Karma Engineering: 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 Engineering
Largest movements
- Tangible fixed assets -€14,628
down €14,628 (-42.1%), from €34,775 to €20,147
of which Furniture and vehicles: -€14,547
- Cash +€11,414
up €11,414 (+20.3%), from €56,216 to €67,631
mainly Net result for the year (+€50,061) and Other debts (+€43,699)
- Deferred charges and accrued income +€1,625
up €1,625 (+201.0%), from €808 to €2,433
- Other debts +€43,699
up €43,699 (+93.3%), from €46,825 to €90,525
- Reserves -€40,463
down €40,463 (-51.1%), from €79,219 to €38,756
- Debts after one year -€11,454
down €11,454 (-79.9%), from €14,341 to €2,887
- Tax, wage and social debts +€4,233
up €4,233 (+156.8%), from €2,700 to €6,933
of which Taxes: +€4,233
- Trade debts +€2,861
up €2,861 (+152.3%), from €1,879 to €4,740
- Gross operating margin +€4,764
up €4,764 (+6.4%), from €73,929 to €78,693
- Taxes +€2,195
up €2,195 (+17.7%), from €12,392 to €14,588
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 | €158,274 | €157,295 | -€979 | -0.6% |
| Fixed assets | 21/28 | €35,825 | €21,197 | -€14,628 | -40.8% |
| Tangible fixed assets | 22/27 | €34,775 | €20,147 | -€14,628 | -42.1% |
| Plant, machinery and equipment | 23 | €199 | €118 | -€82 | -41.0% |
| Furniture and vehicles | 24 | €34,576 | €20,029 | -€14,547 | -42.1% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €122,449 | €136,098 | +€13,649 | +11.1% |
| Amounts receivable within one year | 40/41 | €65,425 | €66,035 | +€610 | +0.9% |
| Trade receivables | 40 | €8,918 | €14,283 | +€5,365 | +60.2% |
| Other amounts receivable | 41 | €56,507 | €51,752 | -€4,755 | -8.4% |
| Cash at bank and in hand | 54/58 | €56,216 | €67,631 | +€11,414 | +20.3% |
| Deferred charges and accrued income | 490/1 | €808 | €2,433 | +€1,625 | +201.0% |
| Total equity and liabilities | 10/49 | €158,274 | €157,295 | -€979 | -0.6% |
| Equity | 10/15 | €81,219 | €40,756 | -€40,463 | -49.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €79,219 | €38,756 | -€40,463 | -51.1% |
| Distributable reserves | 133 | €79,219 | €38,756 | -€40,463 | -51.1% |
| Amounts payable | 17/49 | €77,055 | €116,539 | +€39,484 | +51.2% |
| Amounts payable after more than one year | 17 | €14,341 | €2,887 | -€11,454 | -79.9% |
| Financial debts | 170/4 | €14,341 | €2,887 | -€11,454 | -79.9% |
| Amounts payable within one year | 42/48 | €62,714 | €113,652 | +€50,939 | +81.2% |
| Current portion of amounts payable after more than one year | 42 | €11,309 | €11,454 | +€145 | +1.3% |
| Trade debts | 44 | €1,879 | €4,740 | +€2,861 | +152.3% |
| Suppliers | 440/4 | €1,879 | €4,740 | +€2,861 | +152.3% |
| Taxes, remuneration and social security | 45 | €2,700 | €6,933 | +€4,233 | +156.8% |
| Taxes | 450/3 | €2,700 | €6,933 | +€4,233 | +156.8% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €46,825 | €90,525 | +€43,699 | +93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,324 | €15,047 | -€277 | -1.8% |
| Other operating charges | 640/8 | €688 | €488 | -€200 | -29.1% |
| Gross operating margin | 9900 | €73,929 | €78,693 | +€4,764 | +6.4% |
| Operating profit (loss) | 9901 | €57,916 | €63,158 | +€5,241 | +9.1% |
| Financial income | 75/76B | €2,521 | €2,714 | +€193 | +7.7% |
| Recurring financial income | 75 | €2,521 | €2,714 | +€193 | +7.7% |
| Financial charges | 65/66B | €1,219 | €1,223 | +€4 | +0.3% |
| Recurring financial charges | 65 | €1,219 | €1,223 | +€4 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €59,218 | €64,649 | +€5,431 | +9.2% |
| Income taxes | 67/77 | €12,392 | €14,588 | +€2,195 | +17.7% |
| Profit (loss) for the period | 9904 | €46,825 | €50,061 | +€3,236 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,825 | €50,061 | +€3,236 | +6.9% |
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.