Cabinet Karat: 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.
Cabinet Karat
Largest movements
- Intangible fixed assets -€20,000
no longer reported in 2025 (was €20,000)
- Tangible fixed assets -€6,659
down €6,659 (-31.1%), from €21,406 to €14,747
of which Furniture and vehicles: -€6,506
- Receivables within one year -€3,125
down €3,125 (-75.8%), from €4,125 to €1,000
of which Trade receivables: -€4,125
- Cash +€2,040
up €2,040 (+35.8%), from €5,707 to €7,747
mainly Depreciation (+€27,858) and Net result for the year (+€10,268)
- Other debts -€30,440
down €30,440 (-60.5%), from €50,285 to €19,845
- Profit (loss) carried forward +€10,268
up €10,268 (+32.9%), from -€31,256 to -€20,988
- Debts after one year -€6,110
no longer reported in 2025 (was €6,110)
- Trade debts -€1,020
down €1,020 (-39.4%), from €2,586 to €1,566
- Gross operating margin +€24,092
up €24,092 (+160%), from €15,015 to €39,107
- Other operating charges -€4,029
down €4,029 (-91.7%), from €4,395 to €366
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 | €51,237 | €23,649 | -€27,588 | -53.8% |
| Fixed assets | 21/28 | €41,406 | €14,747 | -€26,659 | -64.4% |
| Intangible fixed assets | 21 | €20,000 | - | -€20,000 | |
| Tangible fixed assets | 22/27 | €21,406 | €14,747 | -€6,659 | -31.1% |
| Furniture and vehicles | 24 | €20,481 | €13,976 | -€6,506 | -31.8% |
| Other tangible fixed assets | 26 | €925 | €771 | -€153 | -16.6% |
| Current assets | 29/58 | €9,832 | €8,902 | -€929 | -9.5% |
| Amounts receivable within one year | 40/41 | €4,125 | €1,000 | -€3,125 | -75.8% |
| Trade receivables | 40 | €4,125 | - | -€4,125 | |
| Other amounts receivable | 41 | - | €1,000 | +€1,000 | |
| Cash at bank and in hand | 54/58 | €5,707 | €7,747 | +€2,040 | +35.8% |
| Deferred charges and accrued income | 490/1 | - | €155 | +€155 | |
| Total equity and liabilities | 10/49 | €51,237 | €23,649 | -€27,588 | -53.8% |
| Equity | 10/15 | -€16,996 | -€6,728 | +€10,268 | +60.4% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,256 | -€20,988 | +€10,268 | +32.9% |
| Amounts payable | 17/49 | €68,233 | €30,377 | -€37,856 | -55.5% |
| Amounts payable after more than one year | 17 | €6,110 | - | -€6,110 | |
| Financial debts | 170/4 | €6,110 | - | -€6,110 | |
| Amounts payable within one year | 42/48 | €62,123 | €30,377 | -€31,745 | -51.1% |
| Current portion of amounts payable after more than one year | 42 | €6,464 | €6,125 | -€339 | -5.2% |
| Trade debts | 44 | €2,586 | €1,566 | -€1,020 | -39.4% |
| Suppliers | 440/4 | €2,586 | €1,566 | -€1,020 | -39.4% |
| Taxes, remuneration and social security | 45 | €2,787 | €2,841 | +€54 | +1.9% |
| Taxes | 450/3 | €2,787 | €2,841 | +€54 | +1.9% |
| Other amounts payable | 47/48 | €50,285 | €19,845 | -€30,440 | -60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,922 | €27,858 | -€64 | -0.2% |
| Other operating charges | 640/8 | €4,395 | €366 | -€4,029 | -91.7% |
| Gross operating margin | 9900 | €15,015 | €39,107 | +€24,092 | +160% |
| Operating profit (loss) | 9901 | -€17,302 | €10,884 | +€28,186 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €541 | €475 | -€66 | -12.1% |
| Recurring financial charges | 65 | €541 | €475 | -€66 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,842 | €10,409 | +€28,251 | |
| Income taxes | 67/77 | €148 | €141 | -€7 | -4.9% |
| Profit (loss) for the period | 9904 | -€17,991 | €10,268 | +€28,259 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,991 | €10,268 | +€28,259 |
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 31 October 2026 via checked.be.