CARNIC: 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.
CARNIC
Largest movements
- Receivables within one year +€599,763
up €599,763 (+378.2%), from €158,575 to €758,338
of which Other amounts receivable: +€600,257
- Tangible fixed assets -€195,108
down €195,108 (-6.7%), from €2.9m to €2.7m
of which Land and buildings: -€194,967
- Cash +€104,598
up €104,598 (+148.3%), from €70,516 to €175,114
mainly Net result for the year (+€581,714) and Depreciation (+€168,303)
- Reserves +€385,234
up €385,234 (+59.8%), from €644,304 to €1.0m
of which Tax-exempt reserves: +€449,866
- Provisions +€149,955
up €149,955 (+89.5%), from €167,622 to €317,578
- Debts after one year -€137,331
down €137,331 (-6.4%), from €2.2m to €2.0m
- Profit (loss) carried forward +€131,848
up €131,848 (+29.4%), from -€448,737 to -€316,889
- Trade debts -€43,603
down €43,603 (-97.9%), from €44,560 to €958
- Gross operating margin +€799,069
up €799,069 (+391.6%), from €204,066 to €1.0m
- Other operating charges -€92,797
down €92,797 (-72.2%), from €128,458 to €35,661
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 | €3,149,639 | €3,665,531 | +€515,892 | +16.4% |
| Fixed assets | 21/28 | €2,913,325 | €2,718,216 | -€195,108 | -6.7% |
| Tangible fixed assets | 22/27 | €2,913,325 | €2,718,216 | -€195,108 | -6.7% |
| Land and buildings | 22 | €2,913,183 | €2,718,216 | -€194,967 | -6.7% |
| Plant, machinery and equipment | 23 | €106 | - | -€106 | |
| Furniture and vehicles | 24 | €36 | - | -€36 | |
| Current assets | 29/58 | €236,315 | €947,315 | +€711,000 | +300.9% |
| Amounts receivable within one year | 40/41 | €158,575 | €758,338 | +€599,763 | +378.2% |
| Trade receivables | 40 | €495 | - | -€495 | |
| Other amounts receivable | 41 | €158,080 | €758,338 | +€600,257 | +379.7% |
| Cash at bank and in hand | 54/58 | €70,516 | €175,114 | +€104,598 | +148.3% |
| Deferred charges and accrued income | 490/1 | €7,224 | €13,863 | +€6,639 | +91.9% |
| Total equity and liabilities | 10/49 | €3,149,639 | €3,665,531 | +€515,892 | +16.4% |
| Equity | 10/15 | €592,041 | €1,109,123 | +€517,082 | +87.3% |
| Contributions | 10/11 | €396,475 | €396,475 | = | 0.0% |
| Capital | 10 | €364,923 | €364,923 | = | 0.0% |
| Issued capital | 100 | €364,923 | €364,923 | = | 0.0% |
| Outside capital | 11 | €31,552 | €31,552 | = | 0.0% |
| Share premium | 1100/10 | €31,552 | €31,552 | = | 0.0% |
| Reserves | 13 | €644,304 | €1,029,537 | +€385,234 | +59.8% |
| Non-distributable reserves | 130/1 | €42,456 | €42,456 | = | 0.0% |
| Legal reserve | 130 | €42,456 | €42,456 | = | 0.0% |
| Tax-exempt reserves | 132 | €502,867 | €952,733 | +€449,866 | +89.5% |
| Distributable reserves | 133 | €98,980 | €34,348 | -€64,632 | -65.3% |
| Profit (loss) carried forward | 14 | -€448,737 | -€316,889 | +€131,848 | +29.4% |
| Provisions and deferred taxes | 16 | €167,622 | €317,578 | +€149,955 | +89.5% |
| Deferred taxes | 168 | €167,622 | €317,578 | +€149,955 | +89.5% |
| Amounts payable | 17/49 | €2,389,976 | €2,238,830 | -€151,145 | -6.3% |
| Amounts payable after more than one year | 17 | €2,160,350 | €2,023,019 | -€137,331 | -6.4% |
| Financial debts | 170/4 | €2,160,350 | €2,023,019 | -€137,331 | -6.4% |
| Amounts payable within one year | 42/48 | €214,593 | €215,811 | +€1,219 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €133,527 | €137,331 | +€3,803 | +2.8% |
| Trade debts | 44 | €44,560 | €958 | -€43,603 | -97.9% |
| Suppliers | 440/4 | €44,560 | €958 | -€43,603 | -97.9% |
| Taxes, remuneration and social security | 45 | €297 | €15 | -€281 | -94.8% |
| Taxes | 450/3 | €297 | €15 | -€281 | -94.8% |
| Other amounts payable | 47/48 | €36,208 | €77,507 | +€41,299 | +114.1% |
| Accrued charges and deferred income | 492/3 | €15,033 | - | -€15,033 | |
| Non-recurring operating income | 76A | - | €710,397 | +€710,397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,720 | €168,303 | -€3,417 | -2.0% |
| Other operating charges | 640/8 | €128,458 | €35,661 | -€92,797 | -72.2% |
| Gross operating margin | 9900 | €204,066 | €1,003,134 | +€799,069 | +391.6% |
| Operating profit (loss) | 9901 | -€96,112 | €799,170 | +€895,283 | |
| Financial income | 75/76B | €10,469 | €10,068 | -€401 | -3.8% |
| Recurring financial income | 75 | €10,469 | €10,068 | -€401 | -3.8% |
| Financial charges | 65/66B | €69,963 | €77,280 | +€7,317 | +10.5% |
| Recurring financial charges | 65 | €69,963 | €77,280 | +€7,317 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | -€155,606 | €731,959 | +€887,565 | |
| Transfer from deferred taxes | 780 | €14,457 | €27,644 | +€13,186 | +91.2% |
| Transfer to deferred taxes | 680 | - | €177,599 | +€177,599 | |
| Income taxes | 67/77 | €298 | €289 | -€9 | -3.0% |
| Profit (loss) for the period | 9904 | -€141,447 | €581,714 | +€723,161 | |
| Transfer from tax-exempt reserves | 789 | €43,372 | €82,931 | +€39,559 | +91.2% |
| Transfer to tax-exempt reserves | 689 | - | €532,797 | +€532,797 | |
| Profit (loss) for the period to be appropriated | 9905 | -€98,075 | €131,848 | +€229,923 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.