Carels-Speleman: 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.
Carels-Speleman
Largest movements
- Receivables within one year -€93,606
down €93,606 (-19.0%), from €493,606 to €400,000
- Cash -€40,226
down €40,226 (-7.1%), from €564,844 to €524,618
mainly Contributions, distributions and other (-€934,755) and Other debts (-€117,104)
- Tangible fixed assets -€38,429
down €38,429 (-24.1%), from €159,376 to €120,947
of which Furniture and vehicles: -€28,358
- Other debts -€117,104
down €117,104 (-12.4%), from €947,463 to €830,359
- Tax, wage and social debts -€55,157
down €55,157 (-26.7%), from €206,942 to €151,786
- Gross operating margin -€25,504
down €25,504 (-2.0%), from €1.3m to €1.3m
- Taxes -€16,704
down €16,704 (-5.2%), from €321,787 to €305,083
- Other operating charges -€13,370
down €13,370 (-88.8%), from €15,058 to €1,688
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,217,875 | €1,045,615 | -€172,261 | -14.1% |
| Fixed assets | 21/28 | €159,426 | €120,997 | -€38,429 | -24.1% |
| Tangible fixed assets | 22/27 | €159,376 | €120,947 | -€38,429 | -24.1% |
| Plant, machinery and equipment | 23 | €15,966 | €12,474 | -€3,492 | -21.9% |
| Furniture and vehicles | 24 | €92,632 | €64,274 | -€28,358 | -30.6% |
| Other tangible fixed assets | 26 | €50,778 | €44,199 | -€6,579 | -13.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,058,449 | €924,618 | -€133,831 | -12.6% |
| Amounts receivable within one year | 40/41 | €493,606 | €400,000 | -€93,606 | -19.0% |
| Trade receivables | 40 | €493,606 | €400,000 | -€93,606 | -19.0% |
| Cash at bank and in hand | 54/58 | €564,844 | €524,618 | -€40,226 | -7.1% |
| Total equity and liabilities | 10/49 | €1,217,875 | €1,045,615 | -€172,261 | -14.1% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €1,199,275 | €1,027,015 | -€172,261 | -14.4% |
| Amounts payable within one year | 42/48 | €1,199,275 | €1,027,015 | -€172,261 | -14.4% |
| Advances received on contracts in progress | 46 | €44,870 | €44,870 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €206,942 | €151,786 | -€55,157 | -26.7% |
| Taxes | 450/3 | €206,942 | €151,786 | -€55,157 | -26.7% |
| Other amounts payable | 47/48 | €947,463 | €830,359 | -€117,104 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,874 | €41,248 | +€374 | +0.9% |
| Other operating charges | 640/8 | €15,058 | €1,688 | -€13,370 | -88.8% |
| Gross operating margin | 9900 | €1,306,999 | €1,281,495 | -€25,504 | -2.0% |
| Operating profit (loss) | 9901 | €1,251,067 | €1,238,558 | -€12,508 | -1.0% |
| Financial income | 75/76B | €1,969 | €1,418 | -€552 | -28.0% |
| Recurring financial income | 75 | €1,969 | €1,418 | -€552 | -28.0% |
| Financial charges | 65/66B | €185 | €138 | -€47 | -25.3% |
| Recurring financial charges | 65 | €185 | €138 | -€47 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €1,252,851 | €1,239,838 | -€13,013 | -1.0% |
| Income taxes | 67/77 | €321,787 | €305,083 | -€16,704 | -5.2% |
| Profit (loss) for the period | 9904 | €931,064 | €934,755 | +€3,691 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €931,064 | €934,755 | +€3,691 | +0.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.