CARMANS E&L: what changed
Two fiscal 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 E&L
Largest movements
- Stocks and contracts -€301,446
down €301,446 (-15.1%), from €2.0m to €1.7m
- Cash +€131,773
up €131,773 (+77.1%), from €170,992 to €302,765
mainly Depreciation (+€494,526) and Net result for the year (+€476,921)
- Receivables within one year -€124,076
down €124,076 (-16.1%), from €771,094 to €647,017
of which Trade receivables: -€125,474
- Tangible fixed assets -€62,670
down €62,670 (-4.5%), from €1.4m to €1.3m
of which Leasing and similar rights: -€155,928
- Trade debts -€792,892
down €792,892 (-40.9%), from €1.9m to €1.1m
- Reserves +€476,921
up €476,921 (+52.6%), from €905,898 to €1.4m
of which Distributable reserves: +€476,921
- Tax, wage and social debts +€59,103
up €59,103 (+24.2%), from €244,614 to €303,717
of which Taxes: +€68,719
- Debts after one year -€56,069
down €56,069 (-10.7%), from €524,379 to €468,310
- Gross operating margin +€725,928
up €725,928 (+25.9%), from €2.8m to €3.5m
- Staff costs +€197,326
up €197,326 (+9.5%), from €2.1m to €2.3m
- Taxes +€133,479
up €133,479 (+251.1%), from €53,166 to €186,646
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.
Cash bridge derived
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 | €4,330,255 | €3,979,596 | -€350,659 | -8.1% |
| Fixed assets | 21/28 | €1,391,761 | €1,333,209 | -€58,552 | -4.2% |
| Intangible fixed assets | 21 | €352 | €235 | -€117 | -33.3% |
| Tangible fixed assets | 22/27 | €1,382,181 | €1,319,512 | -€62,670 | -4.5% |
| Land and buildings | 22 | €384,081 | €376,538 | -€7,543 | -2.0% |
| Plant, machinery and equipment | 23 | €402,500 | €546,056 | +€143,556 | +35.7% |
| Furniture and vehicles | 24 | €283,325 | €240,571 | -€42,755 | -15.1% |
| Leasing and similar rights | 25 | €312,275 | €156,347 | -€155,928 | -49.9% |
| Financial fixed assets | 28 | €9,228 | €13,463 | +€4,235 | +45.9% |
| Current assets | 29/58 | €2,938,494 | €2,646,387 | -€292,107 | -9.9% |
| Stocks and contracts in progress | 3 | €1,996,409 | €1,694,963 | -€301,446 | -15.1% |
| Stocks | 30/36 | €1,996,409 | €1,694,963 | -€301,446 | -15.1% |
| Amounts receivable within one year | 40/41 | €771,094 | €647,017 | -€124,076 | -16.1% |
| Trade receivables | 40 | €771,094 | €645,620 | -€125,474 | -16.3% |
| Other amounts receivable | 41 | - | €1,397 | +€1,397 | |
| Cash at bank and in hand | 54/58 | €170,992 | €302,765 | +€131,773 | +77.1% |
| Deferred charges and accrued income | 490/1 | - | €1,642 | +€1,642 | |
| Total equity and liabilities | 10/49 | €4,330,255 | €3,979,596 | -€350,659 | -8.1% |
| Equity | 10/15 | €1,094,297 | €1,571,218 | +€476,921 | +43.6% |
| Contributions | 10/11 | €188,399 | €188,399 | = | 0.0% |
| Capital | 10 | €188,399 | €188,399 | = | 0.0% |
| Issued capital | 100 | €188,399 | €188,399 | = | 0.0% |
| Reserves | 13 | €905,898 | €1,382,819 | +€476,921 | +52.6% |
| Non-distributable reserves | 130/1 | €20,434 | €20,434 | = | 0.0% |
| Legal reserve | 130 | €20,434 | €20,434 | = | 0.0% |
| Distributable reserves | 133 | €885,465 | €1,362,385 | +€476,921 | +53.9% |
| Amounts payable | 17/49 | €3,235,957 | €2,408,378 | -€827,580 | -25.6% |
| Amounts payable after more than one year | 17 | €524,379 | €468,310 | -€56,069 | -10.7% |
| Financial debts | 170/4 | €524,379 | €468,310 | -€56,069 | -10.7% |
| Amounts payable within one year | 42/48 | €2,711,579 | €1,940,068 | -€771,511 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €525,835 | €488,479 | -€37,356 | -7.1% |
| Trade debts | 44 | €1,940,615 | €1,147,724 | -€792,892 | -40.9% |
| Suppliers | 440/4 | €1,940,615 | €1,147,724 | -€792,892 | -40.9% |
| Taxes, remuneration and social security | 45 | €244,614 | €303,717 | +€59,103 | +24.2% |
| Taxes | 450/3 | €26,693 | €95,411 | +€68,719 | +257.4% |
| Remuneration and social security | 454/9 | €217,922 | €208,306 | -€9,616 | -4.4% |
| Other amounts payable | 47/48 | €514 | €149 | -€366 | -71.1% |
| Remuneration, social security and pensions | 62 | €2,080,597 | €2,277,923 | +€197,326 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €459,295 | €494,526 | +€35,232 | +7.7% |
| Other operating charges | 640/8 | €37,224 | €44,567 | +€7,343 | +19.7% |
| Non-recurring operating charges | 66A | €19,608 | - | -€19,608 | |
| Gross operating margin | 9900 | €2,799,175 | €3,525,104 | +€725,928 | +25.9% |
| Operating profit (loss) | 9901 | €202,453 | €708,088 | +€505,635 | +249.8% |
| Financial income | 75/76B | €100 | €499 | +€399 | +400.4% |
| Recurring financial income | 75 | €100 | €499 | +€399 | +400.4% |
| Financial charges | 65/66B | €41,012 | €45,020 | +€4,009 | +9.8% |
| Recurring financial charges | 65 | €41,012 | €45,020 | +€4,009 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €161,541 | €663,566 | +€502,026 | +310.8% |
| Income taxes | 67/77 | €53,166 | €186,646 | +€133,479 | +251.1% |
| Profit (loss) for the period | 9904 | €108,375 | €476,921 | +€368,546 | +340.1% |
| Profit (loss) for the period to be appropriated | 9905 | €108,375 | €476,921 | +€368,546 | +340.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.