Dr. ARNOUT CARPELS: 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.
Dr. ARNOUT CARPELS
Largest movements
- Cash +€102,537
up €102,537 (+32.9%), from €311,403 to €413,939
mainly Other debts (+€446,604) and Net result for the year (+€172,018)
- Other debts +€446,604
up €446,604, from €0 to €446,604
- Reserves -€356,797
down €356,797 (-100.0%), from €356,797 to €0
- Tax, wage and social debts +€9,150
new in 2025: €9,150
- Gross operating margin +€30,181
up €30,181 (+14.9%), from €203,218 to €233,399
- Financial charges +€9,600
up €9,600 (+16408.0%), from €59 to €9,659
- Taxes +€4,434
up €4,434 (+9.5%), from €46,906 to €51,340
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 | €359,619 | €458,420 | +€98,801 | +27.5% |
| Fixed assets | 21/28 | €2,202 | €1,941 | -€261 | -11.9% |
| Tangible fixed assets | 22/27 | €2,202 | €1,941 | -€261 | -11.9% |
| Plant, machinery and equipment | 23 | €2,202 | €1,941 | -€261 | -11.9% |
| Current assets | 29/58 | €357,417 | €456,480 | +€99,062 | +27.7% |
| Amounts receivable within one year | 40/41 | €46,015 | €42,540 | -€3,474 | -7.6% |
| Trade receivables | 40 | €39,784 | €39,330 | -€454 | -1.1% |
| Other amounts receivable | 41 | €6,231 | €3,210 | -€3,020 | -48.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €311,403 | €413,939 | +€102,537 | +32.9% |
| Total equity and liabilities | 10/49 | €359,619 | €458,420 | +€98,801 | +27.5% |
| Equity | 10/15 | €359,297 | €2,500 | -€356,797 | -99.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €356,797 | €0 | -€356,797 | -100.0% |
| Distributable reserves | 133 | €356,797 | €0 | -€356,797 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €322 | €455,920 | +€455,598 | +141393.5% |
| Amounts payable within one year | 42/48 | €322 | €455,920 | +€455,598 | +141393.5% |
| Trade debts | 44 | €322 | €166 | -€157 | -48.6% |
| Suppliers | 440/4 | €322 | €166 | -€157 | -48.6% |
| Taxes, remuneration and social security | 45 | - | €9,150 | +€9,150 | |
| Taxes | 450/3 | - | €9,150 | +€9,150 | |
| Other amounts payable | 47/48 | €0 | €446,604 | +€446,604 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €261 | €261 | = | 0.0% |
| Other operating charges | 640/8 | €62 | €462 | +€400 | +644.7% |
| Gross operating margin | 9900 | €203,218 | €233,399 | +€30,181 | +14.9% |
| Operating profit (loss) | 9901 | €202,894 | €232,675 | +€29,781 | +14.7% |
| Financial income | 75/76B | €2,283 | €342 | -€1,941 | -85.0% |
| Recurring financial income | 75 | €2,283 | €342 | -€1,941 | -85.0% |
| Financial charges | 65/66B | €59 | €9,659 | +€9,600 | +16408.0% |
| Recurring financial charges | 65 | €59 | €9,659 | +€9,600 | +16408.0% |
| Profit (loss) for the period before taxes | 9903 | €205,119 | €223,359 | +€18,240 | +8.9% |
| Income taxes | 67/77 | €46,906 | €51,340 | +€4,434 | +9.5% |
| Profit (loss) for the period | 9904 | €158,213 | €172,018 | +€13,806 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €158,213 | €172,018 | +€13,806 | +8.7% |
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 12 October 2026 via checked.be.