KAREN PLESSERS: 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.
KAREN PLESSERS
Largest movements
- Current investments +€326,218
up €326,218 (+69.2%), from €471,702 to €797,921
- Cash -€190,742
down €190,742 (-26.3%), from €724,233 to €533,491
mainly Current investments (-€326,218) and Receivables within one year (-€28,635)
- Receivables within one year +€28,635
up €28,635 (+1,013%), from €2,828 to €31,463
of which Trade receivables: +€29,660
- Reserves +€144,737
up €144,737 (+12.1%), from €1.2m to €1.3m
of which Distributable reserves: +€144,737
- Tax, wage and social debts +€15,208
up €15,208 (+90,522%), from €17 to €15,224
- Gross operating margin +€73,097
up €73,097 (+56.1%), from €130,376 to €203,473
- Financial income -€27,150
down €27,150 (-56.5%), from €48,066 to €20,916
- Taxes +€14,950
up €14,950 (+32.3%), from €46,322 to €61,272
- Financial charges +€8,882
up €8,882 (+265%), from €3,352 to €12,234
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 | €1,215,265 | €1,374,315 | +€159,050 | +13.1% |
| Fixed assets | 21/28 | €14,293 | €9,528 | -€4,764 | -33.3% |
| Tangible fixed assets | 22/27 | €14,293 | €9,528 | -€4,764 | -33.3% |
| Other tangible fixed assets | 26 | €14,293 | €9,528 | -€4,764 | -33.3% |
| Current assets | 29/58 | €1,200,973 | €1,364,787 | +€163,814 | +13.6% |
| Amounts receivable within one year | 40/41 | €2,828 | €31,463 | +€28,635 | +1,013% |
| Trade receivables | 40 | €0 | €29,660 | +€29,660 | |
| Other amounts receivable | 41 | €2,828 | €1,803 | -€1,025 | -36.2% |
| Current investments | 50/53 | €471,702 | €797,921 | +€326,218 | +69.2% |
| Cash at bank and in hand | 54/58 | €724,233 | €533,491 | -€190,742 | -26.3% |
| Deferred charges and accrued income | 490/1 | €2,209 | €1,912 | -€297 | -13.5% |
| Total equity and liabilities | 10/49 | €1,215,265 | €1,374,315 | +€159,050 | +13.1% |
| Equity | 10/15 | €1,212,322 | €1,357,058 | +€144,737 | +11.9% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €1,198,062 | €1,342,798 | +€144,737 | +12.1% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,179,312 | €1,324,048 | +€144,737 | +12.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,944 | €17,257 | +€14,313 | +486% |
| Amounts payable within one year | 42/48 | €2,713 | €17,078 | +€14,365 | +530% |
| Trade debts | 44 | €2,668 | €1,826 | -€842 | -31.6% |
| Suppliers | 440/4 | €2,668 | €1,826 | -€842 | -31.6% |
| Taxes, remuneration and social security | 45 | €17 | €15,224 | +€15,208 | +90,522% |
| Taxes | 450/3 | €17 | €15,224 | +€15,208 | +90,522% |
| Other amounts payable | 47/48 | €27 | €27 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €231 | €179 | -€52 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,764 | €4,764 | = | 0.0% |
| Other operating charges | 640/8 | €1,298 | €1,382 | +€84 | +6.5% |
| Gross operating margin | 9900 | €130,376 | €203,473 | +€73,097 | +56.1% |
| Operating profit (loss) | 9901 | €124,314 | €197,327 | +€73,013 | +58.7% |
| Financial income | 75/76B | €48,066 | €20,916 | -€27,150 | -56.5% |
| Recurring financial income | 75 | €48,066 | €20,916 | -€27,150 | -56.5% |
| Financial charges | 65/66B | €3,352 | €12,234 | +€8,882 | +265% |
| Recurring financial charges | 65 | €3,352 | €12,234 | +€8,882 | +265% |
| Profit (loss) for the period before taxes | 9903 | €169,028 | €206,009 | +€36,980 | +21.9% |
| Income taxes | 67/77 | €46,322 | €61,272 | +€14,950 | +32.3% |
| Profit (loss) for the period | 9904 | €122,706 | €144,737 | +€22,030 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €122,706 | €144,737 | +€22,030 | +18.0% |
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 28 October 2026 via checked.be.