CARNAT: 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.
CARNAT
Largest movements
- Tangible fixed assets +€123,312
up €123,312 (+50.4%), from €244,898 to €368,210
of which Furniture and vehicles: +€65,809
- Cash -€45,966
down €45,966 (-88.5%), from €51,964 to €5,998
mainly Investment in fixed assets (net) (-€137,834) and Trade debts (-€10,960)
- Other debts +€71,160
up €71,160 (+332.6%), from €21,398 to €92,558
- Debts after one year +€15,835
new in 2025: €15,835
- Trade debts -€10,960
no longer reported in 2025 (was €10,960)
- Current portion of long-term debt +€9,805
new in 2025: €9,805
- Accrued charges and deferred income -€7,000
no longer reported in 2025 (was €7,000)
- Gross operating margin -€2,708
down €2,708 (-11.9%), from €22,766 to €20,058
- Financial income +€853
new in 2025: €853
- Purchases and services +€776
up €776 (+3.4%), from €22,752 to €23,528
- Depreciation +€727
up €727 (+5.3%), from €13,795 to €14,522
- Financial charges +€360
up €360 (+346.2%), from €104 to €464
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 | €301,944 | €379,290 | +€77,346 | +25.6% |
| Fixed assets | 21/28 | €244,898 | €368,210 | +€123,312 | +50.4% |
| Tangible fixed assets | 22/27 | €244,898 | €368,210 | +€123,312 | +50.4% |
| Land and buildings | 22 | €244,898 | €265,392 | +€20,494 | +8.4% |
| Plant, machinery and equipment | 23 | - | €37,009 | +€37,009 | |
| Furniture and vehicles | 24 | - | €65,809 | +€65,809 | |
| Current assets | 29/58 | €57,046 | €11,080 | -€45,966 | -80.6% |
| Stocks and contracts in progress | 3 | €5,082 | €5,082 | = | 0.0% |
| Stocks | 30/36 | €5,082 | €5,082 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,964 | €5,998 | -€45,966 | -88.5% |
| Total equity and liabilities | 10/49 | €301,944 | €379,290 | +€77,346 | +25.6% |
| Equity | 10/15 | €257,696 | €256,202 | -€1,494 | -0.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,245 | €235,751 | -€1,494 | -0.6% |
| Amounts payable | 17/49 | €44,248 | €123,088 | +€78,840 | +178.2% |
| Amounts payable after more than one year | 17 | - | €15,835 | +€15,835 | |
| Financial debts | 170/4 | - | €15,835 | +€15,835 | |
| Amounts payable within one year | 42/48 | €37,248 | €107,253 | +€70,005 | +187.9% |
| Current portion of amounts payable after more than one year | 42 | - | €9,805 | +€9,805 | |
| Trade debts | 44 | €10,960 | - | -€10,960 | |
| Suppliers | 440/4 | €10,960 | - | -€10,960 | |
| Advances received on contracts in progress | 46 | €4,890 | €4,890 | = | 0.0% |
| Other amounts payable | 47/48 | €21,398 | €92,558 | +€71,160 | +332.6% |
| Accrued charges and deferred income | 492/3 | €7,000 | - | -€7,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €22,752 | €23,528 | +€776 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,795 | €14,522 | +€727 | +5.3% |
| Other operating charges | 640/8 | €7,322 | €7,262 | -€60 | -0.8% |
| Gross operating margin | 9900 | €22,766 | €20,058 | -€2,708 | -11.9% |
| Operating profit (loss) | 9901 | €1,649 | -€1,726 | -€3,375 | |
| Financial income | 75/76B | - | €853 | +€853 | |
| Recurring financial income | 75 | - | €853 | +€853 | |
| Financial charges | 65/66B | €104 | €464 | +€360 | +346.2% |
| Recurring financial charges | 65 | €104 | €464 | +€360 | +346.2% |
| Profit (loss) for the period before taxes | 9903 | €1,545 | -€1,337 | -€2,882 | |
| Income taxes | 67/77 | - | €157 | +€157 | |
| Profit (loss) for the period | 9904 | €1,545 | -€1,494 | -€3,039 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,545 | -€1,494 | -€3,039 |
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.