KARAMEL: 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.
KARAMEL
Largest movements
- Cash -€341
down €341 (-22.4%), from €1,523 to €1,182
mainly Net result for the year (-€2,806)
- Formation expenses -€260
down €260 (-52.3%), from €497 to €237
- Receivables within one year -€156
down €156 (-35.0%), from €446 to €290
- Profit (loss) carried forward -€2,806
down €2,806 (-33.0%), from -€8,510 to -€11,316
- Trade debts +€2,000
up €2,000 (+37.7%), from €5,299 to €7,300
- Tax, wage and social debts +€33
new in 2025: €33
- Gross operating margin +€3,541
up €3,541 (+67.5%), from -€5,250 to -€1,709
- Other operating charges +€116
up €116 (+29.9%), from €387 to €503
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 | €2,466 | €1,708 | -€757 | -30.7% |
| Formation expenses | 20 | €497 | €237 | -€260 | -52.3% |
| Current assets | 29/58 | €1,969 | €1,471 | -€497 | -25.3% |
| Amounts receivable within one year | 40/41 | €446 | €290 | -€156 | -35.0% |
| Trade receivables | 40 | €446 | €290 | -€156 | -35.0% |
| Cash at bank and in hand | 54/58 | €1,523 | €1,182 | -€341 | -22.4% |
| Total equity and liabilities | 10/49 | €2,466 | €1,708 | -€757 | -30.7% |
| Equity | 10/15 | -€3,510 | -€6,316 | -€2,806 | -80.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,510 | -€11,316 | -€2,806 | -33.0% |
| Amounts payable | 17/49 | €5,976 | €8,024 | +€2,049 | +34.3% |
| Amounts payable within one year | 42/48 | €5,976 | €8,024 | +€2,049 | +34.3% |
| Trade debts | 44 | €5,299 | €7,300 | +€2,000 | +37.7% |
| Suppliers | 440/4 | €5,299 | €7,300 | +€2,000 | +37.7% |
| Taxes, remuneration and social security | 45 | - | €33 | +€33 | |
| Taxes | 450/3 | - | €33 | +€33 | |
| Other amounts payable | 47/48 | €676 | €692 | +€15 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260 | €260 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €503 | +€116 | +29.9% |
| Gross operating margin | 9900 | -€5,250 | -€1,709 | +€3,541 | +67.5% |
| Operating profit (loss) | 9901 | -€5,898 | -€2,472 | +€3,425 | +58.1% |
| Financial charges | 65/66B | €297 | €334 | +€37 | +12.3% |
| Recurring financial charges | 65 | €297 | €334 | +€37 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,195 | -€2,806 | +€3,389 | +54.7% |
| Profit (loss) for the period | 9904 | -€6,195 | -€2,806 | +€3,389 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,195 | -€2,806 | +€3,389 | +54.7% |
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 28 September 2026 via checked.be.