KAR: 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.
KAR
Largest movements
- Tangible fixed assets +€12,474
up €12,474 (+30.5%), from €40,902 to €53,376
of which Plant, machinery and equipment: +€29,481
- Cash -€2,683
down €2,683 (-18.5%), from €14,484 to €11,801
mainly Investment in fixed assets (net) (-€36,650) and Debts after one year (-€9,977)
- Other debts +€14,400
up €14,400 (+1100.0%), from €1,309 to €15,709
- Debts after one year -€9,977
down €9,977 (-38.2%), from €26,131 to €16,154
- Trade debts +€2,548
up €2,548 (+185.2%), from €1,376 to €3,924
- Accrued charges and deferred income +€2,443
new in 2025: €2,443
- Tax, wage and social debts +€1,064
up €1,064 (+11.3%), from €9,406 to €10,470
of which Remuneration and social security: +€1,018
- Gross operating margin +€23,894
up €23,894 (+139.2%), from €17,165 to €41,059
- Staff costs +€15,192
new in 2025: €15,192
- Depreciation +€14,417
up €14,417 (+147.7%), from €9,758 to €24,176
- Taxes -€1,534
no longer reported in 2025 (was €1,534)
- Financial charges +€709
up €709 (+51.1%), from €1,389 to €2,098
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 | €60,602 | €70,646 | +€10,044 | +16.6% |
| Fixed assets | 21/28 | €43,752 | €56,226 | +€12,474 | +28.5% |
| Tangible fixed assets | 22/27 | €40,902 | €53,376 | +€12,474 | +30.5% |
| Plant, machinery and equipment | 23 | - | €29,481 | +€29,481 | |
| Furniture and vehicles | 24 | €40,902 | €23,896 | -€17,006 | -41.6% |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €16,850 | €14,420 | -€2,430 | -14.4% |
| Amounts receivable within one year | 40/41 | €504 | €232 | -€272 | -54.0% |
| Trade receivables | 40 | €504 | €232 | -€272 | -54.0% |
| Cash at bank and in hand | 54/58 | €14,484 | €11,801 | -€2,683 | -18.5% |
| Deferred charges and accrued income | 490/1 | €1,861 | €2,387 | +€525 | +28.2% |
| Total equity and liabilities | 10/49 | €60,602 | €70,646 | +€10,044 | +16.6% |
| Equity | 10/15 | €12,994 | €11,969 | -€1,025 | -7.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,994 | €5,969 | -€1,025 | -14.7% |
| Amounts payable | 17/49 | €47,608 | €58,677 | +€11,069 | +23.2% |
| Amounts payable after more than one year | 17 | €26,131 | €16,154 | -€9,977 | -38.2% |
| Financial debts | 170/4 | €26,131 | €16,154 | -€9,977 | -38.2% |
| Amounts payable within one year | 42/48 | €21,478 | €40,080 | +€18,603 | +86.6% |
| Current portion of amounts payable after more than one year | 42 | €9,387 | €9,977 | +€590 | +6.3% |
| Trade debts | 44 | €1,376 | €3,924 | +€2,548 | +185.2% |
| Suppliers | 440/4 | €1,376 | €3,924 | +€2,548 | +185.2% |
| Taxes, remuneration and social security | 45 | €9,406 | €10,470 | +€1,064 | +11.3% |
| Taxes | 450/3 | €4,556 | €4,603 | +€47 | +1.0% |
| Remuneration and social security | 454/9 | €4,850 | €5,868 | +€1,018 | +21.0% |
| Other amounts payable | 47/48 | €1,309 | €15,709 | +€14,400 | +1100.0% |
| Accrued charges and deferred income | 492/3 | - | €2,443 | +€2,443 | |
| Remuneration, social security and pensions | 62 | - | €15,192 | +€15,192 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,758 | €24,176 | +€14,417 | +147.7% |
| Other operating charges | 640/8 | €595 | €620 | +€25 | +4.3% |
| Non-recurring operating charges | 66A | €180 | - | -€180 | |
| Gross operating margin | 9900 | €17,165 | €41,059 | +€23,894 | +139.2% |
| Operating profit (loss) | 9901 | €6,631 | €1,071 | -€5,560 | -83.9% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Non-recurring financial income | 76B | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,389 | €2,098 | +€709 | +51.1% |
| Recurring financial charges | 65 | €1,389 | €2,098 | +€709 | +51.1% |
| Profit (loss) for the period before taxes | 9903 | €5,242 | -€1,025 | -€6,267 | |
| Income taxes | 67/77 | €1,534 | - | -€1,534 | |
| Profit (loss) for the period | 9904 | €3,709 | -€1,025 | -€4,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,709 | -€1,025 | -€4,733 |
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 10 October 2026 via checked.be.