KAROSHI: 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.
KAROSHI
Largest movements
- Cash +€100,003
up €100,003 (+479.7%), from €20,846 to €120,849
mainly Net result for the year (+€91,095) and Depreciation (+€67,568)
- Tangible fixed assets +€17,734
up €17,734 (+3.1%), from €565,483 to €583,217
of which Furniture and vehicles: +€26,553
- Stocks and contracts -€11,858
down €11,858 (-31.4%), from €37,761 to €25,903
of which Contracts in progress: -€7,527
- Reserves +€91,095
up €91,095 (+29.5%), from €308,705 to €399,800
of which Tax-exempt reserves: +€64,203
- Other debts +€15,250
new in 2024: €15,250
- Tax, wage and social debts +€8,247
up €8,247 (+14.4%), from €57,180 to €65,426
of which Taxes: +€6,569
- Staff costs +€15,118
up €15,118 (+8.9%), from €170,572 to €185,690
- Depreciation +€13,354
up €13,354 (+24.6%), from €54,214 to €67,568
- Taxes -€12,384
down €12,384 (-26.8%), from €46,263 to €33,879
- Gross operating margin +€5,327
up €5,327 (+1.4%), from €379,817 to €385,144
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €697,816 | €808,213 | +€110,397 | +15.8% |
| Fixed assets | 21/28 | €584,563 | €602,297 | +€17,734 | +3.0% |
| Tangible fixed assets | 22/27 | €565,483 | €583,217 | +€17,734 | +3.1% |
| Land and buildings | 22 | €472,609 | €475,978 | +€3,369 | +0.7% |
| Plant, machinery and equipment | 23 | €23,975 | €24,341 | +€366 | +1.5% |
| Furniture and vehicles | 24 | €14,072 | €40,625 | +€26,553 | +188.7% |
| Leasing and similar rights | 25 | €54,827 | €42,273 | -€12,555 | -22.9% |
| Financial fixed assets | 28 | €19,080 | €19,080 | = | 0.0% |
| Current assets | 29/58 | €113,252 | €205,916 | +€92,664 | +81.8% |
| Stocks and contracts in progress | 3 | €37,761 | €25,903 | -€11,858 | -31.4% |
| Stocks | 30/36 | €8,652 | €4,322 | -€4,331 | -50.1% |
| Contracts in progress | 37 | €29,109 | €21,582 | -€7,527 | -25.9% |
| Amounts receivable within one year | 40/41 | €46,972 | €52,998 | +€6,025 | +12.8% |
| Trade receivables | 40 | €39,988 | €24,140 | -€15,848 | -39.6% |
| Other amounts receivable | 41 | €6,984 | €28,858 | +€21,873 | +313.2% |
| Cash at bank and in hand | 54/58 | €20,846 | €120,849 | +€100,003 | +479.7% |
| Deferred charges and accrued income | 490/1 | €7,673 | €6,166 | -€1,507 | -19.6% |
| Total equity and liabilities | 10/49 | €697,816 | €808,213 | +€110,397 | +15.8% |
| Equity | 10/15 | €327,305 | €418,400 | +€91,095 | +27.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €308,705 | €399,800 | +€91,095 | +29.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | - | €64,203 | +€64,203 | |
| Distributable reserves | 133 | €308,705 | €335,598 | +€26,893 | +8.7% |
| Amounts payable | 17/49 | €370,510 | €389,812 | +€19,302 | +5.2% |
| Amounts payable after more than one year | 17 | €187,780 | €186,235 | -€1,545 | -0.8% |
| Financial debts | 170/4 | €187,780 | €186,235 | -€1,545 | -0.8% |
| Amounts payable within one year | 42/48 | €182,730 | €203,577 | +€20,847 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €53,198 | €45,460 | -€7,738 | -14.5% |
| Trade debts | 44 | €72,353 | €77,441 | +€5,089 | +7.0% |
| Suppliers | 440/4 | €72,353 | €77,441 | +€5,089 | +7.0% |
| Taxes, remuneration and social security | 45 | €57,180 | €65,426 | +€8,247 | +14.4% |
| Taxes | 450/3 | €27,329 | €33,898 | +€6,569 | +24.0% |
| Remuneration and social security | 454/9 | €29,851 | €31,528 | +€1,677 | +5.6% |
| Other amounts payable | 47/48 | - | €15,250 | +€15,250 | |
| Remuneration, social security and pensions | 62 | €170,572 | €185,690 | +€15,118 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,214 | €67,568 | +€13,354 | +24.6% |
| Other operating charges | 640/8 | €2,525 | €2,482 | -€43 | -1.7% |
| Gross operating margin | 9900 | €379,817 | €385,144 | +€5,327 | +1.4% |
| Operating profit (loss) | 9901 | €152,506 | €129,404 | -€23,102 | -15.1% |
| Financial income | 75/76B | €4,656 | €4,301 | -€355 | -7.6% |
| Recurring financial income | 75 | €3,830 | €4,301 | +€471 | +12.3% |
| Non-recurring financial income | 76B | €826 | €0 | -€826 | -100.0% |
| Financial charges | 65/66B | €10,323 | €8,731 | -€1,593 | -15.4% |
| Recurring financial charges | 65 | €10,323 | €8,731 | -€1,593 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €146,839 | €124,974 | -€21,865 | -14.9% |
| Income taxes | 67/77 | €46,263 | €33,879 | -€12,384 | -26.8% |
| Profit (loss) for the period | 9904 | €100,575 | €91,095 | -€9,480 | -9.4% |
| Transfer to tax-exempt reserves | 689 | - | €64,203 | +€64,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €100,575 | €26,893 | -€73,683 | -73.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.