CARLINVEST: 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.
CARLINVEST
Largest movements
- Current investments -€2.9m
down €2.9m (-71.5%), from €4.0m to €1.1m
- Stocks and contracts -€592,376
no longer reported in 2025 (was €592,376)
- Receivables within one year -€220,523
down €220,523 (-42.9%), from €514,398 to €293,875
of which Trade receivables: -€269,193
- Tangible fixed assets -€128,211
down €128,211 (-51.6%), from €248,373 to €120,162
- Short-term financial debts -€2.7m
down €2.7m (-66.9%), from €4.1m to €1.3m
of which Credit institutions: -€2.1m
- Profit (loss) carried forward -€763,774
down €763,774 (-443%), from -€172,339 to -€936,112
- Trade debts -€127,320
down €127,320 (-86.1%), from €147,879 to €20,559
- Tax, wage and social debts -€103,918
down €103,918 (-74.8%), from €138,862 to €34,944
- Financial income +€294,243
up €294,243 (+96.6%), from €304,658 to €598,902
- Financial charges -€269,324
down €269,324 (-83.2%), from €323,684 to €54,360
of which Financial charges: -€266,589
- Gross operating margin -€118,282
down €118,282 (-89.9%), from €131,582 to €13,300
- Other operating charges -€7,441
down €7,441 (-68.5%), from €10,870 to €3,429
- Taxes +€6,989
up €6,989 (+465%), from €1,504 to €8,493
From the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,416,020 | €1,642,164 | -€3.8m | -69.7% |
| Fixed assets | 21/28 | €252,693 | €122,322 | -€130,371 | -51.6% |
| Tangible fixed assets | 22/27 | €248,373 | €120,162 | -€128,211 | -51.6% |
| Land and buildings | 22 | €147,626 | €91,140 | -€56,485 | -38.3% |
| Plant, machinery and equipment | 23 | €24,856 | €5,367 | -€19,489 | -78.4% |
| Furniture and vehicles | 24 | €75,891 | €23,655 | -€52,237 | -68.8% |
| Financial fixed assets | 28 | €4,320 | €2,160 | -€2,160 | -50.0% |
| Current assets | 29/58 | €5,163,327 | €1,519,842 | -€3.6m | -70.6% |
| Stocks and contracts in progress | 3 | €592,376 | - | -€592,376 | |
| Stocks | 30/36 | €592,376 | - | -€592,376 | |
| Amounts receivable within one year | 40/41 | €514,398 | €293,875 | -€220,523 | -42.9% |
| Trade receivables | 40 | €385,911 | €116,718 | -€269,193 | -69.8% |
| Other amounts receivable | 41 | €128,487 | €177,157 | +€48,670 | +37.9% |
| Current investments | 50/53 | €4,019,284 | €1,143,960 | -€2.9m | -71.5% |
| Cash at bank and in hand | 54/58 | €36,492 | €80,341 | +€43,849 | +120% |
| Deferred charges and accrued income | 490/1 | €777 | €1,666 | +€889 | +114% |
| Total equity and liabilities | 10/49 | €5,416,020 | €1,642,164 | -€3.8m | -69.7% |
| Equity | 10/15 | €1,003,161 | €239,388 | -€763,774 | -76.1% |
| Contributions | 10/11 | €1,100,000 | €1,100,000 | = | 0.0% |
| Reserves | 13 | €75,500 | €75,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €75,500 | €75,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €75,500 | €75,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172,339 | -€936,112 | -€763,774 | -443% |
| Amounts payable | 17/49 | €4,412,859 | €1,402,777 | -€3.0m | -68.2% |
| Amounts payable after more than one year | 17 | €38,974 | - | -€38,974 | |
| Financial debts | 170/4 | €38,974 | - | -€38,974 | |
| Amounts payable within one year | 42/48 | €4,373,885 | €1,402,777 | -€3.0m | -67.9% |
| Current portion of amounts payable after more than one year | 42 | €14,883 | - | -€14,883 | |
| Financial debts | 43 | €4,072,260 | €1,347,273 | -€2.7m | -66.9% |
| Credit institutions | 430/8 | €2,147,260 | - | -€2.1m | |
| Other loans | 439 | €1,925,000 | €1,347,273 | -€577,727 | -30.0% |
| Trade debts | 44 | €147,879 | €20,559 | -€127,320 | -86.1% |
| Suppliers | 440/4 | €147,879 | €20,559 | -€127,320 | -86.1% |
| Taxes, remuneration and social security | 45 | €138,862 | €34,944 | -€103,918 | -74.8% |
| Taxes | 450/3 | €138,862 | €34,944 | -€103,918 | -74.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,634 | €35,005 | -€3,629 | -9.4% |
| Other operating charges | 640/8 | €10,870 | €3,429 | -€7,441 | -68.5% |
| Gross operating margin | 9900 | €131,582 | €13,300 | -€118,282 | -89.9% |
| Operating profit (loss) | 9901 | €82,078 | -€25,134 | -€107,213 | |
| Financial income | 75/76B | €304,658 | €598,902 | +€294,243 | +96.6% |
| Recurring financial income | 75 | €304,658 | €598,902 | +€294,243 | +96.6% |
| Financial charges | 65/66B | €323,684 | €54,360 | -€269,324 | -83.2% |
| Recurring financial charges | 65 | €320,949 | €54,360 | -€266,589 | -83.1% |
| Non-recurring financial charges | 66B | €2,736 | - | -€2,736 | |
| Profit (loss) for the period before taxes | 9903 | €63,053 | €519,408 | +€456,355 | +724% |
| Income taxes | 67/77 | €1,504 | €8,493 | +€6,989 | +465% |
| Profit (loss) for the period | 9904 | €61,548 | €510,914 | +€449,366 | +730% |
| Profit (loss) for the period to be appropriated | 9905 | €61,548 | €510,914 | +€449,366 | +730% |
Source: filed annual accounts (NBB), financial years ended 31 March 2022 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.