KARAKORUM: 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.
KARAKORUM
Largest movements
- Tangible fixed assets -€49,275
no longer reported in 2025 (was €49,275)
- Other debts -€26,420
down €26,420 (-17.4%), from €152,107 to €125,687
- Profit (loss) carried forward -€16,821
down €16,821 (-11.7%), from -€143,673 to -€160,494
- Short-term financial debts -€7,981
down €7,981 (-53.2%), from €15,004 to €7,023
- Tax, wage and social debts +€4,429
up €4,429 (+312.0%), from €1,420 to €5,849
- Current portion of long-term debt -€1,803
no longer reported in 2025 (was €1,803)
- Gross operating margin +€23,077
up €23,077, from -€3,545 to €19,533
- Financial charges +€8,587
up €8,587 (+423.0%), from €2,030 to €10,617
of which Non-recurring financial charges: +€8,540
- Depreciation -€5,177
no longer reported in 2025 (was €5,177)
- Other operating charges -€340
no longer reported in 2025 (was €340)
- Taxes -€215
no longer reported in 2025 (was €215)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,275 | - | -€49,275 | |
| Fixed assets | 21/28 | €49,275 | - | -€49,275 | |
| Tangible fixed assets | 22/27 | €49,275 | - | -€49,275 | |
| Furniture and vehicles | 24 | €49,275 | - | -€49,275 | |
| Total equity and liabilities | 10/49 | €49,275 | - | -€49,275 | |
| Equity | 10/15 | -€123,213 | -€140,034 | -€16,821 | -13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€143,673 | -€160,494 | -€16,821 | -11.7% |
| Amounts payable | 17/49 | €172,489 | €140,034 | -€32,454 | -18.8% |
| Amounts payable within one year | 42/48 | €172,489 | €140,034 | -€32,454 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €1,803 | - | -€1,803 | |
| Financial debts | 43 | €15,004 | €7,023 | -€7,981 | -53.2% |
| Credit institutions | 430/8 | €15,004 | €7,023 | -€7,981 | -53.2% |
| Trade debts | 44 | €2,154 | €1,475 | -€679 | -31.5% |
| Suppliers | 440/4 | €2,154 | €1,475 | -€679 | -31.5% |
| Taxes, remuneration and social security | 45 | €1,420 | €5,849 | +€4,429 | +312.0% |
| Taxes | 450/3 | €1,420 | €5,849 | +€4,429 | +312.0% |
| Other amounts payable | 47/48 | €152,107 | €125,687 | -€26,420 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,177 | - | -€5,177 | |
| Other operating charges | 640/8 | €340 | - | -€340 | |
| Non-recurring operating charges | 66A | - | €25,737 | +€25,737 | |
| Gross operating margin | 9900 | -€3,545 | €19,533 | +€23,077 | |
| Operating profit (loss) | 9901 | -€9,062 | -€6,204 | +€2,857 | +31.5% |
| Financial charges | 65/66B | €2,030 | €10,617 | +€8,587 | +423.0% |
| Recurring financial charges | 65 | €2,030 | €2,076 | +€47 | +2.3% |
| Non-recurring financial charges | 66B | - | €8,540 | +€8,540 | |
| Profit (loss) for the period before taxes | 9903 | -€11,091 | -€16,821 | -€5,730 | -51.7% |
| Income taxes | 67/77 | €215 | - | -€215 | |
| Profit (loss) for the period | 9904 | -€11,307 | -€16,821 | -€5,514 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,307 | -€16,821 | -€5,514 | -48.8% |
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 8 October 2026 via checked.be.