Karel Fol Management: 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.
Karel Fol Management
Largest movements
- Cash +€35,351
up €35,351 (+181%), from €19,491 to €54,843
mainly Net result for the year (+€33,937) and Tax, wage and social debts (+€7,582)
- Receivables within one year +€5,057
up €5,057 (+76.7%), from €6,594 to €11,651
of which Other amounts receivable: +€3,407
- Deferred charges and accrued income +€1,727
up €1,727 (+338%), from €511 to €2,238
- Tangible fixed assets +€1,044
new in 2025: €1,044
- Reserves +€33,937
up €33,937 (+328%), from €10,335 to €44,271
- Tax, wage and social debts +€7,582
up €7,582 (+269%), from €2,820 to €10,402
- Other debts +€1,359
up €1,359 (+24.6%), from €5,530 to €6,890
- Accrued charges and deferred income -€896
down €896 (-100%), from €896 to €0
- Trade debts +€825
up €825 (+53.7%), from €1,536 to €2,361
- Gross operating margin +€32,075
up €32,075 (+241%), from €13,321 to €45,396
- Taxes +€7,582
up €7,582 (+269%), from €2,820 to €10,402
- Financial charges +€512
up €512 (+11,954%), from €4 to €516
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 | €26,596 | €69,776 | +€43,180 | +162% |
| Fixed assets | 21/28 | - | €1,044 | +€1,044 | |
| Tangible fixed assets | 22/27 | - | €1,044 | +€1,044 | |
| Furniture and vehicles | 24 | - | €1,044 | +€1,044 | |
| Current assets | 29/58 | €26,596 | €68,731 | +€42,136 | +158% |
| Amounts receivable within one year | 40/41 | €6,594 | €11,651 | +€5,057 | +76.7% |
| Trade receivables | 40 | €6,000 | €7,650 | +€1,650 | +27.5% |
| Other amounts receivable | 41 | €594 | €4,001 | +€3,407 | +573% |
| Cash at bank and in hand | 54/58 | €19,491 | €54,843 | +€35,351 | +181% |
| Deferred charges and accrued income | 490/1 | €511 | €2,238 | +€1,727 | +338% |
| Total equity and liabilities | 10/49 | €26,596 | €69,776 | +€43,180 | +162% |
| Equity | 10/15 | €15,335 | €49,271 | +€33,937 | +221% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,335 | €44,271 | +€33,937 | +328% |
| Distributable reserves | 133 | €10,335 | €44,271 | +€33,937 | +328% |
| Amounts payable | 17/49 | €11,261 | €20,504 | +€9,243 | +82.1% |
| Amounts payable within one year | 42/48 | €10,365 | €20,504 | +€10,139 | +97.8% |
| Financial debts | 43 | €480 | €852 | +€372 | +77.5% |
| Credit institutions | 430/8 | €480 | €852 | +€372 | +77.5% |
| Trade debts | 44 | €1,536 | €2,361 | +€825 | +53.7% |
| Suppliers | 440/4 | €1,536 | €2,361 | +€825 | +53.7% |
| Taxes, remuneration and social security | 45 | €2,820 | €10,402 | +€7,582 | +269% |
| Taxes | 450/3 | €2,820 | €10,402 | +€7,582 | +269% |
| Other amounts payable | 47/48 | €5,530 | €6,890 | +€1,359 | +24.6% |
| Accrued charges and deferred income | 492/3 | €896 | €0 | -€896 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €212 | +€212 | |
| Other operating charges | 640/8 | €172 | €329 | +€157 | +91.2% |
| Gross operating margin | 9900 | €13,321 | €45,396 | +€32,075 | +241% |
| Operating profit (loss) | 9901 | €13,149 | €44,855 | +€31,706 | +241% |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €4 | €516 | +€512 | +11,954% |
| Recurring financial charges | 65 | €4 | €516 | +€512 | +11,954% |
| Profit (loss) for the period before taxes | 9903 | €13,154 | €44,339 | +€31,184 | +237% |
| Income taxes | 67/77 | €2,820 | €10,402 | +€7,582 | +269% |
| Profit (loss) for the period | 9904 | €10,335 | €33,937 | +€23,602 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €10,335 | €33,937 | +€23,602 | +228% |
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 19 October 2026 via checked.be.