CARVEEN: 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.
CARVEEN
Largest movements
- Receivables within one year +€206,200
up €206,200 (+16.5%), from €1.3m to €1.5m
of which Trade receivables: +€147,281
- Cash +€90,199
up €90,199 (+160%), from €56,365 to €146,565
mainly Net result for the year (+€156,337) and Trade debts (+€136,827)
- Profit (loss) carried forward +€156,157
up €156,157 (+14.0%), from €1.1m to €1.3m
- Trade debts +€136,827
up €136,827 (+123%), from €111,018 to €247,846
- Gross operating margin +€399,417
up €399,417 (+243%), from €164,682 to €564,099
- Depreciation -€196,385
down €196,385 (-75.4%), from €260,501 to €64,117
- Financial income +€16,273
up €16,273 (+115%), from €14,207 to €30,480
- Staff costs +€6,913
up €6,913 (+2.0%), from €342,955 to €349,868
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.
Derived cash bridge
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 | €1,540,226 | €1,830,577 | +€290,350 | +18.9% |
| Fixed assets | 21/28 | €197,342 | €188,510 | -€8,832 | -4.5% |
| Intangible fixed assets | 21 | €9,750 | €7,160 | -€2,590 | -26.6% |
| Tangible fixed assets | 22/27 | €187,593 | €181,350 | -€6,242 | -3.3% |
| Plant, machinery and equipment | 23 | €106,636 | €100,531 | -€6,105 | -5.7% |
| Furniture and vehicles | 24 | €80,956 | €80,819 | -€137 | -0.2% |
| Current assets | 29/58 | €1,342,884 | €1,642,067 | +€299,183 | +22.3% |
| Stocks and contracts in progress | 3 | €35,036 | €37,820 | +€2,783 | +7.9% |
| Stocks | 30/36 | €35,036 | €37,820 | +€2,783 | +7.9% |
| Amounts receivable within one year | 40/41 | €1,251,482 | €1,457,682 | +€206,200 | +16.5% |
| Trade receivables | 40 | €612,241 | €759,522 | +€147,281 | +24.1% |
| Other amounts receivable | 41 | €639,241 | €698,160 | +€58,919 | +9.2% |
| Cash at bank and in hand | 54/58 | €56,365 | €146,565 | +€90,199 | +160% |
| Total equity and liabilities | 10/49 | €1,540,226 | €1,830,577 | +€290,350 | +18.9% |
| Equity | 10/15 | €1,136,918 | €1,293,075 | +€156,157 | +13.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,116,467 | €1,272,624 | +€156,157 | +14.0% |
| Amounts payable | 17/49 | €403,308 | €537,502 | +€134,194 | +33.3% |
| Amounts payable after more than one year | 17 | €2,000 | €3,024 | +€1,024 | +51.2% |
| Other amounts payable | 178/9 | €2,000 | €3,024 | +€1,024 | +51.2% |
| Amounts payable within one year | 42/48 | €401,308 | €534,478 | +€133,170 | +33.2% |
| Trade debts | 44 | €111,018 | €247,846 | +€136,827 | +123% |
| Suppliers | 440/4 | €111,018 | €247,846 | +€136,827 | +123% |
| Taxes, remuneration and social security | 45 | €57,101 | €52,953 | -€4,147 | -7.3% |
| Taxes | 450/3 | €12,366 | €1,204 | -€11,162 | -90.3% |
| Remuneration and social security | 454/9 | €44,735 | €51,749 | +€7,014 | +15.7% |
| Other amounts payable | 47/48 | €233,189 | €233,679 | +€490 | +0.2% |
| Remuneration, social security and pensions | 62 | €342,955 | €349,868 | +€6,913 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260,501 | €64,117 | -€196,385 | -75.4% |
| Other operating charges | 640/8 | €18,416 | €15,439 | -€2,976 | -16.2% |
| Gross operating margin | 9900 | €164,682 | €564,099 | +€399,417 | +243% |
| Operating profit (loss) | 9901 | -€457,190 | €134,675 | +€591,865 | |
| Financial income | 75/76B | €14,207 | €30,480 | +€16,273 | +115% |
| Recurring financial income | 75 | €14,207 | €30,480 | +€16,273 | +115% |
| Financial charges | 65/66B | €10,209 | €8,489 | -€1,720 | -16.9% |
| Recurring financial charges | 65 | €10,209 | €8,489 | -€1,720 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | -€453,191 | €156,667 | +€609,858 | |
| Income taxes | 67/77 | €424 | €330 | -€94 | -22.2% |
| Profit (loss) for the period | 9904 | -€453,615 | €156,337 | +€609,952 | |
| Profit (loss) for the period to be appropriated | 9905 | -€453,615 | €156,337 | +€609,952 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.