CARMY: 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.
CARMY
Largest movements
- Tangible fixed assets -€280,879
down €280,879 (-32.1%), from €875,522 to €594,642
of which Land and buildings: -€280,464
- Receivables within one year +€81,128
up €81,128 (+31.7%), from €255,683 to €336,811
of which Other amounts receivable: +€79,354
- Debts after one year -€421,129
down €421,129 (-26.0%), from €1.6m to €1.2m
- Profit (loss) carried forward +€203,675
up €203,675 (+46.7%), from €436,234 to €639,909
- Current portion of long-term debt +€53,654
up €53,654 (+507.0%), from €10,582 to €64,237
- Gross operating margin +€305,510
up €305,510 (+277.9%), from €109,931 to €415,441
- Taxes +€73,952
up €73,952 (+1225.2%), from €6,036 to €79,988
- Financial income -€55,589
down €55,589 (-100.0%), from €55,603 to €14
of which Financial income: -€53,819
- Other operating charges -€31,329
down €31,329 (-50.6%), from €61,891 to €30,561
- Depreciation -€26,854
down €26,854 (-38.7%), from €69,463 to €42,610
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 | €3,196,359 | €3,009,793 | -€186,566 | -5.8% |
| Fixed assets | 21/28 | €1,210,383 | €929,504 | -€280,879 | -23.2% |
| Tangible fixed assets | 22/27 | €875,522 | €594,642 | -€280,879 | -32.1% |
| Land and buildings | 22 | €870,644 | €590,180 | -€280,464 | -32.2% |
| Plant, machinery and equipment | 23 | €1,224 | €964 | -€260 | -21.2% |
| Furniture and vehicles | 24 | €3,653 | €3,498 | -€155 | -4.2% |
| Financial fixed assets | 28 | €334,861 | €334,861 | = | 0.0% |
| Current assets | 29/58 | €1,985,975 | €2,080,289 | +€94,314 | +4.7% |
| Stocks and contracts in progress | 3 | €1,622,354 | €1,622,354 | = | 0.0% |
| Stocks | 30/36 | €1,622,354 | €1,622,354 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €255,683 | €336,811 | +€81,128 | +31.7% |
| Trade receivables | 40 | €9,757 | €11,531 | +€1,774 | +18.2% |
| Other amounts receivable | 41 | €245,925 | €325,279 | +€79,354 | +32.3% |
| Cash at bank and in hand | 54/58 | €92,254 | €106,930 | +€14,676 | +15.9% |
| Deferred charges and accrued income | 490/1 | €15,685 | €14,195 | -€1,491 | -9.5% |
| Total equity and liabilities | 10/49 | €3,196,359 | €3,009,793 | -€186,566 | -5.8% |
| Equity | 10/15 | €731,305 | €932,445 | +€201,140 | +27.5% |
| Contributions | 10/11 | €212,152 | €212,152 | = | 0.0% |
| Capital | 10 | €212,152 | €212,152 | = | 0.0% |
| Issued capital | 100 | €212,152 | €212,152 | = | 0.0% |
| Reserves | 13 | €82,918 | €80,383 | -€2,535 | -3.1% |
| Non-distributable reserves | 130/1 | €13,629 | €13,629 | = | 0.0% |
| Legal reserve | 130 | €13,629 | €13,629 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,289 | €66,754 | -€2,535 | -3.7% |
| Profit (loss) carried forward | 14 | €436,234 | €639,909 | +€203,675 | +46.7% |
| Provisions and deferred taxes | 16 | €29,105 | €28,040 | -€1,065 | -3.7% |
| Deferred taxes | 168 | €29,105 | €28,040 | -€1,065 | -3.7% |
| Amounts payable | 17/49 | €2,435,949 | €2,049,308 | -€386,641 | -15.9% |
| Amounts payable after more than one year | 17 | €1,618,129 | €1,197,000 | -€421,129 | -26.0% |
| Financial debts | 170/4 | €1,618,129 | €1,197,000 | -€421,129 | -26.0% |
| Amounts payable within one year | 42/48 | €563,261 | €597,749 | +€34,488 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €10,582 | €64,237 | +€53,654 | +507.0% |
| Financial debts | 43 | €83 | €83 | = | 0.0% |
| Credit institutions | 430/8 | €83 | €83 | = | 0.0% |
| Trade debts | 44 | €124,317 | €117,328 | -€6,988 | -5.6% |
| Suppliers | 440/4 | €124,317 | €117,328 | -€6,988 | -5.6% |
| Taxes, remuneration and social security | 45 | €38,114 | €25,936 | -€12,178 | -32.0% |
| Taxes | 450/3 | €38,114 | €25,936 | -€12,178 | -32.0% |
| Other amounts payable | 47/48 | €390,165 | €390,165 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €254,559 | €254,559 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €32 | €158 | +€126 | +396.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,463 | €42,610 | -€26,854 | -38.7% |
| Other operating charges | 640/8 | €61,891 | €30,561 | -€31,329 | -50.6% |
| Gross operating margin | 9900 | €109,931 | €415,441 | +€305,510 | +277.9% |
| Operating profit (loss) | 9901 | -€21,455 | €342,112 | +€363,566 | |
| Financial income | 75/76B | €55,603 | €14 | -€55,589 | -100.0% |
| Recurring financial income | 75 | €53,833 | €14 | -€53,819 | -100.0% |
| Non-recurring financial income | 76B | €1,771 | - | -€1,771 | |
| Financial charges | 65/66B | €42,840 | €62,063 | +€19,223 | +44.9% |
| Recurring financial charges | 65 | €42,840 | €62,063 | +€19,223 | +44.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,691 | €280,063 | +€288,754 | |
| Transfer from deferred taxes | 780 | €1,065 | €1,065 | = | 0.0% |
| Income taxes | 67/77 | €6,036 | €79,988 | +€73,952 | +1225.2% |
| Profit (loss) for the period | 9904 | -€13,662 | €201,140 | +€214,802 | |
| Transfer from tax-exempt reserves | 789 | €2,535 | €2,535 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,127 | €203,675 | +€214,802 |
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 8 October 2026 via checked.be.