KAROLINA: 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.
KAROLINA
Largest movements
- Cash -€116,140
down €116,140 (-88.7%), from €130,941 to €14,801
mainly Other debts (-€125,291) and Receivables within one year (-€12,895)
- Receivables within one year +€12,895
up €12,895 (+835%), from €1,544 to €14,439
of which Trade receivables: +€13,615
- Tangible fixed assets -€10,321
down €10,321 (-3.1%), from €330,977 to €320,656
- Other debts -€125,291
down €125,291 (-38.5%), from €325,291 to €200,000
- Reserves +€5,185
up €5,185 (+6.8%), from €76,040 to €81,225
of which Distributable reserves: +€5,185
- Trade debts +€4,797
up €4,797 (+760%), from €631 to €5,428
- Gross operating margin +€3,300
up €3,300 (+16.9%), from €19,501 to €22,801
- Taxes +€1,676
new in 2025: €1,676
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 | €463,462 | €350,100 | -€113,362 | -24.5% |
| Fixed assets | 21/28 | €330,977 | €320,656 | -€10,321 | -3.1% |
| Tangible fixed assets | 22/27 | €330,977 | €320,656 | -€10,321 | -3.1% |
| Land and buildings | 22 | €330,977 | €320,656 | -€10,321 | -3.1% |
| Current assets | 29/58 | €132,485 | €29,444 | -€103,041 | -77.8% |
| Amounts receivable within one year | 40/41 | €1,544 | €14,439 | +€12,895 | +835% |
| Trade receivables | 40 | - | €13,615 | +€13,615 | |
| Other amounts receivable | 41 | €1,544 | €824 | -€720 | -46.6% |
| Cash at bank and in hand | 54/58 | €130,941 | €14,801 | -€116,140 | -88.7% |
| Deferred charges and accrued income | 490/1 | - | €204 | +€204 | |
| Total equity and liabilities | 10/49 | €463,462 | €350,100 | -€113,362 | -24.5% |
| Equity | 10/15 | €137,540 | €142,725 | +€5,185 | +3.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €76,040 | €81,225 | +€5,185 | +6.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €69,890 | €75,075 | +€5,185 | +7.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €325,922 | €207,375 | -€118,547 | -36.4% |
| Amounts payable within one year | 42/48 | €325,922 | €207,375 | -€118,547 | -36.4% |
| Trade debts | 44 | €631 | €5,428 | +€4,797 | +760% |
| Suppliers | 440/4 | €631 | €5,428 | +€4,797 | +760% |
| Taxes, remuneration and social security | 45 | - | €1,946 | +€1,946 | |
| Taxes | 450/3 | - | €1,946 | +€1,946 | |
| Other amounts payable | 47/48 | €325,291 | €200,000 | -€125,291 | -38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,321 | €10,321 | +€0 | 0.0% |
| Other operating charges | 640/8 | €5,345 | €5,512 | +€166 | +3.1% |
| Gross operating margin | 9900 | €19,501 | €22,801 | +€3,300 | +16.9% |
| Operating profit (loss) | 9901 | €3,835 | €6,968 | +€3,133 | +81.7% |
| Financial charges | 65/66B | €53 | €107 | +€54 | +103% |
| Recurring financial charges | 65 | €53 | €107 | +€54 | +103% |
| Profit (loss) for the period before taxes | 9903 | €3,782 | €6,861 | +€3,079 | +81.4% |
| Income taxes | 67/77 | - | €1,676 | +€1,676 | |
| Profit (loss) for the period | 9904 | €3,782 | €5,185 | +€1,403 | +37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,782 | €5,185 | +€1,403 | +37.1% |
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 14 October 2026 via checked.be.