KARAN: 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.
KARAN
Largest movements
- Stocks and contracts +€10,704
up €10,704 (+81.3%), from €13,167 to €23,871
- Cash -€9,676
down €9,676 (-83.1%), from €11,641 to €1,965
mainly Investment in fixed assets (net) (-€11,349) and Stocks and contracts (-€10,704)
- Tangible fixed assets +€9,079
new in 2025: €9,079
- Receivables within one year +€1,326
new in 2025: €1,326
- Trade debts +€12,247
up €12,247 (+1,426%), from €859 to €13,106
- Tax, wage and social debts +€1,632
up €1,632 (+44.5%), from €3,666 to €5,299
of which Remuneration and social security: +€1,653
- Debts after one year -€1,260
down €1,260 (-12.7%), from €9,925 to €8,665
of which Trade debts: -€2,760
- Profit (loss) carried forward -€1,187
down €1,187 (-6.5%), from €18,257 to €17,071
- Gross operating margin +€7,653
up €7,653 (+28.5%), from €26,894 to €34,547
- Taxes +€6,610
new in 2025: €6,610
- Depreciation +€2,270
new in 2025: €2,270
- Other operating charges -€640
down €640 (-29.1%), from €2,201 to €1,561
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 | €35,708 | €47,141 | +€11,433 | +32.0% |
| Fixed assets | 21/28 | €10,900 | €19,979 | +€9,079 | +83.3% |
| Tangible fixed assets | 22/27 | - | €9,079 | +€9,079 | |
| Furniture and vehicles | 24 | - | €9,079 | +€9,079 | |
| Financial fixed assets | 28 | €10,900 | €10,900 | = | 0.0% |
| Current assets | 29/58 | €24,808 | €27,162 | +€2,354 | +9.5% |
| Stocks and contracts in progress | 3 | €13,167 | €23,871 | +€10,704 | +81.3% |
| Stocks | 30/36 | €13,167 | €23,871 | +€10,704 | +81.3% |
| Amounts receivable within one year | 40/41 | - | €1,326 | +€1,326 | |
| Trade receivables | 40 | - | €1,326 | +€1,326 | |
| Cash at bank and in hand | 54/58 | €11,641 | €1,965 | -€9,676 | -83.1% |
| Total equity and liabilities | 10/49 | €35,708 | €47,141 | +€11,433 | +32.0% |
| Equity | 10/15 | €21,257 | €20,071 | -€1,187 | -5.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,257 | €17,071 | -€1,187 | -6.5% |
| Amounts payable | 17/49 | €14,450 | €27,070 | +€12,620 | +87.3% |
| Amounts payable after more than one year | 17 | €9,925 | €8,665 | -€1,260 | -12.7% |
| Financial debts | 170/4 | - | €1,500 | +€1,500 | |
| Trade debts | 175 | €9,925 | €7,165 | -€2,760 | -27.8% |
| Amounts payable within one year | 42/48 | €4,525 | €18,405 | +€13,879 | +307% |
| Trade debts | 44 | €859 | €13,106 | +€12,247 | +1,426% |
| Suppliers | 440/4 | €859 | €13,106 | +€12,247 | +1,426% |
| Taxes, remuneration and social security | 45 | €3,666 | €5,299 | +€1,632 | +44.5% |
| Taxes | 450/3 | €2,575 | €2,553 | -€21 | -0.8% |
| Remuneration and social security | 454/9 | €1,092 | €2,745 | +€1,653 | +151% |
| Remuneration, social security and pensions | 62 | €24,818 | €24,873 | +€55 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,270 | +€2,270 | |
| Other operating charges | 640/8 | €2,201 | €1,561 | -€640 | -29.1% |
| Gross operating margin | 9900 | €26,894 | €34,547 | +€7,653 | +28.5% |
| Operating profit (loss) | 9901 | -€125 | €5,843 | +€5,968 | |
| Financial charges | 65/66B | €394 | €419 | +€25 | +6.3% |
| Recurring financial charges | 65 | €394 | €419 | +€25 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€520 | €5,424 | +€5,944 | |
| Income taxes | 67/77 | - | €6,610 | +€6,610 | |
| Profit (loss) for the period | 9904 | -€520 | -€1,187 | -€667 | -128% |
| Profit (loss) for the period to be appropriated | 9905 | -€520 | -€1,187 | -€667 | -128% |
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 1 November 2026 via checked.be.