CARPENTIER: 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.
CARPENTIER
Largest movements
- Cash +€766,060
up €766,060 (+673.1%), from €113,810 to €879,870
mainly Net result for the year (+€538,827) and Tax, wage and social debts (+€271,567)
- Stocks and contracts -€78,090
down €78,090 (-100.0%), from €78,090 to €0
- Receivables within one year +€45,980
up €45,980 (+175.5%), from €26,206 to €72,186
of which Other amounts receivable: +€49,956
- Tangible fixed assets -€41,751
down €41,751 (-56.2%), from €74,319 to €32,567
of which Land and buildings: -€32,472
- Reserves +€538,827
up €538,827 (+807.7%), from €66,710 to €605,537
of which Distributable reserves: +€538,827
- Tax, wage and social debts +€271,567
up €271,567 (+1344.4%), from €20,199 to €291,766
- Other debts -€81,000
down €81,000 (-100.0%), from €81,000 to €0
- Debts after one year -€18,339
down €18,339 (-69.1%), from €26,540 to €8,202
- Current portion of long-term debt -€14,910
down €14,910 (-58.9%), from €25,321 to €10,411
- Gross operating margin +€762,702
up €762,702 (+1575.0%), from €48,425 to €811,128
- Taxes +€260,612
up €260,612 (+2425.6%), from €10,744 to €271,356
- Write-downs -€15,454
new in 2025: -€15,454
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 | €294,152 | €986,191 | +€692,040 | +235.3% |
| Fixed assets | 21/28 | €74,319 | €32,567 | -€41,751 | -56.2% |
| Tangible fixed assets | 22/27 | €74,319 | €32,567 | -€41,751 | -56.2% |
| Land and buildings | 22 | €32,472 | €0 | -€32,472 | -100.0% |
| Plant, machinery and equipment | 23 | €77 | €2,016 | +€1,938 | +2503.0% |
| Furniture and vehicles | 24 | €41,769 | €30,552 | -€11,218 | -26.9% |
| Current assets | 29/58 | €219,833 | €953,624 | +€733,791 | +333.8% |
| Stocks and contracts in progress | 3 | €78,090 | €0 | -€78,090 | -100.0% |
| Stocks | 30/36 | €78,090 | €0 | -€78,090 | -100.0% |
| Amounts receivable within one year | 40/41 | €26,206 | €72,186 | +€45,980 | +175.5% |
| Trade receivables | 40 | €6,810 | €2,833 | -€3,976 | -58.4% |
| Other amounts receivable | 41 | €19,396 | €69,353 | +€49,956 | +257.6% |
| Cash at bank and in hand | 54/58 | €113,810 | €879,870 | +€766,060 | +673.1% |
| Deferred charges and accrued income | 490/1 | €1,726 | €1,567 | -€159 | -9.2% |
| Total equity and liabilities | 10/49 | €294,152 | €986,191 | +€692,040 | +235.3% |
| Equity | 10/15 | €128,710 | €667,537 | +€538,827 | +418.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €66,710 | €605,537 | +€538,827 | +807.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €60,510 | €599,337 | +€538,827 | +890.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €165,442 | €318,655 | +€153,213 | +92.6% |
| Amounts payable after more than one year | 17 | €26,540 | €8,202 | -€18,339 | -69.1% |
| Financial debts | 170/4 | €26,540 | €8,202 | -€18,339 | -69.1% |
| Amounts payable within one year | 42/48 | €136,633 | €309,520 | +€172,887 | +126.5% |
| Current portion of amounts payable after more than one year | 42 | €25,321 | €10,411 | -€14,910 | -58.9% |
| Trade debts | 44 | €10,113 | €7,343 | -€2,770 | -27.4% |
| Suppliers | 440/4 | €10,113 | €7,343 | -€2,770 | -27.4% |
| Taxes, remuneration and social security | 45 | €20,199 | €291,766 | +€271,567 | +1344.4% |
| Taxes | 450/3 | €20,199 | €291,766 | +€271,567 | +1344.4% |
| Other amounts payable | 47/48 | €81,000 | €0 | -€81,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,268 | €933 | -€1,335 | -58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,446 | €11,422 | -€4,024 | -26.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€15,454 | -€15,454 | |
| Other operating charges | 640/8 | €3,045 | €3,754 | +€710 | +23.3% |
| Gross operating margin | 9900 | €48,425 | €811,128 | +€762,702 | +1575.0% |
| Operating profit (loss) | 9901 | €29,935 | €811,406 | +€781,471 | +2610.6% |
| Financial income | 75/76B | €5,178 | €3,159 | -€2,019 | -39.0% |
| Recurring financial income | 75 | €5,178 | €3,159 | -€2,019 | -39.0% |
| Financial charges | 65/66B | €4,104 | €4,382 | +€279 | +6.8% |
| Recurring financial charges | 65 | €4,104 | €4,382 | +€279 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €31,010 | €810,183 | +€779,173 | +2512.7% |
| Income taxes | 67/77 | €10,744 | €271,356 | +€260,612 | +2425.6% |
| Profit (loss) for the period | 9904 | €20,265 | €538,827 | +€518,561 | +2558.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,265 | €538,827 | +€518,561 | +2558.9% |
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.