KARO: what changed
What changed
KARO
NACE 13.921, Manufacture of textiles
filed annual accounts (NBB)
Net result for the year
€40,406
2024 · -€13,748+€54,154
Equity
€184,569
2024 · €144,163+€40,406
Cash
€65,302
2024 · €33,017+€32,286
Balance sheet total
€297,711
2024 · €303,837-€6,126
Largest movements
Assets
- Cash +€32,286
up €32,286 (+97.8%), from €33,017 to €65,302
mainly Net result for the year (+€40,406) and Depreciation (+€23,697)
- Tangible fixed assets -€21,503
down €21,503 (-13.6%), from €158,369 to €136,866
of which Land and buildings: -€14,412
- Current investments -€15,979
down €15,979 (-57.6%), from €27,754 to €11,775
- Stocks and contracts -€4,782
down €4,782 (-23.1%), from €20,711 to €15,929
- Receivables within one year +€4,315
up €4,315 (+7.2%), from €59,818 to €64,132
of which Trade receivables: +€5,238
Equity and liabilities
- Reserves +€26,658
up €26,658 (+28.3%), from €94,311 to €120,969
- Tax, wage and social debts -€20,432
down €20,432 (-42.0%), from €48,620 to €28,188
of which Taxes: -€10,283
- Debts after one year -€17,346
down €17,346 (-21.8%), from €79,718 to €62,372
- Profit (loss) carried forward +€13,748
up €13,748, from -€13,748 to €0
- Trade debts -€6,785
down €6,785 (-76.3%), from €8,892 to €2,108
Income statement
- Staff costs -€62,051
down €62,051 (-55.7%), from €111,502 to €49,451
- Taxes +€15,540
up €15,540 (+1,942%), from €800 to €16,340
- Gross operating margin +€7,837
up €7,837 (+6.0%), from €131,480 to €139,317
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€13,748
Gross operating margin
+€7,837
Staff costs
+€62,051
Depreciation
-€144
Other operating charges
+€244
Other operating items
+€696
Financial income
-€1,258
Financial charges
+€268
Taxes
-€15,540
Result 2025
€40,406
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€35,589
Investment
+€13,785
Financing
-€17,088
Cash 2024
€33,017
From operations (derived)
+€35,589
Net result for the year
+€40,406
Depreciation
+€23,697
Stocks and contracts
+€4,782
Receivables within one year
-€4,315
Deferred charges and accrued income
+€463
Trade debts
-€6,785
Tax, wage and social debts
-€20,432
Other debts
-€2,227
Investment (derived)
+€13,785
Investment in fixed assets (net)
-€2,194
Current investments
+€15,979
Financing
-€17,088
Debts after one year
-€17,346
Current portion of long-term debt
-€3,107
Short-term financial debts
+€3,365
Cash 2025
€65,302
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €303,837 | €297,711 | -€6,126 | -2.0% |
| Fixed assets | 21/28 | €158,801 | €137,298 | -€21,503 | -13.5% |
| Tangible fixed assets | 22/27 | €158,369 | €136,866 | -€21,503 | -13.6% |
| Land and buildings | 22 | €120,745 | €106,333 | -€14,412 | -11.9% |
| Plant, machinery and equipment | 23 | €6,540 | €3,212 | -€3,328 | -50.9% |
| Furniture and vehicles | 24 | €253 | €0 | -€253 | -100% |
| Other tangible fixed assets | 26 | €30,832 | €27,321 | -€3,511 | -11.4% |
| Financial fixed assets | 28 | €432 | €432 | = | 0.0% |
| Current assets | 29/58 | €145,036 | €160,413 | +€15,377 | +10.6% |
| Stocks and contracts in progress | 3 | €20,711 | €15,929 | -€4,782 | -23.1% |
| Stocks | 30/36 | €20,711 | €15,929 | -€4,782 | -23.1% |
| Amounts receivable within one year | 40/41 | €59,818 | €64,132 | +€4,315 | +7.2% |
| Trade receivables | 40 | €48,942 | €54,180 | +€5,238 | +10.7% |
| Other amounts receivable | 41 | €10,875 | €9,952 | -€923 | -8.5% |
| Current investments | 50/53 | €27,754 | €11,775 | -€15,979 | -57.6% |
| Cash at bank and in hand | 54/58 | €33,017 | €65,302 | +€32,286 | +97.8% |
| Deferred charges and accrued income | 490/1 | €3,737 | €3,275 | -€463 | -12.4% |
| Total equity and liabilities | 10/49 | €303,837 | €297,711 | -€6,126 | -2.0% |
| Equity | 10/15 | €144,163 | €184,569 | +€40,406 | +28.0% |
| Contributions | 10/11 | €63,600 | €63,600 | = | 0.0% |
| Reserves | 13 | €94,311 | €120,969 | +€26,658 | +28.3% |
| Distributable reserves | 133 | €94,311 | €120,969 | +€26,658 | +28.3% |
| Profit (loss) carried forward | 14 | -€13,748 | €0 | +€13,748 | |
| Amounts payable | 17/49 | €159,674 | €113,142 | -€46,532 | -29.1% |
| Amounts payable after more than one year | 17 | €79,718 | €62,372 | -€17,346 | -21.8% |
| Financial debts | 170/4 | €79,718 | €62,372 | -€17,346 | -21.8% |
| Amounts payable within one year | 42/48 | €79,956 | €50,770 | -€29,186 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €20,216 | €17,109 | -€3,107 | -15.4% |
| Financial debts | 43 | €0 | €3,365 | +€3,365 | |
| Other loans | 439 | €0 | €3,365 | +€3,365 | |
| Trade debts | 44 | €8,892 | €2,108 | -€6,785 | -76.3% |
| Suppliers | 440/4 | €8,892 | €2,108 | -€6,785 | -76.3% |
| Taxes, remuneration and social security | 45 | €48,620 | €28,188 | -€20,432 | -42.0% |
| Taxes | 450/3 | €29,754 | €19,471 | -€10,283 | -34.6% |
| Remuneration and social security | 454/9 | €18,866 | €8,717 | -€10,148 | -53.8% |
| Other amounts payable | 47/48 | €2,227 | €0 | -€2,227 | -100% |
| Non-recurring operating income | 76A | €3,500 | €41,375 | +€37,875 | +1,082% |
| Remuneration, social security and pensions | 62 | €111,502 | €49,451 | -€62,051 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,553 | €23,697 | +€144 | +0.6% |
| Other operating charges | 640/8 | €3,372 | €3,129 | -€244 | -7.2% |
| Non-recurring operating charges | 66A | €696 | €0 | -€696 | -100% |
| Gross operating margin | 9900 | €131,480 | €139,317 | +€7,837 | +6.0% |
| Operating profit (loss) | 9901 | -€7,644 | €63,040 | +€70,684 | |
| Financial income | 75/76B | €2,540 | €1,282 | -€1,258 | -49.5% |
| Recurring financial income | 75 | €2,540 | €1,282 | -€1,258 | -49.5% |
| Financial charges | 65/66B | €7,844 | €7,576 | -€268 | -3.4% |
| Recurring financial charges | 65 | €7,844 | €7,576 | -€268 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,948 | €56,746 | +€69,694 | |
| Income taxes | 67/77 | €800 | €16,340 | +€15,540 | +1,942% |
| Profit (loss) for the period | 9904 | -€13,748 | €40,406 | +€54,154 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,748 | €40,406 | +€54,154 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.