CARVEN: 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.
CARVEN
Largest movements
- Cash +€126,239
up €126,239 (+81.8%), from €154,322 to €280,562
mainly Net result for the year (+€80,194) and Tax, wage and social debts (+€75,195)
- Intangible fixed assets -€26,000
down €26,000 (-12.8%), from €203,797 to €177,797
- Tangible fixed assets -€19,988
down €19,988 (-16.0%), from €124,745 to €104,757
- Receivables within one year -€7,261
down €7,261 (-18.6%), from €39,085 to €31,824
of which Trade receivables: -€4,224
- Reserves +€80,194
up €80,194 (+123.5%), from €64,916 to €145,110
- Tax, wage and social debts +€75,195
up €75,195 (+58.7%), from €128,034 to €203,229
of which Taxes: +€60,989
- Trade debts -€40,165
down €40,165 (-41.8%), from €96,168 to €56,003
- Debts after one year -€37,145
down €37,145 (-24.0%), from €154,588 to €117,443
- Other debts -€13,137
down €13,137 (-12.1%), from €108,294 to €95,158
- Gross operating margin +€97,665
up €97,665 (+11.0%), from €887,977 to €985,642
- Taxes +€30,402
up €30,402 (+255.3%), from €11,906 to €42,309
- Other operating charges +€22,334
up €22,334 (+990.8%), from €2,254 to €24,588
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 | €597,657 | €664,088 | +€66,431 | +11.1% |
| Fixed assets | 21/28 | €376,186 | €330,199 | -€45,988 | -12.2% |
| Intangible fixed assets | 21 | €203,797 | €177,797 | -€26,000 | -12.8% |
| Tangible fixed assets | 22/27 | €124,745 | €104,757 | -€19,988 | -16.0% |
| Plant, machinery and equipment | 23 | €29,159 | €27,846 | -€1,313 | -4.5% |
| Furniture and vehicles | 24 | €16,027 | €6,912 | -€9,115 | -56.9% |
| Other tangible fixed assets | 26 | €79,559 | €70,000 | -€9,559 | -12.0% |
| Financial fixed assets | 28 | €47,644 | €47,644 | = | 0.0% |
| Current assets | 29/58 | €221,470 | €333,889 | +€112,419 | +50.8% |
| Stocks and contracts in progress | 3 | €20,007 | €20,007 | = | 0.0% |
| Stocks | 30/36 | €20,007 | €20,007 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,085 | €31,824 | -€7,261 | -18.6% |
| Trade receivables | 40 | €35,630 | €31,406 | -€4,224 | -11.9% |
| Other amounts receivable | 41 | €3,454 | €418 | -€3,037 | -87.9% |
| Cash at bank and in hand | 54/58 | €154,322 | €280,562 | +€126,239 | +81.8% |
| Deferred charges and accrued income | 490/1 | €8,056 | €1,497 | -€6,559 | -81.4% |
| Total equity and liabilities | 10/49 | €597,657 | €664,088 | +€66,431 | +11.1% |
| Equity | 10/15 | €74,916 | €155,110 | +€80,194 | +107.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €64,916 | €145,110 | +€80,194 | +123.5% |
| Distributable reserves | 133 | €64,916 | €145,110 | +€80,194 | +123.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €522,740 | €508,978 | -€13,763 | -2.6% |
| Amounts payable after more than one year | 17 | €154,588 | €117,443 | -€37,145 | -24.0% |
| Financial debts | 170/4 | €154,588 | €117,443 | -€37,145 | -24.0% |
| Amounts payable within one year | 42/48 | €368,152 | €391,535 | +€23,383 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €35,656 | €37,145 | +€1,490 | +4.2% |
| Trade debts | 44 | €96,168 | €56,003 | -€40,165 | -41.8% |
| Suppliers | 440/4 | €96,168 | €56,003 | -€40,165 | -41.8% |
| Taxes, remuneration and social security | 45 | €128,034 | €203,229 | +€75,195 | +58.7% |
| Taxes | 450/3 | €51,786 | €112,775 | +€60,989 | +117.8% |
| Remuneration and social security | 454/9 | €76,248 | €90,454 | +€14,206 | +18.6% |
| Other amounts payable | 47/48 | €108,294 | €95,158 | -€13,137 | -12.1% |
| Remuneration, social security and pensions | 62 | €769,166 | €765,919 | -€3,247 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,344 | €51,610 | +€1,267 | +2.5% |
| Other operating charges | 640/8 | €2,254 | €24,588 | +€22,334 | +990.8% |
| Gross operating margin | 9900 | €887,977 | €985,642 | +€97,665 | +11.0% |
| Operating profit (loss) | 9901 | €66,214 | €143,526 | +€77,312 | +116.8% |
| Financial income | 75/76B | €352 | €65 | -€287 | -81.6% |
| Recurring financial income | 75 | €352 | €65 | -€287 | -81.6% |
| Financial charges | 65/66B | €23,900 | €21,088 | -€2,812 | -11.8% |
| Recurring financial charges | 65 | €23,900 | €21,088 | -€2,812 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €42,666 | €122,502 | +€79,836 | +187.1% |
| Income taxes | 67/77 | €11,906 | €42,309 | +€30,402 | +255.3% |
| Profit (loss) for the period | 9904 | €30,760 | €80,194 | +€49,434 | +160.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,760 | €80,194 | +€49,434 | +160.7% |
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 4 October 2026 via checked.be.