Karo: what changed
Two fiscal 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.
Karo
Largest movements
- Cash +€28,100
up €28,100 (+95.0%), from €29,570 to €57,670
mainly Depreciation (+€14,575) and Net result for the year (+€10,230)
- Tangible fixed assets -€12,550
down €12,550 (-4.8%), from €263,446 to €250,896
of which Plant, machinery and equipment: -€12,550
- Receivables within one year -€4,705
down €4,705 (-11.2%), from €42,086 to €37,380
of which Other amounts receivable: -€3,348
- Reserves +€10,230
up €10,230 (+8.1%), from €125,617 to €135,846
- Taxes +€2,496
up €2,496 (+296.9%), from €841 to €3,336
- Gross operating margin +€2,397
up €2,397 (+8.6%), from €27,982 to €30,379
- Depreciation +€1,146
up €1,146 (+8.5%), from €13,430 to €14,575
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 | €335,745 | €345,946 | +€10,200 | +3.0% |
| Fixed assets | 21/28 | €263,446 | €250,896 | -€12,550 | -4.8% |
| Tangible fixed assets | 22/27 | €263,446 | €250,896 | -€12,550 | -4.8% |
| Land and buildings | 22 | €208,548 | €208,548 | = | 0.0% |
| Plant, machinery and equipment | 23 | €54,897 | €42,347 | -€12,550 | -22.9% |
| Current assets | 29/58 | €72,300 | €95,050 | +€22,750 | +31.5% |
| Amounts receivable within one year | 40/41 | €42,086 | €37,380 | -€4,705 | -11.2% |
| Trade receivables | 40 | €10,654 | €9,297 | -€1,357 | -12.7% |
| Other amounts receivable | 41 | €31,431 | €28,083 | -€3,348 | -10.7% |
| Cash at bank and in hand | 54/58 | €29,570 | €57,670 | +€28,100 | +95.0% |
| Deferred charges and accrued income | 490/1 | €645 | €0 | -€645 | -100.0% |
| Total equity and liabilities | 10/49 | €335,745 | €345,946 | +€10,200 | +3.0% |
| Equity | 10/15 | €333,281 | €343,511 | +€10,230 | +3.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €125,617 | €135,846 | +€10,230 | +8.1% |
| Distributable reserves | 133 | €125,617 | €135,846 | +€10,230 | +8.1% |
| Profit (loss) carried forward | 14 | €188,664 | €188,664 | = | 0.0% |
| Amounts payable | 17/49 | €2,464 | €2,435 | -€30 | -1.2% |
| Amounts payable within one year | 42/48 | €1,657 | €1,980 | +€323 | +19.5% |
| Trade debts | 44 | €0 | €27 | +€27 | |
| Suppliers | 440/4 | €0 | €27 | +€27 | |
| Taxes, remuneration and social security | 45 | €1,657 | €1,498 | -€158 | -9.6% |
| Taxes | 450/3 | €1,657 | €1,498 | -€158 | -9.6% |
| Other amounts payable | 47/48 | - | €454 | +€454 | |
| Accrued charges and deferred income | 492/3 | €808 | €455 | -€353 | -43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,430 | €14,575 | +€1,146 | +8.5% |
| Other operating charges | 640/8 | €1,916 | €2,198 | +€282 | +14.7% |
| Gross operating margin | 9900 | €27,982 | €30,379 | +€2,397 | +8.6% |
| Operating profit (loss) | 9901 | €12,637 | €13,606 | +€970 | +7.7% |
| Financial charges | 65/66B | €134 | €40 | -€93 | -69.8% |
| Recurring financial charges | 65 | €134 | €40 | -€93 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | €12,503 | €13,566 | +€1,063 | +8.5% |
| Income taxes | 67/77 | €841 | €3,336 | +€2,496 | +296.9% |
| Profit (loss) for the period | 9904 | €11,663 | €10,230 | -€1,433 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,663 | €10,230 | -€1,433 | -12.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.