KARLIS: 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.
KARLIS
Largest movements
- Tangible fixed assets +€60,296
up €60,296 (+14.4%), from €419,203 to €479,499
of which Plant, machinery and equipment: +€62,543
- Cash +€22,171
up €22,171 (+26.6%), from €83,358 to €105,529
mainly Net result for the year (+€151,678) and Depreciation (+€46,005)
- Receivables within one year +€22,065
up €22,065 (+152.7%), from €14,447 to €36,512
of which Other amounts receivable: +€11,063
- Reserves +€151,678
up €151,678 (+172.1%), from €88,130 to €239,809
of which Tax-exempt reserves: +€119,888
- Other debts -€88,955
down €88,955 (-25.8%), from €344,951 to €255,996
- Provisions +€39,963
new in 2025: €39,963
- Gross operating margin +€143,937
up €143,937 (+115.4%), from €124,682 to €268,619
- Taxes -€6,118
down €6,118 (-45.9%), from €13,338 to €7,220
- Financial charges -€3,214
down €3,214 (-22.6%), from €14,212 to €10,998
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 | €517,008 | €621,540 | +€104,532 | +20.2% |
| Fixed assets | 21/28 | €419,203 | €479,499 | +€60,296 | +14.4% |
| Tangible fixed assets | 22/27 | €419,203 | €479,499 | +€60,296 | +14.4% |
| Land and buildings | 22 | €408,284 | €390,375 | -€17,909 | -4.4% |
| Plant, machinery and equipment | 23 | €10,919 | €73,461 | +€62,543 | +572.8% |
| Furniture and vehicles | 24 | - | €15,662 | +€15,662 | |
| Current assets | 29/58 | €97,805 | €142,041 | +€44,236 | +45.2% |
| Amounts receivable within one year | 40/41 | €14,447 | €36,512 | +€22,065 | +152.7% |
| Trade receivables | 40 | €13,335 | €24,338 | +€11,002 | +82.5% |
| Other amounts receivable | 41 | €1,111 | €12,174 | +€11,063 | +995.3% |
| Cash at bank and in hand | 54/58 | €83,358 | €105,529 | +€22,171 | +26.6% |
| Total equity and liabilities | 10/49 | €517,008 | €621,540 | +€104,532 | +20.2% |
| Equity | 10/15 | €149,630 | €301,309 | +€151,678 | +101.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €88,130 | €239,809 | +€151,678 | +172.1% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €119,888 | +€119,888 | |
| Distributable reserves | 133 | €81,630 | €113,421 | +€31,790 | +38.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | - | €39,963 | +€39,963 | |
| Deferred taxes | 168 | - | €39,963 | +€39,963 | |
| Amounts payable | 17/49 | €367,378 | €280,268 | -€87,109 | -23.7% |
| Amounts payable within one year | 42/48 | €367,378 | €280,268 | -€87,109 | -23.7% |
| Trade debts | 44 | €17,760 | €15,975 | -€1,785 | -10.1% |
| Suppliers | 440/4 | €17,760 | €15,975 | -€1,785 | -10.1% |
| Taxes, remuneration and social security | 45 | €4,666 | €8,298 | +€3,632 | +77.8% |
| Taxes | 450/3 | €4,666 | €4,666 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €3,632 | +€3,632 | |
| Other amounts payable | 47/48 | €344,951 | €255,996 | -€88,955 | -25.8% |
| Non-recurring operating income | 76A | - | €159,851 | +€159,851 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,872 | €46,005 | +€2,133 | +4.9% |
| Other operating charges | 640/8 | €13,626 | €12,755 | -€871 | -6.4% |
| Gross operating margin | 9900 | €124,682 | €268,619 | +€143,937 | +115.4% |
| Operating profit (loss) | 9901 | €67,184 | €209,859 | +€142,675 | +212.4% |
| Financial income | 75/76B | €381 | €0 | -€381 | -100.0% |
| Recurring financial income | 75 | €381 | €0 | -€381 | -100.0% |
| Financial charges | 65/66B | €14,212 | €10,998 | -€3,214 | -22.6% |
| Recurring financial charges | 65 | €14,212 | €10,998 | -€3,214 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €53,353 | €198,861 | +€145,508 | +272.7% |
| Transfer to deferred taxes | 680 | - | €39,963 | +€39,963 | |
| Income taxes | 67/77 | €13,338 | €7,220 | -€6,118 | -45.9% |
| Profit (loss) for the period | 9904 | €40,015 | €151,678 | +€111,664 | +279.1% |
| Transfer to tax-exempt reserves | 689 | - | €119,888 | +€119,888 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,015 | €31,790 | -€8,224 | -20.6% |
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.