KARIN: 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.
KARIN
Largest movements
- Receivables within one year -€38,089
down €38,089 (-71.7%), from €53,099 to €15,010
of which Other amounts receivable: -€37,829
- Cash -€17,496
down €17,496 (-20.7%), from €84,524 to €67,028
mainly Contributions, distributions and other (-€32,844) and Current investments (-€15,000)
- Current investments +€15,000
up €15,000 (+16.7%), from €89,604 to €104,604
- Tangible fixed assets +€11,562
up €11,562 (+233.2%), from €4,958 to €16,520
of which Furniture and vehicles: +€12,217
- Reserves -€15,651
down €15,651 (-7.8%), from €200,441 to €184,790
of which Distributable reserves: -€15,651
- Other debts -€10,616
no longer reported in 2025 (was €10,616)
- Trade debts -€2,742
down €2,742 (-65.3%), from €4,201 to €1,459
- Depreciation +€1,550
up €1,550 (+181.3%), from €855 to €2,405
- Financial income +€804
up €804 (+47.8%), from €1,681 to €2,484
- Financial charges -€529
down €529 (-38.4%), from €1,379 to €850
- Other operating charges +€434
up €434 (+50.1%), from €866 to €1,300
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 | €236,157 | €205,611 | -€30,545 | -12.9% |
| Fixed assets | 21/28 | €4,958 | €16,520 | +€11,562 | +233.2% |
| Tangible fixed assets | 22/27 | €4,958 | €16,520 | +€11,562 | +233.2% |
| Plant, machinery and equipment | 23 | €4,214 | €3,559 | -€655 | -15.5% |
| Furniture and vehicles | 24 | €744 | €12,961 | +€12,217 | +1641.8% |
| Current assets | 29/58 | €231,199 | €189,092 | -€42,108 | -18.2% |
| Amounts receivable within one year | 40/41 | €53,099 | €15,010 | -€38,089 | -71.7% |
| Trade receivables | 40 | €10,344 | €10,083 | -€260 | -2.5% |
| Other amounts receivable | 41 | €42,756 | €4,927 | -€37,829 | -88.5% |
| Current investments | 50/53 | €89,604 | €104,604 | +€15,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €84,524 | €67,028 | -€17,496 | -20.7% |
| Deferred charges and accrued income | 490/1 | €3,972 | €2,450 | -€1,522 | -38.3% |
| Total equity and liabilities | 10/49 | €236,157 | €205,611 | -€30,545 | -12.9% |
| Equity | 10/15 | €213,041 | €197,390 | -€15,651 | -7.3% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €200,441 | €184,790 | -€15,651 | -7.8% |
| Non-distributable reserves | 130/1 | €5,460 | €5,460 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,460 | €5,460 | = | 0.0% |
| Distributable reserves | 133 | €194,981 | €179,330 | -€15,651 | -8.0% |
| Amounts payable | 17/49 | €23,116 | €8,221 | -€14,895 | -64.4% |
| Amounts payable within one year | 42/48 | €23,116 | €8,221 | -€14,895 | -64.4% |
| Current portion of amounts payable after more than one year | 42 | €4,115 | €4,090 | -€25 | -0.6% |
| Trade debts | 44 | €4,201 | €1,459 | -€2,742 | -65.3% |
| Suppliers | 440/4 | €4,201 | €1,459 | -€2,742 | -65.3% |
| Taxes, remuneration and social security | 45 | €4,184 | €2,672 | -€1,512 | -36.1% |
| Taxes | 450/3 | €4,184 | €2,672 | -€1,512 | -36.1% |
| Other amounts payable | 47/48 | €10,616 | - | -€10,616 | |
| Non-recurring operating income | 76A | €1,201 | - | -€1,201 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €855 | €2,405 | +€1,550 | +181.3% |
| Other operating charges | 640/8 | €866 | €1,300 | +€434 | +50.1% |
| Gross operating margin | 9900 | €29,492 | €29,477 | -€15 | -0.1% |
| Operating profit (loss) | 9901 | €27,771 | €25,772 | -€1,999 | -7.2% |
| Financial income | 75/76B | €1,681 | €2,484 | +€804 | +47.8% |
| Recurring financial income | 75 | €1,681 | €2,484 | +€804 | +47.8% |
| Financial charges | 65/66B | €1,379 | €850 | -€529 | -38.4% |
| Recurring financial charges | 65 | €1,379 | €850 | -€529 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €28,073 | €27,406 | -€667 | -2.4% |
| Income taxes | 67/77 | €10,150 | €10,214 | +€64 | +0.6% |
| Profit (loss) for the period | 9904 | €17,923 | €17,193 | -€730 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,923 | €17,193 | -€730 | -4.1% |
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 9 October 2026 via checked.be.