KARSTE: 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.
KARSTE
Largest movements
- Cash +€86,715
up €86,715 (+212%), from €40,851 to €127,566
mainly Net result for the year (+€166,837) and Receivables within one year (+€74,733)
- Receivables within one year -€74,733
down €74,733 (-48.6%), from €153,741 to €79,008
of which Other amounts receivable: -€45,733
- Other debts +€49,945
up €49,945 (+854%), from €5,845 to €55,790
- Debts after one year -€42,157
down €42,157 (-42.4%), from €99,330 to €57,173
- Reserves +€28,590
up €28,590 (+2.5%), from €1.1m to €1.2m
- Current portion of long-term debt -€27,042
down €27,042 (-39.1%), from €69,199 to €42,157
- Gross operating margin +€2,678
up €2,678 (+1.0%), from €257,468 to €260,145
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.
Derived cash bridge
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 | €1,379,898 | €1,384,695 | +€4,797 | +0.3% |
| Fixed assets | 21/28 | €1,184,440 | €1,177,195 | -€7,245 | -0.6% |
| Tangible fixed assets | 22/27 | €36,585 | €29,340 | -€7,245 | -19.8% |
| Plant, machinery and equipment | 23 | - | €8,143 | +€8,143 | |
| Furniture and vehicles | 24 | €36,585 | €21,197 | -€15,388 | -42.1% |
| Financial fixed assets | 28 | €1,147,855 | €1,147,855 | = | 0.0% |
| Current assets | 29/58 | €195,458 | €207,500 | +€12,042 | +6.2% |
| Amounts receivable within one year | 40/41 | €153,741 | €79,008 | -€74,733 | -48.6% |
| Trade receivables | 40 | €108,000 | €79,000 | -€29,000 | -26.9% |
| Other amounts receivable | 41 | €45,741 | €8 | -€45,733 | -100.0% |
| Cash at bank and in hand | 54/58 | €40,851 | €127,566 | +€86,715 | +212% |
| Deferred charges and accrued income | 490/1 | €866 | €926 | +€60 | +6.9% |
| Total equity and liabilities | 10/49 | €1,379,898 | €1,384,695 | +€4,797 | +0.3% |
| Equity | 10/15 | €1,142,529 | €1,171,119 | +€28,590 | +2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,129,899 | €1,158,488 | +€28,590 | +2.5% |
| Distributable reserves | 133 | €1,129,899 | €1,158,488 | +€28,590 | +2.5% |
| Profit (loss) carried forward | 14 | €231 | €231 | = | 0.0% |
| Amounts payable | 17/49 | €237,369 | €213,576 | -€23,793 | -10.0% |
| Amounts payable after more than one year | 17 | €99,330 | €57,173 | -€42,157 | -42.4% |
| Financial debts | 170/4 | €99,330 | €57,173 | -€42,157 | -42.4% |
| Amounts payable within one year | 42/48 | €135,642 | €155,375 | +€19,732 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €69,199 | €42,157 | -€27,042 | -39.1% |
| Financial debts | 43 | €6,821 | €15,236 | +€8,415 | +123% |
| Credit institutions | 430/8 | €6,821 | €15,236 | +€8,415 | +123% |
| Trade debts | 44 | €512 | €799 | +€287 | +56.1% |
| Suppliers | 440/4 | €512 | €799 | +€287 | +56.1% |
| Taxes, remuneration and social security | 45 | €53,265 | €41,392 | -€11,872 | -22.3% |
| Taxes | 450/3 | €48,795 | €36,868 | -€11,927 | -24.4% |
| Remuneration and social security | 454/9 | €4,470 | €4,524 | +€55 | +1.2% |
| Other amounts payable | 47/48 | €5,845 | €55,790 | +€49,945 | +854% |
| Accrued charges and deferred income | 492/3 | €2,397 | €1,029 | -€1,368 | -57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,822 | €15,662 | +€841 | +5.7% |
| Other operating charges | 640/8 | €1,149 | €1,118 | -€30 | -2.6% |
| Gross operating margin | 9900 | €257,468 | €260,145 | +€2,678 | +1.0% |
| Operating profit (loss) | 9901 | €241,497 | €243,365 | +€1,867 | +0.8% |
| Financial income | 75/76B | €828 | €1,776 | +€948 | +114% |
| Recurring financial income | 75 | €828 | €1,776 | +€948 | +114% |
| Financial charges | 65/66B | €7,405 | €6,543 | -€862 | -11.6% |
| Recurring financial charges | 65 | €7,405 | €6,543 | -€862 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €234,921 | €238,598 | +€3,677 | +1.6% |
| Income taxes | 67/77 | €70,563 | €71,760 | +€1,197 | +1.7% |
| Profit (loss) for the period | 9904 | €164,358 | €166,837 | +€2,479 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €164,358 | €166,837 | +€2,479 | +1.5% |
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 17 October 2026 via checked.be.