Karma Consult: 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.
Karma Consult
Largest movements
- Tangible fixed assets +€374,509
up €374,509 (+866.5%), from €43,223 to €417,732
of which Land and buildings: +€343,188
- Receivables within one year -€30,819
down €30,819 (-35.6%), from €86,681 to €55,862
of which Other amounts receivable: -€31,493
- Cash -€9,035
down €9,035 (-19.3%), from €46,763 to €37,728
mainly Investment in fixed assets (net) (-€433,258) and Contributions, distributions and other (-€214,000)
- Debts after one year +€275,201
up €275,201 (+272.7%), from €100,925 to €376,126
- Other debts +€91,272
up €91,272 (+921.5%), from €9,905 to €101,177
- Profit (loss) carried forward -€57,001
down €57,001 (-36.8%), from €154,907 to €97,906
- Tax, wage and social debts +€15,879
up €15,879 (+302461.0%), from €5 to €15,884
- Current portion of long-term debt +€11,723
up €11,723 (+34.3%), from €34,180 to €45,904
- Gross operating margin +€44,445
up €44,445 (+23.3%), from €190,535 to €234,980
- Depreciation +€43,833
up €43,833 (+293.9%), from €14,915 to €58,749
- Financial charges +€6,931
up €6,931 (+103.4%), from €6,703 to €13,634
- Taxes -€4,521
down €4,521 (-95.5%), from €4,736 to €215
- Financial income -€3,719
down €3,719 (-75.2%), from €4,946 to €1,228
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 | €363,354 | €704,137 | +€340,783 | +93.8% |
| Fixed assets | 21/28 | €228,223 | €602,732 | +€374,509 | +164.1% |
| Tangible fixed assets | 22/27 | €43,223 | €417,732 | +€374,509 | +866.5% |
| Land and buildings | 22 | - | €343,188 | +€343,188 | |
| Plant, machinery and equipment | 23 | €2,956 | €2,197 | -€759 | -25.7% |
| Furniture and vehicles | 24 | €15,442 | €13,053 | -€2,389 | -15.5% |
| Leasing and similar rights | 25 | €19,491 | €53,961 | +€34,469 | +176.8% |
| Other tangible fixed assets | 26 | €5,333 | €5,333 | = | 0.0% |
| Financial fixed assets | 28 | €185,000 | €185,000 | = | 0.0% |
| Current assets | 29/58 | €135,131 | €101,405 | -€33,726 | -25.0% |
| Amounts receivable within one year | 40/41 | €86,681 | €55,862 | -€30,819 | -35.6% |
| Trade receivables | 40 | - | €675 | +€675 | |
| Other amounts receivable | 41 | €86,681 | €55,187 | -€31,493 | -36.3% |
| Cash at bank and in hand | 54/58 | €46,763 | €37,728 | -€9,035 | -19.3% |
| Deferred charges and accrued income | 490/1 | €1,687 | €7,815 | +€6,128 | +363.2% |
| Total equity and liabilities | 10/49 | €363,354 | €704,137 | +€340,783 | +93.8% |
| Equity | 10/15 | €217,282 | €160,281 | -€57,001 | -26.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €375 | €375 | = | 0.0% |
| Distributable reserves | 133 | €375 | €375 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,907 | €97,906 | -€57,001 | -36.8% |
| Amounts payable | 17/49 | €146,071 | €543,856 | +€397,784 | +272.3% |
| Amounts payable after more than one year | 17 | €100,925 | €376,126 | +€275,201 | +272.7% |
| Financial debts | 170/4 | €100,925 | €376,126 | +€275,201 | +272.7% |
| Amounts payable within one year | 42/48 | €44,132 | €163,540 | +€119,408 | +270.6% |
| Current portion of amounts payable after more than one year | 42 | €34,180 | €45,904 | +€11,723 | +34.3% |
| Trade debts | 44 | €42 | €575 | +€533 | +1275.6% |
| Suppliers | 440/4 | €42 | €575 | +€533 | +1275.6% |
| Taxes, remuneration and social security | 45 | €5 | €15,884 | +€15,879 | +302461.0% |
| Taxes | 450/3 | €5 | €15,884 | +€15,879 | +302461.0% |
| Other amounts payable | 47/48 | €9,905 | €101,177 | +€91,272 | +921.5% |
| Accrued charges and deferred income | 492/3 | €1,014 | €4,190 | +€3,176 | +313.2% |
| Non-recurring operating income | 76A | €6 | - | -€6 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,915 | €58,749 | +€43,833 | +293.9% |
| Other operating charges | 640/8 | €4,869 | €6,611 | +€1,742 | +35.8% |
| Gross operating margin | 9900 | €190,535 | €234,980 | +€44,445 | +23.3% |
| Operating profit (loss) | 9901 | €170,751 | €169,621 | -€1,130 | -0.7% |
| Financial income | 75/76B | €4,946 | €1,228 | -€3,719 | -75.2% |
| Recurring financial income | 75 | €4,946 | €1,228 | -€3,719 | -75.2% |
| Financial charges | 65/66B | €6,703 | €13,634 | +€6,931 | +103.4% |
| Recurring financial charges | 65 | €6,703 | €13,634 | +€6,931 | +103.4% |
| Profit (loss) for the period before taxes | 9903 | €168,994 | €157,214 | -€11,780 | -7.0% |
| Income taxes | 67/77 | €4,736 | €215 | -€4,521 | -95.5% |
| Profit (loss) for the period | 9904 | €164,258 | €156,999 | -€7,259 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €164,258 | €156,999 | -€7,259 | -4.4% |
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 1 October 2026 via checked.be.