CARNIVEX: what changed
Two financial 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.
CARNIVEX
Largest movements
- Receivables within one year -€43,926
down €43,926 (-9.5%), from €464,579 to €420,654
of which Other amounts receivable: -€42,559
- Tangible fixed assets -€18,270
down €18,270 (-24.9%), from €73,513 to €55,243
of which Plant, machinery and equipment: -€10,267
- Cash +€12,144
up €12,144 (+49.0%), from €24,773 to €36,917
mainly Tax, wage and social debts (+€57,396) and Receivables within one year (+€43,926)
- Tax, wage and social debts +€57,396
up €57,396 (+113%), from €50,944 to €108,340
of which Taxes: +€39,859
- Trade debts -€41,191
down €41,191 (-9.4%), from €440,267 to €399,075
- Accrued charges and deferred income -€38,410
no longer reported in 2025 (was €38,410)
- Profit (loss) carried forward -€26,408
down €26,408, from €17,306 to -€9,102
- Staff costs +€69,205
up €69,205 (+20.4%), from €339,276 to €408,481
- Gross operating margin +€57,189
up €57,189 (+16.3%), from €350,477 to €407,665
- Financial income -€5,929
down €5,929 (-51.5%), from €11,511 to €5,582
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.
Derived cash bridge
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 | €615,127 | €566,513 | -€48,614 | -7.9% |
| Fixed assets | 21/28 | €73,513 | €55,243 | -€18,270 | -24.9% |
| Tangible fixed assets | 22/27 | €73,513 | €55,243 | -€18,270 | -24.9% |
| Plant, machinery and equipment | 23 | €50,251 | €39,984 | -€10,267 | -20.4% |
| Furniture and vehicles | 24 | €5,212 | €2,695 | -€2,517 | -48.3% |
| Other tangible fixed assets | 26 | €18,050 | €12,564 | -€5,486 | -30.4% |
| Current assets | 29/58 | €541,614 | €511,270 | -€30,345 | -5.6% |
| Stocks and contracts in progress | 3 | €52,262 | €53,699 | +€1,437 | +2.7% |
| Stocks | 30/36 | €52,262 | €53,699 | +€1,437 | +2.7% |
| Amounts receivable within one year | 40/41 | €464,579 | €420,654 | -€43,926 | -9.5% |
| Trade receivables | 40 | €79,154 | €77,786 | -€1,367 | -1.7% |
| Other amounts receivable | 41 | €385,426 | €342,867 | -€42,559 | -11.0% |
| Cash at bank and in hand | 54/58 | €24,773 | €36,917 | +€12,144 | +49.0% |
| Total equity and liabilities | 10/49 | €615,127 | €566,513 | -€48,614 | -7.9% |
| Equity | 10/15 | €85,506 | €59,098 | -€26,408 | -30.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,306 | -€9,102 | -€26,408 | |
| Amounts payable | 17/49 | €529,621 | €507,415 | -€22,206 | -4.2% |
| Amounts payable within one year | 42/48 | €491,211 | €507,415 | +€16,204 | +3.3% |
| Trade debts | 44 | €440,267 | €399,075 | -€41,191 | -9.4% |
| Suppliers | 440/4 | €440,267 | €399,075 | -€41,191 | -9.4% |
| Taxes, remuneration and social security | 45 | €50,944 | €108,340 | +€57,396 | +113% |
| Taxes | 450/3 | €1,340 | €41,199 | +€39,859 | +2,975% |
| Remuneration and social security | 454/9 | €49,605 | €67,141 | +€17,537 | +35.4% |
| Accrued charges and deferred income | 492/3 | €38,410 | - | -€38,410 | |
| Remuneration, social security and pensions | 62 | €339,276 | €408,481 | +€69,205 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,123 | €24,752 | -€371 | -1.5% |
| Other operating charges | 640/8 | €6,137 | €5,686 | -€451 | -7.3% |
| Gross operating margin | 9900 | €350,477 | €407,665 | +€57,189 | +16.3% |
| Operating profit (loss) | 9901 | -€20,059 | -€31,253 | -€11,194 | -55.8% |
| Financial income | 75/76B | €11,511 | €5,582 | -€5,929 | -51.5% |
| Recurring financial income | 75 | €11,511 | €5,582 | -€5,929 | -51.5% |
| Financial charges | 65/66B | €385 | €462 | +€77 | +20.0% |
| Recurring financial charges | 65 | €385 | €462 | +€77 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,933 | -€26,134 | -€17,200 | -193% |
| Income taxes | 67/77 | €591 | €275 | -€316 | -53.5% |
| Profit (loss) for the period | 9904 | -€9,524 | -€26,408 | -€16,885 | -177% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,524 | -€26,408 | -€16,885 | -177% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.