KARA: 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.
KARA
Largest movements
- Receivables within one year +€31,639
up €31,639 (+126%), from €25,207 to €56,846
of which Trade receivables: +€35,804
- Stocks and contracts +€22,500
new in 2025: €22,500
- Tangible fixed assets -€16,834
down €16,834 (-60.0%), from €28,043 to €11,209
- Cash -€3,807
down €3,807 (-65.8%), from €5,782 to €1,975
mainly Other debts (-€43,651) and Receivables within one year (-€31,639)
- Debts after one year +€55,565
new in 2025: €55,565
- Other debts -€43,651
down €43,651 (-58.0%), from €75,196 to €31,545
- Short-term financial debts +€29,254
new in 2025: €29,254
- Profit (loss) carried forward -€8,195
down €8,195 (-40.0%), from -€20,479 to -€28,674
- Staff costs +€9,806
up €9,806 (+23.7%), from €41,403 to €51,209
- Gross operating margin -€7,972
down €7,972 (-11.2%), from €70,988 to €63,016
- Depreciation -€5,806
down €5,806 (-25.6%), from €22,640 to €16,834
- Taxes +€2,002
new in 2025: €2,002
- Financial charges -€996
down €996 (-71.9%), from €1,385 to €389
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 | €89,032 | €122,530 | +€33,498 | +37.6% |
| Fixed assets | 21/28 | €58,043 | €41,209 | -€16,834 | -29.0% |
| Intangible fixed assets | 21 | €30,000 | €30,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €28,043 | €11,209 | -€16,834 | -60.0% |
| Furniture and vehicles | 24 | €28,043 | €11,209 | -€16,834 | -60.0% |
| Current assets | 29/58 | €30,989 | €81,321 | +€50,332 | +162% |
| Stocks and contracts in progress | 3 | - | €22,500 | +€22,500 | |
| Stocks | 30/36 | - | €22,500 | +€22,500 | |
| Amounts receivable within one year | 40/41 | €25,207 | €56,846 | +€31,639 | +126% |
| Trade receivables | 40 | €21,042 | €56,846 | +€35,804 | +170% |
| Other amounts receivable | 41 | €4,165 | - | -€4,165 | |
| Cash at bank and in hand | 54/58 | €5,782 | €1,975 | -€3,807 | -65.8% |
| Total equity and liabilities | 10/49 | €89,032 | €122,530 | +€33,498 | +37.6% |
| Equity | 10/15 | -€28 | -€8,223 | -€8,195 | -29,268% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,479 | -€28,674 | -€8,195 | -40.0% |
| Amounts payable | 17/49 | €89,060 | €130,753 | +€41,693 | +46.8% |
| Amounts payable after more than one year | 17 | - | €55,565 | +€55,565 | |
| Other amounts payable | 178/9 | - | €55,565 | +€55,565 | |
| Amounts payable within one year | 42/48 | €89,060 | €75,188 | -€13,872 | -15.6% |
| Financial debts | 43 | - | €29,254 | +€29,254 | |
| Credit institutions | 430/8 | - | €29,254 | +€29,254 | |
| Trade debts | 44 | €8,705 | €9,383 | +€678 | +7.8% |
| Suppliers | 440/4 | €8,705 | €9,383 | +€678 | +7.8% |
| Taxes, remuneration and social security | 45 | €5,159 | €5,006 | -€153 | -3.0% |
| Taxes | 450/3 | €1,629 | €854 | -€775 | -47.6% |
| Remuneration and social security | 454/9 | €3,530 | €4,152 | +€622 | +17.6% |
| Other amounts payable | 47/48 | €75,196 | €31,545 | -€43,651 | -58.0% |
| Remuneration, social security and pensions | 62 | €41,403 | €51,209 | +€9,806 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,640 | €16,834 | -€5,806 | -25.6% |
| Other operating charges | 640/8 | €1,685 | €777 | -€908 | -53.9% |
| Gross operating margin | 9900 | €70,988 | €63,016 | -€7,972 | -11.2% |
| Operating profit (loss) | 9901 | €5,260 | -€5,804 | -€11,064 | |
| Financial charges | 65/66B | €1,385 | €389 | -€996 | -71.9% |
| Recurring financial charges | 65 | €1,385 | €389 | -€996 | -71.9% |
| Profit (loss) for the period before taxes | 9903 | €3,875 | -€6,193 | -€10,068 | |
| Income taxes | 67/77 | - | €2,002 | +€2,002 | |
| Profit (loss) for the period | 9904 | €3,875 | -€8,195 | -€12,070 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,875 | -€8,195 | -€12,070 |
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 18 October 2026 via checked.be.