Karose: 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.
Karose
Largest movements
- Current investments -€125,385
down €125,385 (-98.4%), from €127,467 to €2,082
- Receivables within one year -€122,900
down €122,900 (-64.7%), from €189,927 to €67,027
of which Other amounts receivable: -€147,000
- Cash -€90,336
down €90,336 (-81.4%), from €110,978 to €20,642
mainly Contributions, distributions and other (-€565,941) and Tax, wage and social debts (-€47,580)
- Receivables after one year -€43,529
down €43,529 (-57.6%), from €75,529 to €32,000
- Reserves -€369,542
down €369,542 (-97.0%), from €380,941 to €11,398
- Tax, wage and social debts -€47,580
down €47,580 (-40.4%), from €117,848 to €70,268
- Other debts +€34,628
new in 2025: €34,628
- Gross operating margin +€14,134
up €14,134 (+6.3%), from €224,887 to €239,021
- Financial income +€10,451
up €10,451 (+107.5%), from €9,725 to €20,176
- Taxes +€4,522
up €4,522 (+8.4%), from €53,927 to €58,449
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 | €504,970 | €123,876 | -€381,094 | -75.5% |
| Fixed assets | 21/28 | €208 | €2,009 | +€1,801 | +866.9% |
| Tangible fixed assets | 22/27 | €208 | €2,009 | +€1,801 | +866.9% |
| Furniture and vehicles | 24 | €208 | €2,009 | +€1,801 | +866.9% |
| Current assets | 29/58 | €504,762 | €121,867 | -€382,896 | -75.9% |
| Amounts receivable after more than one year | 29 | €75,529 | €32,000 | -€43,529 | -57.6% |
| Other amounts receivable | 291 | €75,529 | €32,000 | -€43,529 | -57.6% |
| Amounts receivable within one year | 40/41 | €189,927 | €67,027 | -€122,900 | -64.7% |
| Trade receivables | 40 | €41,047 | €65,147 | +€24,100 | +58.7% |
| Other amounts receivable | 41 | €148,880 | €1,880 | -€147,000 | -98.7% |
| Current investments | 50/53 | €127,467 | €2,082 | -€125,385 | -98.4% |
| Cash at bank and in hand | 54/58 | €110,978 | €20,642 | -€90,336 | -81.4% |
| Deferred charges and accrued income | 490/1 | €861 | €116 | -€745 | -86.5% |
| Total equity and liabilities | 10/49 | €504,970 | €123,876 | -€381,094 | -75.5% |
| Equity | 10/15 | €385,941 | €16,398 | -€369,542 | -95.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €380,941 | €11,398 | -€369,542 | -97.0% |
| Distributable reserves | 133 | €380,941 | €11,398 | -€369,542 | -97.0% |
| Amounts payable | 17/49 | €119,029 | €107,478 | -€11,552 | -9.7% |
| Amounts payable within one year | 42/48 | €119,029 | €107,477 | -€11,552 | -9.7% |
| Trade debts | 44 | €1,182 | €2,582 | +€1,400 | +118.5% |
| Suppliers | 440/4 | €1,182 | €2,582 | +€1,400 | +118.5% |
| Taxes, remuneration and social security | 45 | €117,848 | €70,268 | -€47,580 | -40.4% |
| Taxes | 450/3 | €117,848 | €70,268 | -€47,580 | -40.4% |
| Other amounts payable | 47/48 | - | €34,628 | +€34,628 | |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220 | €577 | +€357 | +162.2% |
| Other operating charges | 640/8 | €765 | €1,042 | +€276 | +36.1% |
| Gross operating margin | 9900 | €224,887 | €239,021 | +€14,134 | +6.3% |
| Operating profit (loss) | 9901 | €223,902 | €237,402 | +€13,500 | +6.0% |
| Financial income | 75/76B | €9,725 | €20,176 | +€10,451 | +107.5% |
| Recurring financial income | 75 | €9,725 | €20,176 | +€10,451 | +107.5% |
| Financial charges | 65/66B | €590 | €2,731 | +€2,140 | +362.5% |
| Recurring financial charges | 65 | €590 | €2,731 | +€2,140 | +362.5% |
| Profit (loss) for the period before taxes | 9903 | €233,036 | €254,847 | +€21,811 | +9.4% |
| Income taxes | 67/77 | €53,927 | €58,449 | +€4,522 | +8.4% |
| Profit (loss) for the period | 9904 | €179,109 | €196,398 | +€17,289 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €179,109 | €196,398 | +€17,289 | +9.7% |
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 9 October 2026 via checked.be.