Carmans K.: 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 K.
Largest movements
- Tangible fixed assets +€170,985
up €170,985 (+7996.7%), from €2,138 to €173,123
of which Leasing and similar rights: +€153,009
- Receivables within one year -€21,318
down €21,318 (-47.4%), from €44,962 to €23,644
of which Trade receivables: -€25,329
- Cash -€19,320
down €19,320 (-62.1%), from €31,095 to €11,775
mainly Investment in fixed assets (net) (-€207,489) and Trade debts (-€12,384)
- Debts after one year +€124,465
new in 2025: €124,465
- Current portion of long-term debt +€18,779
new in 2025: €18,779
- Trade debts -€12,384
down €12,384 (-74.5%), from €16,624 to €4,240
- Other debts -€3,000
down €3,000 (-13.2%), from €22,700 to €19,700
- Reserves +€2,544
up €2,544 (+7.1%), from €35,978 to €38,522
- Depreciation +€36,440
up €36,440 (+56919.4%), from €64 to €36,504
- Taxes -€9,154
down €9,154 (-100.0%), from €9,154 to €0
- Financial charges +€8,477
up €8,477 (+9419200.0%), from €0 to €8,477
- Gross operating margin +€2,610
up €2,610 (+5.7%), from €45,419 to €48,029
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.
Cash bridge derived
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 | €89,846 | €221,538 | +€131,692 | +146.6% |
| Fixed assets | 21/28 | €13,788 | €184,773 | +€170,985 | +1240.1% |
| Tangible fixed assets | 22/27 | €2,138 | €173,123 | +€170,985 | +7996.7% |
| Plant, machinery and equipment | 23 | €2,138 | €1,404 | -€734 | -34.3% |
| Furniture and vehicles | 24 | - | €18,710 | +€18,710 | |
| Leasing and similar rights | 25 | - | €153,009 | +€153,009 | |
| Financial fixed assets | 28 | €11,650 | €11,650 | = | 0.0% |
| Current assets | 29/58 | €76,057 | €36,765 | -€39,293 | -51.7% |
| Amounts receivable within one year | 40/41 | €44,962 | €23,644 | -€21,318 | -47.4% |
| Trade receivables | 40 | €43,960 | €18,632 | -€25,329 | -57.6% |
| Other amounts receivable | 41 | €1,002 | €5,013 | +€4,011 | +400.4% |
| Cash at bank and in hand | 54/58 | €31,095 | €11,775 | -€19,320 | -62.1% |
| Deferred charges and accrued income | 490/1 | - | €1,345 | +€1,345 | |
| Total equity and liabilities | 10/49 | €89,846 | €221,538 | +€131,692 | +146.6% |
| Equity | 10/15 | €38,978 | €41,522 | +€2,544 | +6.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €35,978 | €38,522 | +€2,544 | +7.1% |
| Distributable reserves | 133 | €35,978 | €38,522 | +€2,544 | +7.1% |
| Amounts payable | 17/49 | €50,868 | €180,016 | +€129,148 | +253.9% |
| Amounts payable after more than one year | 17 | - | €124,465 | +€124,465 | |
| Financial debts | 170/4 | - | €124,465 | +€124,465 | |
| Amounts payable within one year | 42/48 | €50,868 | €55,552 | +€4,683 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | - | €18,779 | +€18,779 | |
| Trade debts | 44 | €16,624 | €4,240 | -€12,384 | -74.5% |
| Suppliers | 440/4 | €16,624 | €4,240 | -€12,384 | -74.5% |
| Taxes, remuneration and social security | 45 | €11,544 | €12,833 | +€1,289 | +11.2% |
| Taxes | 450/3 | €11,544 | €12,833 | +€1,289 | +11.2% |
| Other amounts payable | 47/48 | €22,700 | €19,700 | -€3,000 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64 | €36,504 | +€36,440 | +56919.4% |
| Other operating charges | 640/8 | €521 | €743 | +€222 | +42.7% |
| Gross operating margin | 9900 | €45,419 | €48,029 | +€2,610 | +5.7% |
| Operating profit (loss) | 9901 | €44,834 | €10,782 | -€34,053 | -76.0% |
| Financial income | 75/76B | €297 | €240 | -€57 | -19.3% |
| Recurring financial income | 75 | €297 | €240 | -€57 | -19.3% |
| Financial charges | 65/66B | €0 | €8,477 | +€8,477 | +9419200.0% |
| Recurring financial charges | 65 | €0 | €8,477 | +€8,477 | +9419200.0% |
| Profit (loss) for the period before taxes | 9903 | €45,131 | €2,544 | -€42,587 | -94.4% |
| Income taxes | 67/77 | €9,154 | €0 | -€9,154 | -100.0% |
| Profit (loss) for the period | 9904 | €35,978 | €2,544 | -€33,433 | -92.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,978 | €2,544 | -€33,433 | -92.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.