KARLOS: 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.
KARLOS
Largest movements
- Cash -€33,741
down €33,741 (-97.2%), from €34,702 to €961
mainly Net result for the year (-€43,288) and Investment in fixed assets (net) (-€39,435)
- Receivables within one year -€24,081
down €24,081 (-88.5%), from €27,215 to €3,133
of which Trade receivables: -€12,899
- Tangible fixed assets +€19,085
up €19,085 (+19.4%), from €98,448 to €117,534
of which Plant, machinery and equipment: +€30,056
- Deferred charges and accrued income +€1,955
up €1,955 (+715.1%), from €273 to €2,229
- Profit (loss) carried forward -€43,288
down €43,288 (-66.0%), from €65,549 to €22,261
- Other debts +€28,582
up €28,582 (+335.0%), from €8,533 to €37,115
- Debts after one year -€11,489
down €11,489 (-24.5%), from €46,915 to €35,426
- Tax, wage and social debts -€8,329
down €8,329 (-97.4%), from €8,554 to €225
of which Remuneration and social security: -€5,036
- Trade debts -€2,578
down €2,578 (-17.3%), from €14,919 to €12,341
- Depreciation +€15,989
up €15,989 (+366.7%), from €4,360 to €20,350
- Gross operating margin +€10,121
up €10,121 (+33.8%), from -€29,903 to -€19,782
- Financial income -€2,132
down €2,132 (-100.0%), from €2,132 to €0
- Financial charges +€2,068
up €2,068 (+258.3%), from €801 to €2,869
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 | €160,638 | €123,857 | -€36,781 | -22.9% |
| Fixed assets | 21/28 | €98,448 | €117,534 | +€19,085 | +19.4% |
| Tangible fixed assets | 22/27 | €98,448 | €117,534 | +€19,085 | +19.4% |
| Plant, machinery and equipment | 23 | €13,204 | €43,260 | +€30,056 | +227.6% |
| Furniture and vehicles | 24 | €76,643 | €60,630 | -€16,013 | -20.9% |
| Other tangible fixed assets | 26 | €8,601 | €13,643 | +€5,042 | +58.6% |
| Current assets | 29/58 | €62,190 | €6,323 | -€55,867 | -89.8% |
| Amounts receivable within one year | 40/41 | €27,215 | €3,133 | -€24,081 | -88.5% |
| Trade receivables | 40 | €12,899 | €0 | -€12,899 | -100.0% |
| Other amounts receivable | 41 | €14,316 | €3,133 | -€11,183 | -78.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €34,702 | €961 | -€33,741 | -97.2% |
| Deferred charges and accrued income | 490/1 | €273 | €2,229 | +€1,955 | +715.1% |
| Total equity and liabilities | 10/49 | €160,638 | €123,857 | -€36,781 | -22.9% |
| Equity | 10/15 | €70,549 | €27,261 | -€43,288 | -61.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,549 | €22,261 | -€43,288 | -66.0% |
| Amounts payable | 17/49 | €90,089 | €96,596 | +€6,507 | +7.2% |
| Amounts payable after more than one year | 17 | €46,915 | €35,426 | -€11,489 | -24.5% |
| Financial debts | 170/4 | €46,915 | €35,426 | -€11,489 | -24.5% |
| Amounts payable within one year | 42/48 | €43,174 | €61,170 | +€17,996 | +41.7% |
| Current portion of amounts payable after more than one year | 42 | €11,169 | €11,489 | +€320 | +2.9% |
| Trade debts | 44 | €14,919 | €12,341 | -€2,578 | -17.3% |
| Suppliers | 440/4 | €14,919 | €12,341 | -€2,578 | -17.3% |
| Taxes, remuneration and social security | 45 | €8,554 | €225 | -€8,329 | -97.4% |
| Taxes | 450/3 | €3,517 | €225 | -€3,292 | -93.6% |
| Remuneration and social security | 454/9 | €5,036 | €0 | -€5,036 | -100.0% |
| Other amounts payable | 47/48 | €8,533 | €37,115 | +€28,582 | +335.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,360 | €20,350 | +€15,989 | +366.7% |
| Other operating charges | 640/8 | €241 | €63 | -€178 | -73.7% |
| Non-recurring operating charges | 66A | €45 | €0 | -€45 | -100.0% |
| Gross operating margin | 9900 | -€29,903 | -€19,782 | +€10,121 | +33.8% |
| Operating profit (loss) | 9901 | -€34,549 | -€40,195 | -€5,646 | -16.3% |
| Financial income | 75/76B | €2,132 | €0 | -€2,132 | -100.0% |
| Recurring financial income | 75 | €2,132 | €0 | -€2,132 | -100.0% |
| Financial charges | 65/66B | €801 | €2,869 | +€2,068 | +258.3% |
| Recurring financial charges | 65 | €801 | €2,869 | +€2,068 | +258.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,218 | -€43,063 | -€9,846 | -29.6% |
| Income taxes | 67/77 | €26 | €225 | +€198 | +750.0% |
| Profit (loss) for the period | 9904 | -€33,244 | -€43,288 | -€10,044 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,244 | -€43,288 | -€10,044 | -30.2% |
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.