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
- Cash -€54,233
down €54,233 (-87.6%), from €61,924 to €7,692
mainly Receivables within one year (-€29,864) and Investment in fixed assets (net) (-€17,504)
- Receivables within one year +€29,864
up €29,864 (+262.5%), from €11,378 to €41,242
- Tangible fixed assets +€17,312
up €17,312 (+3950.3%), from €438 to €17,751
of which Land and buildings: +€17,504
- Intangible fixed assets -€3,000
down €3,000 (-50.0%), from €6,000 to €3,000
- Stocks and contracts -€1,205
down €1,205 (-4.6%), from €26,205 to €25,000
- Trade debts -€16,846
down €16,846 (-93.7%), from €17,977 to €1,131
- Reserves +€3,395
new in 2025: €3,395
- Tax, wage and social debts +€2,190
up €2,190 (+23.5%), from €9,335 to €11,525
- Gross operating margin -€24,901
down €24,901 (-69.4%), from €35,887 to €10,985
- Taxes -€4,746
down €4,746 (-70.8%), from €6,707 to €1,960
- Financial income +€587
up €587 (+81.0%), from €724 to €1,311
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 | €105,946 | €94,684 | -€11,262 | -10.6% |
| Fixed assets | 21/28 | €6,438 | €20,751 | +€14,312 | +222.3% |
| Intangible fixed assets | 21 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Tangible fixed assets | 22/27 | €438 | €17,751 | +€17,312 | +3950.3% |
| Land and buildings | 22 | - | €17,504 | +€17,504 | |
| Plant, machinery and equipment | 23 | €438 | €247 | -€191 | -43.6% |
| Current assets | 29/58 | €99,507 | €73,933 | -€25,574 | -25.7% |
| Stocks and contracts in progress | 3 | €26,205 | €25,000 | -€1,205 | -4.6% |
| Stocks | 30/36 | €26,205 | €25,000 | -€1,205 | -4.6% |
| Amounts receivable within one year | 40/41 | €11,378 | €41,242 | +€29,864 | +262.5% |
| Other amounts receivable | 41 | €11,378 | €41,242 | +€29,864 | +262.5% |
| Cash at bank and in hand | 54/58 | €61,924 | €7,692 | -€54,233 | -87.6% |
| Total equity and liabilities | 10/49 | €105,946 | €94,684 | -€11,262 | -10.6% |
| Equity | 10/15 | €78,633 | €82,028 | +€3,395 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €3,395 | +€3,395 | |
| Distributable reserves | 133 | - | €3,395 | +€3,395 | |
| Profit (loss) carried forward | 14 | €72,433 | €72,433 | = | 0.0% |
| Amounts payable | 17/49 | €27,313 | €12,656 | -€14,657 | -53.7% |
| Amounts payable within one year | 42/48 | €27,313 | €12,656 | -€14,657 | -53.7% |
| Financial debts | 43 | €1 | - | -€1 | |
| Credit institutions | 430/8 | €1 | - | -€1 | |
| Trade debts | 44 | €17,977 | €1,131 | -€16,846 | -93.7% |
| Suppliers | 440/4 | €17,977 | €1,131 | -€16,846 | -93.7% |
| Taxes, remuneration and social security | 45 | €9,335 | €11,525 | +€2,190 | +23.5% |
| Taxes | 450/3 | €9,335 | €11,525 | +€2,190 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,135 | €3,191 | +€56 | +1.8% |
| Other operating charges | 640/8 | €3,425 | €3,552 | +€127 | +3.7% |
| Gross operating margin | 9900 | €35,887 | €10,985 | -€24,901 | -69.4% |
| Operating profit (loss) | 9901 | €29,327 | €4,243 | -€25,084 | -85.5% |
| Financial income | 75/76B | €724 | €1,311 | +€587 | +81.0% |
| Recurring financial income | 75 | €724 | €1,311 | +€587 | +81.0% |
| Financial charges | 65/66B | €88 | €197 | +€110 | +124.8% |
| Recurring financial charges | 65 | €88 | €197 | +€110 | +124.8% |
| Profit (loss) for the period before taxes | 9903 | €29,963 | €5,356 | -€24,607 | -82.1% |
| Income taxes | 67/77 | €6,707 | €1,960 | -€4,746 | -70.8% |
| Profit (loss) for the period | 9904 | €23,256 | €3,395 | -€19,861 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,256 | €3,395 | -€19,861 | -85.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.