KARVANN: 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.
KARVANN
Largest movements
- Receivables within one year -€12,850
down €12,850 (-66.8%), from €19,243 to €6,393
of which Trade receivables: -€16,292
- Tangible fixed assets -€4,698
down €4,698 (-4.2%), from €113,185 to €108,487
of which Other tangible fixed assets: -€13,798
- Cash -€4,573
down €4,573 (-4.5%), from €101,049 to €96,476
mainly Contributions, distributions and other (-€24,650) and Investment in fixed assets (net) (-€17,237)
- Deferred charges and accrued income +€4,412
up €4,412 (+155%), from €2,850 to €7,261
- Stocks and contracts -€2,797
down €2,797 (-46.5%), from €6,018 to €3,221
- Trade debts -€12,488
down €12,488 (-59.2%), from €21,082 to €8,594
- Debts after one year -€9,489
down €9,489 (-21.9%), from €43,327 to €33,838
- Gross operating margin +€4,551
up €4,551 (+7.9%), from €57,359 to €61,910
- Depreciation +€4,162
up €4,162 (+23.4%), from €17,773 to €21,935
- Other operating charges -€1,042
down €1,042 (-53.6%), from €1,943 to €901
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 | €242,345 | €221,839 | -€20,506 | -8.5% |
| Fixed assets | 21/28 | €113,185 | €108,487 | -€4,698 | -4.2% |
| Tangible fixed assets | 22/27 | €113,185 | €108,487 | -€4,698 | -4.2% |
| Plant, machinery and equipment | 23 | €23,793 | €31,444 | +€7,650 | +32.2% |
| Furniture and vehicles | 24 | €7,039 | €8,488 | +€1,449 | +20.6% |
| Other tangible fixed assets | 26 | €82,353 | €68,555 | -€13,798 | -16.8% |
| Current assets | 29/58 | €129,159 | €113,351 | -€15,808 | -12.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €6,018 | €3,221 | -€2,797 | -46.5% |
| Stocks | 30/36 | €6,018 | €3,221 | -€2,797 | -46.5% |
| Amounts receivable within one year | 40/41 | €19,243 | €6,393 | -€12,850 | -66.8% |
| Trade receivables | 40 | €16,959 | €667 | -€16,292 | -96.1% |
| Other amounts receivable | 41 | €2,284 | €5,726 | +€3,442 | +151% |
| Cash at bank and in hand | 54/58 | €101,049 | €96,476 | -€4,573 | -4.5% |
| Deferred charges and accrued income | 490/1 | €2,850 | €7,261 | +€4,412 | +155% |
| Total equity and liabilities | 10/49 | €242,345 | €221,839 | -€20,506 | -8.5% |
| Equity | 10/15 | €163,847 | €164,024 | +€177 | +0.1% |
| Contributions | 10/11 | €67,500 | €67,500 | = | 0.0% |
| Reserves | 13 | €96,347 | €96,524 | +€177 | +0.2% |
| Distributable reserves | 133 | €96,347 | €96,524 | +€177 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,498 | €57,815 | -€20,683 | -26.3% |
| Amounts payable after more than one year | 17 | €43,327 | €33,838 | -€9,489 | -21.9% |
| Financial debts | 170/4 | €43,327 | €33,838 | -€9,489 | -21.9% |
| Amounts payable within one year | 42/48 | €35,171 | €23,977 | -€11,194 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €9,606 | €9,658 | +€52 | +0.5% |
| Financial debts | 43 | €1,269 | €1,269 | = | 0.0% |
| Credit institutions | 430/8 | €1,269 | €1,269 | = | 0.0% |
| Trade debts | 44 | €21,082 | €8,594 | -€12,488 | -59.2% |
| Suppliers | 440/4 | €21,082 | €8,594 | -€12,488 | -59.2% |
| Taxes, remuneration and social security | 45 | €2,355 | €3,483 | +€1,128 | +47.9% |
| Taxes | 450/3 | €2,355 | €3,483 | +€1,128 | +47.9% |
| Other amounts payable | 47/48 | €859 | €974 | +€115 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,773 | €21,935 | +€4,162 | +23.4% |
| Other operating charges | 640/8 | €1,943 | €901 | -€1,042 | -53.6% |
| Gross operating margin | 9900 | €57,359 | €61,910 | +€4,551 | +7.9% |
| Operating profit (loss) | 9901 | €37,644 | €39,074 | +€1,431 | +3.8% |
| Financial income | 75/76B | €324 | €599 | +€275 | +84.9% |
| Recurring financial income | 75 | €324 | €599 | +€275 | +84.9% |
| Financial charges | 65/66B | €3,901 | €3,641 | -€260 | -6.7% |
| Recurring financial charges | 65 | €3,901 | €3,641 | -€260 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €34,067 | €36,032 | +€1,965 | +5.8% |
| Income taxes | 67/77 | €10,830 | €11,205 | +€375 | +3.5% |
| Profit (loss) for the period | 9904 | €23,236 | €24,827 | +€1,590 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,236 | €24,827 | +€1,590 | +6.8% |
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 25 October 2026 via checked.be.