| Amounts payable within one year | 42/48 | €2,010,989 | €2,360,130 | +€349,141 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €72,991 | €101,058 | +€28,066 | +38.5% |
| Trade debts | 44 | €1,248,999 | €1,480,746 | +€231,747 | +18.6% |
| Suppliers | 440/4 | €1,248,999 | €1,480,746 | +€231,747 | +18.6% |
| Taxes, remuneration and social security | 45 | €388,154 | €321,065 | -€67,090 | -17.3% |
| Taxes | 450/3 | €29,493 | €7,977 | -€21,516 | -73.0% |
| Remuneration and social security | 454/9 | €358,661 | €313,088 | -€45,573 | -12.7% |
| Other amounts payable | 47/48 | €300,844 | €457,261 | +€156,417 | +52.0% |
| Accrued charges and deferred income | 492/3 | €21,593 | €23,047 | +€1,454 | +6.7% |
| Remuneration, social security and pensions | 62 | €1,987,370 | €2,159,267 | +€171,897 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,172 | €49,910 | +€32,738 | +191% |
| Other operating charges | 640/8 | €387 | €17,474 | +€17,086 | +4,411% |
| Gross operating margin | 9900 | €2,423,778 | €2,723,197 | +€299,419 | +12.4% |
| Operating profit (loss) | 9901 | €418,849 | €496,547 | +€77,698 | +18.6% |
| Financial income | 75/76B | €629 | €892 | +€262 | +41.6% |
| Recurring financial income | 75 | €629 | €892 | +€262 | +41.6% |
| Financial charges | 65/66B | €22,667 | €25,840 | +€3,173 | +14.0% |
| Recurring financial charges | 65 | €22,667 | €25,840 | +€3,173 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €396,811 | €471,598 | +€74,787 | +18.8% |
| Income taxes | 67/77 | €27,993 | €7,977 | -€20,016 | -71.5% |
| Profit (loss) for the period | 9904 | €368,818 | €463,621 | +€94,803 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €368,818 | €463,621 | +€94,803 | +25.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.