KARMA: 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.
KARMA
Largest movements
- Tangible fixed assets -€8,513
down €8,513 (-12.0%), from €71,113 to €62,600
of which Plant, machinery and equipment: -€8,310
- Cash +€1,680
up €1,680 (+190%), from €885 to €2,565
mainly Depreciation (+€8,513) and Net result for the year (+€1,635)
- Other debts -€10,005
down €10,005 (-14.8%), from €67,652 to €57,647
- Profit (loss) carried forward +€1,635
up €1,635, from -€310 to €1,325
- Trade debts +€1,138
up €1,138 (+730%), from €156 to €1,294
- Financial charges -€2,099
down €2,099 (-31.8%), from €6,595 to €4,496
- Gross operating margin -€1,776
down €1,776 (-10.3%), from €17,189 to €15,413
- Depreciation -€1,350
down €1,350 (-13.7%), from €9,863 to €8,513
- Other operating charges -€857
down €857 (-66.0%), from €1,300 to €443
- Taxes +€337
new in 2025: €337
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 | €72,498 | €65,603 | -€6,895 | -9.5% |
| Fixed assets | 21/28 | €71,113 | €62,600 | -€8,513 | -12.0% |
| Tangible fixed assets | 22/27 | €71,113 | €62,600 | -€8,513 | -12.0% |
| Plant, machinery and equipment | 23 | €70,167 | €61,857 | -€8,310 | -11.8% |
| Furniture and vehicles | 24 | €946 | €743 | -€203 | -21.5% |
| Current assets | 29/58 | €1,385 | €3,003 | +€1,618 | +117% |
| Amounts receivable within one year | 40/41 | €401 | €337 | -€64 | -15.9% |
| Other amounts receivable | 41 | €401 | €337 | -€64 | -15.9% |
| Cash at bank and in hand | 54/58 | €885 | €2,565 | +€1,680 | +190% |
| Deferred charges and accrued income | 490/1 | €98 | €100 | +€2 | +2.0% |
| Total equity and liabilities | 10/49 | €72,498 | €65,603 | -€6,895 | -9.5% |
| Equity | 10/15 | €4,690 | €6,325 | +€1,635 | +34.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€310 | €1,325 | +€1,635 | |
| Amounts payable | 17/49 | €67,808 | €59,278 | -€8,530 | -12.6% |
| Amounts payable within one year | 42/48 | €67,808 | €59,278 | -€8,530 | -12.6% |
| Trade debts | 44 | €156 | €1,294 | +€1,138 | +730% |
| Suppliers | 440/4 | €156 | €1,294 | +€1,138 | +730% |
| Taxes, remuneration and social security | 45 | - | €337 | +€337 | |
| Taxes | 450/3 | - | €337 | +€337 | |
| Other amounts payable | 47/48 | €67,652 | €57,647 | -€10,005 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,863 | €8,513 | -€1,350 | -13.7% |
| Other operating charges | 640/8 | €1,300 | €443 | -€857 | -66.0% |
| Gross operating margin | 9900 | €17,189 | €15,413 | -€1,776 | -10.3% |
| Operating profit (loss) | 9901 | €6,026 | €6,457 | +€431 | +7.2% |
| Financial income | 75/76B | €259 | €11 | -€248 | -95.9% |
| Recurring financial income | 75 | €259 | €11 | -€248 | -95.9% |
| Financial charges | 65/66B | €6,595 | €4,496 | -€2,099 | -31.8% |
| Recurring financial charges | 65 | €6,595 | €4,496 | -€2,099 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | -€310 | €1,972 | +€2,282 | |
| Income taxes | 67/77 | - | €337 | +€337 | |
| Profit (loss) for the period | 9904 | -€310 | €1,635 | +€1,945 | |
| Profit (loss) for the period to be appropriated | 9905 | -€310 | €1,635 | +€1,945 |
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 17 October 2026 via checked.be.