KarmaKarma: 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.
KarmaKarma
Largest movements
- Receivables within one year +€24,049
up €24,049 (+21.9%), from €109,702 to €133,751
of which Trade receivables: +€29,547
- Stocks and contracts -€8,628
down €8,628 (-48.0%), from €17,957 to €9,329
- Cash -€7,357
down €7,357 (-75.8%), from €9,705 to €2,348
mainly Receivables within one year (-€24,049) and Debts after one year (-€17,828)
- Tangible fixed assets +€6,962
up €6,962 (+79.8%), from €8,729 to €15,691
of which Plant, machinery and equipment: +€6,568
- Trade debts +€36,900
up €36,900 (+129%), from €28,692 to €65,591
- Debts after one year -€17,828
down €17,828 (-35.5%), from €50,272 to €32,444
- Other debts -€10,932
down €10,932 (-71.4%), from €15,318 to €4,386
- Tax, wage and social debts +€5,323
up €5,323 (+532%), from €1,000 to €6,323
of which Remuneration and social security: +€4,723
- Staff costs +€12,011
new in 2025: €12,011
- Gross operating margin -€5,653
down €5,653 (-32.8%), from €17,210 to €11,557
- Financial charges +€3,042
up €3,042 (+130%), from €2,334 to €5,376
- Taxes +€2,651
new in 2025: €2,651
- Depreciation -€1,195
down €1,195 (-23.6%), from €5,074 to €3,879
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 | €146,787 | €162,033 | +€15,245 | +10.4% |
| Fixed assets | 21/28 | €8,729 | €15,691 | +€6,962 | +79.8% |
| Tangible fixed assets | 22/27 | €8,729 | €15,691 | +€6,962 | +79.8% |
| Plant, machinery and equipment | 23 | €3,996 | €10,563 | +€6,568 | +164% |
| Furniture and vehicles | 24 | €912 | €1,810 | +€898 | +98.4% |
| Other tangible fixed assets | 26 | €3,821 | €3,318 | -€504 | -13.2% |
| Current assets | 29/58 | €138,058 | €146,342 | +€8,284 | +6.0% |
| Stocks and contracts in progress | 3 | €17,957 | €9,329 | -€8,628 | -48.0% |
| Stocks | 30/36 | €17,957 | €9,329 | -€8,628 | -48.0% |
| Amounts receivable within one year | 40/41 | €109,702 | €133,751 | +€24,049 | +21.9% |
| Trade receivables | 40 | €101,903 | €131,450 | +€29,547 | +29.0% |
| Other amounts receivable | 41 | €7,799 | €2,301 | -€5,498 | -70.5% |
| Cash at bank and in hand | 54/58 | €9,705 | €2,348 | -€7,357 | -75.8% |
| Deferred charges and accrued income | 490/1 | €694 | €914 | +€220 | +31.7% |
| Total equity and liabilities | 10/49 | €146,787 | €162,033 | +€15,245 | +10.4% |
| Equity | 10/15 | €35,031 | €35,224 | +€193 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,431 | €16,624 | +€193 | +1.2% |
| Amounts payable | 17/49 | €111,757 | €126,809 | +€15,052 | +13.5% |
| Amounts payable after more than one year | 17 | €50,272 | €32,444 | -€17,828 | -35.5% |
| Financial debts | 170/4 | €50,272 | €32,444 | -€17,828 | -35.5% |
| Amounts payable within one year | 42/48 | €61,485 | €94,365 | +€32,880 | +53.5% |
| Current portion of amounts payable after more than one year | 42 | €16,475 | €18,064 | +€1,590 | +9.6% |
| Trade debts | 44 | €28,692 | €65,591 | +€36,900 | +129% |
| Suppliers | 440/4 | €28,692 | €65,591 | +€36,900 | +129% |
| Taxes, remuneration and social security | 45 | €1,000 | €6,323 | +€5,323 | +532% |
| Taxes | 450/3 | €1,000 | €1,600 | +€600 | +60.0% |
| Remuneration and social security | 454/9 | - | €4,723 | +€4,723 | |
| Other amounts payable | 47/48 | €15,318 | €4,386 | -€10,932 | -71.4% |
| Remuneration, social security and pensions | 62 | - | €12,011 | +€12,011 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,074 | €3,879 | -€1,195 | -23.6% |
| Other operating charges | 640/8 | €1,210 | €657 | -€553 | -45.7% |
| Gross operating margin | 9900 | €17,210 | €11,557 | -€5,653 | -32.8% |
| Operating profit (loss) | 9901 | €10,926 | -€4,990 | -€15,916 | |
| Financial income | 75/76B | €13,149 | €13,210 | +€61 | +0.5% |
| Recurring financial income | 75 | €12,512 | €13,210 | +€698 | +5.6% |
| Non-recurring financial income | 76B | €638 | - | -€638 | |
| Financial charges | 65/66B | €2,334 | €5,376 | +€3,042 | +130% |
| Recurring financial charges | 65 | €2,334 | €5,376 | +€3,042 | +130% |
| Profit (loss) for the period before taxes | 9903 | €21,741 | €2,844 | -€18,897 | -86.9% |
| Income taxes | 67/77 | - | €2,651 | +€2,651 | |
| Profit (loss) for the period | 9904 | €21,741 | €193 | -€21,548 | -99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,741 | €193 | -€21,548 | -99.1% |
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 19 October 2026 via checked.be.