KARO-LO: 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.
KARO-LO
Largest movements
- Receivables within one year +€1.0m
up €1.0m (+315%), from €331,376 to €1.4m
of which Trade receivables: +€911,790
- Tangible fixed assets +€235,903
up €235,903 (+210%), from €112,083 to €347,986
of which Leasing and similar rights: +€176,516
- Cash +€120,680
up €120,680 (+148%), from €81,715 to €202,396
mainly Trade debts (+€1.1m) and Net result for the year (+€208,784)
- Stocks and contracts +€112,230
up €112,230 (+4,775%), from €2,350 to €114,580
- Deferred charges and accrued income -€26,648
down €26,648 (-94.9%), from €28,087 to €1,439
- Trade debts +€1.1m
up €1.1m (+448%), from €241,300 to €1.3m
- Reserves +€208,784
up €208,784 (+139%), from €150,165 to €358,949
- Accrued charges and deferred income +€170,765
up €170,765 (+1,162%), from €14,700 to €185,465
- Debts after one year +€119,777
new in 2025: €119,777
- Other debts -€67,750
down €67,750 (-100%), from €67,750 to €0
- Gross operating margin +€63,004
up €63,004 (+27.7%), from €227,258 to €290,262
- Depreciation +€9,096
up €9,096 (+151%), from €6,007 to €15,104
- Taxes -€7,371
down €7,371 (-10.5%), from €69,932 to €62,561
- Financial charges +€3,219
up €3,219 (+12,622%), from €26 to €3,244
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 | €555,611 | €2,043,320 | +€1.5m | +268% |
| Fixed assets | 21/28 | €112,083 | €349,246 | +€237,163 | +212% |
| Tangible fixed assets | 22/27 | €112,083 | €347,986 | +€235,903 | +210% |
| Land and buildings | 22 | €112,083 | €109,103 | -€2,980 | -2.7% |
| Plant, machinery and equipment | 23 | - | €26,954 | +€26,954 | |
| Furniture and vehicles | 24 | - | €35,413 | +€35,413 | |
| Leasing and similar rights | 25 | - | €176,516 | +€176,516 | |
| Financial fixed assets | 28 | - | €1,260 | +€1,260 | |
| Current assets | 29/58 | €443,528 | €1,694,074 | +€1.3m | +282% |
| Stocks and contracts in progress | 3 | €2,350 | €114,580 | +€112,230 | +4,775% |
| Stocks | 30/36 | €2,350 | €114,580 | +€112,230 | +4,775% |
| Amounts receivable within one year | 40/41 | €331,376 | €1,375,660 | +€1.0m | +315% |
| Trade receivables | 40 | €331,376 | €1,243,165 | +€911,790 | +275% |
| Other amounts receivable | 41 | - | €132,494 | +€132,494 | |
| Cash at bank and in hand | 54/58 | €81,715 | €202,396 | +€120,680 | +148% |
| Deferred charges and accrued income | 490/1 | €28,087 | €1,439 | -€26,648 | -94.9% |
| Total equity and liabilities | 10/49 | €555,611 | €2,043,320 | +€1.5m | +268% |
| Equity | 10/15 | €155,165 | €363,949 | +€208,784 | +135% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €150,165 | €358,949 | +€208,784 | +139% |
| Distributable reserves | 133 | €150,165 | €358,949 | +€208,784 | +139% |
| Amounts payable | 17/49 | €400,447 | €1,679,371 | +€1.3m | +319% |
| Amounts payable after more than one year | 17 | - | €119,777 | +€119,777 | |
| Financial debts | 170/4 | - | €119,777 | +€119,777 | |
| Amounts payable within one year | 42/48 | €385,747 | €1,374,129 | +€988,382 | +256% |
| Current portion of amounts payable after more than one year | 42 | - | €38,872 | +€38,872 | |
| Trade debts | 44 | €241,300 | €1,322,651 | +€1.1m | +448% |
| Suppliers | 440/4 | €241,300 | €1,322,651 | +€1.1m | +448% |
| Taxes, remuneration and social security | 45 | €76,697 | €12,606 | -€64,091 | -83.6% |
| Taxes | 450/3 | €76,697 | €12,606 | -€64,091 | -83.6% |
| Other amounts payable | 47/48 | €67,750 | €0 | -€67,750 | -100% |
| Accrued charges and deferred income | 492/3 | €14,700 | €185,465 | +€170,765 | +1,162% |
| Remuneration, social security and pensions | 62 | €98 | €163 | +€65 | +66.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,007 | €15,104 | +€9,096 | +151% |
| Other operating charges | 640/8 | €1,030 | €601 | -€429 | -41.7% |
| Gross operating margin | 9900 | €227,258 | €290,262 | +€63,004 | +27.7% |
| Operating profit (loss) | 9901 | €220,122 | €274,394 | +€54,272 | +24.7% |
| Financial income | 75/76B | - | €195 | +€195 | |
| Recurring financial income | 75 | - | €195 | +€195 | |
| Financial charges | 65/66B | €26 | €3,244 | +€3,219 | +12,622% |
| Recurring financial charges | 65 | €26 | €3,244 | +€3,219 | +12,622% |
| Profit (loss) for the period before taxes | 9903 | €220,097 | €271,345 | +€51,248 | +23.3% |
| Income taxes | 67/77 | €69,932 | €62,561 | -€7,371 | -10.5% |
| Profit (loss) for the period | 9904 | €150,165 | €208,784 | +€58,620 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €150,165 | €208,784 | +€58,620 | +39.0% |
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 14 October 2026 via checked.be.