Karmeco: 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.
Karmeco
Largest movements
- Tangible fixed assets -€56,691
down €56,691 (-1.9%), from €3.0m to €2.9m
- Debts after one year -€67,522
down €67,522 (-7.9%), from €855,120 to €787,599
of which Financial debts: -€43,522
- Gross operating margin +€38,460
up €38,460 (+31.4%), from €122,654 to €161,114
- Taxes +€13,609
up €13,609 (+171.7%), from €7,925 to €21,534
- Other operating charges -€5,008
down €5,008 (-50.2%), from €9,983 to €4,975
- Depreciation +€3,708
up €3,708 (+7.0%), from €52,983 to €56,691
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 | €2,990,666 | €2,954,298 | -€36,369 | -1.2% |
| Fixed assets | 21/28 | €2,975,212 | €2,918,522 | -€56,691 | -1.9% |
| Tangible fixed assets | 22/27 | €2,975,212 | €2,918,522 | -€56,691 | -1.9% |
| Land and buildings | 22 | €2,975,212 | €2,918,522 | -€56,691 | -1.9% |
| Current assets | 29/58 | €15,454 | €35,776 | +€20,322 | +131.5% |
| Amounts receivable within one year | 40/41 | €825 | - | -€825 | |
| Other amounts receivable | 41 | €825 | - | -€825 | |
| Cash at bank and in hand | 54/58 | €14,629 | €35,422 | +€20,794 | +142.1% |
| Deferred charges and accrued income | 490/1 | - | €354 | +€354 | |
| Total equity and liabilities | 10/49 | €2,990,666 | €2,954,298 | -€36,369 | -1.2% |
| Equity | 10/15 | €2,017,580 | €2,017,580 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,840,785 | €1,840,785 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,335 | €156,335 | = | 0.0% |
| Amounts payable | 17/49 | €973,086 | €936,718 | -€36,369 | -3.7% |
| Amounts payable after more than one year | 17 | €855,120 | €787,599 | -€67,522 | -7.9% |
| Financial debts | 170/4 | €811,120 | €767,599 | -€43,522 | -5.4% |
| Other amounts payable | 178/9 | €44,000 | €20,000 | -€24,000 | -54.5% |
| Amounts payable within one year | 42/48 | €117,966 | €149,119 | +€31,153 | +26.4% |
| Current portion of amounts payable after more than one year | 42 | €42,734 | €43,552 | +€817 | +1.9% |
| Trade debts | 44 | €2,622 | €1,178 | -€1,444 | -55.1% |
| Suppliers | 440/4 | €2,622 | €1,178 | -€1,444 | -55.1% |
| Taxes, remuneration and social security | 45 | - | €13,534 | +€13,534 | |
| Taxes | 450/3 | - | €13,534 | +€13,534 | |
| Other amounts payable | 47/48 | €72,610 | €90,856 | +€18,246 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,983 | €56,691 | +€3,708 | +7.0% |
| Other operating charges | 640/8 | €9,983 | €4,975 | -€5,008 | -50.2% |
| Gross operating margin | 9900 | €122,654 | €161,114 | +€38,460 | +31.4% |
| Operating profit (loss) | 9901 | €59,689 | €99,448 | +€39,760 | +66.6% |
| Financial charges | 65/66B | €16,926 | €17,488 | +€562 | +3.3% |
| Recurring financial charges | 65 | €16,926 | €17,488 | +€562 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €42,763 | €81,960 | +€39,198 | +91.7% |
| Income taxes | 67/77 | €7,925 | €21,534 | +€13,609 | +171.7% |
| Profit (loss) for the period | 9904 | €34,838 | €60,426 | +€25,588 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,838 | €60,426 | +€25,588 | +73.4% |
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 11 October 2026 via checked.be.