KARIWAR: 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.
KARIWAR
Largest movements
- Receivables within one year +€36,800
up €36,800 (+82.6%), from €44,576 to €81,375
of which Trade receivables: +€22,991
- Cash +€18,413
up €18,413 (+242.4%), from €7,597 to €26,010
mainly Net result for the year (+€25,806) and Trade debts (+€17,093)
- Tangible fixed assets -€4,230
down €4,230 (-60.0%), from €7,048 to €2,818
of which Furniture and vehicles: -€4,012
- Deferred charges and accrued income +€1,821
up €1,821, from €0 to €1,821
- Profit (loss) carried forward +€25,806
up €25,806 (+99.6%), from €25,918 to €51,724
- Trade debts +€17,093
up €17,093 (+213.6%), from €8,002 to €25,094
- Tax, wage and social debts +€14,239
up €14,239 (+113.9%), from €12,504 to €26,743
of which Taxes: +€10,750
- Other debts -€4,678
down €4,678 (-100.0%), from €4,678 to €0
- Turnover +€103,846
up €103,846 (+137.6%), from €75,468 to €179,314
- Gross operating margin +€76,480
up €76,480 (+139.3%), from €54,901 to €131,381
- Staff costs +€72,361
up €72,361 (+518.5%), from €13,955 to €86,316
- Purchases and services +€22,591
up €22,591 (+64.2%), from €35,185 to €57,776
- Taxes +€9,416
up €9,416 (+527.3%), from €1,786 to €11,201
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 | €59,221 | €112,024 | +€52,803 | +89.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,048 | €2,818 | -€4,230 | -60.0% |
| Tangible fixed assets | 22/27 | €7,048 | €2,818 | -€4,230 | -60.0% |
| Plant, machinery and equipment | 23 | €372 | €154 | -€218 | -58.5% |
| Furniture and vehicles | 24 | €6,676 | €2,664 | -€4,012 | -60.1% |
| Current assets | 29/58 | €52,173 | €109,206 | +€57,034 | +109.3% |
| Amounts receivable within one year | 40/41 | €44,576 | €81,375 | +€36,800 | +82.6% |
| Trade receivables | 40 | €25,069 | €48,060 | +€22,991 | +91.7% |
| Other amounts receivable | 41 | €19,506 | €33,315 | +€13,809 | +70.8% |
| Cash at bank and in hand | 54/58 | €7,597 | €26,010 | +€18,413 | +242.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,821 | +€1,821 | |
| Total equity and liabilities | 10/49 | €59,221 | €112,024 | +€52,803 | +89.2% |
| Equity | 10/15 | €33,978 | €59,784 | +€25,806 | +75.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,918 | €51,724 | +€25,806 | +99.6% |
| Amounts payable | 17/49 | €25,243 | €52,240 | +€26,997 | +106.9% |
| Amounts payable within one year | 42/48 | €25,183 | €51,837 | +€26,654 | +105.8% |
| Trade debts | 44 | €8,002 | €25,094 | +€17,093 | +213.6% |
| Suppliers | 440/4 | €8,002 | €25,094 | +€17,093 | +213.6% |
| Taxes, remuneration and social security | 45 | €12,504 | €26,743 | +€14,239 | +113.9% |
| Taxes | 450/3 | €8,084 | €18,834 | +€10,750 | +133.0% |
| Remuneration and social security | 454/9 | €4,419 | €7,909 | +€3,489 | +79.0% |
| Other amounts payable | 47/48 | €4,678 | €0 | -€4,678 | -100.0% |
| Accrued charges and deferred income | 492/3 | €60 | €403 | +€343 | +575.9% |
| Turnover | 70 | €75,468 | €179,314 | +€103,846 | +137.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €35,185 | €57,776 | +€22,591 | +64.2% |
| Remuneration, social security and pensions | 62 | €13,955 | €86,316 | +€72,361 | +518.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,615 | €5,371 | -€244 | -4.3% |
| Other operating charges | 640/8 | €2,305 | €559 | -€1,746 | -75.8% |
| Non-recurring operating charges | 66A | €209 | - | -€209 | |
| Gross operating margin | 9900 | €54,901 | €131,381 | +€76,480 | +139.3% |
| Operating profit (loss) | 9901 | €32,817 | €39,135 | +€6,317 | +19.3% |
| Financial income | 75/76B | €54 | €57 | +€3 | +5.3% |
| Recurring financial income | 75 | €54 | €57 | +€3 | +5.3% |
| Financial charges | 65/66B | €720 | €2,185 | +€1,465 | +203.4% |
| Recurring financial charges | 65 | €720 | €2,185 | +€1,465 | +203.4% |
| Profit (loss) for the period before taxes | 9903 | €32,151 | €37,007 | +€4,856 | +15.1% |
| Income taxes | 67/77 | €1,786 | €11,201 | +€9,416 | +527.3% |
| Profit (loss) for the period | 9904 | €30,366 | €25,806 | -€4,560 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,366 | €25,806 | -€4,560 | -15.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.