KARMA CONSTRUCT: 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 CONSTRUCT
Largest movements
- Receivables within one year +€80,968
up €80,968 (+25.5%), from €317,872 to €398,840
of which Trade receivables: +€41,815
- Current investments -€29,925
down €29,925 (-99.7%), from €30,000 to €75
- Cash -€17,483
down €17,483 (-8.2%), from €212,495 to €195,011
mainly Receivables within one year (-€80,968) and Tax, wage and social debts (-€44,423)
- Tangible fixed assets +€8,558
up €8,558 (+25.2%), from €33,969 to €42,527
of which Furniture and vehicles: +€10,195
- Deferred charges and accrued income -€7,574
down €7,574 (-19.7%), from €38,376 to €30,802
- Trade debts +€65,150
up €65,150 (+22.6%), from €287,787 to €352,938
- Tax, wage and social debts -€44,423
down €44,423 (-55.9%), from €79,488 to €35,065
of which Taxes: -€37,920
- Profit (loss) carried forward +€32,746
up €32,746 (+11.0%), from €296,481 to €329,227
- Other debts -€22,906
down €22,906 (-73.5%), from €31,159 to €8,254
- Gross operating margin -€70,196
down €70,196 (-36.0%), from €194,936 to €124,740
- Staff costs -€51,010
down €51,010 (-64.3%), from €79,274 to €28,263
- Other operating charges +€6,471
up €6,471 (+303.1%), from €2,135 to €8,606
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 | €721,151 | €755,695 | +€34,544 | +4.8% |
| Fixed assets | 21/28 | €38,441 | €46,999 | +€8,558 | +22.3% |
| Tangible fixed assets | 22/27 | €33,969 | €42,527 | +€8,558 | +25.2% |
| Plant, machinery and equipment | 23 | €6,040 | €4,402 | -€1,637 | -27.1% |
| Furniture and vehicles | 24 | €27,930 | €38,125 | +€10,195 | +36.5% |
| Financial fixed assets | 28 | €4,472 | €4,472 | = | 0.0% |
| Current assets | 29/58 | €682,710 | €708,696 | +€25,986 | +3.8% |
| Stocks and contracts in progress | 3 | €83,967 | €83,967 | = | 0.0% |
| Stocks | 30/36 | €83,967 | €83,967 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €317,872 | €398,840 | +€80,968 | +25.5% |
| Trade receivables | 40 | €306,298 | €348,113 | +€41,815 | +13.7% |
| Other amounts receivable | 41 | €11,574 | €50,727 | +€39,154 | +338.3% |
| Current investments | 50/53 | €30,000 | €75 | -€29,925 | -99.7% |
| Cash at bank and in hand | 54/58 | €212,495 | €195,011 | -€17,483 | -8.2% |
| Deferred charges and accrued income | 490/1 | €38,376 | €30,802 | -€7,574 | -19.7% |
| Total equity and liabilities | 10/49 | €721,151 | €755,695 | +€34,544 | +4.8% |
| Equity | 10/15 | €304,541 | €337,287 | +€32,746 | +10.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €296,481 | €329,227 | +€32,746 | +11.0% |
| Amounts payable | 17/49 | €416,610 | €418,408 | +€1,798 | +0.4% |
| Amounts payable after more than one year | 17 | €11,186 | €9,808 | -€1,378 | -12.3% |
| Financial debts | 170/4 | €11,186 | €9,808 | -€1,378 | -12.3% |
| Amounts payable within one year | 42/48 | €405,424 | €408,600 | +€3,176 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €6,990 | €12,344 | +€5,354 | +76.6% |
| Trade debts | 44 | €287,787 | €352,938 | +€65,150 | +22.6% |
| Suppliers | 440/4 | €287,787 | €352,938 | +€65,150 | +22.6% |
| Taxes, remuneration and social security | 45 | €79,488 | €35,065 | -€44,423 | -55.9% |
| Taxes | 450/3 | €71,216 | €33,296 | -€37,920 | -53.2% |
| Remuneration and social security | 454/9 | €8,272 | €1,769 | -€6,503 | -78.6% |
| Other amounts payable | 47/48 | €31,159 | €8,254 | -€22,906 | -73.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €79,274 | €28,263 | -€51,010 | -64.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,474 | €22,035 | -€439 | -2.0% |
| Other operating charges | 640/8 | €2,135 | €8,606 | +€6,471 | +303.1% |
| Gross operating margin | 9900 | €194,936 | €124,740 | -€70,196 | -36.0% |
| Operating profit (loss) | 9901 | €91,054 | €65,836 | -€25,217 | -27.7% |
| Financial income | 75/76B | €287 | €13 | -€274 | -95.4% |
| Recurring financial income | 75 | €287 | €13 | -€274 | -95.4% |
| Financial charges | 65/66B | €6,502 | €8,318 | +€1,816 | +27.9% |
| Recurring financial charges | 65 | €6,502 | €8,318 | +€1,816 | +27.9% |
| Profit (loss) for the period before taxes | 9903 | €84,839 | €57,532 | -€27,307 | -32.2% |
| Income taxes | 67/77 | €25,190 | €24,785 | -€405 | -1.6% |
| Profit (loss) for the period | 9904 | €59,649 | €32,746 | -€26,902 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,649 | €32,746 | -€26,902 | -45.1% |
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 11 October 2026 via checked.be.