Carnem: 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.
Carnem
Largest movements
- Cash -€107,401
down €107,401 (-28.9%), from €370,995 to €263,595
mainly Other debts (-€114,787) and Contributions, distributions and other (-€53,274)
- Tangible fixed assets -€12,109
down €12,109 (-47.1%), from €25,707 to €13,599
- Deferred charges and accrued income +€11,860
up €11,860 (+130.4%), from €9,096 to €20,956
- Other debts -€114,787
down €114,787 (-67.4%), from €170,342 to €55,555
- Trade debts -€9,166
down €9,166 (-97.7%), from €9,381 to €215
- Accrued charges and deferred income +€6,391
up €6,391, from €0 to €6,391
- Tax, wage and social debts +€6,124
up €6,124 (+187.2%), from €3,271 to €9,396
- Gross operating margin -€50,259
down €50,259 (-35.1%), from €143,381 to €93,121
- Taxes -€22,337
down €22,337 (-53.4%), from €41,837 to €19,500
- Financial charges +€6,242
up €6,242 (+1800.5%), from €347 to €6,589
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 | €410,127 | €298,690 | -€111,437 | -27.2% |
| Fixed assets | 21/28 | €25,747 | €13,639 | -€12,109 | -47.0% |
| Tangible fixed assets | 22/27 | €25,707 | €13,599 | -€12,109 | -47.1% |
| Furniture and vehicles | 24 | €25,707 | €13,599 | -€12,109 | -47.1% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €384,380 | €285,051 | -€99,329 | -25.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €4,288 | €500 | -€3,788 | -88.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,288 | €500 | -€3,788 | -88.3% |
| Cash at bank and in hand | 54/58 | €370,995 | €263,595 | -€107,401 | -28.9% |
| Deferred charges and accrued income | 490/1 | €9,096 | €20,956 | +€11,860 | +130.4% |
| Total equity and liabilities | 10/49 | €410,127 | €298,690 | -€111,437 | -27.2% |
| Equity | 10/15 | €227,133 | €227,133 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €208,533 | €208,533 | = | 0.0% |
| Distributable reserves | 133 | €208,533 | €208,533 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €182,994 | €71,556 | -€111,437 | -60.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €182,994 | €65,166 | -€117,828 | -64.4% |
| Trade debts | 44 | €9,381 | €215 | -€9,166 | -97.7% |
| Suppliers | 440/4 | €9,381 | €215 | -€9,166 | -97.7% |
| Taxes, remuneration and social security | 45 | €3,271 | €9,396 | +€6,124 | +187.2% |
| Taxes | 450/3 | €3,271 | €9,396 | +€6,124 | +187.2% |
| Other amounts payable | 47/48 | €170,342 | €55,555 | -€114,787 | -67.4% |
| Accrued charges and deferred income | 492/3 | €0 | €6,391 | +€6,391 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,851 | €12,109 | +€258 | +2.2% |
| Other operating charges | 640/8 | €2,308 | €1,650 | -€658 | -28.5% |
| Gross operating margin | 9900 | €143,381 | €93,121 | -€50,259 | -35.1% |
| Operating profit (loss) | 9901 | €129,222 | €79,362 | -€49,859 | -38.6% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €347 | €6,589 | +€6,242 | +1800.5% |
| Recurring financial charges | 65 | €347 | €6,589 | +€6,242 | +1800.5% |
| Profit (loss) for the period before taxes | 9903 | €128,875 | €72,774 | -€56,101 | -43.5% |
| Income taxes | 67/77 | €41,837 | €19,500 | -€22,337 | -53.4% |
| Profit (loss) for the period | 9904 | €87,039 | €53,274 | -€33,765 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,039 | €53,274 | -€33,765 | -38.8% |
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.