Karen Sammon: 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 Sammon
Largest movements
- Cash -€3,521
no longer reported in 2025 (was €3,521)
mainly Other debts (-€7,013) and Net result for the year (-€4,140)
- Intangible fixed assets -€1,550
down €1,550 (-11.1%), from €13,950 to €12,400
- Tangible fixed assets -€1,108
down €1,108 (-26.6%), from €4,162 to €3,054
of which Plant, machinery and equipment: -€838
- Receivables within one year +€962
up €962 (+215%), from €447 to €1,410
of which Other amounts receivable: +€1,410
- Other debts -€7,013
no longer reported in 2025 (was €7,013)
- Trade debts +€5,089
up €5,089 (+197%), from €2,579 to €7,668
- Profit (loss) carried forward -€4,140
down €4,140, from €7 to -€4,133
- Short-term financial debts +€3,976
new in 2025: €3,976
- Tax, wage and social debts -€3,182
down €3,182 (-32.9%), from €9,667 to €6,485
of which Remuneration and social security: -€2,400
- Gross operating margin -€11,094
down €11,094 (-88.0%), from €12,604 to €1,510
- Taxes -€2,085
no longer reported in 2025 (was €2,085)
- Financial charges +€1,511
up €1,511 (+2,342%), from €65 to €1,576
- Depreciation +€455
up €455 (+14.2%), from €3,194 to €3,649
- Financial income -€337
down €337 (-94.9%), from €355 to €18
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 | €27,716 | €22,446 | -€5,271 | -19.0% |
| Fixed assets | 21/28 | €18,112 | €15,454 | -€2,658 | -14.7% |
| Intangible fixed assets | 21 | €13,950 | €12,400 | -€1,550 | -11.1% |
| Tangible fixed assets | 22/27 | €4,162 | €3,054 | -€1,108 | -26.6% |
| Plant, machinery and equipment | 23 | €1,675 | €838 | -€838 | -50.0% |
| Furniture and vehicles | 24 | €2,486 | €2,216 | -€270 | -10.9% |
| Current assets | 29/58 | €9,605 | €6,992 | -€2,613 | -27.2% |
| Stocks and contracts in progress | 3 | €5,636 | €5,583 | -€54 | -1.0% |
| Stocks | 30/36 | €5,636 | €5,583 | -€54 | -1.0% |
| Amounts receivable within one year | 40/41 | €447 | €1,410 | +€962 | +215% |
| Trade receivables | 40 | €447 | - | -€447 | |
| Other amounts receivable | 41 | - | €1,410 | +€1,410 | |
| Cash at bank and in hand | 54/58 | €3,521 | - | -€3,521 | |
| Total equity and liabilities | 10/49 | €27,716 | €22,446 | -€5,271 | -19.0% |
| Equity | 10/15 | €8,457 | €4,317 | -€4,140 | -48.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €6,950 | €6,950 | = | 0.0% |
| Distributable reserves | 133 | €6,950 | €6,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7 | -€4,133 | -€4,140 | |
| Amounts payable | 17/49 | €19,259 | €18,128 | -€1,131 | -5.9% |
| Amounts payable within one year | 42/48 | €19,259 | €18,128 | -€1,131 | -5.9% |
| Financial debts | 43 | - | €3,976 | +€3,976 | |
| Credit institutions | 430/8 | - | €3,976 | +€3,976 | |
| Trade debts | 44 | €2,579 | €7,668 | +€5,089 | +197% |
| Suppliers | 440/4 | €2,579 | €7,668 | +€5,089 | +197% |
| Taxes, remuneration and social security | 45 | €9,667 | €6,485 | -€3,182 | -32.9% |
| Taxes | 450/3 | €7,267 | €6,485 | -€782 | -10.8% |
| Remuneration and social security | 454/9 | €2,400 | - | -€2,400 | |
| Other amounts payable | 47/48 | €7,013 | - | -€7,013 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,194 | €3,649 | +€455 | +14.2% |
| Other operating charges | 640/8 | €658 | €443 | -€215 | -32.7% |
| Gross operating margin | 9900 | €12,604 | €1,510 | -€11,094 | -88.0% |
| Operating profit (loss) | 9901 | €8,752 | -€2,582 | -€11,334 | |
| Financial income | 75/76B | €355 | €18 | -€337 | -94.9% |
| Recurring financial income | 75 | €355 | €18 | -€337 | -94.9% |
| Financial charges | 65/66B | €65 | €1,576 | +€1,511 | +2,342% |
| Recurring financial charges | 65 | €65 | €1,576 | +€1,511 | +2,342% |
| Profit (loss) for the period before taxes | 9903 | €9,042 | -€4,140 | -€13,182 | |
| Income taxes | 67/77 | €2,085 | - | -€2,085 | |
| Profit (loss) for the period | 9904 | €6,957 | -€4,140 | -€11,097 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,957 | -€4,140 | -€11,097 |
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 22 October 2026 via checked.be.