AL KARAM: 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.
AL KARAM
Largest movements
- Receivables within one year -€14,946
down €14,946 (-90.7%), from €16,474 to €1,529
of which Trade receivables: -€16,147
- Cash +€1,948
up €1,948 (+54.2%), from €3,595 to €5,543
mainly Receivables within one year (+€14,946) and Net result for the year (+€12,997)
- Stocks and contracts +€750
up €750 (+2.9%), from €26,072 to €26,822
- Trade debts -€20,606
down €20,606 (-64.3%), from €32,063 to €11,456
- Profit (loss) carried forward +€12,997
up €12,997, from -€11,845 to €1,152
- Other debts -€8,000
down €8,000 (-20.2%), from €39,641 to €31,641
- Advances received +€3,960
new in 2025: €3,960
- Gross operating margin +€15,245
up €15,245 (+1,162%), from €1,312 to €16,558
- Financial charges +€1,062
up €1,062 (+2,360%), from €45 to €1,107
- Depreciation +€583
up €583 (+39.2%), from €1,487 to €2,070
- Taxes +€384
new in 2025: €384
- Other operating charges -€318
no longer reported in 2025 (was €318)
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 | €66,466 | €54,793 | -€11,673 | -17.6% |
| Fixed assets | 21/28 | €2,077 | €2,652 | +€575 | +27.7% |
| Tangible fixed assets | 22/27 | €2,077 | €2,652 | +€575 | +27.7% |
| Furniture and vehicles | 24 | €2,077 | €2,652 | +€575 | +27.7% |
| Current assets | 29/58 | €64,388 | €52,141 | -€12,248 | -19.0% |
| Stocks and contracts in progress | 3 | €26,072 | €26,822 | +€750 | +2.9% |
| Stocks | 30/36 | €26,072 | €26,822 | +€750 | +2.9% |
| Amounts receivable within one year | 40/41 | €16,474 | €1,529 | -€14,946 | -90.7% |
| Trade receivables | 40 | €16,474 | €328 | -€16,147 | -98.0% |
| Other amounts receivable | 41 | €0 | €1,201 | +€1,201 | |
| Cash at bank and in hand | 54/58 | €3,595 | €5,543 | +€1,948 | +54.2% |
| Deferred charges and accrued income | 490/1 | €18,247 | €18,247 | = | 0.0% |
| Total equity and liabilities | 10/49 | €66,466 | €54,793 | -€11,673 | -17.6% |
| Equity | 10/15 | -€5,645 | €7,352 | +€12,997 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Profit (loss) carried forward | 14 | -€11,845 | €1,152 | +€12,997 | |
| Amounts payable | 17/49 | €72,111 | €47,441 | -€24,670 | -34.2% |
| Amounts payable within one year | 42/48 | €72,111 | €47,441 | -€24,670 | -34.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €32,063 | €11,456 | -€20,606 | -64.3% |
| Suppliers | 440/4 | €32,063 | €11,456 | -€20,606 | -64.3% |
| Advances received on contracts in progress | 46 | - | €3,960 | +€3,960 | |
| Taxes, remuneration and social security | 45 | €407 | €384 | -€23 | -5.8% |
| Taxes | 450/3 | €407 | €384 | -€23 | -5.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €39,641 | €31,641 | -€8,000 | -20.2% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,487 | €2,070 | +€583 | +39.2% |
| Other operating charges | 640/8 | €318 | - | -€318 | |
| Gross operating margin | 9900 | €1,312 | €16,558 | +€15,245 | +1,162% |
| Operating profit (loss) | 9901 | -€493 | €14,488 | +€14,981 | |
| Financial charges | 65/66B | €45 | €1,107 | +€1,062 | +2,360% |
| Recurring financial charges | 65 | €45 | €1,107 | +€1,062 | +2,360% |
| Profit (loss) for the period before taxes | 9903 | -€538 | €13,381 | +€13,919 | |
| Income taxes | 67/77 | - | €384 | +€384 | |
| Profit (loss) for the period | 9904 | -€538 | €12,997 | +€13,535 | |
| Profit (loss) for the period to be appropriated | 9905 | -€538 | €12,997 | +€13,535 |
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 29 October 2026 via checked.be.