KARAAD: what changed
KARAAD
Largest movements
- Cash +€30,217
up €30,217 (+154%), from €19,650 to €49,868
mainly Net result for the year (+€30,025) and Depreciation (+€8,184)
- Tangible fixed assets -€5,985
down €5,985 (-18.5%), from €32,265 to €26,281
of which Furniture and vehicles: -€7,762
- Receivables after one year -€3,198
no longer reported in 2025 (was €3,198)
- Receivables within one year +€1,391
new in 2025: €1,391
- Reserves +€30,025
up €30,025 (+317%), from €9,486 to €39,511
- Other debts -€12,825
down €12,825 (-35.2%), from €36,427 to €23,602
- Tax, wage and social debts +€5,253
up €5,253 (+141%), from €3,732 to €8,985
- Gross operating margin +€27,858
up €27,858 (+133%), from €20,932 to €48,789
- Taxes +€5,253
up €5,253 (+141%), from €3,732 to €8,985
- Depreciation +€1,114
up €1,114 (+15.8%), from €7,070 to €8,184
- Other operating charges +€763
up €763 (+1,231%), from €62 to €825
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 | €55,113 | €77,589 | +€22,476 | +40.8% |
| Fixed assets | 21/28 | €32,265 | €26,331 | -€5,935 | -18.4% |
| Tangible fixed assets | 22/27 | €32,265 | €26,281 | -€5,985 | -18.5% |
| Furniture and vehicles | 24 | €32,265 | €24,503 | -€7,762 | -24.1% |
| Other tangible fixed assets | 26 | - | €1,778 | +€1,778 | |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €22,848 | €51,258 | +€28,410 | +124% |
| Amounts receivable after more than one year | 29 | €3,198 | - | -€3,198 | |
| Other amounts receivable | 291 | €3,198 | - | -€3,198 | |
| Amounts receivable within one year | 40/41 | - | €1,391 | +€1,391 | |
| Other amounts receivable | 41 | - | €1,391 | +€1,391 | |
| Cash at bank and in hand | 54/58 | €19,650 | €49,868 | +€30,217 | +154% |
| Total equity and liabilities | 10/49 | €55,113 | €77,589 | +€22,476 | +40.8% |
| Equity | 10/15 | €12,486 | €42,511 | +€30,025 | +240% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €9,486 | €39,511 | +€30,025 | +317% |
| Distributable reserves | 133 | €9,486 | €39,511 | +€30,025 | +317% |
| Amounts payable | 17/49 | €42,628 | €35,078 | -€7,550 | -17.7% |
| Amounts payable within one year | 42/48 | €42,628 | €35,078 | -€7,550 | -17.7% |
| Trade debts | 44 | €2,468 | €2,491 | +€22 | +0.9% |
| Suppliers | 440/4 | €2,468 | €2,491 | +€22 | +0.9% |
| Taxes, remuneration and social security | 45 | €3,732 | €8,985 | +€5,253 | +141% |
| Taxes | 450/3 | €3,732 | €8,985 | +€5,253 | +141% |
| Other amounts payable | 47/48 | €36,427 | €23,602 | -€12,825 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,070 | €8,184 | +€1,114 | +15.8% |
| Other operating charges | 640/8 | €62 | €825 | +€763 | +1,231% |
| Gross operating margin | 9900 | €20,932 | €48,789 | +€27,858 | +133% |
| Operating profit (loss) | 9901 | €13,800 | €39,780 | +€25,980 | +188% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €582 | €770 | +€187 | +32.2% |
| Recurring financial charges | 65 | €190 | €770 | +€580 | +305% |
| Non-recurring financial charges | 66B | €392 | - | -€392 | |
| Profit (loss) for the period before taxes | 9903 | €13,218 | €39,011 | +€25,793 | +195% |
| Income taxes | 67/77 | €3,732 | €8,985 | +€5,253 | +141% |
| Profit (loss) for the period | 9904 | €9,486 | €30,025 | +€20,540 | +217% |
| Profit (loss) for the period to be appropriated | 9905 | €9,486 | €30,025 | +€20,540 | +217% |
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 2 November 2026 via checked.be.