KARANI: 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.
What changed
KARANI
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€44,938
2024 · €75,194-€30,255
Equity
€534,194
2024 · €489,256+€44,938
Cash
€23,766
2024 · €19,724+€4,042
Balance sheet total
€989,016
2024 · €1.0m-€30,015
Largest movements
Assets
- Tangible fixed assets -€32,104
down €32,104 (-3.2%), from €995,571 to €963,467
of which Land and buildings: -€35,266
Equity and liabilities
- Debts after one year -€71,501
down €71,501 (-39.1%), from €183,053 to €111,552
- Reserves +€44,938
up €44,938 (+22.0%), from €204,408 to €249,346
of which Distributable reserves: +€56,308
Income statement
- Gross operating margin -€63,577
down €63,577 (-25.6%), from €248,134 to €184,557
- Taxes -€23,604
down €23,604 (-47.3%), from €49,928 to €26,324
- Staff costs -€7,076
down €7,076 (-12.1%), from €58,303 to €51,227
- Financial charges -€2,867
down €2,867 (-24.1%), from €11,895 to €9,028
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.
Result 2024
€75,194
Gross operating margin
-€63,577
Staff costs
+€7,076
Depreciation
-€256
Other operating charges
+€29
Financial income
+€2
Financial charges
+€2,867
Taxes
+€23,604
Result 2025
€44,938
raises the resultlowers the result
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.
From operations
+€87,155
Investment
-€16,928
Financing
-€66,185
Cash 2024
€19,724
From operations (derived)
+€87,155
Net result for the year
+€44,938
Depreciation
+€49,032
Stocks and contracts
+€465
Receivables within one year
+€1,489
Provisions
-€3,790
Trade debts
-€3,574
Tax, wage and social debts
+€5,167
Advances received
+€271
Other debts
-€6,842
Investment (derived)
-€16,928
Investment in fixed assets (net)
-€16,928
Financing
-€66,185
Debts after one year
-€71,501
Current portion of long-term debt
+€5,315
Cash 2025
€23,766
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,019,031 | €989,016 | -€30,015 | -2.9% |
| Fixed assets | 21/28 | €995,571 | €963,467 | -€32,104 | -3.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €995,571 | €963,467 | -€32,104 | -3.2% |
| Land and buildings | 22 | €959,681 | €924,416 | -€35,266 | -3.7% |
| Plant, machinery and equipment | 23 | €31,151 | €33,789 | +€2,638 | +8.5% |
| Furniture and vehicles | 24 | €3,602 | €5,262 | +€1,660 | +46.1% |
| Assets under construction and advance payments | 27 | €1,137 | - | -€1,137 | |
| Current assets | 29/58 | €23,460 | €25,549 | +€2,089 | +8.9% |
| Stocks and contracts in progress | 3 | €465 | - | -€465 | |
| Stocks | 30/36 | €465 | - | -€465 | |
| Amounts receivable within one year | 40/41 | €3,272 | €1,783 | -€1,489 | -45.5% |
| Trade receivables | 40 | €420 | €1,783 | +€1,363 | +325% |
| Other amounts receivable | 41 | €2,852 | - | -€2,852 | |
| Cash at bank and in hand | 54/58 | €19,724 | €23,766 | +€4,042 | +20.5% |
| Total equity and liabilities | 10/49 | €1,019,031 | €989,016 | -€30,015 | -2.9% |
| Equity | 10/15 | €489,256 | €534,194 | +€44,938 | +9.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | - | -€61,973 | |
| Issued capital | 100 | €61,973 | - | -€61,973 | |
| Reserves | 13 | €204,408 | €249,346 | +€44,938 | +22.0% |
| Tax-exempt reserves | 132 | €191,944 | €180,574 | -€11,370 | -5.9% |
| Distributable reserves | 133 | €12,464 | €68,772 | +€56,308 | +452% |
| Profit (loss) carried forward | 14 | €222,875 | €222,875 | = | 0.0% |
| Provisions and deferred taxes | 16 | €86,983 | €83,193 | -€3,790 | -4.4% |
| Deferred taxes | 168 | €86,983 | €83,193 | -€3,790 | -4.4% |
| Amounts payable | 17/49 | €442,792 | €371,628 | -€71,164 | -16.1% |
| Amounts payable after more than one year | 17 | €183,053 | €111,552 | -€71,501 | -39.1% |
| Financial debts | 170/4 | €183,053 | €111,552 | -€71,501 | -39.1% |
| Amounts payable within one year | 42/48 | €259,739 | €260,076 | +€337 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €71,996 | €77,311 | +€5,315 | +7.4% |
| Trade debts | 44 | €19,010 | €15,436 | -€3,574 | -18.8% |
| Suppliers | 440/4 | €19,010 | €15,436 | -€3,574 | -18.8% |
| Advances received on contracts in progress | 46 | €38,877 | €39,148 | +€271 | +0.7% |
| Taxes, remuneration and social security | 45 | €70,390 | €75,556 | +€5,167 | +7.3% |
| Taxes | 450/3 | €60,435 | €71,071 | +€10,636 | +17.6% |
| Remuneration and social security | 454/9 | €9,955 | €4,486 | -€5,469 | -54.9% |
| Other amounts payable | 47/48 | €59,467 | €52,625 | -€6,842 | -11.5% |
| Non-recurring operating income | 76A | - | €20,041 | +€20,041 | |
| Remuneration, social security and pensions | 62 | €58,303 | €51,227 | -€7,076 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,776 | €49,032 | +€256 | +0.5% |
| Other operating charges | 640/8 | €7,871 | €7,841 | -€29 | -0.4% |
| Gross operating margin | 9900 | €248,134 | €184,557 | -€63,577 | -25.6% |
| Operating profit (loss) | 9901 | €133,184 | €76,456 | -€56,728 | -42.6% |
| Financial income | 75/76B | €42 | €44 | +€2 | +5.2% |
| Recurring financial income | 75 | €42 | €44 | +€2 | +5.2% |
| Financial charges | 65/66B | €11,895 | €9,028 | -€2,867 | -24.1% |
| Recurring financial charges | 65 | €11,895 | €9,028 | -€2,867 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €121,332 | €67,473 | -€53,859 | -44.4% |
| Transfer from deferred taxes | 780 | €3,790 | €3,790 | = | 0.0% |
| Income taxes | 67/77 | €49,928 | €26,324 | -€23,604 | -47.3% |
| Profit (loss) for the period | 9904 | €75,194 | €44,938 | -€30,255 | -40.2% |
| Transfer from tax-exempt reserves | 789 | €11,370 | €11,370 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,564 | €56,308 | -€30,255 | -35.0% |
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.