KartCo: 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.
KartCo
Largest movements
- Current investments -€222,485
down €222,485 (-74.2%), from €300,000 to €77,515
- Contributions +€2.1m
up €2.1m (+172%), from €1.2m to €3.3m
- Current portion of long-term debt -€1.4m
down €1.4m (-78.7%), from €1.8m to €386,029
- Debts after one year -€930,207
down €930,207 (-100%), from €930,207 to €0
of which Financial debts: -€930,207
- Reserves +€222,047
up €222,047 (+9.0%), from €2.5m to €2.7m
of which Distributable reserves: +€444,532
- Other debts -€86,975
down €86,975 (-32.5%), from €267,525 to €180,550
- Financial income +€225,561
up €225,561 (+46,032,853%), from €0 to €225,561
- Financial charges -€38,470
down €38,470 (-51.3%), from €74,941 to €36,471
- Gross operating margin -€9,790
down €9,790 (-22.0%), from €44,404 to €34,614
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 | €6,696,462 | €6,521,618 | -€174,844 | -2.6% |
| Fixed assets | 21/28 | €6,375,000 | €6,375,000 | = | 0.0% |
| Financial fixed assets | 28 | €6,375,000 | €6,375,000 | = | 0.0% |
| Current assets | 29/58 | €321,462 | €146,618 | -€174,844 | -54.4% |
| Amounts receivable within one year | 40/41 | €15,000 | €62,050 | +€47,050 | +314% |
| Trade receivables | 40 | €0 | €35,650 | +€35,650 | |
| Other amounts receivable | 41 | €15,000 | €26,400 | +€11,400 | +76.0% |
| Current investments | 50/53 | €300,000 | €77,515 | -€222,485 | -74.2% |
| Cash at bank and in hand | 54/58 | €6,427 | €7,016 | +€589 | +9.2% |
| Deferred charges and accrued income | 490/1 | €35 | €36 | +€1 | +2.9% |
| Total equity and liabilities | 10/49 | €6,696,462 | €6,521,618 | -€174,844 | -2.6% |
| Equity | 10/15 | €3,653,786 | €5,944,999 | +€2.3m | +62.7% |
| Contributions | 10/11 | €1,200,000 | €3,269,166 | +€2.1m | +172% |
| Capital | 10 | €1,200,000 | €3,269,166 | +€2.1m | +172% |
| Issued capital | 100 | €1,200,000 | €3,269,166 | +€2.1m | +172% |
| Reserves | 13 | €2,453,786 | €2,675,833 | +€222,047 | +9.0% |
| Non-distributable reserves | 130/1 | €420,000 | €197,515 | -€222,485 | -53.0% |
| Legal reserve | 130 | €120,000 | €120,000 | = | 0.0% |
| Own shares acquired | 1312 | €300,000 | €77,515 | -€222,485 | -74.2% |
| Distributable reserves | 133 | €2,033,786 | €2,478,318 | +€444,532 | +21.9% |
| Amounts payable | 17/49 | €3,042,676 | €576,618 | -€2.5m | -81.0% |
| Amounts payable after more than one year | 17 | €930,207 | €0 | -€930,207 | -100% |
| Financial debts | 170/4 | €930,207 | €0 | -€930,207 | -100% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,108,699 | €574,280 | -€1.5m | -72.8% |
| Current portion of amounts payable after more than one year | 42 | €1,812,026 | €386,029 | -€1.4m | -78.7% |
| Trade debts | 44 | €26,420 | €1,487 | -€24,933 | -94.4% |
| Suppliers | 440/4 | €26,420 | €1,487 | -€24,933 | -94.4% |
| Taxes, remuneration and social security | 45 | €2,728 | €6,214 | +€3,486 | +128% |
| Taxes | 450/3 | €2,728 | €6,214 | +€3,486 | +128% |
| Other amounts payable | 47/48 | €267,525 | €180,550 | -€86,975 | -32.5% |
| Accrued charges and deferred income | 492/3 | €3,770 | €2,338 | -€1,432 | -38.0% |
| Other operating charges | 640/8 | €1,518 | €1,658 | +€140 | +9.2% |
| Gross operating margin | 9900 | €44,404 | €34,614 | -€9,790 | -22.0% |
| Operating profit (loss) | 9901 | €42,886 | €32,956 | -€9,930 | -23.2% |
| Financial income | 75/76B | €0 | €225,561 | +€225,561 | +46,032,853% |
| Recurring financial income | 75 | €0 | €225,561 | +€225,561 | +46,032,853% |
| Financial charges | 65/66B | €74,941 | €36,471 | -€38,470 | -51.3% |
| Recurring financial charges | 65 | €74,941 | €36,471 | -€38,470 | -51.3% |
| Profit (loss) for the period before taxes | 9903 | -€32,054 | €222,047 | +€254,101 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100% |
| Profit (loss) for the period | 9904 | -€32,054 | €222,047 | +€254,101 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,054 | €222,047 | +€254,101 |
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 13 October 2026 via checked.be.