CARVA: what changed
Two financial 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.
CARVA
Largest movements
- Tangible fixed assets -€309,851
down €309,851 (-46.1%), from €671,536 to €361,685
of which Land and buildings: -€308,857
- Cash +€109,731
up €109,731 (+989.3%), from €11,091 to €120,822
mainly Investment in fixed assets (net) (+€298,720) and Net result for the year (+€128,951)
- Debts after one year -€238,513
down €238,513 (-86.7%), from €275,005 to €36,492
- Reserves +€128,951
up €128,951 (+213.3%), from €60,449 to €189,400
- Other debts -€100,287
down €100,287 (-38.5%), from €260,726 to €160,439
- Tax, wage and social debts +€38,008
up €38,008 (+1959.3%), from €1,940 to €39,948
- Current portion of long-term debt -€31,793
down €31,793 (-47.3%), from €67,273 to €35,480
- Gross operating margin +€158,071
up €158,071 (+488.9%), from €32,335 to €190,406
- Taxes +€36,954
up €36,954 (+63125.3%), from €59 to €37,012
- Depreciation -€7,394
down €7,394 (-39.9%), from €18,525 to €11,131
- Other operating charges +€2,590
up €2,590 (+72.9%), from €3,554 to €6,145
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 | €684,488 | €490,589 | -€193,898 | -28.3% |
| Fixed assets | 21/28 | €671,536 | €361,685 | -€309,851 | -46.1% |
| Tangible fixed assets | 22/27 | €671,536 | €361,685 | -€309,851 | -46.1% |
| Land and buildings | 22 | €669,335 | €360,478 | -€308,857 | -46.1% |
| Plant, machinery and equipment | 23 | €977 | €693 | -€284 | -29.1% |
| Furniture and vehicles | 24 | €1,224 | €514 | -€710 | -58.0% |
| Current assets | 29/58 | €12,952 | €128,904 | +€115,953 | +895.3% |
| Amounts receivable within one year | 40/41 | €630 | €7,118 | +€6,488 | +1029.8% |
| Trade receivables | 40 | - | €4,538 | +€4,538 | |
| Other amounts receivable | 41 | €630 | €2,580 | +€1,950 | +309.5% |
| Cash at bank and in hand | 54/58 | €11,091 | €120,822 | +€109,731 | +989.3% |
| Deferred charges and accrued income | 490/1 | €1,230 | €964 | -€266 | -21.6% |
| Total equity and liabilities | 10/49 | €684,488 | €490,589 | -€193,898 | -28.3% |
| Equity | 10/15 | €79,049 | €208,000 | +€128,951 | +163.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,449 | €189,400 | +€128,951 | +213.3% |
| Distributable reserves | 133 | €60,449 | €189,400 | +€128,951 | +213.3% |
| Amounts payable | 17/49 | €605,438 | €282,589 | -€322,849 | -53.3% |
| Amounts payable after more than one year | 17 | €275,005 | €36,492 | -€238,513 | -86.7% |
| Financial debts | 170/4 | €275,005 | €36,492 | -€238,513 | -86.7% |
| Amounts payable within one year | 42/48 | €330,433 | €246,097 | -€84,336 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €67,273 | €35,480 | -€31,793 | -47.3% |
| Trade debts | 44 | €495 | €10,231 | +€9,736 | +1967.8% |
| Suppliers | 440/4 | €495 | €10,231 | +€9,736 | +1967.8% |
| Taxes, remuneration and social security | 45 | €1,940 | €39,948 | +€38,008 | +1959.3% |
| Taxes | 450/3 | €1,940 | €39,948 | +€38,008 | +1959.3% |
| Other amounts payable | 47/48 | €260,726 | €160,439 | -€100,287 | -38.5% |
| Non-recurring operating income | 76A | €10,959 | €158,530 | +€147,571 | +1346.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,525 | €11,131 | -€7,394 | -39.9% |
| Other operating charges | 640/8 | €3,554 | €6,145 | +€2,590 | +72.9% |
| Gross operating margin | 9900 | €32,335 | €190,406 | +€158,071 | +488.9% |
| Operating profit (loss) | 9901 | €10,255 | €173,130 | +€162,875 | +1588.2% |
| Financial charges | 65/66B | €7,103 | €7,167 | +€64 | +0.9% |
| Recurring financial charges | 65 | €7,103 | €7,167 | +€64 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €3,152 | €165,963 | +€162,811 | +5165.3% |
| Income taxes | 67/77 | €59 | €37,012 | +€36,954 | +63125.3% |
| Profit (loss) for the period | 9904 | €3,093 | €128,951 | +€125,858 | +4068.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,093 | €128,951 | +€125,858 | +4068.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.