KARNELIAN: 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.
KARNELIAN
Largest movements
- Cash +€24,306
up €24,306 (+318%), from €7,649 to €31,955
mainly Receivables within one year (+€20,430) and Depreciation (+€15,650)
- Receivables within one year -€20,430
down €20,430 (-70.9%), from €28,831 to €8,401
of which Other amounts receivable: -€18,322
- Tangible fixed assets -€15,212
down €15,212 (-14.0%), from €108,305 to €93,093
of which Land and buildings: -€8,809
- Financial fixed assets -€1,500
no longer reported in 2025 (was €1,500)
- Profit (loss) carried forward -€7,190
down €7,190 (-39.5%), from -€18,213 to -€25,403
- Debts after one year -€5,983
down €5,983 (-8.4%), from €70,939 to €64,957
- Gross operating margin -€15,389
down €15,389 (-52.8%), from €29,121 to €13,732
- Staff costs -€10,070
down €10,070 (-98.5%), from €10,219 to €149
- Other operating charges +€1,432
up €1,432 (+81.1%), from €1,765 to €3,197
- Depreciation +€443
up €443 (+2.9%), from €15,207 to €15,650
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 | €148,487 | €135,065 | -€13,422 | -9.0% |
| Fixed assets | 21/28 | €109,805 | €93,093 | -€16,712 | -15.2% |
| Tangible fixed assets | 22/27 | €108,305 | €93,093 | -€15,212 | -14.0% |
| Land and buildings | 22 | €83,760 | €74,951 | -€8,809 | -10.5% |
| Furniture and vehicles | 24 | €24,545 | €18,142 | -€6,403 | -26.1% |
| Financial fixed assets | 28 | €1,500 | - | -€1,500 | |
| Current assets | 29/58 | €38,683 | €41,972 | +€3,290 | +8.5% |
| Amounts receivable within one year | 40/41 | €28,831 | €8,401 | -€20,430 | -70.9% |
| Trade receivables | 40 | €10,509 | €8,401 | -€2,108 | -20.1% |
| Other amounts receivable | 41 | €18,322 | - | -€18,322 | |
| Cash at bank and in hand | 54/58 | €7,649 | €31,955 | +€24,306 | +318% |
| Deferred charges and accrued income | 490/1 | €2,203 | €1,616 | -€586 | -26.6% |
| Total equity and liabilities | 10/49 | €148,487 | €135,065 | -€13,422 | -9.0% |
| Equity | 10/15 | €14,440 | €7,250 | -€7,190 | -49.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €26,453 | €26,453 | = | 0.0% |
| Distributable reserves | 133 | €26,453 | €26,453 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,213 | -€25,403 | -€7,190 | -39.5% |
| Amounts payable | 17/49 | €134,047 | €127,815 | -€6,232 | -4.6% |
| Amounts payable after more than one year | 17 | €70,939 | €64,957 | -€5,983 | -8.4% |
| Financial debts | 170/4 | €70,939 | €64,957 | -€5,983 | -8.4% |
| Amounts payable within one year | 42/48 | €63,092 | €62,847 | -€244 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €5,856 | €5,983 | +€127 | +2.2% |
| Trade debts | 44 | €3,342 | €2,564 | -€778 | -23.3% |
| Suppliers | 440/4 | €3,342 | €2,564 | -€778 | -23.3% |
| Taxes, remuneration and social security | 45 | €5,114 | €4,598 | -€516 | -10.1% |
| Taxes | 450/3 | €3,437 | €3,962 | +€525 | +15.3% |
| Remuneration and social security | 454/9 | €1,677 | €636 | -€1,041 | -62.1% |
| Other amounts payable | 47/48 | €48,780 | €49,703 | +€923 | +1.9% |
| Accrued charges and deferred income | 492/3 | €16 | €11 | -€5 | -33.2% |
| Non-recurring operating income | 76A | - | €115 | +€115 | |
| Remuneration, social security and pensions | 62 | €10,219 | €149 | -€10,070 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,207 | €15,650 | +€443 | +2.9% |
| Other operating charges | 640/8 | €1,765 | €3,197 | +€1,432 | +81.1% |
| Gross operating margin | 9900 | €29,121 | €13,732 | -€15,389 | -52.8% |
| Operating profit (loss) | 9901 | €1,930 | -€5,264 | -€7,195 | |
| Financial income | 75/76B | €212 | €73 | -€139 | -65.4% |
| Recurring financial income | 75 | €212 | €73 | -€139 | -65.4% |
| Financial charges | 65/66B | €1,927 | €1,751 | -€175 | -9.1% |
| Recurring financial charges | 65 | €1,927 | €1,751 | -€175 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €216 | -€6,942 | -€7,158 | |
| Income taxes | 67/77 | €250 | €248 | -€2 | -0.9% |
| Profit (loss) for the period | 9904 | -€34 | -€7,190 | -€7,156 | -20,844% |
| Profit (loss) for the period to be appropriated | 9905 | -€34 | -€7,190 | -€7,156 | -20,844% |
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 17 October 2026 via checked.be.