CARNOX: 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.
CARNOX
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Receivables within one year +€356,096
up €356,096 (+237.4%), from €150,000 to €506,096
of which Other amounts receivable: +€415,346
- Cash -€39,840
down €39,840 (-35.1%), from €113,425 to €73,585
mainly Contributions, distributions and other (-€652,264) and Receivables within one year (-€356,096)
- Other debts +€501,101
up €501,101 (+3443991.0%), from €15 to €501,115
- Reserves -€498,799
down €498,799 (-43.2%), from €1.2m to €654,531
of which Distributable reserves: -€498,799
- Tax, wage and social debts -€101,758
down €101,758 (-81.1%), from €125,490 to €23,732
of which Taxes: -€105,362
- Gross operating margin -€155,471
down €155,471 (-40.6%), from €383,063 to €227,592
- Taxes -€50,333
down €50,333 (-41.1%), from €122,513 to €72,179
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 | €2,198,687 | €2,112,746 | -€85,941 | -3.9% |
| Fixed assets | 21/28 | €1,531,065 | €1,531,065 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Land and buildings | 22 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,531,065 | €1,531,065 | = | 0.0% |
| Current assets | 29/58 | €667,623 | €581,681 | -€85,941 | -12.9% |
| Amounts receivable within one year | 40/41 | €150,000 | €506,096 | +€356,096 | +237.4% |
| Trade receivables | 40 | €150,000 | €90,750 | -€59,250 | -39.5% |
| Other amounts receivable | 41 | - | €415,346 | +€415,346 | |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €113,425 | €73,585 | -€39,840 | -35.1% |
| Deferred charges and accrued income | 490/1 | €4,197 | €2,000 | -€2,197 | -52.4% |
| Total equity and liabilities | 10/49 | €2,198,687 | €2,112,746 | -€85,941 | -3.9% |
| Equity | 10/15 | €2,032,239 | €1,533,440 | -€498,799 | -24.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,153,330 | €654,531 | -€498,799 | -43.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,147,180 | €648,381 | -€498,799 | -43.5% |
| Profit (loss) carried forward | 14 | €817,409 | €817,409 | = | 0.0% |
| Amounts payable | 17/49 | €166,448 | €579,306 | +€412,858 | +248.0% |
| Amounts payable within one year | 42/48 | €133,783 | €533,700 | +€399,917 | +298.9% |
| Trade debts | 44 | €8,278 | €8,853 | +€575 | +6.9% |
| Suppliers | 440/4 | €8,278 | €8,853 | +€575 | +6.9% |
| Taxes, remuneration and social security | 45 | €125,490 | €23,732 | -€101,758 | -81.1% |
| Taxes | 450/3 | €125,490 | €20,128 | -€105,362 | -84.0% |
| Remuneration and social security | 454/9 | - | €3,604 | +€3,604 | |
| Other amounts payable | 47/48 | €15 | €501,115 | +€501,101 | +3443991.0% |
| Accrued charges and deferred income | 492/3 | €32,665 | €45,606 | +€12,941 | +39.6% |
| Other operating charges | 640/8 | €1,861 | €1,647 | -€214 | -11.5% |
| Gross operating margin | 9900 | €383,063 | €227,592 | -€155,471 | -40.6% |
| Operating profit (loss) | 9901 | €381,202 | €225,945 | -€155,257 | -40.7% |
| Financial income | 75/76B | €3,139 | - | -€3,139 | |
| Recurring financial income | 75 | €3,139 | - | -€3,139 | |
| Financial charges | 65/66B | €168 | €301 | +€133 | +78.9% |
| Recurring financial charges | 65 | €168 | €301 | +€133 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | €384,173 | €225,644 | -€158,529 | -41.3% |
| Income taxes | 67/77 | €122,513 | €72,179 | -€50,333 | -41.1% |
| Profit (loss) for the period | 9904 | €261,660 | €153,464 | -€108,196 | -41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €261,660 | €153,464 | -€108,196 | -41.3% |
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.