KARLSAT: 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.
KARLSAT
Largest movements
- Receivables within one year +€125
up €125 (+89.5%), from €139 to €264
- Other debts +€718
up €718 (+4.0%), from €18,009 to €18,726
- Profit (loss) carried forward -€593
down €593 (-1.0%), from -€60,015 to -€60,608
- Financial charges -€209
no longer reported in 2025 (was €209)
- Gross operating margin +€133
up €133 (+18.3%), from -€726 to -€593
- Purchases and services -€133
down €133 (-18.3%), from €726 to €593
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139 | €264 | +€125 | +89.5% |
| Current assets | 29/58 | €139 | €264 | +€125 | +89.5% |
| Amounts receivable within one year | 40/41 | €139 | €264 | +€125 | +89.5% |
| Other amounts receivable | 41 | €139 | €264 | +€125 | +89.5% |
| Total equity and liabilities | 10/49 | €139 | €264 | +€125 | +89.5% |
| Equity | 10/15 | -€29,926 | -€30,519 | -€593 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,489 | €11,489 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,075 | €1,075 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,075 | €1,075 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €7,314 | €7,314 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,015 | -€60,608 | -€593 | -1.0% |
| Amounts payable | 17/49 | €30,065 | €30,782 | +€718 | +2.4% |
| Amounts payable within one year | 42/48 | €30,065 | €30,782 | +€718 | +2.4% |
| Taxes, remuneration and social security | 45 | €12,056 | €12,056 | = | 0.0% |
| Remuneration and social security | 454/9 | €12,056 | €12,056 | = | 0.0% |
| Other amounts payable | 47/48 | €18,009 | €18,726 | +€718 | +4.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €726 | €593 | -€133 | -18.3% |
| Gross operating margin | 9900 | -€726 | -€593 | +€133 | +18.3% |
| Operating profit (loss) | 9901 | -€726 | -€593 | +€133 | +18.3% |
| Financial charges | 65/66B | €209 | - | -€209 | |
| Recurring financial charges | 65 | €209 | - | -€209 | |
| Profit (loss) for the period before taxes | 9903 | -€935 | -€593 | +€342 | +36.6% |
| Profit (loss) for the period | 9904 | -€935 | -€593 | +€342 | +36.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€935 | -€593 | +€342 | +36.6% |
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 13 October 2026 via checked.be.