DE KARMELIET: 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.
DE KARMELIET
Largest movements
- Cash +€152,989
up €152,989 (+110%), from €139,374 to €292,363
mainly Net result for the year (+€107,655) and Depreciation (+€54,538)
- Tangible fixed assets -€31,462
down €31,462 (-7.5%), from €420,875 to €389,413
of which Land and buildings: -€36,829
- Reserves +€107,655
up €107,655 (+9.6%), from €1.1m to €1.2m
of which Distributable reserves: +€107,655
- Staff costs +€22,222
up €22,222 (+8.2%), from €269,385 to €291,607
- Financial charges +€10,525
up €10,525 (+2,207%), from €477 to €11,002
- Financial income +€9,097
up €9,097 (+988%), from €921 to €10,018
- Taxes +€8,251
up €8,251 (+1,452%), from €568 to €8,819
- Gross operating margin -€6,702
down €6,702 (-1.4%), from €467,305 to €460,603
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,500,176 | €1,610,075 | +€109,899 | +7.3% |
| Fixed assets | 21/28 | €582,064 | €550,602 | -€31,462 | -5.4% |
| Tangible fixed assets | 22/27 | €420,875 | €389,413 | -€31,462 | -7.5% |
| Land and buildings | 22 | €390,382 | €353,553 | -€36,829 | -9.4% |
| Plant, machinery and equipment | 23 | €20,633 | €31,392 | +€10,759 | +52.1% |
| Furniture and vehicles | 24 | €9,860 | €4,468 | -€5,392 | -54.7% |
| Financial fixed assets | 28 | €161,189 | €161,189 | = | 0.0% |
| Current assets | 29/58 | €918,111 | €1,059,473 | +€141,361 | +15.4% |
| Stocks and contracts in progress | 3 | €299,978 | €294,751 | -€5,227 | -1.7% |
| Stocks | 30/36 | €299,978 | €294,751 | -€5,227 | -1.7% |
| Amounts receivable within one year | 40/41 | €128,760 | €118,901 | -€9,859 | -7.7% |
| Trade receivables | 40 | €128,334 | €52,935 | -€75,399 | -58.8% |
| Other amounts receivable | 41 | €425 | €65,966 | +€65,540 | +15,415% |
| Current investments | 50/53 | €350,000 | €350,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €139,374 | €292,363 | +€152,989 | +110% |
| Deferred charges and accrued income | 490/1 | - | €3,458 | +€3,458 | |
| Total equity and liabilities | 10/49 | €1,500,176 | €1,610,075 | +€109,899 | +7.3% |
| Equity | 10/15 | €1,186,877 | €1,294,532 | +€107,655 | +9.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,124,904 | €1,232,559 | +€107,655 | +9.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €58 | €58 | = | 0.0% |
| Distributable reserves | 133 | €1,118,649 | €1,226,303 | +€107,655 | +9.6% |
| Provisions and deferred taxes | 16 | €180,644 | €176,378 | -€4,265 | -2.4% |
| Provisions for liabilities and charges | 160/5 | €180,644 | €176,378 | -€4,265 | -2.4% |
| Pensions and similar obligations | 160 | €157,387 | €157,387 | = | 0.0% |
| Environmental obligations | 163 | €23,257 | €18,991 | -€4,265 | -18.3% |
| Amounts payable | 17/49 | €132,655 | €139,165 | +€6,510 | +4.9% |
| Amounts payable within one year | 42/48 | €132,655 | €139,165 | +€6,510 | +4.9% |
| Trade debts | 44 | €92,662 | €92,481 | -€181 | -0.2% |
| Suppliers | 440/4 | €92,662 | €92,481 | -€181 | -0.2% |
| Taxes, remuneration and social security | 45 | €23,654 | €33,702 | +€10,048 | +42.5% |
| Taxes | 450/3 | €19,302 | €23,800 | +€4,499 | +23.3% |
| Remuneration and social security | 454/9 | €4,352 | €9,902 | +€5,550 | +128% |
| Other amounts payable | 47/48 | €16,339 | €12,982 | -€3,357 | -20.5% |
| Remuneration, social security and pensions | 62 | €269,385 | €291,607 | +€22,222 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,300 | €54,538 | -€5,762 | -9.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€4,265 | -€4,265 | |
| Other operating charges | 640/8 | €4,005 | €1,266 | -€2,740 | -68.4% |
| Gross operating margin | 9900 | €467,305 | €460,603 | -€6,702 | -1.4% |
| Operating profit (loss) | 9901 | €133,615 | €117,458 | -€16,157 | -12.1% |
| Financial income | 75/76B | €921 | €10,018 | +€9,097 | +988% |
| Recurring financial income | 75 | €921 | €10,018 | +€9,097 | +988% |
| Financial charges | 65/66B | €477 | €11,002 | +€10,525 | +2,207% |
| Recurring financial charges | 65 | €477 | €11,002 | +€10,525 | +2,207% |
| Profit (loss) for the period before taxes | 9903 | €134,059 | €116,474 | -€17,585 | -13.1% |
| Income taxes | 67/77 | €568 | €8,819 | +€8,251 | +1,452% |
| Profit (loss) for the period | 9904 | €133,490 | €107,655 | -€25,836 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €133,490 | €107,655 | -€25,836 | -19.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.