KARMICA: 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.
KARMICA
Largest movements
- Receivables within one year +€30,136
up €30,136 (+464%), from €6,489 to €36,625
of which Trade receivables: +€24,436
- Cash +€18,148
up €18,148 (+41.6%), from €43,645 to €61,794
mainly Net result for the year (+€23,430) and Tax, wage and social debts (+€14,210)
- Stocks and contracts -€13,254
down €13,254 (-88.1%), from €15,051 to €1,797
- Tangible fixed assets -€1,567
down €1,567 (-38.6%), from €4,062 to €2,495
- Profit (loss) carried forward +€23,430
up €23,430 (+119%), from €19,676 to €43,106
- Tax, wage and social debts +€14,210
up €14,210 (+73.9%), from €19,224 to €33,434
- Other debts -€2,703
down €2,703 (-32.5%), from €8,329 to €5,626
- Trade debts -€1,233
down €1,233 (-16.4%), from €7,517 to €6,284
- Gross operating margin -€23,833
down €23,833 (-39.3%), from €60,605 to €36,772
- Depreciation +€942
up €942 (+151%), from €625 to €1,567
- Taxes -€886
down €886 (-8.0%), from €11,128 to €10,242
- Other operating charges +€799
up €799 (+634%), from €126 to €925
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 | €69,246 | €102,710 | +€33,464 | +48.3% |
| Fixed assets | 21/28 | €4,062 | €2,495 | -€1,567 | -38.6% |
| Tangible fixed assets | 22/27 | €4,062 | €2,495 | -€1,567 | -38.6% |
| Furniture and vehicles | 24 | €4,062 | €2,495 | -€1,567 | -38.6% |
| Current assets | 29/58 | €65,185 | €100,215 | +€35,031 | +53.7% |
| Stocks and contracts in progress | 3 | €15,051 | €1,797 | -€13,254 | -88.1% |
| Stocks | 30/36 | €15,051 | €1,797 | -€13,254 | -88.1% |
| Amounts receivable within one year | 40/41 | €6,489 | €36,625 | +€30,136 | +464% |
| Trade receivables | 40 | €6,489 | €30,925 | +€24,436 | +377% |
| Other amounts receivable | 41 | €0 | €5,700 | +€5,700 | |
| Cash at bank and in hand | 54/58 | €43,645 | €61,794 | +€18,148 | +41.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €69,246 | €102,710 | +€33,464 | +48.3% |
| Equity | 10/15 | €33,936 | €57,366 | +€23,430 | +69.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €19,676 | €43,106 | +€23,430 | +119% |
| Amounts payable | 17/49 | €35,311 | €45,345 | +€10,034 | +28.4% |
| Amounts payable within one year | 42/48 | €35,070 | €45,345 | +€10,275 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €7,517 | €6,284 | -€1,233 | -16.4% |
| Suppliers | 440/4 | €7,517 | €6,284 | -€1,233 | -16.4% |
| Taxes, remuneration and social security | 45 | €19,224 | €33,434 | +€14,210 | +73.9% |
| Taxes | 450/3 | €19,224 | €33,434 | +€14,210 | +73.9% |
| Other amounts payable | 47/48 | €8,329 | €5,626 | -€2,703 | -32.5% |
| Accrued charges and deferred income | 492/3 | €241 | €0 | -€241 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €625 | €1,567 | +€942 | +151% |
| Other operating charges | 640/8 | €126 | €925 | +€799 | +634% |
| Gross operating margin | 9900 | €60,605 | €36,772 | -€23,833 | -39.3% |
| Operating profit (loss) | 9901 | €59,855 | €34,280 | -€25,574 | -42.7% |
| Financial income | 75/76B | €387 | €904 | +€517 | +134% |
| Recurring financial income | 75 | €387 | €904 | +€517 | +134% |
| Financial charges | 65/66B | €948 | €1,512 | +€564 | +59.5% |
| Recurring financial charges | 65 | €948 | €1,512 | +€564 | +59.5% |
| Profit (loss) for the period before taxes | 9903 | €59,294 | €33,672 | -€25,622 | -43.2% |
| Income taxes | 67/77 | €11,128 | €10,242 | -€886 | -8.0% |
| Profit (loss) for the period | 9904 | €48,166 | €23,430 | -€24,736 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,166 | €23,430 | -€24,736 | -51.4% |
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 18 October 2026 via checked.be.