Carmans Blue Technology: 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.
Carmans Blue Technology
Largest movements
- Cash +€974,064
up €974,064 (+36.5%), from €2.7m to €3.6m
mainly Net result for the year (+€2.3m) and Depreciation (+€984,086)
- Tangible fixed assets -€719,309
down €719,309 (-31.7%), from €2.3m to €1.5m
of which Plant, machinery and equipment: -€377,377
- Other debts +€808,000
up €808,000 (+84.5%), from €956,000 to €1.8m
- Trade debts -€643,858
down €643,858 (-12.6%), from €5.1m to €4.5m
- Reserves +€467,133
up €467,133 (+18.0%), from €2.6m to €3.1m
of which Distributable reserves: +€467,133
- Current portion of long-term debt -€201,272
down €201,272 (-84.4%), from €238,357 to €37,085
- Investment grants -€179,496
down €179,496 (-100%), from €179,496 to €0
- Gross operating margin +€2.8m
up €2.8m (+324%), from €848,967 to €3.6m
- Provisions +€2.0m
up €2.0m, from -€2.0m to €0
- Taxes +€241,783
up €241,783 (+81.9%), from €295,066 to €536,849
- Depreciation -€86,140
down €86,140 (-8.0%), from €1.1m to €984,086
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 | €9,526,816 | €9,827,950 | +€301,134 | +3.2% |
| Fixed assets | 21/28 | €2,299,946 | €1,580,637 | -€719,309 | -31.3% |
| Tangible fixed assets | 22/27 | €2,267,446 | €1,548,137 | -€719,309 | -31.7% |
| Land and buildings | 22 | €165,109 | €85,278 | -€79,832 | -48.4% |
| Plant, machinery and equipment | 23 | €1,829,355 | €1,451,978 | -€377,377 | -20.6% |
| Furniture and vehicles | 24 | €9,311 | €10,881 | +€1,570 | +16.9% |
| Leasing and similar rights | 25 | €3,593 | €0 | -€3,593 | -100% |
| Other tangible fixed assets | 26 | €260,077 | €0 | -€260,077 | -100% |
| Financial fixed assets | 28 | €32,500 | €32,500 | = | 0.0% |
| Current assets | 29/58 | €7,226,870 | €8,247,314 | +€1.0m | +14.1% |
| Stocks and contracts in progress | 3 | €148,000 | €156,000 | +€8,000 | +5.4% |
| Stocks | 30/36 | €148,000 | €156,000 | +€8,000 | +5.4% |
| Amounts receivable within one year | 40/41 | €4,406,851 | €4,445,230 | +€38,379 | +0.9% |
| Trade receivables | 40 | €4,290,773 | €4,422,180 | +€131,407 | +3.1% |
| Other amounts receivable | 41 | €116,078 | €23,050 | -€93,028 | -80.1% |
| Cash at bank and in hand | 54/58 | €2,672,019 | €3,646,084 | +€974,064 | +36.5% |
| Total equity and liabilities | 10/49 | €9,526,816 | €9,827,950 | +€301,134 | +3.2% |
| Equity | 10/15 | €2,846,808 | €3,134,445 | +€287,637 | +10.1% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €2,602,312 | €3,069,445 | +€467,133 | +18.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €2,595,812 | €3,062,945 | +€467,133 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €179,496 | €0 | -€179,496 | -100% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €6,680,009 | €6,693,506 | +€13,497 | +0.2% |
| Amounts payable after more than one year | 17 | €63,782 | €0 | -€63,782 | -100% |
| Financial debts | 170/4 | €63,782 | €0 | -€63,782 | -100% |
| Amounts payable within one year | 42/48 | €6,616,226 | €6,693,506 | +€77,280 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €238,357 | €37,085 | -€201,272 | -84.4% |
| Trade debts | 44 | €5,117,859 | €4,474,001 | -€643,858 | -12.6% |
| Suppliers | 440/4 | €5,117,859 | €4,474,001 | -€643,858 | -12.6% |
| Taxes, remuneration and social security | 45 | €304,011 | €418,420 | +€114,409 | +37.6% |
| Taxes | 450/3 | €304,011 | €418,420 | +€114,409 | +37.6% |
| Other amounts payable | 47/48 | €956,000 | €1,764,000 | +€808,000 | +84.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €220 | €3,514 | +€3,294 | +1,498% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,070,226 | €984,086 | -€86,140 | -8.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,970,123 | €0 | +€2.0m | |
| Other operating charges | 640/8 | €39,738 | €51,934 | +€12,197 | +30.7% |
| Gross operating margin | 9900 | €848,967 | €3,599,948 | +€2.8m | +324% |
| Operating profit (loss) | 9901 | €1,708,905 | €2,560,414 | +€851,508 | +49.8% |
| Financial income | 75/76B | €256,273 | €258,991 | +€2,718 | +1.1% |
| Recurring financial income | 75 | €256,273 | €258,991 | +€2,718 | +1.1% |
| Financial charges | 65/66B | €23,122 | €15,423 | -€7,699 | -33.3% |
| Recurring financial charges | 65 | €23,122 | €15,423 | -€7,699 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €1,942,056 | €2,803,982 | +€861,926 | +44.4% |
| Income taxes | 67/77 | €295,066 | €536,849 | +€241,783 | +81.9% |
| Profit (loss) for the period | 9904 | €1,646,990 | €2,267,133 | +€620,142 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,646,990 | €2,267,133 | +€620,142 | +37.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.