CARMAT: 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.
CARMAT
Largest movements
- Receivables within one year +€33,891
up €33,891 (+65.1%), from €52,091 to €85,982
of which Other amounts receivable: +€34,356
- Stocks and contracts +€29,648
new in 2025: €29,648
- Cash -€15,131
down €15,131 (-2.3%), from €669,709 to €654,578
mainly Contributions, distributions and other (-€116,150) and Receivables within one year (-€33,891)
- Advances received +€48,030
new in 2025: €48,030
- Gross operating margin +€23,992
up €23,992 (+15.1%), from €159,117 to €183,109
- Depreciation +€8,111
up €8,111 (+69.4%), from €11,693 to €19,804
- Taxes +€5,440
up €5,440 (+12.6%), from €43,152 to €48,591
- Financial income +€2,029
up €2,029 (+115%), from €1,759 to €3,787
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 | €794,990 | €844,359 | +€49,369 | +6.2% |
| Fixed assets | 21/28 | €72,323 | €73,246 | +€923 | +1.3% |
| Intangible fixed assets | 21 | - | €4,024 | +€4,024 | |
| Tangible fixed assets | 22/27 | €72,323 | €69,222 | -€3,101 | -4.3% |
| Furniture and vehicles | 24 | €64,840 | €48,609 | -€16,232 | -25.0% |
| Other tangible fixed assets | 26 | €7,483 | €20,613 | +€13,130 | +175% |
| Current assets | 29/58 | €722,667 | €771,113 | +€48,446 | +6.7% |
| Stocks and contracts in progress | 3 | - | €29,648 | +€29,648 | |
| Stocks | 30/36 | - | €29,648 | +€29,648 | |
| Amounts receivable within one year | 40/41 | €52,091 | €85,982 | +€33,891 | +65.1% |
| Trade receivables | 40 | €52,091 | €51,626 | -€465 | -0.9% |
| Other amounts receivable | 41 | €0 | €34,356 | +€34,356 | |
| Cash at bank and in hand | 54/58 | €669,709 | €654,578 | -€15,131 | -2.3% |
| Deferred charges and accrued income | 490/1 | €868 | €905 | +€38 | +4.3% |
| Total equity and liabilities | 10/49 | €794,990 | €844,359 | +€49,369 | +6.2% |
| Equity | 10/15 | €791,328 | €792,819 | +€1,491 | +0.2% |
| Reserves | 13 | €791,089 | €792,579 | +€1,490 | +0.2% |
| Distributable reserves | 133 | €791,089 | €792,579 | +€1,490 | +0.2% |
| Profit (loss) carried forward | 14 | €238 | €239 | +€1 | +0.4% |
| Amounts payable | 17/49 | €3,662 | €51,540 | +€47,878 | +1,307% |
| Amounts payable within one year | 42/48 | €3,662 | €51,540 | +€47,878 | +1,307% |
| Trade debts | 44 | €365 | €60 | -€305 | -83.5% |
| Suppliers | 440/4 | €365 | €60 | -€305 | -83.5% |
| Advances received on contracts in progress | 46 | - | €48,030 | +€48,030 | |
| Taxes, remuneration and social security | 45 | €3,298 | €3,450 | +€152 | +4.6% |
| Taxes | 450/3 | €3,298 | €2,850 | -€448 | -13.6% |
| Remuneration and social security | 454/9 | €0 | €600 | +€600 | |
| Non-recurring operating income | 76A | €6,455 | €0 | -€6,455 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,693 | €19,804 | +€8,111 | +69.4% |
| Other operating charges | 640/8 | €1,423 | €664 | -€759 | -53.4% |
| Gross operating margin | 9900 | €159,117 | €183,109 | +€23,992 | +15.1% |
| Operating profit (loss) | 9901 | €146,001 | €162,642 | +€16,641 | +11.4% |
| Financial income | 75/76B | €1,759 | €3,787 | +€2,029 | +115% |
| Recurring financial income | 75 | €1,759 | €3,787 | +€2,029 | +115% |
| Financial charges | 65/66B | €266 | €197 | -€69 | -25.9% |
| Recurring financial charges | 65 | €266 | €197 | -€69 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €147,494 | €166,232 | +€18,738 | +12.7% |
| Income taxes | 67/77 | €43,152 | €48,591 | +€5,440 | +12.6% |
| Profit (loss) for the period | 9904 | €104,342 | €117,641 | +€13,299 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €104,342 | €117,641 | +€13,299 | +12.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.