CARPELEX: 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.
CARPELEX
Largest movements
- Cash +€39,580
up €39,580 (+29.7%), from €133,073 to €172,653
mainly Net result for the year (+€38,750) and Depreciation (+€954)
- Reserves +€38,750
up €38,750 (+27.4%), from €141,261 to €180,011
- Financial income +€3,033
up €3,033, from €0 to €3,033
of which Financial income: +€3,033
- Gross operating margin -€1,449
down €1,449 (-2.6%), from €54,938 to €53,489
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 | €161,536 | €200,571 | +€39,035 | +24.2% |
| Fixed assets | 21/28 | €13,335 | €12,381 | -€954 | -7.2% |
| Tangible fixed assets | 22/27 | €13,335 | €12,381 | -€954 | -7.2% |
| Land and buildings | 22 | €13,335 | €12,381 | -€954 | -7.2% |
| Current assets | 29/58 | €148,201 | €188,190 | +€39,989 | +27.0% |
| Amounts receivable within one year | 40/41 | €13,120 | €13,496 | +€375 | +2.9% |
| Trade receivables | 40 | €13,120 | €13,496 | +€375 | +2.9% |
| Cash at bank and in hand | 54/58 | €133,073 | €172,653 | +€39,580 | +29.7% |
| Deferred charges and accrued income | 490/1 | €2,007 | €2,041 | +€34 | +1.7% |
| Total equity and liabilities | 10/49 | €161,536 | €200,571 | +€39,035 | +24.2% |
| Equity | 10/15 | €146,261 | €185,011 | +€38,750 | +26.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €141,261 | €180,011 | +€38,750 | +27.4% |
| Distributable reserves | 133 | €141,261 | €180,011 | +€38,750 | +27.4% |
| Amounts payable | 17/49 | €15,275 | €15,560 | +€285 | +1.9% |
| Amounts payable within one year | 42/48 | €15,275 | €15,560 | +€285 | +1.9% |
| Trade debts | 44 | €189 | €0 | -€189 | -100.0% |
| Suppliers | 440/4 | €189 | €0 | -€189 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,789 | €13,687 | +€898 | +7.0% |
| Taxes | 450/3 | €12,789 | €13,687 | +€898 | +7.0% |
| Other amounts payable | 47/48 | €2,297 | €1,873 | -€424 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €954 | €954 | = | 0.0% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €54,938 | €53,489 | -€1,449 | -2.6% |
| Operating profit (loss) | 9901 | €53,414 | €51,949 | -€1,465 | -2.7% |
| Financial income | 75/76B | €0 | €3,033 | +€3,033 | |
| Recurring financial income | 75 | €0 | €3,033 | +€3,033 | |
| Non-recurring financial income | 76B | - | €3,033 | +€3,033 | |
| Financial charges | 65/66B | €938 | €612 | -€326 | -34.7% |
| Recurring financial charges | 65 | €938 | €612 | -€326 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €52,477 | €54,370 | +€1,894 | +3.6% |
| Income taxes | 67/77 | €15,164 | €15,620 | +€456 | +3.0% |
| Profit (loss) for the period | 9904 | €37,313 | €38,750 | +€1,437 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,313 | €38,750 | +€1,437 | +3.9% |
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.