Carmela: 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.
Carmela
Largest movements
- Cash +€190,585
up €190,585 (+85.1%), from €223,995 to €414,581
mainly Net result for the year (+€195,228) and Tax, wage and social debts (+€59,951)
- Receivables after one year +€92,540
new in 2025: €92,540
- Receivables within one year -€30,302
down €30,302 (-56.0%), from €54,123 to €23,820
- Tangible fixed assets +€5,748
up €5,748 (+622%), from €923 to €6,671
- Profit (loss) carried forward +€195,228
up €195,228 (+109%), from €178,395 to €373,623
- Tax, wage and social debts +€59,951
up €59,951 (+77.1%), from €77,793 to €137,744
- Gross operating margin +€18,523
up €18,523 (+7.8%), from €238,649 to €257,172
- Taxes +€6,267
up €6,267 (+11.3%), from €55,526 to €61,793
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 | €279,718 | €537,624 | +€257,906 | +92.2% |
| Fixed assets | 21/28 | €923 | €6,671 | +€5,748 | +622% |
| Tangible fixed assets | 22/27 | €923 | €6,671 | +€5,748 | +622% |
| Furniture and vehicles | 24 | €923 | €6,671 | +€5,748 | +622% |
| Current assets | 29/58 | €278,795 | €530,953 | +€252,158 | +90.4% |
| Amounts receivable after more than one year | 29 | - | €92,540 | +€92,540 | |
| Other amounts receivable | 291 | - | €92,540 | +€92,540 | |
| Amounts receivable within one year | 40/41 | €54,123 | €23,820 | -€30,302 | -56.0% |
| Trade receivables | 40 | €54,123 | €23,820 | -€30,302 | -56.0% |
| Cash at bank and in hand | 54/58 | €223,995 | €414,581 | +€190,585 | +85.1% |
| Deferred charges and accrued income | 490/1 | €677 | €13 | -€664 | -98.1% |
| Total equity and liabilities | 10/49 | €279,718 | €537,624 | +€257,906 | +92.2% |
| Equity | 10/15 | €193,395 | €388,623 | +€195,228 | +101% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,395 | €373,623 | +€195,228 | +109% |
| Amounts payable | 17/49 | €86,323 | €149,001 | +€62,678 | +72.6% |
| Amounts payable within one year | 42/48 | €86,323 | €149,001 | +€62,678 | +72.6% |
| Trade debts | 44 | €8,211 | €11,069 | +€2,858 | +34.8% |
| Suppliers | 440/4 | €8,211 | €11,069 | +€2,858 | +34.8% |
| Taxes, remuneration and social security | 45 | €77,793 | €137,744 | +€59,951 | +77.1% |
| Taxes | 450/3 | €77,793 | €137,744 | +€59,951 | +77.1% |
| Other amounts payable | 47/48 | €319 | €188 | -€131 | -41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €363 | €864 | +€501 | +138% |
| Other operating charges | 640/8 | €100 | €27 | -€73 | -73.1% |
| Gross operating margin | 9900 | €238,649 | €257,172 | +€18,523 | +7.8% |
| Operating profit (loss) | 9901 | €238,186 | €256,281 | +€18,095 | +7.6% |
| Financial income | 75/76B | €9 | €1,022 | +€1,013 | +10,965% |
| Recurring financial income | 75 | €9 | €1,022 | +€1,013 | +10,965% |
| Financial charges | 65/66B | €319 | €283 | -€35 | -11.1% |
| Recurring financial charges | 65 | €319 | €283 | -€35 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €237,877 | €257,021 | +€19,144 | +8.0% |
| Income taxes | 67/77 | €55,526 | €61,793 | +€6,267 | +11.3% |
| Profit (loss) for the period | 9904 | €182,351 | €195,228 | +€12,877 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €182,351 | €195,228 | +€12,877 | +7.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.