Carpenter Europe: what changed
What changed
Carpenter Europe
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€10.9m
2024 · €6.4m+€4.5m
Equity
€424.9m
2024 · €452.2m-€27.3m
Cash
€5.7m
2024 · €3.9m+€1.9m
Balance sheet total
€474.6m
2024 · €506.1m-€31.5m
Largest movements
Assets
- Financial fixed assets -€20.5m
down €20.5m (-4.5%), from €453.7m to €433.2m
- Receivables within one year -€8.3m
down €8.3m (-30.1%), from €27.4m to €19.2m
of which Other amounts receivable: -€8.1m
- Current investments -€5.1m
down €5.1m (-26.9%), from €19.0m to €13.9m
Equity and liabilities
- Contributions -€33.1m
down €33.1m (-7.4%), from €447.2m to €414.1m
- Debts after one year +€17.0m
up €17.0m (+309%), from €5.5m to €22.5m
- Short-term financial debts -€16.9m
down €16.9m (-41.8%), from €40.5m to €23.6m
of which Other loans: -€16.9m
- Profit (loss) carried forward +€5.8m
up €5.8m (+116%), from €5.0m to €10.9m
- Other debts -€5.4m
down €5.4m (-93.8%), from €5.8m to €357,572
Income statement
- Other operating income +€7.1m
up €7.1m (+192%), from €3.7m to €10.7m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€6.4m
Staff costs
-€2.8m
Depreciation
-€12,237
Provisions
-€3,356
Other operating charges
-€1.2m
Other operating items
+€3.4m
Financial income
+€4.8m
Financial charges
+€248,290
Taxes
-€1,785
Result 2025
€10.9m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€14.3m
Investment
+€25.6m
Financing
-€38.1m
Cash 2024
€3.9m
From operations (derived)
+€14.3m
Net result for the year
+€10.9m
Depreciation
+€102,311
Receivables within one year
+€8.3m
Deferred charges and accrued income
-€603,678
Provisions
+€40,306
Trade debts
+€650,152
Tax, wage and social debts
+€632,027
Other debts
-€5.4m
Accrued charges and deferred income
-€186,528
Investment (derived)
+€25.6m
Investment in fixed assets (net)
+€20.5m
Current investments
+€5.1m
Financing
-€38.1m
Debts after one year
+€17.0m
Short-term financial debts
-€16.9m
Contributions, distributions and other
-€38.2m
Cash 2025
€5.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €506,096,405 | €474,588,708 | -€31.5m | -6.2% |
| Fixed assets | 21/28 | €454,224,682 | €433,626,728 | -€20.6m | -4.5% |
| Intangible fixed assets | 21 | €176,222 | €148,759 | -€27,463 | -15.6% |
| Tangible fixed assets | 22/27 | €363,954 | €289,106 | -€74,848 | -20.6% |
| Land and buildings | 22 | €202,620 | €173,674 | -€28,946 | -14.3% |
| Furniture and vehicles | 24 | €161,334 | €115,432 | -€45,902 | -28.5% |
| Financial fixed assets | 28 | €453,684,506 | €433,188,863 | -€20.5m | -4.5% |
| Affiliated companies | 280/1 | €453,684,506 | €433,188,863 | -€20.5m | -4.5% |
| Participating interests | 280 | €433,684,506 | €384,145,976 | -€49.5m | -11.4% |
| Amounts receivable | 281 | €20,000,000 | €49,042,887 | +€29.0m | +145% |
| Current assets | 29/58 | €51,871,723 | €40,961,980 | -€10.9m | -21.0% |
| Amounts receivable within one year | 40/41 | €27,425,591 | €19,158,885 | -€8.3m | -30.1% |
| Trade receivables | 40 | €1,903,667 | €1,769,784 | -€133,882 | -7.0% |
| Other amounts receivable | 41 | €25,521,925 | €17,389,101 | -€8.1m | -31.9% |
| Current investments | 50/53 | €19,000,000 | €13,889,826 | -€5.1m | -26.9% |
| Other investments | 51/53 | €19,000,000 | €13,889,826 | -€5.1m | -26.9% |
| Cash at bank and in hand | 54/58 | €3,876,871 | €5,740,331 | +€1.9m | +48.1% |
| Deferred charges and accrued income | 490/1 | €1,569,260 | €2,172,938 | +€603,678 | +38.5% |
| Total equity and liabilities | 10/49 | €506,096,405 | €474,588,708 | -€31.5m | -6.2% |
| Equity | 10/15 | €452,202,524 | €424,910,004 | -€27.3m | -6.0% |
| Contributions | 10/11 | €447,183,492 | €414,050,983 | -€33.1m | -7.4% |
| Profit (loss) carried forward | 14 | €5,019,032 | €10,859,021 | +€5.8m | +116% |
| Provisions and deferred taxes | 16 | €568,952 | €609,258 | +€40,306 | +7.1% |
| Provisions for liabilities and charges | 160/5 | €568,952 | €609,258 | +€40,306 | +7.1% |
| Pensions and similar obligations | 160 | €568,952 | €609,258 | +€40,306 | +7.1% |
| Amounts payable | 17/49 | €53,324,928 | €49,069,446 | -€4.3m | -8.0% |
| Amounts payable after more than one year | 17 | €5,500,000 | €22,500,000 | +€17.0m | +309% |
| Financial debts | 170/4 | €5,500,000 | €22,500,000 | +€17.0m | +309% |
| Other loans | 174 | €5,500,000 | €22,500,000 | +€17.0m | +309% |
| Amounts payable within one year | 42/48 | €47,021,658 | €25,952,705 | -€21.1m | -44.8% |
| Financial debts | 43 | €40,540,639 | €23,609,248 | -€16.9m | -41.8% |
| Credit institutions | 430/8 | - | €362 | +€362 | |
| Other loans | 439 | €40,540,639 | €23,608,886 | -€16.9m | -41.8% |
| Trade debts | 44 | €169,289 | €819,441 | +€650,152 | +384% |
| Suppliers | 440/4 | €169,289 | €819,441 | +€650,152 | +384% |
| Taxes, remuneration and social security | 45 | €534,416 | €1,166,443 | +€632,027 | +118% |
| Taxes | 450/3 | €48,302 | €28,781 | -€19,521 | -40.4% |
| Remuneration and social security | 454/9 | €486,114 | €1,137,662 | +€651,548 | +134% |
| Other amounts payable | 47/48 | €5,777,314 | €357,572 | -€5.4m | -93.8% |
| Accrued charges and deferred income | 492/3 | €803,270 | €616,742 | -€186,528 | -23.2% |
| Operating income | 70/76A | €3,681,750 | €10,741,518 | +€7.1m | +192% |
| Other operating income | 74 | €3,681,750 | €10,741,518 | +€7.1m | +192% |
| Operating charges | 60/66A | €4,510,398 | €12,110,318 | +€7.6m | +168% |
| Services and other goods | 61 | €3,004,158 | €6,654,568 | +€3.7m | +122% |
| Remuneration, social security and pensions | 62 | €1,336,852 | €4,114,883 | +€2.8m | +208% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,074 | €102,311 | +€12,237 | +13.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€12,967 | -€9,611 | +€3,356 | +25.9% |
| Other operating charges | 640/8 | €65,205 | €1,244,875 | +€1.2m | +1,809% |
| Non-recurring operating charges | 66A | €27,076 | €3,292 | -€23,784 | -87.8% |
| Operating profit (loss) | 9901 | -€828,648 | -€1,368,800 | -€540,152 | -65.2% |
| Financial income | 75/76B | €12,639,224 | €17,398,477 | +€4.8m | +37.7% |
| Recurring financial income | 75 | €12,639,224 | €17,085,515 | +€4.4m | +35.2% |
| Income from financial fixed assets | 750 | €7,484,067 | €12,742,558 | +€5.3m | +70.3% |
| Income from current assets | 751 | €1,805,791 | €1,076,806 | -€728,985 | -40.4% |
| Other financial income | 752/9 | €3,349,366 | €3,266,151 | -€83,215 | -2.5% |
| Non-recurring financial income | 76B | - | €312,962 | +€312,962 | |
| Financial charges | 65/66B | €5,415,761 | €5,167,471 | -€248,290 | -4.6% |
| Recurring financial charges | 65 | €5,102,798 | €4,867,022 | -€235,777 | -4.6% |
| Debt charges | 650 | €2,023,812 | €1,124,012 | -€899,800 | -44.5% |
| Other financial charges | 652/9 | €3,078,987 | €3,743,010 | +€664,024 | +21.6% |
| Non-recurring financial charges | 66B | €312,962 | €300,449 | -€12,513 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €6,394,815 | €10,862,207 | +€4.5m | +69.9% |
| Income taxes | 67/77 | €1,400 | €3,185 | +€1,785 | +128% |
| Taxes | 670/3 | €1,400 | €3,200 | +€1,800 | +129% |
| Tax adjustments and reversals of tax provisions | 77 | - | €15 | +€15 | |
| Profit (loss) for the period | 9904 | €6,393,415 | €10,859,021 | +€4.5m | +69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,393,415 | €10,859,021 | +€4.5m | +69.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.