CARMA INVEST: what changed
CARMA INVEST
Largest movements
- Cash -€71,962
down €71,962 (-21.0%), from €343,430 to €271,468
mainly Net result for the year (-€70,661) and Receivables within one year (-€17,209)
- Tangible fixed assets -€20,304
down €20,304 (-7.3%), from €277,104 to €256,800
of which Land and buildings: -€20,019
- Receivables within one year +€17,209
up €17,209 (+85.3%), from €20,169 to €37,379
of which Other amounts receivable: +€17,060
- Reserves -€70,661
down €70,661 (-12.5%), from €564,711 to €494,050
of which Distributable reserves: -€70,661
- Other debts -€7,054
no longer reported in 2025 (was €7,054)
- Gross operating margin -€8,321
down €8,321 (-25.9%), from -€32,186 to -€40,507
- Depreciation +€746
up €746 (+3.8%), from €19,558 to €20,304
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €640,703 | €565,646 | -€75,057 | -11.7% |
| Fixed assets | 21/28 | €277,104 | €256,800 | -€20,304 | -7.3% |
| Tangible fixed assets | 22/27 | €277,104 | €256,800 | -€20,304 | -7.3% |
| Land and buildings | 22 | €274,863 | €254,844 | -€20,019 | -7.3% |
| Plant, machinery and equipment | 23 | €2,241 | €1,955 | -€285 | -12.7% |
| Current assets | 29/58 | €363,599 | €308,846 | -€54,753 | -15.1% |
| Amounts receivable within one year | 40/41 | €20,169 | €37,379 | +€17,209 | +85.3% |
| Trade receivables | 40 | €20,169 | €20,319 | +€149 | +0.7% |
| Other amounts receivable | 41 | - | €17,060 | +€17,060 | |
| Cash at bank and in hand | 54/58 | €343,430 | €271,468 | -€71,962 | -21.0% |
| Total equity and liabilities | 10/49 | €640,703 | €565,646 | -€75,057 | -11.7% |
| Equity | 10/15 | €626,211 | €555,550 | -€70,661 | -11.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €564,711 | €494,050 | -€70,661 | -12.5% |
| Non-distributable reserves | 130/1 | €39,000 | €39,000 | = | 0.0% |
| Legal reserve | 130 | €39,000 | €39,000 | = | 0.0% |
| Distributable reserves | 133 | €525,711 | €455,050 | -€70,661 | -13.4% |
| Amounts payable | 17/49 | €14,492 | €10,096 | -€4,396 | -30.3% |
| Amounts payable within one year | 42/48 | €14,492 | €10,096 | -€4,396 | -30.3% |
| Trade debts | 44 | €2,961 | €3,563 | +€602 | +20.3% |
| Suppliers | 440/4 | €2,961 | €3,563 | +€602 | +20.3% |
| Taxes, remuneration and social security | 45 | €4,477 | €6,533 | +€2,056 | +45.9% |
| Taxes | 450/3 | €4,477 | €6,533 | +€2,056 | +45.9% |
| Other amounts payable | 47/48 | €7,054 | - | -€7,054 | |
| Non-recurring operating income | 76A | - | €116 | +€116 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,558 | €20,304 | +€746 | +3.8% |
| Other operating charges | 640/8 | €9,375 | €9,294 | -€81 | -0.9% |
| Gross operating margin | 9900 | -€32,186 | -€40,507 | -€8,321 | -25.9% |
| Operating profit (loss) | 9901 | -€61,119 | -€70,106 | -€8,986 | -14.7% |
| Financial charges | 65/66B | €541 | €555 | +€14 | +2.7% |
| Recurring financial charges | 65 | €541 | €555 | +€14 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | -€61,660 | -€70,661 | -€9,001 | -14.6% |
| Income taxes | 67/77 | €294 | - | -€294 | |
| Profit (loss) for the period | 9904 | -€61,954 | -€70,661 | -€8,707 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,954 | -€70,661 | -€8,707 | -14.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.