CARPA: 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.
CARPA
Largest movements
- Receivables after one year +€25,000
new in 2025: €25,000
- Cash +€13,050
up €13,050 (+117.9%), from €11,071 to €24,120
mainly Net result for the year (+€51,097) and Depreciation (+€10,701)
- Receivables within one year +€11,723
up €11,723 (+210.4%), from €5,572 to €17,295
of which Other amounts receivable: +€9,273
- Tangible fixed assets +€8,841
up €8,841 (+6.4%), from €138,139 to €146,979
of which Plant, machinery and equipment: +€16,641
- Reserves +€51,000
up €51,000 (+293.1%), from €17,400 to €68,400
- Tax, wage and social debts +€7,500
up €7,500 (+40.3%), from €18,621 to €26,121
- Debts after one year -€7,055
down €7,055 (-34.4%), from €20,501 to €13,446
- Current portion of long-term debt +€5,790
up €5,790 (+29.6%), from €19,588 to €25,378
- Financial income +€25,638
new in 2025: €25,638
- Gross operating margin +€14,307
up €14,307 (+32.3%), from €44,307 to €58,614
- Taxes +€6,174
up €6,174 (+61.9%), from €9,974 to €16,147
- Depreciation +€1,516
up €1,516 (+16.5%), from €9,186 to €10,701
- Financial charges -€687
down €687 (-16.6%), from €4,151 to €3,463
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 | €474,984 | €534,068 | +€59,084 | +12.4% |
| Fixed assets | 21/28 | €458,139 | €466,979 | +€8,841 | +1.9% |
| Tangible fixed assets | 22/27 | €138,139 | €146,979 | +€8,841 | +6.4% |
| Land and buildings | 22 | €136,475 | €128,675 | -€7,800 | -5.7% |
| Plant, machinery and equipment | 23 | €1,664 | €18,304 | +€16,641 | +1000.2% |
| Financial fixed assets | 28 | €320,000 | €320,000 | = | 0.0% |
| Current assets | 29/58 | €16,845 | €67,089 | +€50,244 | +298.3% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €5,572 | €17,295 | +€11,723 | +210.4% |
| Trade receivables | 40 | €5,500 | €7,950 | +€2,450 | +44.5% |
| Other amounts receivable | 41 | €72 | €9,345 | +€9,273 | +12827.6% |
| Cash at bank and in hand | 54/58 | €11,071 | €24,120 | +€13,050 | +117.9% |
| Deferred charges and accrued income | 490/1 | €202 | €673 | +€471 | +233.0% |
| Total equity and liabilities | 10/49 | €474,984 | €534,068 | +€59,084 | +12.4% |
| Equity | 10/15 | €414,870 | €465,967 | +€51,097 | +12.3% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €17,400 | €68,400 | +€51,000 | +293.1% |
| Distributable reserves | 133 | €17,400 | €68,400 | +€51,000 | +293.1% |
| Profit (loss) carried forward | 14 | €383,210 | €383,307 | +€97 | 0.0% |
| Amounts payable | 17/49 | €60,114 | €68,101 | +€7,987 | +13.3% |
| Amounts payable after more than one year | 17 | €20,501 | €13,446 | -€7,055 | -34.4% |
| Financial debts | 170/4 | €20,501 | €13,446 | -€7,055 | -34.4% |
| Amounts payable within one year | 42/48 | €39,612 | €54,654 | +€15,042 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €19,588 | €25,378 | +€5,790 | +29.6% |
| Trade debts | 44 | €1,404 | €2,971 | +€1,567 | +111.7% |
| Suppliers | 440/4 | €1,404 | €2,971 | +€1,567 | +111.7% |
| Taxes, remuneration and social security | 45 | €18,621 | €26,121 | +€7,500 | +40.3% |
| Taxes | 450/3 | €18,621 | €26,121 | +€7,500 | +40.3% |
| Other amounts payable | 47/48 | - | €185 | +€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,186 | €10,701 | +€1,516 | +16.5% |
| Other operating charges | 640/8 | €3,509 | €2,843 | -€666 | -19.0% |
| Gross operating margin | 9900 | €44,307 | €58,614 | +€14,307 | +32.3% |
| Operating profit (loss) | 9901 | €31,612 | €45,070 | +€13,458 | +42.6% |
| Financial income | 75/76B | - | €25,638 | +€25,638 | |
| Recurring financial income | 75 | - | €25,638 | +€25,638 | |
| Financial charges | 65/66B | €4,151 | €3,463 | -€687 | -16.6% |
| Recurring financial charges | 65 | €4,151 | €3,463 | -€687 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €27,461 | €67,245 | +€39,783 | +144.9% |
| Income taxes | 67/77 | €9,974 | €16,147 | +€6,174 | +61.9% |
| Profit (loss) for the period | 9904 | €17,488 | €51,097 | +€33,609 | +192.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,488 | €51,097 | +€33,609 | +192.2% |
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 6 October 2026 via checked.be.