KARI: 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.
KARI
Largest movements
- Deferred charges and accrued income +€7,441
new in 2025: €7,441
- Receivables within one year +€7,089
up €7,089 (+26.2%), from €27,077 to €34,166
of which Trade receivables: +€8,571
- Tangible fixed assets +€4,991
up €4,991 (+6.4%), from €78,582 to €83,573
of which Furniture and vehicles: +€10,873
- Cash -€4,172
down €4,172 (-24.9%), from €16,748 to €12,576
mainly Investment in fixed assets (net) (-€27,526) and Debts after one year (-€7,933)
- Reserves +€10,449
up €10,449 (+11.9%), from €88,100 to €98,549
- Profit (loss) carried forward +€10,165
up €10,165, from -€10,165 to €0
- Debts after one year -€7,933
down €7,933 (-79.5%), from €9,974 to €2,041
- Other debts +€6,416
up €6,416 (+102.9%), from €6,236 to €12,652
- Trade debts -€4,279
down €4,279 (-64.0%), from €6,682 to €2,403
- Gross operating margin +€46,970
up €46,970 (+3053.0%), from €1,538 to €48,508
- Depreciation +€3,639
up €3,639 (+19.3%), from €18,895 to €22,534
- Taxes +€1,061
up €1,061 (+313.8%), from €338 to €1,399
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.
Cash bridge derived
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 | €122,407 | €137,757 | +€15,350 | +12.5% |
| Fixed assets | 21/28 | €78,582 | €83,573 | +€4,991 | +6.4% |
| Tangible fixed assets | 22/27 | €78,582 | €83,573 | +€4,991 | +6.4% |
| Land and buildings | 22 | €21,694 | €18,123 | -€3,571 | -16.5% |
| Plant, machinery and equipment | 23 | €25,563 | €23,251 | -€2,312 | -9.0% |
| Furniture and vehicles | 24 | €31,326 | €42,199 | +€10,873 | +34.7% |
| Current assets | 29/58 | €43,825 | €54,184 | +€10,359 | +23.6% |
| Amounts receivable within one year | 40/41 | €27,077 | €34,166 | +€7,089 | +26.2% |
| Trade receivables | 40 | €22,566 | €31,137 | +€8,571 | +38.0% |
| Other amounts receivable | 41 | €4,511 | €3,030 | -€1,481 | -32.8% |
| Cash at bank and in hand | 54/58 | €16,748 | €12,576 | -€4,172 | -24.9% |
| Deferred charges and accrued income | 490/1 | - | €7,441 | +€7,441 | |
| Total equity and liabilities | 10/49 | €122,407 | €137,757 | +€15,350 | +12.5% |
| Equity | 10/15 | €90,335 | €110,949 | +€20,614 | +22.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €88,100 | €98,549 | +€10,449 | +11.9% |
| Distributable reserves | 133 | €88,100 | €98,549 | +€10,449 | +11.9% |
| Profit (loss) carried forward | 14 | -€10,165 | €0 | +€10,165 | |
| Amounts payable | 17/49 | €32,072 | €26,808 | -€5,264 | -16.4% |
| Amounts payable after more than one year | 17 | €9,974 | €2,041 | -€7,933 | -79.5% |
| Financial debts | 170/4 | €9,974 | €2,041 | -€7,933 | -79.5% |
| Amounts payable within one year | 42/48 | €22,098 | €24,767 | +€2,669 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €8,241 | €7,933 | -€309 | -3.7% |
| Trade debts | 44 | €6,682 | €2,403 | -€4,279 | -64.0% |
| Suppliers | 440/4 | €6,682 | €2,403 | -€4,279 | -64.0% |
| Taxes, remuneration and social security | 45 | €939 | €1,780 | +€841 | +89.5% |
| Taxes | 450/3 | €939 | €1,780 | +€841 | +89.5% |
| Other amounts payable | 47/48 | €6,236 | €12,652 | +€6,416 | +102.9% |
| Non-recurring operating income | 76A | - | €5,800 | +€5,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,895 | €22,534 | +€3,639 | +19.3% |
| Other operating charges | 640/8 | €2,765 | €2,829 | +€64 | +2.3% |
| Gross operating margin | 9900 | €1,538 | €48,508 | +€46,970 | +3053.0% |
| Operating profit (loss) | 9901 | -€20,122 | €23,145 | +€43,267 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,554 | €1,132 | -€422 | -27.2% |
| Recurring financial charges | 65 | €1,554 | €1,132 | -€422 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | -€21,675 | €22,013 | +€43,689 | |
| Income taxes | 67/77 | €338 | €1,399 | +€1,061 | +313.8% |
| Profit (loss) for the period | 9904 | -€22,014 | €20,614 | +€42,627 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,014 | €20,614 | +€42,627 |
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 11 October 2026 via checked.be.