CARMOIS: 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.
CARMOIS
Largest movements
- Receivables within one year +€86,725
up €86,725 (+662%), from €13,091 to €99,816
- Stocks and contracts -€76,319
down €76,319 (-29.7%), from €256,536 to €180,217
- Tangible fixed assets -€47,251
down €47,251 (-27.5%), from €171,611 to €124,360
of which Plant, machinery and equipment: -€37,370
- Cash -€33,214
down €33,214 (-63.9%), from €51,941 to €18,727
mainly Receivables within one year (-€86,725) and Other debts (-€57,723)
- Other debts -€57,723
down €57,723 (-13.3%), from €433,250 to €375,527
- Debts after one year -€30,268
no longer reported in 2025 (was €30,268)
- Profit (loss) carried forward +€23,577
up €23,577 (+48.0%), from -€49,153 to -€25,576
- Contributions +€18,600
new in 2025: €18,600
- Reserves -€18,600
down €18,600 (-51.1%), from €36,399 to €17,799
- Gross operating margin +€28,532
up €28,532 (+64.5%), from €44,206 to €72,739
- Depreciation -€1,096
down €1,096 (-2.2%), from €49,354 to €48,259
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 | €495,808 | €426,038 | -€69,770 | -14.1% |
| Fixed assets | 21/28 | €171,611 | €124,360 | -€47,251 | -27.5% |
| Tangible fixed assets | 22/27 | €171,611 | €124,360 | -€47,251 | -27.5% |
| Plant, machinery and equipment | 23 | €154,688 | €117,319 | -€37,370 | -24.2% |
| Furniture and vehicles | 24 | €16,923 | €7,041 | -€9,881 | -58.4% |
| Current assets | 29/58 | €324,197 | €301,678 | -€22,519 | -6.9% |
| Stocks and contracts in progress | 3 | €256,536 | €180,217 | -€76,319 | -29.7% |
| Stocks | 30/36 | €256,536 | €180,217 | -€76,319 | -29.7% |
| Amounts receivable within one year | 40/41 | €13,091 | €99,816 | +€86,725 | +662% |
| Trade receivables | 40 | €13,091 | €99,816 | +€86,725 | +662% |
| Cash at bank and in hand | 54/58 | €51,941 | €18,727 | -€33,214 | -63.9% |
| Deferred charges and accrued income | 490/1 | €2,628 | €2,917 | +€288 | +11.0% |
| Total equity and liabilities | 10/49 | €495,808 | €426,038 | -€69,770 | -14.1% |
| Equity | 10/15 | -€12,754 | €10,823 | +€23,577 | |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €36,399 | €17,799 | -€18,600 | -51.1% |
| Distributable reserves | 133 | €36,399 | €17,799 | -€18,600 | -51.1% |
| Profit (loss) carried forward | 14 | -€49,153 | -€25,576 | +€23,577 | +48.0% |
| Amounts payable | 17/49 | €508,562 | €415,215 | -€93,348 | -18.4% |
| Amounts payable after more than one year | 17 | €30,268 | - | -€30,268 | |
| Financial debts | 170/4 | €30,268 | - | -€30,268 | |
| Amounts payable within one year | 42/48 | €478,295 | €415,215 | -€63,080 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €43,548 | €30,268 | -€13,280 | -30.5% |
| Trade debts | 44 | €405 | €677 | +€273 | +67.4% |
| Suppliers | 440/4 | €405 | €677 | +€273 | +67.4% |
| Taxes, remuneration and social security | 45 | €1,093 | €8,743 | +€7,650 | +700% |
| Taxes | 450/3 | €1,093 | €8,743 | +€7,650 | +700% |
| Other amounts payable | 47/48 | €433,250 | €375,527 | -€57,723 | -13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,354 | €48,259 | -€1,096 | -2.2% |
| Other operating charges | 640/8 | €1 | - | -€1 | |
| Gross operating margin | 9900 | €44,206 | €72,739 | +€28,532 | +64.5% |
| Operating profit (loss) | 9901 | -€5,149 | €24,480 | +€29,629 | |
| Financial charges | 65/66B | €1,561 | €903 | -€658 | -42.2% |
| Recurring financial charges | 65 | €1,561 | €903 | -€658 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,710 | €23,577 | +€30,288 | |
| Profit (loss) for the period | 9904 | -€6,710 | €23,577 | +€30,288 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,710 | €23,577 | +€30,288 |
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.