KARL FABRY: 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.
KARL FABRY
Largest movements
- Receivables within one year +€10,245
up €10,245 (+35.7%), from €28,664 to €38,909
of which Other amounts receivable: +€11,010
- Tangible fixed assets -€4,657
down €4,657 (-10.7%), from €43,485 to €38,829
of which Plant, machinery and equipment: -€4,234
- Profit (loss) carried forward +€11,240
no longer reported in 2025 (was -€11,240)
- Debts after one year -€8,730
down €8,730 (-96.3%), from €9,069 to €338
- Short-term financial debts +€7,040
up €7,040 (+1,530%), from €460 to €7,500
- Current portion of long-term debt -€4,237
down €4,237 (-32.7%), from €12,967 to €8,730
- Reserves +€1,545
up €1,545 (+2.9%), from €52,861 to €54,405
of which Distributable reserves: +€1,545
- Gross operating margin -€4,661
down €4,661 (-13.2%), from €35,251 to €30,590
- Taxes -€1,362
down €1,362 (-18.4%), from €7,400 to €6,038
- Other operating charges +€1,163
up €1,163 (+116%), from €1,001 to €2,164
- Financial income +€509
up €509 (+35.1%), from €1,450 to €1,959
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 | €92,916 | €98,629 | +€5,712 | +6.1% |
| Fixed assets | 21/28 | €43,485 | €38,829 | -€4,657 | -10.7% |
| Tangible fixed assets | 22/27 | €43,485 | €38,829 | -€4,657 | -10.7% |
| Land and buildings | 22 | €3,216 | €2,328 | -€888 | -27.6% |
| Plant, machinery and equipment | 23 | €34,402 | €30,168 | -€4,234 | -12.3% |
| Furniture and vehicles | 24 | €467 | €932 | +€465 | +99.5% |
| Other tangible fixed assets | 26 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €49,431 | €59,800 | +€10,369 | +21.0% |
| Amounts receivable within one year | 40/41 | €28,664 | €38,909 | +€10,245 | +35.7% |
| Trade receivables | 40 | €1,043 | €277 | -€765 | -73.4% |
| Other amounts receivable | 41 | €27,622 | €38,632 | +€11,010 | +39.9% |
| Current investments | 50/53 | €3,365 | €3,365 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,949 | €14,829 | +€880 | +6.3% |
| Deferred charges and accrued income | 490/1 | €3,453 | €2,697 | -€756 | -21.9% |
| Total equity and liabilities | 10/49 | €92,916 | €98,629 | +€5,712 | +6.1% |
| Equity | 10/15 | €56,621 | €69,405 | +€12,785 | +22.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €52,861 | €54,405 | +€1,545 | +2.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €51,001 | €52,545 | +€1,545 | +3.0% |
| Profit (loss) carried forward | 14 | -€11,240 | - | +€11,240 | |
| Amounts payable | 17/49 | €36,296 | €29,223 | -€7,073 | -19.5% |
| Amounts payable after more than one year | 17 | €9,069 | €338 | -€8,730 | -96.3% |
| Financial debts | 170/4 | €9,069 | €338 | -€8,730 | -96.3% |
| Amounts payable within one year | 42/48 | €26,665 | €28,885 | +€2,220 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €12,967 | €8,730 | -€4,237 | -32.7% |
| Financial debts | 43 | €460 | €7,500 | +€7,040 | +1,530% |
| Credit institutions | 430/8 | €460 | €7,500 | +€7,040 | +1,530% |
| Trade debts | 44 | €4,109 | €4,748 | +€640 | +15.6% |
| Suppliers | 440/4 | €4,109 | €4,748 | +€640 | +15.6% |
| Taxes, remuneration and social security | 45 | €9,129 | €7,906 | -€1,223 | -13.4% |
| Taxes | 450/3 | €6,419 | €5,196 | -€1,223 | -19.0% |
| Remuneration and social security | 454/9 | €2,710 | €2,710 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €562 | - | -€562 | |
| Non-recurring operating income | 76A | €3,912 | - | -€3,912 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,997 | €5,734 | -€263 | -4.4% |
| Other operating charges | 640/8 | €1,001 | €2,164 | +€1,163 | +116% |
| Gross operating margin | 9900 | €35,251 | €30,590 | -€4,661 | -13.2% |
| Operating profit (loss) | 9901 | €28,253 | €22,692 | -€5,561 | -19.7% |
| Financial income | 75/76B | €1,450 | €1,959 | +€509 | +35.1% |
| Recurring financial income | 75 | €1,450 | €1,959 | +€509 | +35.1% |
| Financial charges | 65/66B | €5,741 | €5,828 | +€87 | +1.5% |
| Recurring financial charges | 65 | €5,741 | €5,828 | +€87 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €23,962 | €18,823 | -€5,140 | -21.4% |
| Income taxes | 67/77 | €7,400 | €6,038 | -€1,362 | -18.4% |
| Profit (loss) for the period | 9904 | €16,562 | €12,785 | -€3,777 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,562 | €12,785 | -€3,777 | -22.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.