KARAKTERRE: 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.
KARAKTERRE
Largest movements
- Stocks and contracts +€547,274
up €547,274 (+101%), from €542,202 to €1.1m
- Receivables within one year -€130,339
down €130,339 (-93.2%), from €139,830 to €9,491
of which Other amounts receivable: -€117,812
- Cash -€13,479
down €13,479 (-97.3%), from €13,860 to €381
mainly Stocks and contracts (-€547,274) and Trade debts (-€20,495)
- Debts after one year +€235,000
up €235,000 (+35.3%), from €665,000 to €900,000
- Other debts +€173,080
new in 2025: €173,080
- Accrued charges and deferred income +€31,954
up €31,954 (+300%), from €10,642 to €42,596
- Trade debts -€20,495
down €20,495 (-66.9%), from €30,634 to €10,139
- Profit (loss) carried forward -€18,486
down €18,486 (-129%), from -€14,300 to -€32,786
- Gross operating margin -€22,445
down €22,445, from €11,292 to -€11,153
- Financial charges -€18,866
down €18,866 (-97.8%), from €19,289 to €423
- Other operating charges +€5,529
up €5,529 (+539%), from €1,026 to €6,554
- Financial income -€1,203
down €1,203 (-74.5%), from €1,613 to €411
- Depreciation +€258
up €258 (+50.8%), from €508 to €766
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 | €702,376 | €1,103,216 | +€400,840 | +57.1% |
| Fixed assets | 21/28 | €3,322 | €2,556 | -€766 | -23.1% |
| Tangible fixed assets | 22/27 | €3,322 | €2,556 | -€766 | -23.1% |
| Furniture and vehicles | 24 | €3,322 | €2,556 | -€766 | -23.1% |
| Current assets | 29/58 | €699,054 | €1,100,660 | +€401,606 | +57.4% |
| Stocks and contracts in progress | 3 | €542,202 | €1,089,475 | +€547,274 | +101% |
| Stocks | 30/36 | €542,202 | €1,089,475 | +€547,274 | +101% |
| Amounts receivable within one year | 40/41 | €139,830 | €9,491 | -€130,339 | -93.2% |
| Trade receivables | 40 | €12,528 | €0 | -€12,528 | -100% |
| Other amounts receivable | 41 | €127,303 | €9,491 | -€117,812 | -92.5% |
| Cash at bank and in hand | 54/58 | €13,860 | €381 | -€13,479 | -97.3% |
| Deferred charges and accrued income | 490/1 | €3,162 | €1,313 | -€1,849 | -58.5% |
| Total equity and liabilities | 10/49 | €702,376 | €1,103,216 | +€400,840 | +57.1% |
| Equity | 10/15 | -€4,300 | -€22,786 | -€18,486 | -430% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,300 | -€32,786 | -€18,486 | -129% |
| Amounts payable | 17/49 | €706,677 | €1,126,003 | +€419,326 | +59.3% |
| Amounts payable after more than one year | 17 | €665,000 | €900,000 | +€235,000 | +35.3% |
| Financial debts | 170/4 | €665,000 | €900,000 | +€235,000 | +35.3% |
| Amounts payable within one year | 42/48 | €31,034 | €183,407 | +€152,372 | +491% |
| Financial debts | 43 | €400 | €188 | -€212 | -53.0% |
| Credit institutions | 430/8 | €400 | €188 | -€212 | -53.0% |
| Trade debts | 44 | €30,634 | €10,139 | -€20,495 | -66.9% |
| Suppliers | 440/4 | €30,634 | €10,139 | -€20,495 | -66.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €173,080 | +€173,080 | |
| Accrued charges and deferred income | 492/3 | €10,642 | €42,596 | +€31,954 | +300% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €508 | €766 | +€258 | +50.8% |
| Other operating charges | 640/8 | €1,026 | €6,554 | +€5,529 | +539% |
| Gross operating margin | 9900 | €11,292 | -€11,153 | -€22,445 | |
| Operating profit (loss) | 9901 | €9,759 | -€18,474 | -€28,232 | |
| Financial income | 75/76B | €1,613 | €411 | -€1,203 | -74.5% |
| Recurring financial income | 75 | €1,613 | €411 | -€1,203 | -74.5% |
| Financial charges | 65/66B | €19,289 | €423 | -€18,866 | -97.8% |
| Recurring financial charges | 65 | €19,289 | €423 | -€18,866 | -97.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,917 | -€18,486 | -€10,569 | -134% |
| Profit (loss) for the period | 9904 | -€7,917 | -€18,486 | -€10,569 | -134% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,917 | -€18,486 | -€10,569 | -134% |
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 14 October 2026 via checked.be.