KARAWA-IMMO: 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.
KARAWA-IMMO
Largest movements
- Tangible fixed assets -€24,252
down €24,252 (-6.7%), from €361,754 to €337,502
of which Land and buildings: -€19,658
- Cash +€9,656
up €9,656 (+6.6%), from €145,278 to €154,934
mainly Depreciation (+€24,427) and Net result for the year (+€13,240)
- Debts after one year -€31,222
down €31,222 (-10.5%), from €298,072 to €266,851
- Reserves +€10,000
up €10,000 (+25.2%), from €39,747 to €49,747
of which Distributable reserves: +€10,000
- Tax, wage and social debts -€9,133
down €9,133 (-58.5%), from €15,616 to €6,483
of which Taxes: -€5,622
- Other debts +€7,163
up €7,163 (+10.7%), from €67,169 to €74,331
- Gross operating margin -€15,171
down €15,171 (-15.7%), from €96,750 to €81,579
- Taxes -€9,655
down €9,655 (-64.9%), from €14,868 to €5,213
- Staff costs +€2,109
up €2,109 (+9.3%), from €22,597 to €24,706
- Depreciation -€1,587
down €1,587 (-6.1%), from €26,014 to €24,427
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 | €538,644 | €522,621 | -€16,023 | -3.0% |
| Fixed assets | 21/28 | €392,954 | €366,302 | -€26,652 | -6.8% |
| Intangible fixed assets | 21 | €31,200 | €28,800 | -€2,400 | -7.7% |
| Tangible fixed assets | 22/27 | €361,754 | €337,502 | -€24,252 | -6.7% |
| Land and buildings | 22 | €347,135 | €327,476 | -€19,658 | -5.7% |
| Plant, machinery and equipment | 23 | €12,395 | €10,026 | -€2,369 | -19.1% |
| Furniture and vehicles | 24 | €2,225 | - | -€2,225 | |
| Current assets | 29/58 | €145,690 | €156,319 | +€10,629 | +7.3% |
| Amounts receivable within one year | 40/41 | €146 | - | -€146 | |
| Other amounts receivable | 41 | €146 | - | -€146 | |
| Cash at bank and in hand | 54/58 | €145,278 | €154,934 | +€9,656 | +6.6% |
| Deferred charges and accrued income | 490/1 | €267 | €1,385 | +€1,119 | +420% |
| Total equity and liabilities | 10/49 | €538,644 | €522,621 | -€16,023 | -3.0% |
| Equity | 10/15 | €127,949 | €141,189 | +€13,240 | +10.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €39,747 | €49,747 | +€10,000 | +25.2% |
| Tax-exempt reserves | 132 | €12,887 | €12,887 | = | 0.0% |
| Distributable reserves | 133 | €26,860 | €36,860 | +€10,000 | +37.2% |
| Profit (loss) carried forward | 14 | €75,802 | €79,042 | +€3,240 | +4.3% |
| Amounts payable | 17/49 | €410,695 | €381,433 | -€29,263 | -7.1% |
| Amounts payable after more than one year | 17 | €298,072 | €266,851 | -€31,222 | -10.5% |
| Financial debts | 170/4 | €298,072 | €266,851 | -€31,222 | -10.5% |
| Amounts payable within one year | 42/48 | €112,623 | €114,582 | +€1,959 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €29,838 | €30,554 | +€716 | +2.4% |
| Trade debts | 44 | - | €3,213 | +€3,213 | |
| Suppliers | 440/4 | - | €3,213 | +€3,213 | |
| Taxes, remuneration and social security | 45 | €15,616 | €6,483 | -€9,133 | -58.5% |
| Taxes | 450/3 | €10,171 | €4,550 | -€5,622 | -55.3% |
| Remuneration and social security | 454/9 | €5,445 | €1,934 | -€3,511 | -64.5% |
| Other amounts payable | 47/48 | €67,169 | €74,331 | +€7,163 | +10.7% |
| Non-recurring operating income | 76A | - | €19,792 | +€19,792 | |
| Remuneration, social security and pensions | 62 | €22,597 | €24,706 | +€2,109 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,014 | €24,427 | -€1,587 | -6.1% |
| Other operating charges | 640/8 | €4,641 | €5,488 | +€847 | +18.2% |
| Gross operating margin | 9900 | €96,750 | €81,579 | -€15,171 | -15.7% |
| Operating profit (loss) | 9901 | €43,497 | €26,958 | -€16,540 | -38.0% |
| Financial charges | 65/66B | €7,852 | €8,505 | +€654 | +8.3% |
| Recurring financial charges | 65 | €7,852 | €8,505 | +€654 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €35,646 | €18,452 | -€17,193 | -48.2% |
| Income taxes | 67/77 | €14,868 | €5,213 | -€9,655 | -64.9% |
| Profit (loss) for the period | 9904 | €20,778 | €13,240 | -€7,539 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,778 | €13,240 | -€7,539 | -36.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.