BAP CARMELO: 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.
BAP CARMELO
Largest movements
- Receivables within one year +€35,420
up €35,420 (+108%), from €32,743 to €68,163
- Deferred charges and accrued income +€15,000
new in 2025: €15,000
- Cash +€10,183
new in 2025: €10,183
mainly Net result for the year (+€51,148) and Tax, wage and social debts (+€16,703)
- Financial fixed assets +€10,000
new in 2025: €10,000
- Tangible fixed assets -€2,314
down €2,314 (-20.0%), from €11,564 to €9,250
- Profit (loss) carried forward +€50,315
up €50,315 (+199%), from €25,312 to €75,627
- Tax, wage and social debts +€16,703
up €16,703 (+271%), from €6,159 to €22,862
- Other debts +€1,151
new in 2025: €1,151
- Gross operating margin +€45,323
up €45,323 (+144%), from €31,478 to €76,801
- Taxes +€8,387
up €8,387 (+136%), from €6,159 to €14,546
- Other operating charges +€5,801
new in 2025: €5,801
- Financial charges +€2,992
new in 2025: €2,992
- Depreciation +€2,308
up €2,308 (+37,103%), from €6 to €2,314
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 | €44,307 | €112,596 | +€68,289 | +154% |
| Fixed assets | 21/28 | €11,564 | €19,250 | +€7,686 | +66.5% |
| Tangible fixed assets | 22/27 | €11,564 | €9,250 | -€2,314 | -20.0% |
| Plant, machinery and equipment | 23 | €11,564 | €9,250 | -€2,314 | -20.0% |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €32,743 | €93,346 | +€60,603 | +185% |
| Amounts receivable within one year | 40/41 | €32,743 | €68,163 | +€35,420 | +108% |
| Trade receivables | 40 | €32,743 | €68,163 | +€35,420 | +108% |
| Cash at bank and in hand | 54/58 | - | €10,183 | +€10,183 | |
| Deferred charges and accrued income | 490/1 | - | €15,000 | +€15,000 | |
| Total equity and liabilities | 10/49 | €44,307 | €112,596 | +€68,289 | +154% |
| Equity | 10/15 | €25,312 | €76,127 | +€50,815 | +201% |
| Contributions | 10/11 | - | €500 | +€500 | |
| Profit (loss) carried forward | 14 | €25,312 | €75,627 | +€50,315 | +199% |
| Amounts payable | 17/49 | €18,994 | €36,469 | +€17,475 | +92.0% |
| Amounts payable within one year | 42/48 | €18,994 | €36,469 | +€17,475 | +92.0% |
| Trade debts | 44 | €12,835 | €12,456 | -€379 | -3.0% |
| Suppliers | 440/4 | €12,835 | €12,456 | -€379 | -3.0% |
| Taxes, remuneration and social security | 45 | €6,159 | €22,862 | +€16,703 | +271% |
| Taxes | 450/3 | €6,159 | €22,862 | +€16,703 | +271% |
| Other amounts payable | 47/48 | - | €1,151 | +€1,151 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6 | €2,314 | +€2,308 | +37,103% |
| Other operating charges | 640/8 | - | €5,801 | +€5,801 | |
| Gross operating margin | 9900 | €31,478 | €76,801 | +€45,323 | +144% |
| Operating profit (loss) | 9901 | €31,471 | €68,686 | +€37,214 | +118% |
| Financial charges | 65/66B | - | €2,992 | +€2,992 | |
| Recurring financial charges | 65 | - | €2,992 | +€2,992 | |
| Profit (loss) for the period before taxes | 9903 | €31,471 | €65,694 | +€34,222 | +109% |
| Income taxes | 67/77 | €6,159 | €14,546 | +€8,387 | +136% |
| Profit (loss) for the period | 9904 | €25,312 | €51,148 | +€25,835 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €25,312 | €51,148 | +€25,835 | +102% |
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.