Carmello: 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.
Carmello
Largest movements
- Tangible fixed assets -€33,428
down €33,428 (-53.7%), from €62,243 to €28,815
of which Leasing and similar rights: -€21,991
- Reserves -€46,411
down €46,411 (-25.9%), from €179,029 to €132,618
- Other debts +€36,869
up €36,869 (+62.4%), from €59,054 to €95,923
- Current portion of long-term debt -€10,185
down €10,185 (-85.1%), from €11,975 to €1,790
- Trade debts -€6,013
down €6,013 (-47.7%), from €12,597 to €6,584
- Tax, wage and social debts -€5,656
down €5,656 (-83.4%), from €6,778 to €1,122
- Financial charges -€32,044
down €32,044 (-89.7%), from €35,712 to €3,668
- Other operating charges +€22,109
up €22,109 (+1479.5%), from €1,494 to €23,603
- Gross operating margin -€19,644
down €19,644 (-25.3%), from €77,696 to €58,053
- Depreciation -€10,218
down €10,218 (-46.4%), from €22,039 to €11,821
- Financial income -€1,100
down €1,100 (-21.2%), from €5,196 to €4,096
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 | €271,965 | €239,123 | -€32,842 | -12.1% |
| Fixed assets | 21/28 | €62,243 | €28,815 | -€33,428 | -53.7% |
| Tangible fixed assets | 22/27 | €62,243 | €28,815 | -€33,428 | -53.7% |
| Plant, machinery and equipment | 23 | €27,434 | €21,116 | -€6,318 | -23.0% |
| Furniture and vehicles | 24 | €4,280 | €749 | -€3,531 | -82.5% |
| Leasing and similar rights | 25 | €21,991 | €0 | -€21,991 | -100.0% |
| Other tangible fixed assets | 26 | €8,537 | €6,950 | -€1,587 | -18.6% |
| Current assets | 29/58 | €209,722 | €210,308 | +€586 | +0.3% |
| Stocks and contracts in progress | 3 | €2,052 | €4,018 | +€1,966 | +95.8% |
| Stocks | 30/36 | €2,052 | €4,018 | +€1,966 | +95.8% |
| Amounts receivable within one year | 40/41 | €8,662 | €7,388 | -€1,274 | -14.7% |
| Trade receivables | 40 | €1,106 | €3,104 | +€1,998 | +180.6% |
| Other amounts receivable | 41 | €7,556 | €4,284 | -€3,272 | -43.3% |
| Current investments | 50/53 | €177,502 | €175,001 | -€2,501 | -1.4% |
| Cash at bank and in hand | 54/58 | €17,626 | €19,786 | +€2,160 | +12.3% |
| Deferred charges and accrued income | 490/1 | €3,880 | €4,115 | +€235 | +6.1% |
| Total equity and liabilities | 10/49 | €271,965 | €239,123 | -€32,842 | -12.1% |
| Equity | 10/15 | €179,529 | €133,118 | -€46,411 | -25.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €179,029 | €132,618 | -€46,411 | -25.9% |
| Distributable reserves | 133 | €179,029 | €132,618 | -€46,411 | -25.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €92,436 | €106,005 | +€13,569 | +14.7% |
| Amounts payable after more than one year | 17 | €1,790 | €0 | -€1,790 | -100.0% |
| Financial debts | 170/4 | €1,790 | €0 | -€1,790 | -100.0% |
| Amounts payable within one year | 42/48 | €90,404 | €105,418 | +€15,014 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €11,975 | €1,790 | -€10,185 | -85.1% |
| Trade debts | 44 | €12,597 | €6,584 | -€6,013 | -47.7% |
| Suppliers | 440/4 | €12,597 | €6,584 | -€6,013 | -47.7% |
| Taxes, remuneration and social security | 45 | €6,778 | €1,122 | -€5,656 | -83.4% |
| Taxes | 450/3 | €6,778 | €1,122 | -€5,656 | -83.4% |
| Other amounts payable | 47/48 | €59,054 | €95,923 | +€36,869 | +62.4% |
| Accrued charges and deferred income | 492/3 | €241 | €586 | +€345 | +142.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,039 | €11,821 | -€10,218 | -46.4% |
| Other operating charges | 640/8 | €1,494 | €23,603 | +€22,109 | +1479.5% |
| Gross operating margin | 9900 | €77,696 | €58,053 | -€19,644 | -25.3% |
| Operating profit (loss) | 9901 | €54,163 | €22,629 | -€31,534 | -58.2% |
| Financial income | 75/76B | €5,196 | €4,096 | -€1,100 | -21.2% |
| Recurring financial income | 75 | €5,196 | €4,096 | -€1,100 | -21.2% |
| Financial charges | 65/66B | €35,712 | €3,668 | -€32,044 | -89.7% |
| Recurring financial charges | 65 | €35,712 | €3,668 | -€32,044 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | €23,647 | €23,057 | -€590 | -2.5% |
| Income taxes | 67/77 | €7,187 | €7,416 | +€229 | +3.2% |
| Profit (loss) for the period | 9904 | €16,460 | €15,640 | -€819 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,460 | €15,640 | -€819 | -5.0% |
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 2 October 2026 via checked.be.