KAROTT: 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.
KAROTT
Largest movements
- Cash +€28,314
up €28,314 (+75.3%), from €37,587 to €65,901
mainly Net result for the year (+€220,476) and Other debts (+€65,251)
- Receivables within one year -€23,482
down €23,482 (-20.9%), from €112,435 to €88,952
of which Trade receivables: -€12,197
- Deferred charges and accrued income +€4,532
up €4,532 (+140.1%), from €3,234 to €7,766
- Tangible fixed assets -€3,425
down €3,425 (-74.6%), from €4,591 to €1,166
of which Other tangible fixed assets: -€2,936
- Trade debts -€247,279
down €247,279 (-87.8%), from €281,758 to €34,479
of which Suppliers: -€243,357
- Profit (loss) carried forward +€220,476
up €220,476 (+41.5%), from -€531,461 to -€310,985
- Current portion of long-term debt -€65,663
no longer reported in 2025 (was €65,663)
- Other debts +€65,251
up €65,251 (+326.3%), from €20,000 to €85,251
- Tax, wage and social debts +€27,398
up €27,398 (+396.0%), from €6,919 to €34,317
of which Taxes: +€31,036
- Staff costs -€219,105
no longer reported in 2025 (was €219,105)
- Gross operating margin +€104,850
up €104,850 (+90.5%), from €115,813 to €220,663
- Financial income +€6,363
up €6,363 (+6353.0%), from €100 to €6,463
- Financial charges -€3,640
down €3,640 (-52.6%), from €6,923 to €3,283
- Depreciation -€3,346
down €3,346 (-42.3%), from €7,903 to €4,557
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 | €166,247 | €172,185 | +€5,938 | +3.6% |
| Fixed assets | 21/28 | €12,991 | €9,566 | -€3,425 | -26.4% |
| Tangible fixed assets | 22/27 | €4,591 | €1,166 | -€3,425 | -74.6% |
| Furniture and vehicles | 24 | €1,655 | €1,166 | -€490 | -29.6% |
| Other tangible fixed assets | 26 | €2,936 | - | -€2,936 | |
| Financial fixed assets | 28 | €8,400 | €8,400 | = | 0.0% |
| Current assets | 29/58 | €153,256 | €162,619 | +€9,363 | +6.1% |
| Amounts receivable within one year | 40/41 | €112,435 | €88,952 | -€23,482 | -20.9% |
| Trade receivables | 40 | €99,591 | €87,393 | -€12,197 | -12.2% |
| Other amounts receivable | 41 | €12,844 | €1,559 | -€11,285 | -87.9% |
| Cash at bank and in hand | 54/58 | €37,587 | €65,901 | +€28,314 | +75.3% |
| Deferred charges and accrued income | 490/1 | €3,234 | €7,766 | +€4,532 | +140.1% |
| Total equity and liabilities | 10/49 | €166,247 | €172,185 | +€5,938 | +3.6% |
| Equity | 10/15 | -€208,093 | €12,383 | +€220,476 | |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Capital | 10 | €320,000 | €320,000 | = | 0.0% |
| Issued capital | 100 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €3,368 | €3,368 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,368 | €3,368 | = | 0.0% |
| Legal reserve | 130 | €3,368 | - | -€3,368 | |
| Reserves not available under the articles | 1311 | - | €3,368 | +€3,368 | |
| Profit (loss) carried forward | 14 | -€531,461 | -€310,985 | +€220,476 | +41.5% |
| Amounts payable | 17/49 | €374,340 | €159,802 | -€214,538 | -57.3% |
| Amounts payable within one year | 42/48 | €374,340 | €159,802 | -€214,538 | -57.3% |
| Current portion of amounts payable after more than one year | 42 | €65,663 | - | -€65,663 | |
| Financial debts | 43 | - | €5,755 | +€5,755 | |
| Credit institutions | 430/8 | - | €5,755 | +€5,755 | |
| Trade debts | 44 | €281,758 | €34,479 | -€247,279 | -87.8% |
| Suppliers | 440/4 | €277,836 | €34,479 | -€243,357 | -87.6% |
| Bills of exchange payable | 441 | €3,922 | - | -€3,922 | |
| Taxes, remuneration and social security | 45 | €6,919 | €34,317 | +€27,398 | +396.0% |
| Taxes | 450/3 | €3,281 | €34,317 | +€31,036 | +945.9% |
| Remuneration and social security | 454/9 | €3,638 | - | -€3,638 | |
| Other amounts payable | 47/48 | €20,000 | €85,251 | +€65,251 | +326.3% |
| Remuneration, social security and pensions | 62 | €219,105 | - | -€219,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,903 | €4,557 | -€3,346 | -42.3% |
| Other operating charges | 640/8 | €427 | €812 | +€385 | +90.4% |
| Gross operating margin | 9900 | €115,813 | €220,663 | +€104,850 | +90.5% |
| Operating profit (loss) | 9901 | -€111,621 | €215,294 | +€326,915 | |
| Financial income | 75/76B | €100 | €6,463 | +€6,363 | +6353.0% |
| Recurring financial income | 75 | €100 | €6,463 | +€6,363 | +6353.0% |
| Financial charges | 65/66B | €6,923 | €3,283 | -€3,640 | -52.6% |
| Recurring financial charges | 65 | €6,923 | €3,283 | -€3,640 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | -€118,444 | €218,473 | +€336,917 | |
| Income taxes | 67/77 | €236 | -€2,003 | -€2,239 | |
| Profit (loss) for the period | 9904 | -€118,680 | €220,476 | +€339,156 | |
| Profit (loss) for the period to be appropriated | 9905 | -€118,680 | €220,476 | +€339,156 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.