KARMA-XL: 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-XL
Largest movements
- Current investments -€60,000
no longer reported in 2025 (was €60,000)
- Cash +€55,648
up €55,648 (+132%), from €42,138 to €97,787
mainly Current investments (+€60,000) and Net result for the year (+€4,465)
- Reserves +€4,465
up €4,465 (+2.5%), from €178,548 to €183,013
of which Distributable reserves: +€6,325
- Other debts -€3,851
no longer reported in 2025 (was €3,851)
- Tax, wage and social debts -€2,100
down €2,100 (-49.6%), from €4,231 to €2,131
- Gross operating margin -€53,305
down €53,305 (-93.1%), from €57,240 to €3,935
- Taxes -€13,801
down €13,801 (-84.8%), from €16,272 to €2,470
- Financial charges -€962
down €962 (-62.1%), from €1,550 to €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.
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 | €207,288 | €204,172 | -€3,116 | -1.5% |
| Fixed assets | 21/28 | €245 | €136 | -€109 | -44.4% |
| Tangible fixed assets | 22/27 | €245 | €136 | -€109 | -44.4% |
| Plant, machinery and equipment | 23 | €245 | €136 | -€109 | -44.4% |
| Current assets | 29/58 | €207,043 | €204,035 | -€3,008 | -1.5% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,251 | €5,124 | +€1,873 | +57.6% |
| Other amounts receivable | 41 | €3,251 | €5,124 | +€1,873 | +57.6% |
| Current investments | 50/53 | €60,000 | - | -€60,000 | |
| Cash at bank and in hand | 54/58 | €42,138 | €97,787 | +€55,648 | +132% |
| Deferred charges and accrued income | 490/1 | €1,654 | €1,125 | -€529 | -32.0% |
| Total equity and liabilities | 10/49 | €207,288 | €204,172 | -€3,116 | -1.5% |
| Equity | 10/15 | €197,148 | €201,613 | +€4,465 | +2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €178,548 | €183,013 | +€4,465 | +2.5% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €176,688 | €183,013 | +€6,325 | +3.6% |
| Amounts payable | 17/49 | €10,140 | €2,559 | -€7,582 | -74.8% |
| Amounts payable within one year | 42/48 | €8,789 | €2,559 | -€6,231 | -70.9% |
| Trade debts | 44 | €707 | €427 | -€280 | -39.6% |
| Suppliers | 440/4 | €707 | €427 | -€280 | -39.6% |
| Taxes, remuneration and social security | 45 | €4,231 | €2,131 | -€2,100 | -49.6% |
| Taxes | 450/3 | €4,231 | €2,131 | -€2,100 | -49.6% |
| Other amounts payable | 47/48 | €3,851 | - | -€3,851 | |
| Accrued charges and deferred income | 492/3 | €1,351 | - | -€1,351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €653 | €109 | -€545 | -83.4% |
| Other operating charges | 640/8 | €63 | €121 | +€58 | +92.4% |
| Gross operating margin | 9900 | €57,240 | €3,935 | -€53,305 | -93.1% |
| Operating profit (loss) | 9901 | €56,523 | €3,705 | -€52,818 | -93.4% |
| Financial income | 75/76B | €3,608 | €3,818 | +€210 | +5.8% |
| Recurring financial income | 75 | €3,608 | €3,818 | +€210 | +5.8% |
| Financial charges | 65/66B | €1,550 | €588 | -€962 | -62.1% |
| Recurring financial charges | 65 | €1,550 | €588 | -€962 | -62.1% |
| Profit (loss) for the period before taxes | 9903 | €58,582 | €6,936 | -€51,646 | -88.2% |
| Income taxes | 67/77 | €16,272 | €2,470 | -€13,801 | -84.8% |
| Profit (loss) for the period | 9904 | €42,310 | €4,465 | -€37,845 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,310 | €4,465 | -€37,845 | -89.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.