DR. KAREN DAM: what changed
DR. KAREN DAM
Largest movements
- Cash -€56,280
down €56,280 (-58.3%), from €96,587 to €40,307
mainly Contributions, distributions and other (-€76,471) and Investment in fixed assets (net) (-€56,756)
- Tangible fixed assets +€47,660
up €47,660 (+366%), from €13,018 to €60,678
of which Furniture and vehicles: +€38,498
- Deferred charges and accrued income -€42,902
down €42,902 (-52.1%), from €82,276 to €39,374
- Receivables within one year +€18,078
up €18,078 (+67.3%), from €26,879 to €44,957
of which Other amounts receivable: +€15,578
- Profit (loss) carried forward -€20,325
down €20,325 (-13.1%), from €155,384 to €135,059
- Tax, wage and social debts -€14,738
down €14,738 (-24.1%), from €61,209 to €46,471
- Gross operating margin -€109,889
down €109,889 (-57.7%), from €190,544 to €80,655
- Taxes -€31,588
down €31,588 (-68.0%), from €46,471 to €14,883
- Depreciation +€4,691
up €4,691 (+106%), from €4,405 to €9,096
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €218,760 | €185,316 | -€33,444 | -15.3% |
| Fixed assets | 21/28 | €13,018 | €60,678 | +€47,660 | +366% |
| Tangible fixed assets | 22/27 | €13,018 | €60,678 | +€47,660 | +366% |
| Plant, machinery and equipment | 23 | €11,078 | €20,239 | +€9,162 | +82.7% |
| Furniture and vehicles | 24 | €1,941 | €40,439 | +€38,498 | +1,984% |
| Current assets | 29/58 | €205,742 | €124,638 | -€81,104 | -39.4% |
| Amounts receivable within one year | 40/41 | €26,879 | €44,957 | +€18,078 | +67.3% |
| Trade receivables | 40 | - | €2,500 | +€2,500 | |
| Other amounts receivable | 41 | €26,879 | €42,457 | +€15,578 | +58.0% |
| Cash at bank and in hand | 54/58 | €96,587 | €40,307 | -€56,280 | -58.3% |
| Deferred charges and accrued income | 490/1 | €82,276 | €39,374 | -€42,902 | -52.1% |
| Total equity and liabilities | 10/49 | €218,760 | €185,316 | -€33,444 | -15.3% |
| Equity | 10/15 | €157,384 | €137,059 | -€20,325 | -12.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,384 | €135,059 | -€20,325 | -13.1% |
| Amounts payable | 17/49 | €61,376 | €48,257 | -€13,119 | -21.4% |
| Amounts payable within one year | 42/48 | €61,376 | €48,257 | -€13,119 | -21.4% |
| Trade debts | 44 | €167 | €668 | +€500 | +299% |
| Suppliers | 440/4 | €167 | €668 | +€500 | +299% |
| Taxes, remuneration and social security | 45 | €61,209 | €46,471 | -€14,738 | -24.1% |
| Taxes | 450/3 | €61,209 | €46,471 | -€14,738 | -24.1% |
| Other amounts payable | 47/48 | - | €1,118 | +€1,118 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,405 | €9,096 | +€4,691 | +106% |
| Other operating charges | 640/8 | €477 | €1,527 | +€1,050 | +220% |
| Gross operating margin | 9900 | €190,544 | €80,655 | -€109,889 | -57.7% |
| Operating profit (loss) | 9901 | €185,662 | €70,033 | -€115,629 | -62.3% |
| Financial income | 75/76B | €785 | €1,416 | +€631 | +80.5% |
| Recurring financial income | 75 | €785 | €1,416 | +€631 | +80.5% |
| Financial charges | 65/66B | €254 | €420 | +€167 | +65.7% |
| Recurring financial charges | 65 | €254 | €420 | +€167 | +65.7% |
| Profit (loss) for the period before taxes | 9903 | €186,193 | €71,028 | -€115,165 | -61.9% |
| Income taxes | 67/77 | €46,471 | €14,883 | -€31,588 | -68.0% |
| Profit (loss) for the period | 9904 | €139,722 | €56,146 | -€83,577 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €139,722 | €56,146 | -€83,577 | -59.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.