CARPAL: 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.
What changed
CARPAL
NACE 46.900, Non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€601,822
2024 · €667,991-€66,169
Equity
€7.9m
2024 · €7.3m+€601,822
Cash
€250,783
2024 · €149,051+€101,732
Balance sheet total
€9.1m
2024 · €8.9m+€188,030
Largest movements
Assets
- Stocks and contracts +€298,271
up €298,271 (+46.3%), from €643,580 to €941,850
- Tangible fixed assets -€218,087
down €218,087 (-28.2%), from €774,655 to €556,568
of which Furniture and vehicles: -€133,686
- Cash +€101,732
up €101,732 (+68.3%), from €149,051 to €250,783
mainly Net result for the year (+€601,822) and Depreciation (+€184,884)
Equity and liabilities
- Reserves +€601,822
up €601,822 (+8.3%), from €7.3m to €7.9m
of which Distributable reserves: +€1.2m
- Short-term financial debts -€295,784
down €295,784 (-31.4%), from €942,786 to €647,003
of which Other loans: -€295,784
- Accrued charges and deferred income -€99,185
down €99,185 (-100%), from €99,185 to €0
Income statement
- Taxes +€52,208
up €52,208 (+16.5%), from €316,471 to €368,679
- Staff costs +€15,839
up €15,839 (+4.9%), from €325,389 to €341,228
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.
Result 2024
€667,991
Gross operating margin
-€13,993
Staff costs
-€15,839
Depreciation
-€2,248
Other operating charges
+€10,424
Financial income
+€8,194
Financial charges
-€499
Taxes
-€52,208
Result 2025
€601,822
raises the resultlowers the result
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.
From operations
+€389,188
Investment
+€36,503
Financing
-€323,959
Cash 2024
€149,051
From operations (derived)
+€389,188
Net result for the year
+€601,822
Depreciation
+€184,884
Stocks and contracts
-€298,271
Receivables within one year
-€2,423
Deferred charges and accrued income
-€6,990
Trade debts
+€78,618
Tax, wage and social debts
-€69,267
Accrued charges and deferred income
-€99,185
Investment (derived)
+€36,503
Investment in fixed assets (net)
+€36,503
Financing
-€323,959
Debts after one year
-€1,500
Current portion of long-term debt
-€26,675
Short-term financial debts
-€295,784
Cash 2025
€250,783
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,923,598 | €9,111,628 | +€188,030 | +2.1% |
| Fixed assets | 21/28 | €777,955 | €556,568 | -€221,387 | -28.5% |
| Tangible fixed assets | 22/27 | €774,655 | €556,568 | -€218,087 | -28.2% |
| Plant, machinery and equipment | 23 | €244,281 | €185,710 | -€58,571 | -24.0% |
| Furniture and vehicles | 24 | €391,878 | €258,192 | -€133,686 | -34.1% |
| Other tangible fixed assets | 26 | €138,495 | €112,666 | -€25,829 | -18.7% |
| Financial fixed assets | 28 | €3,300 | €0 | -€3,300 | -100% |
| Current assets | 29/58 | €8,145,643 | €8,555,060 | +€409,416 | +5.0% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,000,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €643,580 | €941,850 | +€298,271 | +46.3% |
| Stocks | 30/36 | €643,580 | €941,850 | +€298,271 | +46.3% |
| Amounts receivable within one year | 40/41 | €6,317,721 | €6,320,144 | +€2,423 | 0.0% |
| Trade receivables | 40 | €6,229,763 | €6,259,879 | +€30,116 | +0.5% |
| Other amounts receivable | 41 | €87,958 | €60,265 | -€27,693 | -31.5% |
| Cash at bank and in hand | 54/58 | €149,051 | €250,783 | +€101,732 | +68.3% |
| Deferred charges and accrued income | 490/1 | €35,292 | €42,282 | +€6,990 | +19.8% |
| Total equity and liabilities | 10/49 | €8,923,598 | €9,111,628 | +€188,030 | +2.1% |
| Equity | 10/15 | €7,316,038 | €7,917,860 | +€601,822 | +8.2% |
| 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 | €7,254,038 | €7,855,860 | +€601,822 | +8.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €704,000 | €72,500 | -€631,500 | -89.7% |
| Distributable reserves | 133 | €6,543,838 | €7,777,160 | +€1.2m | +18.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,607,560 | €1,193,767 | -€413,793 | -25.7% |
| Amounts payable after more than one year | 17 | €1,500 | €0 | -€1,500 | -100% |
| Financial debts | 170/4 | €1,500 | €0 | -€1,500 | -100% |
| Amounts payable within one year | 42/48 | €1,506,875 | €1,193,767 | -€313,108 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €28,175 | €1,500 | -€26,675 | -94.7% |
| Financial debts | 43 | €942,786 | €647,003 | -€295,784 | -31.4% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €942,786 | €647,003 | -€295,784 | -31.4% |
| Trade debts | 44 | €190,677 | €269,295 | +€78,618 | +41.2% |
| Suppliers | 440/4 | €190,677 | €269,295 | +€78,618 | +41.2% |
| Taxes, remuneration and social security | 45 | €345,236 | €275,970 | -€69,267 | -20.1% |
| Taxes | 450/3 | €318,220 | €234,783 | -€83,438 | -26.2% |
| Remuneration and social security | 454/9 | €27,016 | €41,187 | +€14,171 | +52.5% |
| Accrued charges and deferred income | 492/3 | €99,185 | €0 | -€99,185 | -100% |
| Non-recurring operating income | 76A | €2,000 | €34,797 | +€32,797 | +1,640% |
| Remuneration, social security and pensions | 62 | €325,389 | €341,228 | +€15,839 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,636 | €184,884 | +€2,248 | +1.2% |
| Other operating charges | 640/8 | €20,831 | €10,407 | -€10,424 | -50.0% |
| Gross operating margin | 9900 | €1,545,043 | €1,531,050 | -€13,993 | -0.9% |
| Operating profit (loss) | 9901 | €1,016,186 | €994,531 | -€21,655 | -2.1% |
| Financial income | 75/76B | €29,284 | €37,478 | +€8,194 | +28.0% |
| Recurring financial income | 75 | €29,284 | €37,478 | +€8,194 | +28.0% |
| Financial charges | 65/66B | €61,008 | €61,507 | +€499 | +0.8% |
| Recurring financial charges | 65 | €61,008 | €61,507 | +€499 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €984,462 | €970,501 | -€13,961 | -1.4% |
| Income taxes | 67/77 | €316,471 | €368,679 | +€52,208 | +16.5% |
| Profit (loss) for the period | 9904 | €667,991 | €601,822 | -€66,169 | -9.9% |
| Transfer from tax-exempt reserves | 789 | - | €631,500 | +€631,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €667,991 | €1,233,322 | +€565,331 | +84.6% |
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 19 October 2026 via checked.be.