CARPHI: 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.
CARPHI
Largest movements
- Receivables within one year +€67,774
up €67,774 (+27.4%), from €247,206 to €314,980
- Cash -€36,504
down €36,504 (-45.8%), from €79,728 to €43,224
mainly Contributions, distributions and other (-€278,000) and Receivables within one year (-€67,774)
- Current investments +€20,000
up €20,000 (+200.0%), from €10,000 to €30,000
- Reserves +€97,000
up €97,000 (+34.9%), from €278,000 to €375,000
- Tax, wage and social debts -€34,735
down €34,735 (-77.8%), from €44,648 to €9,913
- Trade debts -€13,175
down €13,175 (-90.6%), from €14,547 to €1,372
- Gross operating margin +€128,968
up €128,968 (+35.0%), from €368,462 to €497,430
- Taxes +€32,426
up €32,426 (+36.6%), from €88,702 to €121,129
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 | €341,404 | €391,428 | +€50,024 | +14.7% |
| Fixed assets | 21/28 | €3,465 | €1,578 | -€1,887 | -54.5% |
| Tangible fixed assets | 22/27 | €3,465 | €1,578 | -€1,887 | -54.5% |
| Furniture and vehicles | 24 | €3,465 | €1,578 | -€1,887 | -54.5% |
| Current assets | 29/58 | €337,939 | €389,850 | +€51,911 | +15.4% |
| Amounts receivable within one year | 40/41 | €247,206 | €314,980 | +€67,774 | +27.4% |
| Trade receivables | 40 | €247,206 | €314,980 | +€67,774 | +27.4% |
| Current investments | 50/53 | €10,000 | €30,000 | +€20,000 | +200.0% |
| Cash at bank and in hand | 54/58 | €79,728 | €43,224 | -€36,504 | -45.8% |
| Deferred charges and accrued income | 490/1 | €1,005 | €1,647 | +€642 | +63.8% |
| Total equity and liabilities | 10/49 | €341,404 | €391,428 | +€50,024 | +14.7% |
| Equity | 10/15 | €279,850 | €378,307 | +€98,457 | +35.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €278,000 | €375,000 | +€97,000 | +34.9% |
| Distributable reserves | 133 | €278,000 | €375,000 | +€97,000 | +34.9% |
| Profit (loss) carried forward | 14 | €350 | €1,807 | +€1,457 | +416.6% |
| Amounts payable | 17/49 | €61,554 | €13,122 | -€48,433 | -78.7% |
| Amounts payable within one year | 42/48 | €61,554 | €13,122 | -€48,433 | -78.7% |
| Trade debts | 44 | €14,547 | €1,372 | -€13,175 | -90.6% |
| Suppliers | 440/4 | €14,547 | €1,372 | -€13,175 | -90.6% |
| Taxes, remuneration and social security | 45 | €44,648 | €9,913 | -€34,735 | -77.8% |
| Taxes | 450/3 | €44,648 | €9,913 | -€34,735 | -77.8% |
| Other amounts payable | 47/48 | €2,358 | €1,837 | -€522 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,905 | €3,106 | +€202 | +6.9% |
| Other operating charges | 640/8 | €643 | €783 | +€140 | +21.7% |
| Gross operating margin | 9900 | €368,462 | €497,430 | +€128,968 | +35.0% |
| Operating profit (loss) | 9901 | €364,914 | €493,541 | +€128,627 | +35.2% |
| Financial income | 75/76B | €1,669 | €4,177 | +€2,508 | +150.3% |
| Recurring financial income | 75 | €1,669 | €4,177 | +€2,508 | +150.3% |
| Financial charges | 65/66B | €47 | €132 | +€85 | +179.4% |
| Recurring financial charges | 65 | €47 | €132 | +€85 | +179.4% |
| Profit (loss) for the period before taxes | 9903 | €366,535 | €497,585 | +€131,050 | +35.8% |
| Income taxes | 67/77 | €88,702 | €121,129 | +€32,426 | +36.6% |
| Profit (loss) for the period | 9904 | €277,833 | €376,457 | +€98,624 | +35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €277,833 | €376,457 | +€98,624 | +35.5% |
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 30 September 2026 via checked.be.