KARPOS: 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.
What changed
KARPOS
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€65,983
2024 · -€74,620+€8,637
Equity
€1.7m
2024 · €1.7m-€66,346
Cash
-
2024 · €0
Balance sheet total
€2.8m
2024 · €2.9m-€122,834
Largest movements
Assets
- Tangible fixed assets -€125,634
down €125,634 (-4.3%), from €2.9m to €2.8m
of which Land and buildings: -€115,258
Equity and liabilities
- Reserves -€66,346
down €66,346 (-5.0%), from €1.3m to €1.3m
of which Tax-exempt reserves: -€69,072
- Debts after one year -€37,835
down €37,835 (-7.9%), from €476,956 to €439,121
Income statement
- Gross operating margin +€13,416
up €13,416 (+26.5%), from €50,563 to €63,979
- Other operating charges +€6,778
up €6,778 (+86.5%), from €7,840 to €14,618
- Depreciation -€4,929
down €4,929 (-3.8%), from €130,563 to €125,634
- Taxes +€2,326
up €2,326 (+7516.3%), from €31 to €2,357
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.
Result 2024
-€74,620
Gross operating margin
+€13,416
Depreciation
+€4,929
Other operating charges
-€6,778
Financial income
+€0
Financial charges
+€244
Taxes
-€2,326
Deferred taxes and other
-€847
Result 2025
-€65,983
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.
From operations
+€33,036
Investment
€0
Financing
-€33,036
Cash 2024
€0
From operations (derived)
+€33,036
Net result for the year
-€65,983
Depreciation
+€125,634
Receivables within one year
-€2,000
Deferred charges and accrued income
-€800
Provisions
-€23,024
Trade debts
+€660
Tax, wage and social debts
+€698
Other debts
-€3,775
Accrued charges and deferred income
+€1,625
Financing
-€33,036
Debts after one year
-€37,835
Current portion of long-term debt
+€770
Short-term financial debts
+€4,392
Contributions, distributions and other
-€363
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,893,828 | €2,770,993 | -€122,834 | -4.2% |
| Fixed assets | 21/28 | €2,893,828 | €2,768,193 | -€125,634 | -4.3% |
| Tangible fixed assets | 22/27 | €2,893,828 | €2,768,193 | -€125,634 | -4.3% |
| Land and buildings | 22 | €2,849,476 | €2,734,218 | -€115,258 | -4.0% |
| Plant, machinery and equipment | 23 | €5,694 | €3,515 | -€2,179 | -38.3% |
| Furniture and vehicles | 24 | €33,458 | €25,260 | -€8,198 | -24.5% |
| Other tangible fixed assets | 26 | €5,200 | €5,200 | = | 0.0% |
| Current assets | 29/58 | €0 | €2,800 | +€2,800 | |
| Amounts receivable within one year | 40/41 | €0 | €2,000 | +€2,000 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €0 | €800 | +€800 | |
| Total equity and liabilities | 10/49 | €2,893,828 | €2,770,993 | -€122,834 | -4.2% |
| Equity | 10/15 | €1,740,304 | €1,673,958 | -€66,346 | -3.8% |
| Contributions | 10/11 | €422,000 | €422,000 | = | 0.0% |
| Reserves | 13 | €1,318,304 | €1,251,958 | -€66,346 | -5.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,147,015 | €1,077,943 | -€69,072 | -6.0% |
| Distributable reserves | 133 | €171,288 | €174,014 | +€2,726 | +1.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €382,338 | €359,315 | -€23,024 | -6.0% |
| Deferred taxes | 168 | €382,338 | €359,315 | -€23,024 | -6.0% |
| Amounts payable | 17/49 | €771,186 | €737,721 | -€33,465 | -4.3% |
| Amounts payable after more than one year | 17 | €476,956 | €439,121 | -€37,835 | -7.9% |
| Financial debts | 170/4 | €476,956 | €439,121 | -€37,835 | -7.9% |
| Amounts payable within one year | 42/48 | €294,230 | €296,975 | +€2,745 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €37,065 | €37,835 | +€770 | +2.1% |
| Financial debts | 43 | €4,128 | €8,520 | +€4,392 | +106.4% |
| Credit institutions | 430/8 | €4,128 | €8,520 | +€4,392 | +106.4% |
| Trade debts | 44 | €0 | €660 | +€660 | |
| Suppliers | 440/4 | €0 | €660 | +€660 | |
| Taxes, remuneration and social security | 45 | €1,685 | €2,383 | +€698 | +41.4% |
| Taxes | 450/3 | €1,685 | €2,383 | +€698 | +41.4% |
| Other amounts payable | 47/48 | €251,352 | €247,577 | -€3,775 | -1.5% |
| Accrued charges and deferred income | 492/3 | €0 | €1,625 | +€1,625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,563 | €125,634 | -€4,929 | -3.8% |
| Other operating charges | 640/8 | €7,840 | €14,618 | +€6,778 | +86.5% |
| Gross operating margin | 9900 | €50,563 | €63,979 | +€13,416 | +26.5% |
| Operating profit (loss) | 9901 | -€87,840 | -€76,273 | +€11,567 | +13.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €10,620 | €10,376 | -€244 | -2.3% |
| Recurring financial charges | 65 | €10,620 | €10,376 | -€244 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€98,460 | -€86,650 | +€11,811 | +12.0% |
| Transfer from deferred taxes | 780 | €23,871 | €23,024 | -€847 | -3.5% |
| Income taxes | 67/77 | €31 | €2,357 | +€2,326 | +7516.3% |
| Profit (loss) for the period | 9904 | -€74,620 | -€65,983 | +€8,637 | +11.6% |
| Transfer from tax-exempt reserves | 789 | €71,614 | €69,072 | -€2,542 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,006 | €3,089 | +€6,095 |
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 7 October 2026 via checked.be.