CARPAS: 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.
CARPAS
Largest movements
- Cash -€30,869
down €30,869 (-23.0%), from €134,395 to €103,526
mainly Investment in fixed assets (net) (-€41,510) and Debts after one year (-€12,116)
- Tangible fixed assets +€18,209
up €18,209 (+23.2%), from €78,512 to €96,720
of which Furniture and vehicles: +€25,066
- Receivables within one year -€14,446
no longer reported in 2025 (was €14,446)
- Stocks and contracts +€4,187
up €4,187 (+69.0%), from €6,068 to €10,255
- Debts after one year -€12,116
down €12,116 (-23.7%), from €51,163 to €39,046
- Tax, wage and social debts -€6,918
down €6,918 (-14.0%), from €49,517 to €42,599
of which Remuneration and social security: -€7,897
- Trade debts -€3,300
down €3,300 (-17.0%), from €19,370 to €16,070
- Gross operating margin +€23,069
up €23,069 (+7.2%), from €319,684 to €342,753
- Depreciation +€10,711
up €10,711 (+85.1%), from €12,591 to €23,302
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 | €236,800 | €214,803 | -€21,997 | -9.3% |
| Fixed assets | 21/28 | €78,512 | €96,720 | +€18,209 | +23.2% |
| Tangible fixed assets | 22/27 | €78,512 | €96,720 | +€18,209 | +23.2% |
| Plant, machinery and equipment | 23 | €6,264 | €4,487 | -€1,777 | -28.4% |
| Furniture and vehicles | 24 | €4,333 | €29,399 | +€25,066 | +578.4% |
| Other tangible fixed assets | 26 | €67,915 | €62,834 | -€5,081 | -7.5% |
| Current assets | 29/58 | €158,288 | €118,082 | -€40,206 | -25.4% |
| Stocks and contracts in progress | 3 | €6,068 | €10,255 | +€4,187 | +69.0% |
| Stocks | 30/36 | €6,068 | €10,255 | +€4,187 | +69.0% |
| Amounts receivable within one year | 40/41 | €14,446 | - | -€14,446 | |
| Trade receivables | 40 | €14,446 | - | -€14,446 | |
| Cash at bank and in hand | 54/58 | €134,395 | €103,526 | -€30,869 | -23.0% |
| Deferred charges and accrued income | 490/1 | €3,378 | €4,301 | +€923 | +27.3% |
| Total equity and liabilities | 10/49 | €236,800 | €214,803 | -€21,997 | -9.3% |
| Equity | 10/15 | €102,292 | €104,181 | +€1,890 | +1.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €82,292 | €84,181 | +€1,890 | +2.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €80,292 | €82,181 | +€1,890 | +2.4% |
| Amounts payable | 17/49 | €134,508 | €110,621 | -€23,887 | -17.8% |
| Amounts payable after more than one year | 17 | €51,163 | €39,046 | -€12,116 | -23.7% |
| Financial debts | 170/4 | €51,163 | €39,046 | -€12,116 | -23.7% |
| Amounts payable within one year | 42/48 | €82,156 | €71,575 | -€10,581 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €11,861 | €12,729 | +€868 | +7.3% |
| Trade debts | 44 | €19,370 | €16,070 | -€3,300 | -17.0% |
| Suppliers | 440/4 | €19,370 | €16,070 | -€3,300 | -17.0% |
| Taxes, remuneration and social security | 45 | €49,517 | €42,599 | -€6,918 | -14.0% |
| Taxes | 450/3 | €8,852 | €9,832 | +€980 | +11.1% |
| Remuneration and social security | 454/9 | €40,665 | €32,768 | -€7,897 | -19.4% |
| Other amounts payable | 47/48 | €1,408 | €177 | -€1,231 | -87.4% |
| Accrued charges and deferred income | 492/3 | €1,189 | - | -€1,189 | |
| Remuneration, social security and pensions | 62 | €311,037 | €312,332 | +€1,295 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,591 | €23,302 | +€10,711 | +85.1% |
| Other operating charges | 640/8 | €935 | €1,113 | +€178 | +19.0% |
| Gross operating margin | 9900 | €319,684 | €342,753 | +€23,069 | +7.2% |
| Operating profit (loss) | 9901 | -€4,878 | €6,007 | +€10,885 | |
| Financial income | 75/76B | €51 | €226 | +€175 | +344.2% |
| Recurring financial income | 75 | €51 | €226 | +€175 | +344.2% |
| Financial charges | 65/66B | €1,319 | €2,711 | +€1,391 | +105.4% |
| Recurring financial charges | 65 | €1,319 | €2,711 | +€1,391 | +105.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,147 | €3,522 | +€9,669 | |
| Income taxes | 67/77 | - | €1,633 | +€1,633 | |
| Profit (loss) for the period | 9904 | -€6,147 | €1,890 | +€8,036 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,147 | €1,890 | +€8,036 |
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 12 October 2026 via checked.be.