CARPE CARNEM: 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.
CARPE CARNEM
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Tangible fixed assets -€192,789
down €192,789 (-35.1%), from €548,735 to €355,946
of which Plant, machinery and equipment: -€116,147
- Receivables within one year -€22,751
down €22,751 (-47.1%), from €48,301 to €25,550
of which Trade receivables: -€32,393
- Intangible fixed assets -€15,217
no longer reported in 2025 (was €15,217)
- Reserves +€155,282
up €155,282 (+79.0%), from €196,550 to €351,832
- Trade debts -€75,501
no longer reported in 2025 (was €75,501)
- Contributions -€63,000
down €63,000 (-22.0%), from €286,000 to €223,000
- Short-term financial debts -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts -€23,161
down €23,161 (-74.6%), from €31,061 to €7,900
of which Remuneration and social security: -€20,425
- Financial income +€308,459
up €308,459 (+571,963%), from €54 to €308,513
of which Non-recurring financial income: +€308,348
- Gross operating margin -€248,521
down €248,521 (-49.0%), from €507,368 to €258,846
- Staff costs -€140,689
down €140,689 (-45.4%), from €309,609 to €168,920
- Taxes +€59,288
up €59,288 (+359%), from €16,512 to €75,800
- Depreciation -€39,302
down €39,302 (-38.2%), from €102,891 to €63,589
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €677,264 | €636,552 | -€40,712 | -6.0% |
| Fixed assets | 21/28 | €568,751 | €360,746 | -€208,006 | -36.6% |
| Intangible fixed assets | 21 | €15,217 | - | -€15,217 | |
| Tangible fixed assets | 22/27 | €548,735 | €355,946 | -€192,789 | -35.1% |
| Land and buildings | 22 | €355,729 | €326,611 | -€29,118 | -8.2% |
| Plant, machinery and equipment | 23 | €120,038 | €3,891 | -€116,147 | -96.8% |
| Furniture and vehicles | 24 | €72,967 | €25,443 | -€47,524 | -65.1% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €108,513 | €275,806 | +€167,293 | +154% |
| Stocks and contracts in progress | 3 | €4,752 | - | -€4,752 | |
| Stocks | 30/36 | €4,752 | - | -€4,752 | |
| Amounts receivable within one year | 40/41 | €48,301 | €25,550 | -€22,751 | -47.1% |
| Trade receivables | 40 | €48,285 | €15,892 | -€32,393 | -67.1% |
| Other amounts receivable | 41 | €16 | €9,658 | +€9,642 | +60,412% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €55,202 | €50,257 | -€4,946 | -9.0% |
| Deferred charges and accrued income | 490/1 | €258 | - | -€258 | |
| Total equity and liabilities | 10/49 | €677,264 | €636,552 | -€40,712 | -6.0% |
| Equity | 10/15 | €483,535 | €575,818 | +€92,283 | +19.1% |
| Contributions | 10/11 | €286,000 | €223,000 | -€63,000 | -22.0% |
| Reserves | 13 | €196,550 | €351,832 | +€155,282 | +79.0% |
| Distributable reserves | 133 | €196,550 | €351,832 | +€155,282 | +79.0% |
| Profit (loss) carried forward | 14 | €985 | €986 | +€1 | +0.1% |
| Amounts payable | 17/49 | €193,729 | €60,734 | -€132,995 | -68.7% |
| Amounts payable within one year | 42/48 | €193,729 | €60,734 | -€132,995 | -68.7% |
| Current portion of amounts payable after more than one year | 42 | €12,700 | - | -€12,700 | |
| Financial debts | 43 | €30,000 | - | -€30,000 | |
| Credit institutions | 430/8 | €30,000 | - | -€30,000 | |
| Trade debts | 44 | €75,501 | - | -€75,501 | |
| Suppliers | 440/4 | €75,501 | - | -€75,501 | |
| Taxes, remuneration and social security | 45 | €31,061 | €7,900 | -€23,161 | -74.6% |
| Taxes | 450/3 | €10,636 | €7,900 | -€2,736 | -25.7% |
| Remuneration and social security | 454/9 | €20,425 | - | -€20,425 | |
| Other amounts payable | 47/48 | €44,468 | €52,834 | +€8,366 | +18.8% |
| Remuneration, social security and pensions | 62 | €309,609 | €168,920 | -€140,689 | -45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,891 | €63,589 | -€39,302 | -38.2% |
| Other operating charges | 640/8 | €7,160 | €5,101 | -€2,059 | -28.8% |
| Gross operating margin | 9900 | €507,368 | €258,846 | -€248,521 | -49.0% |
| Operating profit (loss) | 9901 | €87,708 | €21,236 | -€66,472 | -75.8% |
| Financial income | 75/76B | €54 | €308,513 | +€308,459 | +571,963% |
| Recurring financial income | 75 | €54 | €165 | +€111 | +207% |
| Non-recurring financial income | 76B | - | €308,348 | +€308,348 | |
| Financial charges | 65/66B | €8,324 | €9,154 | +€829 | +10.0% |
| Recurring financial charges | 65 | €8,324 | €9,154 | +€829 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €79,438 | €320,596 | +€241,158 | +304% |
| Income taxes | 67/77 | €16,512 | €75,800 | +€59,288 | +359% |
| Profit (loss) for the period | 9904 | €62,926 | €244,796 | +€181,870 | +289% |
| Profit (loss) for the period to be appropriated | 9905 | €62,926 | €244,796 | +€181,870 | +289% |
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 24 October 2026 via checked.be.