KARAFKE: 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.
KARAFKE
Largest movements
- Receivables within one year +€44,954
up €44,954 (+25.0%), from €179,870 to €224,824
of which Other amounts receivable: +€36,578
- Other debts +€629,149
new in 2025: €629,149
- Profit (loss) carried forward -€452,487
down €452,487 (-100.0%), from €452,487 to €0
- Reserves -€68,052
down €68,052 (-30.7%), from €221,621 to €153,569
of which Distributable reserves: -€68,052
- Tax, wage and social debts -€36,564
down €36,564 (-32.6%), from €111,989 to €75,425
- Current portion of long-term debt -€19,337
down €19,337 (-27.1%), from €71,413 to €52,075
- Gross operating margin +€34,356
up €34,356 (+14.2%), from €242,664 to €277,019
- Taxes -€16,624
down €16,624 (-20.5%), from €80,927 to €64,303
- Other operating charges +€7,592
up €7,592 (+1001.6%), from €758 to €8,350
- Financial charges +€3,006
up €3,006 (+29.0%), from €10,377 to €13,383
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 | €1,014,637 | €1,060,943 | +€46,306 | +4.6% |
| Fixed assets | 21/28 | €141,064 | €131,408 | -€9,656 | -6.8% |
| Tangible fixed assets | 22/27 | €141,064 | €131,408 | -€9,656 | -6.8% |
| Land and buildings | 22 | €137,717 | €128,967 | -€8,750 | -6.4% |
| Plant, machinery and equipment | 23 | €2,340 | €1,829 | -€511 | -21.8% |
| Furniture and vehicles | 24 | €1,008 | €612 | -€396 | -39.3% |
| Current assets | 29/58 | €873,573 | €929,535 | +€55,963 | +6.4% |
| Amounts receivable after more than one year | 29 | €323,522 | €323,522 | = | 0.0% |
| Other amounts receivable | 291 | €323,522 | €323,522 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €179,870 | €224,824 | +€44,954 | +25.0% |
| Trade receivables | 40 | €34,321 | €42,697 | +€8,376 | +24.4% |
| Other amounts receivable | 41 | €145,549 | €182,127 | +€36,578 | +25.1% |
| Current investments | 50/53 | €303,790 | €309,390 | +€5,600 | +1.8% |
| Cash at bank and in hand | 54/58 | €65,916 | €71,799 | +€5,884 | +8.9% |
| Deferred charges and accrued income | 490/1 | €475 | €0 | -€475 | -100.0% |
| Total equity and liabilities | 10/49 | €1,014,637 | €1,060,943 | +€46,306 | +4.6% |
| Equity | 10/15 | €692,708 | €172,169 | -€520,539 | -75.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €221,621 | €153,569 | -€68,052 | -30.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €202,871 | €134,819 | -€68,052 | -33.5% |
| Profit (loss) carried forward | 14 | €452,487 | €0 | -€452,487 | -100.0% |
| Amounts payable | 17/49 | €321,929 | €888,774 | +€566,845 | +176.1% |
| Amounts payable after more than one year | 17 | €131,524 | €120,177 | -€11,347 | -8.6% |
| Financial debts | 170/4 | €131,524 | €120,177 | -€11,347 | -8.6% |
| Amounts payable within one year | 42/48 | €190,405 | €768,597 | +€578,192 | +303.7% |
| Current portion of amounts payable after more than one year | 42 | €71,413 | €52,075 | -€19,337 | -27.1% |
| Trade debts | 44 | €7,003 | €11,947 | +€4,945 | +70.6% |
| Suppliers | 440/4 | €7,003 | €11,947 | +€4,945 | +70.6% |
| Taxes, remuneration and social security | 45 | €111,989 | €75,425 | -€36,564 | -32.6% |
| Taxes | 450/3 | €111,989 | €75,425 | -€36,564 | -32.6% |
| Other amounts payable | 47/48 | - | €629,149 | +€629,149 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,257 | €16,182 | -€75 | -0.5% |
| Other operating charges | 640/8 | €758 | €8,350 | +€7,592 | +1001.6% |
| Gross operating margin | 9900 | €242,664 | €277,019 | +€34,356 | +14.2% |
| Operating profit (loss) | 9901 | €225,649 | €252,488 | +€26,839 | +11.9% |
| Financial income | 75/76B | €475 | €0 | -€475 | -99.9% |
| Recurring financial income | 75 | €475 | €0 | -€475 | -99.9% |
| Financial charges | 65/66B | €10,377 | €13,383 | +€3,006 | +29.0% |
| Recurring financial charges | 65 | €10,377 | €13,383 | +€3,006 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €215,746 | €239,105 | +€23,359 | +10.8% |
| Income taxes | 67/77 | €80,927 | €64,303 | -€16,624 | -20.5% |
| Profit (loss) for the period | 9904 | €134,819 | €174,802 | +€39,983 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €134,819 | €174,802 | +€39,983 | +29.7% |
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 5 October 2026 via checked.be.