KARABE: what changed
Two fiscal 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.
KARABE
Largest movements
- Tangible fixed assets -€8,789
down €8,789 (-3.6%), from €243,655 to €234,866
of which Land and buildings: -€8,555
- Receivables within one year +€5,794
up €5,794 (+165.8%), from €3,494 to €9,288
- Other debts +€41,106
up €41,106 (+9.3%), from €442,448 to €483,554
- Current portion of long-term debt -€27,770
no longer reported in 2025 (was €27,770)
- Profit (loss) carried forward -€10,351
down €10,351 (-1.1%), from -€966,717 to -€977,068
- Trade debts -€6,169
down €6,169 (-6.0%), from €102,391 to €96,222
- Tax, wage and social debts +€4,071
up €4,071 (+40.8%), from €9,966 to €14,037
- Financial charges +€13,441
up €13,441 (+69.6%), from €19,324 to €32,765
- Gross operating margin +€6,093
up €6,093 (+24.2%), from €25,165 to €31,257
- Depreciation -€4,228
down €4,228 (-32.5%), from €13,017 to €8,789
- Other operating charges +€1,525
up €1,525 (+95.7%), from €1,594 to €3,119
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 | €247,821 | €245,459 | -€2,361 | -1.0% |
| Fixed assets | 21/28 | €243,655 | €234,866 | -€8,789 | -3.6% |
| Tangible fixed assets | 22/27 | €243,655 | €234,866 | -€8,789 | -3.6% |
| Land and buildings | 22 | €242,955 | €234,400 | -€8,555 | -3.5% |
| Furniture and vehicles | 24 | €435 | €259 | -€176 | -40.5% |
| Other tangible fixed assets | 26 | €266 | €208 | -€58 | -21.8% |
| Current assets | 29/58 | €4,165 | €10,593 | +€6,428 | +154.3% |
| Amounts receivable within one year | 40/41 | €3,494 | €9,288 | +€5,794 | +165.8% |
| Trade receivables | 40 | €3,494 | €9,288 | +€5,794 | +165.8% |
| Cash at bank and in hand | 54/58 | €671 | €1,305 | +€634 | +94.4% |
| Total equity and liabilities | 10/49 | €247,821 | €245,459 | -€2,361 | -1.0% |
| Equity | 10/15 | -€357,996 | -€370,782 | -€12,786 | -3.6% |
| Contributions | 10/11 | €490,000 | €490,000 | = | 0.0% |
| Capital | 10 | €490,000 | €490,000 | = | 0.0% |
| Issued capital | 100 | €490,000 | €490,000 | = | 0.0% |
| Reserves | 13 | €118,721 | €116,285 | -€2,436 | -2.1% |
| Non-distributable reserves | 130/1 | €49,000 | €49,000 | = | 0.0% |
| Legal reserve | 130 | €49,000 | €49,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,721 | €67,285 | -€2,436 | -3.5% |
| Profit (loss) carried forward | 14 | -€966,717 | -€977,068 | -€10,351 | -1.1% |
| Provisions and deferred taxes | 16 | €23,240 | €22,428 | -€812 | -3.5% |
| Deferred taxes | 168 | €23,240 | €22,428 | -€812 | -3.5% |
| Amounts payable | 17/49 | €582,576 | €593,813 | +€11,237 | +1.9% |
| Amounts payable within one year | 42/48 | €582,576 | €593,813 | +€11,237 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €27,770 | - | -€27,770 | |
| Financial debts | 43 | €1 | - | -€1 | |
| Credit institutions | 430/8 | €1 | - | -€1 | |
| Trade debts | 44 | €102,391 | €96,222 | -€6,169 | -6.0% |
| Suppliers | 440/4 | €102,391 | €96,222 | -€6,169 | -6.0% |
| Taxes, remuneration and social security | 45 | €9,966 | €14,037 | +€4,071 | +40.8% |
| Taxes | 450/3 | €9,966 | €14,037 | +€4,071 | +40.8% |
| Other amounts payable | 47/48 | €442,448 | €483,554 | +€41,106 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,017 | €8,789 | -€4,228 | -32.5% |
| Other operating charges | 640/8 | €1,594 | €3,119 | +€1,525 | +95.7% |
| Gross operating margin | 9900 | €25,165 | €31,257 | +€6,093 | +24.2% |
| Operating profit (loss) | 9901 | €10,554 | €19,350 | +€8,796 | +83.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €19,324 | €32,765 | +€13,441 | +69.6% |
| Recurring financial charges | 65 | €19,324 | €32,765 | +€13,441 | +69.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,769 | -€13,415 | -€4,646 | -53.0% |
| Transfer from deferred taxes | 780 | €812 | €812 | = | 0.0% |
| Income taxes | 67/77 | €177 | €183 | +€6 | +3.1% |
| Profit (loss) for the period | 9904 | -€8,135 | -€12,786 | -€4,652 | -57.2% |
| Transfer from tax-exempt reserves | 789 | €2,436 | €2,436 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,699 | -€10,351 | -€4,652 | -81.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.