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 -€33,140
down €33,140 (-3.3%), from €1.0m to €969,191
- Cash +€19,832
up €19,832 (+30.5%), from €64,980 to €84,811
mainly Depreciation (+€33,140) and Trade debts (+€24,507)
- Debts after one year -€68,539
down €68,539 (-12.0%), from €572,043 to €503,504
- Trade debts +€24,507
up €24,507 (+3525.4%), from €695 to €25,202
- Other debts +€22,704
up €22,704 (+12.7%), from €179,440 to €202,145
- Financial charges +€3,232
up €3,232 (+15.0%), from €21,556 to €24,788
- Other operating charges +€1,963
up €1,963 (+14.1%), from €13,955 to €15,919
- Gross operating margin -€1,048
down €1,048 (-1.3%), from €82,974 to €81,926
- Taxes -€966
down €966 (-30.9%), from €3,122 to €2,156
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 | €1,067,311 | €1,054,002 | -€13,309 | -1.2% |
| Fixed assets | 21/28 | €1,002,331 | €969,191 | -€33,140 | -3.3% |
| Tangible fixed assets | 22/27 | €1,002,331 | €969,191 | -€33,140 | -3.3% |
| Land and buildings | 22 | €1,002,331 | €969,191 | -€33,140 | -3.3% |
| Current assets | 29/58 | €64,980 | €84,811 | +€19,832 | +30.5% |
| Amounts receivable within one year | 40/41 | €0 | €0 | = | 0.0% |
| Trade receivables | 40 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,980 | €84,811 | +€19,832 | +30.5% |
| Total equity and liabilities | 10/49 | €1,067,311 | €1,054,002 | -€13,309 | -1.2% |
| Equity | 10/15 | €246,488 | €252,411 | +€5,923 | +2.4% |
| Contributions | 10/11 | €205,697 | €205,697 | = | 0.0% |
| Outside capital | 11 | €205,697 | €205,697 | = | 0.0% |
| Other | 1109/19 | €205,697 | €205,697 | = | 0.0% |
| Reserves | 13 | €7,153 | €7,153 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,747 | €6,747 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,747 | €6,747 | = | 0.0% |
| Distributable reserves | 133 | €406 | €406 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,638 | €39,561 | +€5,923 | +17.6% |
| Amounts payable | 17/49 | €820,823 | €801,591 | -€19,232 | -2.3% |
| Amounts payable after more than one year | 17 | €572,043 | €503,504 | -€68,539 | -12.0% |
| Financial debts | 170/4 | €572,043 | €503,504 | -€68,539 | -12.0% |
| Amounts payable within one year | 42/48 | €248,780 | €298,087 | +€49,307 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €64,663 | €68,505 | +€3,843 | +5.9% |
| Trade debts | 44 | €695 | €25,202 | +€24,507 | +3525.4% |
| Suppliers | 440/4 | €695 | €25,202 | +€24,507 | +3525.4% |
| Taxes, remuneration and social security | 45 | €3,982 | €2,235 | -€1,747 | -43.9% |
| Taxes | 450/3 | €3,982 | €2,235 | -€1,747 | -43.9% |
| Other amounts payable | 47/48 | €179,440 | €202,145 | +€22,704 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,141 | €33,140 | -€1 | 0.0% |
| Other operating charges | 640/8 | €13,955 | €15,919 | +€1,963 | +14.1% |
| Gross operating margin | 9900 | €82,974 | €81,926 | -€1,048 | -1.3% |
| Operating profit (loss) | 9901 | €35,878 | €32,868 | -€3,011 | -8.4% |
| Financial charges | 65/66B | €21,556 | €24,788 | +€3,232 | +15.0% |
| Recurring financial charges | 65 | €21,556 | €24,788 | +€3,232 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €14,322 | €8,079 | -€6,243 | -43.6% |
| Income taxes | 67/77 | €3,122 | €2,156 | -€966 | -30.9% |
| Profit (loss) for the period | 9904 | €11,200 | €5,923 | -€5,277 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,200 | €5,923 | -€5,277 | -47.1% |
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 3 October 2026 via checked.be.