S. CARMANS: 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.
S. CARMANS
Largest movements
- Tangible fixed assets -€93,936
down €93,936 (-10.1%), from €930,520 to €836,584
- Deferred charges and accrued income -€72,668
down €72,668 (-96.1%), from €75,600 to €2,933
- Cash +€58,681
up €58,681 (+240.3%), from €24,419 to €83,100
mainly Net result for the year (+€135,006) and Depreciation (+€93,936)
- Receivables within one year +€39,274
up €39,274 (+33.0%), from €118,921 to €158,194
of which Trade receivables: +€38,379
- Advances received -€145,200
down €145,200 (-100.0%), from €145,200 to €0
- Reserves +€135,006
up €135,006 (+24.1%), from €559,534 to €694,540
of which Distributable reserves: +€135,006
- Debts after one year -€124,809
down €124,809 (-84.2%), from €148,291 to €23,482
- Trade debts +€81,860
up €81,860 (+604.8%), from €13,535 to €95,395
- Tax, wage and social debts +€69,660
up €69,660 (+550.1%), from €12,662 to €82,322
of which Taxes: +€69,660
- Gross operating margin +€162,068
up €162,068 (+170.7%), from €94,943 to €257,010
- Taxes +€21,973
up €21,973 (+198.9%), from €11,047 to €33,020
- Depreciation +€14,095
up €14,095 (+17.7%), from €79,841 to €93,936
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 | €1,163,459 | €1,094,810 | -€68,649 | -5.9% |
| Fixed assets | 21/28 | €944,520 | €850,584 | -€93,936 | -9.9% |
| Tangible fixed assets | 22/27 | €930,520 | €836,584 | -€93,936 | -10.1% |
| Land and buildings | 22 | €722,759 | €679,957 | -€42,802 | -5.9% |
| Plant, machinery and equipment | 23 | €17,291 | €10,250 | -€7,041 | -40.7% |
| Furniture and vehicles | 24 | €190,469 | €146,376 | -€44,093 | -23.1% |
| Financial fixed assets | 28 | €14,000 | €14,000 | = | 0.0% |
| Current assets | 29/58 | €218,939 | €244,227 | +€25,287 | +11.5% |
| Amounts receivable within one year | 40/41 | €118,921 | €158,194 | +€39,274 | +33.0% |
| Trade receivables | 40 | €18,921 | €57,300 | +€38,379 | +202.8% |
| Other amounts receivable | 41 | €100,000 | €100,894 | +€894 | +0.9% |
| Cash at bank and in hand | 54/58 | €24,419 | €83,100 | +€58,681 | +240.3% |
| Deferred charges and accrued income | 490/1 | €75,600 | €2,933 | -€72,668 | -96.1% |
| Total equity and liabilities | 10/49 | €1,163,459 | €1,094,810 | -€68,649 | -5.9% |
| Equity | 10/15 | €578,134 | €713,140 | +€135,006 | +23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €559,534 | €694,540 | +€135,006 | +24.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €559,534 | €694,540 | +€135,006 | +24.1% |
| Amounts payable | 17/49 | €585,325 | €381,670 | -€203,655 | -34.8% |
| Amounts payable after more than one year | 17 | €148,291 | €23,482 | -€124,809 | -84.2% |
| Financial debts | 170/4 | €148,291 | €23,482 | -€124,809 | -84.2% |
| Amounts payable within one year | 42/48 | €437,034 | €358,188 | -€78,846 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €185,443 | €124,809 | -€60,634 | -32.7% |
| Trade debts | 44 | €13,535 | €95,395 | +€81,860 | +604.8% |
| Suppliers | 440/4 | €13,535 | €95,395 | +€81,860 | +604.8% |
| Advances received on contracts in progress | 46 | €145,200 | €0 | -€145,200 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,662 | €82,322 | +€69,660 | +550.1% |
| Taxes | 450/3 | €12,662 | €82,322 | +€69,660 | +550.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €80,193 | €55,662 | -€24,532 | -30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,841 | €93,936 | +€14,095 | +17.7% |
| Other operating charges | 640/8 | €15,863 | €16,261 | +€398 | +2.5% |
| Gross operating margin | 9900 | €94,943 | €257,010 | +€162,068 | +170.7% |
| Operating profit (loss) | 9901 | -€761 | €146,813 | +€147,574 | |
| Financial income | 75/76B | €30,000 | €30,000 | = | 0.0% |
| Recurring financial income | 75 | €30,000 | €30,000 | = | 0.0% |
| Financial charges | 65/66B | €9,507 | €8,787 | -€720 | -7.6% |
| Recurring financial charges | 65 | €9,507 | €8,787 | -€720 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €19,732 | €168,026 | +€148,294 | +751.5% |
| Income taxes | 67/77 | €11,047 | €33,020 | +€21,973 | +198.9% |
| Profit (loss) for the period | 9904 | €8,685 | €135,006 | +€126,321 | +1454.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,685 | €135,006 | +€126,321 | +1454.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.