KARMATRANS: 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.
KARMATRANS
Largest movements
- Receivables within one year -€121,484
down €121,484 (-50.4%), from €241,199 to €119,715
of which Other amounts receivable: -€79,948
- Receivables after one year +€100,000
new in 2025: €100,000
- Tangible fixed assets -€7,167
down €7,167 (-83.2%), from €8,612 to €1,446
of which Furniture and vehicles: -€6,671
- Profit (loss) carried forward -€24,269
down €24,269 (-8.6%), from €283,009 to €258,740
- Other debts -€21,429
down €21,429 (-42.9%), from €50,000 to €28,571
- Reserves +€18,000
up €18,000 (+968%), from €1,860 to €19,860
of which Distributable reserves: +€16,140
- Debts after one year -€4,332
no longer reported in 2025 (was €4,332)
- Other operating charges +€7,564
up €7,564 (+475%), from €1,594 to €9,158
- Financial income -€3,310
down €3,310 (-53.9%), from €6,140 to €2,830
- Gross operating margin -€1,191
down €1,191 (-1.1%), from €107,597 to €106,406
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 | €373,059 | €342,383 | -€30,676 | -8.2% |
| Fixed assets | 21/28 | €24,621 | €17,454 | -€7,167 | -29.1% |
| Tangible fixed assets | 22/27 | €8,612 | €1,446 | -€7,167 | -83.2% |
| Plant, machinery and equipment | 23 | €1,941 | €1,446 | -€496 | -25.5% |
| Furniture and vehicles | 24 | €6,671 | - | -€6,671 | |
| Financial fixed assets | 28 | €16,009 | €16,009 | -€0 | 0.0% |
| Current assets | 29/58 | €348,438 | €324,929 | -€23,509 | -6.7% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €241,199 | €119,715 | -€121,484 | -50.4% |
| Trade receivables | 40 | €91,758 | €50,222 | -€41,536 | -45.3% |
| Other amounts receivable | 41 | €149,441 | €69,493 | -€79,948 | -53.5% |
| Cash at bank and in hand | 54/58 | €103,673 | €105,146 | +€1,473 | +1.4% |
| Deferred charges and accrued income | 490/1 | €3,566 | €68 | -€3,498 | -98.1% |
| Total equity and liabilities | 10/49 | €373,059 | €342,383 | -€30,676 | -8.2% |
| Equity | 10/15 | €303,469 | €297,200 | -€6,269 | -2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €19,860 | +€18,000 | +968% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €1,860 | €18,000 | +€16,140 | +868% |
| Profit (loss) carried forward | 14 | €283,009 | €258,740 | -€24,269 | -8.6% |
| Amounts payable | 17/49 | €69,590 | €45,183 | -€24,407 | -35.1% |
| Amounts payable after more than one year | 17 | €4,332 | - | -€4,332 | |
| Financial debts | 170/4 | €4,332 | - | -€4,332 | |
| Amounts payable within one year | 42/48 | €65,258 | €45,183 | -€20,075 | -30.8% |
| Trade debts | 44 | €13,209 | €16,312 | +€3,103 | +23.5% |
| Suppliers | 440/4 | €13,209 | €16,312 | +€3,103 | +23.5% |
| Taxes, remuneration and social security | 45 | €2,049 | €300 | -€1,749 | -85.4% |
| Taxes | 450/3 | €614 | €300 | -€314 | -51.1% |
| Remuneration and social security | 454/9 | €1,435 | - | -€1,435 | |
| Other amounts payable | 47/48 | €50,000 | €28,571 | -€21,429 | -42.9% |
| Non-recurring operating income | 76A | - | €5,778 | +€5,778 | |
| Remuneration, social security and pensions | 62 | €57,577 | €57,048 | -€529 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,403 | €7,167 | -€236 | -3.2% |
| Other operating charges | 640/8 | €1,594 | €9,158 | +€7,564 | +475% |
| Gross operating margin | 9900 | €107,597 | €106,406 | -€1,191 | -1.1% |
| Operating profit (loss) | 9901 | €41,023 | €33,033 | -€7,990 | -19.5% |
| Financial income | 75/76B | €6,140 | €2,830 | -€3,310 | -53.9% |
| Recurring financial income | 75 | €6,140 | €2,830 | -€3,310 | -53.9% |
| Financial charges | 65/66B | €842 | €1,352 | +€510 | +60.5% |
| Recurring financial charges | 65 | €842 | €1,352 | +€510 | +60.5% |
| Profit (loss) for the period before taxes | 9903 | €46,321 | €34,511 | -€11,810 | -25.5% |
| Income taxes | 67/77 | €12,845 | €12,209 | -€636 | -4.9% |
| Profit (loss) for the period | 9904 | €33,476 | €22,302 | -€11,174 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,476 | €22,302 | -€11,174 | -33.4% |
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 14 October 2026 via checked.be.