KARINA: 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.
KARINA
Largest movements
- Stocks and contracts +€14,601
up €14,601 (+43.1%), from €33,910 to €48,511
- Cash -€8,928
down €8,928 (-97.5%), from €9,159 to €231
mainly Stocks and contracts (-€14,601) and Net result for the year (-€13,503)
- Other debts +€18,826
up €18,826 (+103%), from €18,298 to €37,124
- Profit (loss) carried forward -€13,503
down €13,503 (-190%), from -€7,102 to -€20,605
- Tax, wage and social debts +€2,707
up €2,707 (+109%), from €2,494 to €5,201
of which Taxes: +€2,269
- Trade debts -€2,521
down €2,521 (-50.1%), from €5,029 to €2,508
- Turnover +€59,009
up €59,009 (+14.3%), from €412,473 to €471,482
- Purchases and services +€46,297
up €46,297 (+10.9%), from €425,664 to €471,962
- Financial charges +€9,400
up €9,400 (+1,141%), from €824 to €10,223
of which Non-recurring financial charges: +€9,552
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 | €43,506 | €49,014 | +€5,509 | +12.7% |
| Fixed assets | 21/28 | €271 | €271 | = | 0.0% |
| Financial fixed assets | 28 | €271 | €271 | = | 0.0% |
| Current assets | 29/58 | €43,234 | €48,743 | +€5,509 | +12.7% |
| Stocks and contracts in progress | 3 | €33,910 | €48,511 | +€14,601 | +43.1% |
| Stocks | 30/36 | €33,910 | €48,511 | +€14,601 | +43.1% |
| Amounts receivable within one year | 40/41 | €165 | - | -€165 | |
| Trade receivables | 40 | €165 | - | -€165 | |
| Cash at bank and in hand | 54/58 | €9,159 | €231 | -€8,928 | -97.5% |
| Total equity and liabilities | 10/49 | €43,506 | €49,014 | +€5,509 | +12.7% |
| Equity | 10/15 | €17,685 | €4,182 | -€13,503 | -76.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,195 | €6,195 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €4,335 | €4,335 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,102 | -€20,605 | -€13,503 | -190% |
| Amounts payable | 17/49 | €25,821 | €44,833 | +€19,012 | +73.6% |
| Amounts payable within one year | 42/48 | €25,821 | €44,833 | +€19,012 | +73.6% |
| Trade debts | 44 | €5,029 | €2,508 | -€2,521 | -50.1% |
| Suppliers | 440/4 | €5,029 | €2,508 | -€2,521 | -50.1% |
| Taxes, remuneration and social security | 45 | €2,494 | €5,201 | +€2,707 | +109% |
| Taxes | 450/3 | €2,494 | €4,764 | +€2,269 | +91.0% |
| Remuneration and social security | 454/9 | - | €437 | +€437 | |
| Other amounts payable | 47/48 | €18,298 | €37,124 | +€18,826 | +103% |
| Turnover | 70 | €412,473 | €471,482 | +€59,009 | +14.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €425,664 | €471,962 | +€46,297 | +10.9% |
| Remuneration, social security and pensions | 62 | €2,473 | - | -€2,473 | |
| Other operating charges | 640/8 | €975 | €2,800 | +€1,825 | +187% |
| Gross operating margin | 9900 | -€5,140 | -€480 | +€4,660 | +90.7% |
| Operating profit (loss) | 9901 | -€8,588 | -€3,280 | +€5,308 | +61.8% |
| Financial income | 75/76B | €83 | €0 | -€83 | -99.9% |
| Recurring financial income | 75 | €83 | €0 | -€83 | -99.9% |
| Financial charges | 65/66B | €824 | €10,223 | +€9,400 | +1,141% |
| Recurring financial charges | 65 | €356 | €204 | -€152 | -42.8% |
| Non-recurring financial charges | 66B | €468 | €10,020 | +€9,552 | +2,041% |
| Profit (loss) for the period before taxes | 9903 | -€9,329 | -€13,503 | -€4,174 | -44.7% |
| Income taxes | 67/77 | €261 | - | -€261 | |
| Profit (loss) for the period | 9904 | -€9,590 | -€13,503 | -€3,913 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,590 | -€13,503 | -€3,913 | -40.8% |
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 15 October 2026 via checked.be.