DE KARWEI: 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.
DE KARWEI
Largest movements
- Tangible fixed assets -€13,087
down €13,087 (-31.3%), from €41,877 to €28,790
of which Furniture and vehicles: -€12,799
- Receivables within one year +€8,036
up €8,036 (+70.3%), from €11,424 to €19,460
of which Trade receivables: +€5,808
- Cash +€3,211
up €3,211 (+11.5%), from €27,889 to €31,100
mainly Depreciation (+€13,925) and Net result for the year (+€4,715)
- Stocks and contracts -€1,598
down €1,598 (-9.5%), from €16,733 to €15,135
of which Contracts in progress: -€865
- Debts after one year -€9,903
down €9,903 (-49.2%), from €20,130 to €10,227
- Reserves +€4,715
up €4,715 (+22.4%), from €21,047 to €25,763
- Other debts -€2,942
down €2,942 (-7.2%), from €40,814 to €37,872
- Trade debts +€2,712
up €2,712 (+89.0%), from €3,048 to €5,760
- Tax, wage and social debts +€1,705
up €1,705 (+881.2%), from €193 to €1,898
of which Remuneration and social security: +€1,898
- Gross operating margin -€5,546
down €5,546 (-19.7%), from €28,118 to €22,572
- Taxes -€1,098
down €1,098 (-42.1%), from €2,607 to €1,509
- Other operating charges +€1,041
up €1,041 (+226.0%), from €461 to €1,502
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 | €99,623 | €96,223 | -€3,400 | -3.4% |
| Fixed assets | 21/28 | €42,927 | €29,840 | -€13,087 | -30.5% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -44.4% |
| Tangible fixed assets | 22/27 | €41,877 | €28,790 | -€13,087 | -31.3% |
| Plant, machinery and equipment | 23 | €2,427 | €2,139 | -€287 | -11.8% |
| Furniture and vehicles | 24 | €39,450 | €26,651 | -€12,799 | -32.4% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €56,696 | €66,383 | +€9,687 | +17.1% |
| Stocks and contracts in progress | 3 | €16,733 | €15,135 | -€1,598 | -9.5% |
| Stocks | 30/36 | €1,978 | €1,245 | -€733 | -37.1% |
| Contracts in progress | 37 | €14,755 | €13,890 | -€865 | -5.9% |
| Amounts receivable within one year | 40/41 | €11,424 | €19,460 | +€8,036 | +70.3% |
| Trade receivables | 40 | €10,529 | €16,338 | +€5,808 | +55.2% |
| Other amounts receivable | 41 | €895 | €3,123 | +€2,228 | +249.0% |
| Cash at bank and in hand | 54/58 | €27,889 | €31,100 | +€3,211 | +11.5% |
| Deferred charges and accrued income | 490/1 | €650 | €688 | +€38 | +5.9% |
| Total equity and liabilities | 10/49 | €99,623 | €96,223 | -€3,400 | -3.4% |
| Equity | 10/15 | €25,847 | €30,563 | +€4,715 | +18.2% |
| Contributions | 10/11 | €4,800 | €4,800 | = | 0.0% |
| Reserves | 13 | €21,047 | €25,763 | +€4,715 | +22.4% |
| Distributable reserves | 133 | €21,047 | €25,763 | +€4,715 | +22.4% |
| Amounts payable | 17/49 | €73,776 | €65,661 | -€8,115 | -11.0% |
| Amounts payable after more than one year | 17 | €20,130 | €10,227 | -€9,903 | -49.2% |
| Financial debts | 170/4 | €20,130 | €10,227 | -€9,903 | -49.2% |
| Amounts payable within one year | 42/48 | €53,645 | €55,434 | +€1,788 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €9,590 | €9,903 | +€313 | +3.3% |
| Trade debts | 44 | €3,048 | €5,760 | +€2,712 | +89.0% |
| Suppliers | 440/4 | €3,048 | €5,760 | +€2,712 | +89.0% |
| Taxes, remuneration and social security | 45 | €193 | €1,898 | +€1,705 | +881.2% |
| Taxes | 450/3 | €193 | €0 | -€193 | -100.0% |
| Remuneration and social security | 454/9 | €0 | €1,898 | +€1,898 | |
| Other amounts payable | 47/48 | €40,814 | €37,872 | -€2,942 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,924 | €13,925 | +€1 | 0.0% |
| Other operating charges | 640/8 | €461 | €1,502 | +€1,041 | +226.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €28,118 | €22,572 | -€5,546 | -19.7% |
| Operating profit (loss) | 9901 | €13,734 | €7,145 | -€6,588 | -48.0% |
| Financial income | 75/76B | €10 | €2 | -€8 | -77.9% |
| Recurring financial income | 75 | €10 | €2 | -€8 | -77.9% |
| Financial charges | 65/66B | €1,171 | €923 | -€248 | -21.2% |
| Recurring financial charges | 65 | €1,171 | €923 | -€248 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €12,573 | €6,225 | -€6,348 | -50.5% |
| Income taxes | 67/77 | €2,607 | €1,509 | -€1,098 | -42.1% |
| Profit (loss) for the period | 9904 | €9,966 | €4,715 | -€5,250 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,966 | €4,715 | -€5,250 | -52.7% |
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 9 October 2026 via checked.be.