KARIAT: what changed
Two fiscal 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.
KARIAT
Largest movements
- Receivables within one year +€89,468
up €89,468 (+107.4%), from €83,306 to €172,774
of which Trade receivables: +€72,735
- Cash +€3,885
up €3,885 (+2553.0%), from €152 to €4,037
- Tangible fixed assets +€2,105
up €2,105 (+259.0%), from €813 to €2,917
- Trade debts +€104,884
up €104,884 (+1550.1%), from €6,766 to €111,650
- Advances received -€44,738
down €44,738 (-67.5%), from €66,255 to €21,517
- Profit (loss) carried forward +€35,311
up €35,311 (+381.7%), from €9,250 to €44,561
- Gross operating margin -€8,436
down €8,436 (-72.1%), from €11,703 to €3,267
- Taxes +€3,235
new in 2025: €3,235
- Other operating charges -€1,056
no longer reported in 2025 (was €1,056)
- Depreciation -€605
down €605 (-87.9%), from €688 to €83
- Staff costs -€604
no longer reported in 2025 (was €604)
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,271 | €179,728 | +€95,457 | +113.3% |
| Fixed assets | 21/28 | €813 | €2,917 | +€2,105 | +259.0% |
| Tangible fixed assets | 22/27 | €813 | €2,917 | +€2,105 | +259.0% |
| Furniture and vehicles | 24 | €813 | €2,917 | +€2,105 | +259.0% |
| Current assets | 29/58 | €83,458 | €176,811 | +€93,353 | +111.9% |
| Amounts receivable within one year | 40/41 | €83,306 | €172,774 | +€89,468 | +107.4% |
| Trade receivables | 40 | €79,712 | €152,447 | +€72,735 | +91.2% |
| Other amounts receivable | 41 | €3,594 | €20,327 | +€16,733 | +465.5% |
| Cash at bank and in hand | 54/58 | €152 | €4,037 | +€3,885 | +2553.0% |
| Total equity and liabilities | 10/49 | €84,271 | €179,728 | +€95,457 | +113.3% |
| Equity | 10/15 | €11,250 | €46,561 | +€35,311 | +313.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,250 | €44,561 | +€35,311 | +381.7% |
| Amounts payable | 17/49 | €73,021 | €133,167 | +€60,146 | +82.4% |
| Amounts payable within one year | 42/48 | €73,021 | €133,167 | +€60,146 | +82.4% |
| Trade debts | 44 | €6,766 | €111,650 | +€104,884 | +1550.1% |
| Suppliers | 440/4 | €6,766 | €111,650 | +€104,884 | +1550.1% |
| Advances received on contracts in progress | 46 | €66,255 | €21,517 | -€44,738 | -67.5% |
| Remuneration, social security and pensions | 62 | €604 | - | -€604 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €688 | €83 | -€605 | -87.9% |
| Other operating charges | 640/8 | €1,056 | - | -€1,056 | |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €11,703 | €3,267 | -€8,436 | -72.1% |
| Operating profit (loss) | 9901 | €9,356 | €3,121 | -€6,235 | -66.6% |
| Financial charges | 65/66B | €106 | €61 | -€45 | -42.5% |
| Recurring financial charges | 65 | €106 | €61 | -€45 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €9,250 | €3,060 | -€6,190 | -66.9% |
| Income taxes | 67/77 | - | €3,235 | +€3,235 | |
| Profit (loss) for the period | 9904 | €9,250 | -€175 | -€9,425 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,250 | -€175 | -€9,425 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.