CARRMAN: 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.
CARRMAN
Largest movements
- Cash +€8,121
up €8,121 (+51.4%), from €15,788 to €23,909
mainly Net result for the year (+€58,386) and Depreciation (+€12,042)
- Tangible fixed assets +€4,157
up €4,157 (+8.2%), from €50,423 to €54,580
of which Other tangible fixed assets: +€6,825
- Deferred charges and accrued income +€3,589
up €3,589 (+406.8%), from €882 to €4,471
- Reserves +€58,386
up €58,386 (+74.6%), from €78,263 to €136,650
- Other debts -€22,616
down €22,616 (-18.4%), from €123,097 to €100,480
- Trade debts -€21,638
down €21,638 (-84.4%), from €25,647 to €4,009
- Gross operating margin -€41,353
down €41,353 (-28.6%), from €144,400 to €103,047
- Taxes -€11,226
down €11,226 (-30.4%), from €36,902 to €25,676
- Depreciation +€3,420
up €3,420 (+39.7%), from €8,622 to €12,042
- Other operating charges -€1,836
down €1,836 (-59.4%), from €3,092 to €1,256
- Financial charges +€1,776
up €1,776 (+43.3%), from €4,102 to €5,877
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 | €269,707 | €286,075 | +€16,369 | +6.1% |
| Fixed assets | 21/28 | €50,461 | €54,618 | +€4,157 | +8.2% |
| Tangible fixed assets | 22/27 | €50,423 | €54,580 | +€4,157 | +8.2% |
| Furniture and vehicles | 24 | €12,288 | €9,620 | -€2,667 | -21.7% |
| Other tangible fixed assets | 26 | €38,135 | €44,960 | +€6,825 | +17.9% |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €219,246 | €231,457 | +€12,211 | +5.6% |
| Stocks and contracts in progress | 3 | €150,000 | €150,000 | = | 0.0% |
| Stocks | 30/36 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €52,575 | €53,077 | +€502 | +1.0% |
| Trade receivables | 40 | €46,198 | €41,627 | -€4,571 | -9.9% |
| Other amounts receivable | 41 | €6,377 | €11,450 | +€5,072 | +79.5% |
| Cash at bank and in hand | 54/58 | €15,788 | €23,909 | +€8,121 | +51.4% |
| Deferred charges and accrued income | 490/1 | €882 | €4,471 | +€3,589 | +406.8% |
| Total equity and liabilities | 10/49 | €269,707 | €286,075 | +€16,369 | +6.1% |
| Equity | 10/15 | €98,263 | €156,650 | +€58,386 | +59.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €78,263 | €136,650 | +€58,386 | +74.6% |
| Distributable reserves | 133 | €78,263 | €136,650 | +€58,386 | +74.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €171,443 | €129,425 | -€42,018 | -24.5% |
| Amounts payable within one year | 42/48 | €171,193 | €129,414 | -€41,779 | -24.4% |
| Trade debts | 44 | €25,647 | €4,009 | -€21,638 | -84.4% |
| Suppliers | 440/4 | €25,647 | €4,009 | -€21,638 | -84.4% |
| Taxes, remuneration and social security | 45 | €22,449 | €24,925 | +€2,475 | +11.0% |
| Taxes | 450/3 | €22,449 | €24,925 | +€2,475 | +11.0% |
| Other amounts payable | 47/48 | €123,097 | €100,480 | -€22,616 | -18.4% |
| Accrued charges and deferred income | 492/3 | €250 | €11 | -€239 | -95.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,622 | €12,042 | +€3,420 | +39.7% |
| Other operating charges | 640/8 | €3,092 | €1,256 | -€1,836 | -59.4% |
| Gross operating margin | 9900 | €144,400 | €103,047 | -€41,353 | -28.6% |
| Operating profit (loss) | 9901 | €132,687 | €89,749 | -€42,937 | -32.4% |
| Financial income | 75/76B | €6 | €190 | +€184 | +3063.2% |
| Recurring financial income | 75 | €6 | €190 | +€184 | +3063.2% |
| Financial charges | 65/66B | €4,102 | €5,877 | +€1,776 | +43.3% |
| Recurring financial charges | 65 | €4,102 | €5,877 | +€1,776 | +43.3% |
| Profit (loss) for the period before taxes | 9903 | €128,591 | €84,062 | -€44,529 | -34.6% |
| Income taxes | 67/77 | €36,902 | €25,676 | -€11,226 | -30.4% |
| Profit (loss) for the period | 9904 | €91,689 | €58,386 | -€33,303 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,689 | €58,386 | -€33,303 | -36.3% |
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 5 October 2026 via checked.be.