CAROVIN: what changed
CAROVIN
Largest movements
- Tangible fixed assets -€25,436
down €25,436 (-11.7%), from €217,819 to €192,383
of which Land and buildings: -€19,997
- Cash -€13,400
down €13,400 (-35.3%), from €38,010 to €24,610
mainly Debts after one year (-€42,286) and Investment in fixed assets (net) (-€23,051)
- Receivables within one year +€11,645
up €11,645 (+46.9%), from €24,828 to €36,474
- Stocks and contracts -€4,230
down €4,230 (-21.6%), from €19,550 to €15,320
- Debts after one year -€42,286
down €42,286 (-56.3%), from €75,078 to €32,793
- Trade debts +€11,372
up €11,372 (+128%), from €8,888 to €20,260
- Current portion of long-term debt -€6,131
down €6,131 (-12.7%), from €48,416 to €42,286
- Tax, wage and social debts +€3,776
up €3,776 (+49.2%), from €7,667 to €11,443
of which Taxes: +€2,842
- Gross operating margin -€21,627
down €21,627 (-17.4%), from €124,135 to €102,508
- Staff costs +€7,625
up €7,625 (+27.6%), from €27,577 to €35,202
- Taxes -€7,581
down €7,581 (-70.5%), from €10,749 to €3,169
- Depreciation +€2,271
up €2,271 (+4.9%), from €46,217 to €48,487
- Financial charges -€2,087
down €2,087 (-26.5%), from €7,870 to €5,783
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,455 | €269,034 | -€31,421 | -10.5% |
| Fixed assets | 21/28 | €218,067 | €192,631 | -€25,436 | -11.7% |
| Tangible fixed assets | 22/27 | €217,819 | €192,383 | -€25,436 | -11.7% |
| Land and buildings | 22 | €99,870 | €79,873 | -€19,997 | -20.0% |
| Plant, machinery and equipment | 23 | €85,093 | €85,366 | +€273 | +0.3% |
| Furniture and vehicles | 24 | €32,856 | €27,144 | -€5,712 | -17.4% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €82,389 | €76,404 | -€5,985 | -7.3% |
| Stocks and contracts in progress | 3 | €19,550 | €15,320 | -€4,230 | -21.6% |
| Stocks | 30/36 | €19,550 | €15,320 | -€4,230 | -21.6% |
| Amounts receivable within one year | 40/41 | €24,828 | €36,474 | +€11,645 | +46.9% |
| Other amounts receivable | 41 | €24,828 | €36,474 | +€11,645 | +46.9% |
| Cash at bank and in hand | 54/58 | €38,010 | €24,610 | -€13,400 | -35.3% |
| Total equity and liabilities | 10/49 | €300,455 | €269,034 | -€31,421 | -10.5% |
| Equity | 10/15 | €159,405 | €162,252 | +€2,847 | +1.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €56,204 | €59,004 | +€2,800 | +5.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €204 | €204 | = | 0.0% |
| Distributable reserves | 133 | €54,000 | €56,800 | +€2,800 | +5.2% |
| Profit (loss) carried forward | 14 | €83,201 | €83,248 | +€47 | +0.1% |
| Amounts payable | 17/49 | €141,050 | €106,782 | -€34,268 | -24.3% |
| Amounts payable after more than one year | 17 | €75,078 | €32,793 | -€42,286 | -56.3% |
| Financial debts | 170/4 | €75,078 | €32,793 | -€42,286 | -56.3% |
| Amounts payable within one year | 42/48 | €65,972 | €73,989 | +€8,017 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €48,416 | €42,286 | -€6,131 | -12.7% |
| Trade debts | 44 | €8,888 | €20,260 | +€11,372 | +128% |
| Suppliers | 440/4 | €8,888 | €20,260 | +€11,372 | +128% |
| Taxes, remuneration and social security | 45 | €7,667 | €11,443 | +€3,776 | +49.2% |
| Taxes | 450/3 | €7,216 | €10,058 | +€2,842 | +39.4% |
| Remuneration and social security | 454/9 | €452 | €1,386 | +€934 | +207% |
| Other amounts payable | 47/48 | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €27,577 | €35,202 | +€7,625 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,217 | €48,487 | +€2,271 | +4.9% |
| Other operating charges | 640/8 | €2,493 | €2,221 | -€272 | -10.9% |
| Non-recurring operating charges | 66A | - | €4,800 | +€4,800 | |
| Gross operating margin | 9900 | €124,135 | €102,508 | -€21,627 | -17.4% |
| Operating profit (loss) | 9901 | €47,848 | €11,798 | -€36,050 | -75.3% |
| Financial income | 75/76B | €14 | €0 | -€14 | -99.2% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -99.2% |
| Financial charges | 65/66B | €7,870 | €5,783 | -€2,087 | -26.5% |
| Recurring financial charges | 65 | €7,870 | €5,783 | -€2,087 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €39,992 | €6,016 | -€33,977 | -85.0% |
| Income taxes | 67/77 | €10,749 | €3,169 | -€7,581 | -70.5% |
| Profit (loss) for the period | 9904 | €29,243 | €2,847 | -€26,396 | -90.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,243 | €2,847 | -€26,396 | -90.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.