KARPAT: 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.
KARPAT
Largest movements
- Cash -€251,668
down €251,668 (-61.9%), from €406,418 to €154,750
mainly Receivables within one year (-€220,015) and Investment in fixed assets (net) (-€111,000)
- Receivables within one year +€220,015
up €220,015 (+98.9%), from €222,476 to €442,490
of which Other amounts receivable: +€243,520
- Deferred charges and accrued income +€67,052
up €67,052 (+13713.8%), from €489 to €67,541
- Reserves +€67,065
up €67,065 (+6.4%), from €1.1m to €1.1m
of which Distributable reserves: +€70,464
- Debts after one year -€55,019
down €55,019 (-29.6%), from €185,666 to €130,647
- Tax, wage and social debts +€54,835
up €54,835 (+345.3%), from €15,879 to €70,714
- Gross operating margin +€90,307
up €90,307 (+37.3%), from €242,146 to €332,452
- Taxes +€27,433
up €27,433 (+1463.3%), from €1,875 to €29,308
- Other operating charges -€8,440
down €8,440 (-37.0%), from €22,827 to €14,387
- Financial income -€6,873
down €6,873 (-99.9%), from €6,883 to €10
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 | €3,907,073 | €3,981,086 | +€74,013 | +1.9% |
| Fixed assets | 21/28 | €3,277,690 | €3,316,304 | +€38,615 | +1.2% |
| Tangible fixed assets | 22/27 | €3,277,390 | €3,316,004 | +€38,615 | +1.2% |
| Land and buildings | 22 | €3,277,310 | €3,316,004 | +€38,694 | +1.2% |
| Furniture and vehicles | 24 | €79 | - | -€79 | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €629,383 | €664,782 | +€35,399 | +5.6% |
| Amounts receivable within one year | 40/41 | €222,476 | €442,490 | +€220,015 | +98.9% |
| Trade receivables | 40 | €208,989 | €185,484 | -€23,505 | -11.2% |
| Other amounts receivable | 41 | €13,487 | €257,006 | +€243,520 | +1805.7% |
| Cash at bank and in hand | 54/58 | €406,418 | €154,750 | -€251,668 | -61.9% |
| Deferred charges and accrued income | 490/1 | €489 | €67,541 | +€67,052 | +13713.8% |
| Total equity and liabilities | 10/49 | €3,907,073 | €3,981,086 | +€74,013 | +1.9% |
| Equity | 10/15 | €1,227,021 | €1,294,086 | +€67,065 | +5.5% |
| Contributions | 10/11 | €173,904 | €173,904 | = | 0.0% |
| Capital | 10 | €173,904 | €173,904 | = | 0.0% |
| Issued capital | 100 | €173,904 | €173,904 | = | 0.0% |
| Reserves | 13 | €1,053,117 | €1,120,182 | +€67,065 | +6.4% |
| Non-distributable reserves | 130/1 | €57,907 | €57,907 | = | 0.0% |
| Legal reserve | 130 | €57,907 | €57,907 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,650 | €66,251 | -€3,399 | -4.9% |
| Distributable reserves | 133 | €925,561 | €996,025 | +€70,464 | +7.6% |
| Provisions and deferred taxes | 16 | €2,331,340 | €2,310,688 | -€20,652 | -0.9% |
| Provisions for liabilities and charges | 160/5 | €2,295,480 | €2,276,579 | -€18,901 | -0.8% |
| Other liabilities and charges | 164/5 | €2,295,480 | €2,276,579 | -€18,901 | -0.8% |
| Deferred taxes | 168 | €35,860 | €34,109 | -€1,751 | -4.9% |
| Amounts payable | 17/49 | €348,712 | €376,312 | +€27,600 | +7.9% |
| Amounts payable after more than one year | 17 | €185,666 | €130,647 | -€55,019 | -29.6% |
| Financial debts | 170/4 | €185,666 | €130,647 | -€55,019 | -29.6% |
| Amounts payable within one year | 42/48 | €163,046 | €245,665 | +€82,619 | +50.7% |
| Current portion of amounts payable after more than one year | 42 | €54,335 | €55,019 | +€683 | +1.3% |
| Trade debts | 44 | €1,074 | €710 | -€364 | -33.9% |
| Suppliers | 440/4 | €1,074 | €710 | -€364 | -33.9% |
| Taxes, remuneration and social security | 45 | €15,879 | €70,714 | +€54,835 | +345.3% |
| Taxes | 450/3 | €15,879 | €70,714 | +€54,835 | +345.3% |
| Other amounts payable | 47/48 | €91,758 | €119,222 | +€27,464 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,409 | €72,385 | -€3,024 | -4.0% |
| Other operating charges | 640/8 | €22,827 | €14,387 | -€8,440 | -37.0% |
| Non-recurring operating charges | 66A | €1,305 | €1,477 | +€172 | +13.2% |
| Gross operating margin | 9900 | €242,146 | €332,452 | +€90,307 | +37.3% |
| Operating profit (loss) | 9901 | €142,605 | €244,204 | +€101,599 | +71.2% |
| Financial income | 75/76B | €6,883 | €10 | -€6,873 | -99.9% |
| Recurring financial income | 75 | €6,883 | €10 | -€6,873 | -99.9% |
| Financial charges | 65/66B | €152,205 | €149,592 | -€2,614 | -1.7% |
| Recurring financial charges | 65 | €152,205 | €149,592 | -€2,614 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,718 | €94,622 | +€97,340 | |
| Transfer from deferred taxes | 780 | €1,751 | €1,751 | = | 0.0% |
| Income taxes | 67/77 | €1,875 | €29,308 | +€27,433 | +1463.3% |
| Profit (loss) for the period | 9904 | -€2,842 | €67,065 | +€69,907 | |
| Transfer from tax-exempt reserves | 789 | €3,399 | €3,399 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €557 | €70,464 | +€69,907 | +12546.6% |
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 11 October 2026 via checked.be.