KARSTYLE: 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.
KARSTYLE
Largest movements
- Cash +€16,692
up €16,692 (+27.1%), from €61,633 to €78,325
mainly Trade debts (+€29,785) and Tax, wage and social debts (+€19,332)
- Intangible fixed assets +€13,870
up €13,870, from €0 to €13,870
- Stocks and contracts -€13,297
down €13,297 (-35.0%), from €37,949 to €24,653
- Tangible fixed assets +€9,516
up €9,516 (+38.9%), from €24,459 to €33,975
of which Furniture and vehicles: +€14,102
- Receivables within one year +€7,728
up €7,728 (+40.3%), from €19,193 to €26,921
of which Other amounts receivable: +€13,216
- Trade debts +€29,785
up €29,785 (+52.5%), from €56,722 to €86,507
- Current portion of long-term debt -€19,477
down €19,477 (-60.6%), from €32,128 to €12,651
- Tax, wage and social debts +€19,332
up €19,332 (+103%), from €18,686 to €38,017
of which Remuneration and social security: +€26,303
- Profit (loss) carried forward +€10,134
up €10,134 (+4,113%), from €246 to €10,381
- Debts after one year -€6,170
down €6,170 (-54.5%), from €11,329 to €5,159
- Staff costs +€46,483
up €46,483 (+19.1%), from €243,251 to €289,734
- Gross operating margin +€21,228
up €21,228 (+7.1%), from €299,944 to €321,172
- Financial income +€5,388
up €5,388 (+3,542%), from €152 to €5,540
of which Non-recurring financial income: +€5,430
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 | €150,658 | €179,858 | +€29,200 | +19.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €24,947 | €48,490 | +€23,544 | +94.4% |
| Intangible fixed assets | 21 | €0 | €13,870 | +€13,870 | |
| Tangible fixed assets | 22/27 | €24,459 | €33,975 | +€9,516 | +38.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €22,048 | €17,462 | -€4,586 | -20.8% |
| Furniture and vehicles | 24 | €2,411 | €16,513 | +€14,102 | +585% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €488 | €646 | +€158 | +32.3% |
| Current assets | 29/58 | €125,712 | €131,368 | +€5,656 | +4.5% |
| Stocks and contracts in progress | 3 | €37,949 | €24,653 | -€13,297 | -35.0% |
| Stocks | 30/36 | €37,949 | €24,653 | -€13,297 | -35.0% |
| Amounts receivable within one year | 40/41 | €19,193 | €26,921 | +€7,728 | +40.3% |
| Trade receivables | 40 | €18,464 | €12,976 | -€5,488 | -29.7% |
| Other amounts receivable | 41 | €729 | €13,945 | +€13,216 | +1,813% |
| Cash at bank and in hand | 54/58 | €61,633 | €78,325 | +€16,692 | +27.1% |
| Deferred charges and accrued income | 490/1 | €6,937 | €1,470 | -€5,467 | -78.8% |
| Total equity and liabilities | 10/49 | €150,658 | €179,858 | +€29,200 | +19.4% |
| Equity | 10/15 | €26,984 | €37,118 | +€10,134 | +37.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €8,145 | €8,145 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,286 | €6,286 | = | 0.0% |
| Profit (loss) carried forward | 14 | €246 | €10,381 | +€10,134 | +4,113% |
| Amounts payable | 17/49 | €123,675 | €142,740 | +€19,065 | +15.4% |
| Amounts payable after more than one year | 17 | €11,329 | €5,159 | -€6,170 | -54.5% |
| Financial debts | 170/4 | €11,329 | €5,159 | -€6,170 | -54.5% |
| Amounts payable within one year | 42/48 | €112,345 | €137,581 | +€25,236 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €32,128 | €12,651 | -€19,477 | -60.6% |
| Trade debts | 44 | €56,722 | €86,507 | +€29,785 | +52.5% |
| Suppliers | 440/4 | €56,722 | €86,507 | +€29,785 | +52.5% |
| Advances received on contracts in progress | 46 | - | €405 | +€405 | |
| Taxes, remuneration and social security | 45 | €18,686 | €38,017 | +€19,332 | +103% |
| Taxes | 450/3 | €11,135 | €4,164 | -€6,971 | -62.6% |
| Remuneration and social security | 454/9 | €7,551 | €33,854 | +€26,303 | +348% |
| Other amounts payable | 47/48 | €4,809 | €0 | -€4,809 | -100% |
| Remuneration, social security and pensions | 62 | €243,251 | €289,734 | +€46,483 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,623 | €8,348 | -€1,275 | -13.3% |
| Other operating charges | 640/8 | €6,442 | €9,083 | +€2,641 | +41.0% |
| Gross operating margin | 9900 | €299,944 | €321,172 | +€21,228 | +7.1% |
| Operating profit (loss) | 9901 | €40,628 | €14,008 | -€26,620 | -65.5% |
| Financial income | 75/76B | €152 | €5,540 | +€5,388 | +3,542% |
| Recurring financial income | 75 | €152 | €111 | -€42 | -27.3% |
| Non-recurring financial income | 76B | - | €5,430 | +€5,430 | |
| Financial charges | 65/66B | €3,319 | €2,263 | -€1,057 | -31.8% |
| Recurring financial charges | 65 | €3,183 | €2,263 | -€920 | -28.9% |
| Non-recurring financial charges | 66B | €136 | €0 | -€136 | -100% |
| Profit (loss) for the period before taxes | 9903 | €37,461 | €17,286 | -€20,175 | -53.9% |
| Income taxes | 67/77 | €10,343 | €7,151 | -€3,191 | -30.9% |
| Profit (loss) for the period | 9904 | €27,119 | €10,134 | -€16,984 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,119 | €10,134 | -€16,984 | -62.6% |
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 22 October 2026 via checked.be.