KARTEC: 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.
KARTEC
Largest movements
- Stocks and contracts +€5,056
up €5,056 (+22.1%), from €22,864 to €27,919
of which Contracts in progress: +€5,200
- Tangible fixed assets -€4,256
down €4,256 (-36.3%), from €11,717 to €7,461
- Cash -€2,304
down €2,304 (-32.2%), from €7,159 to €4,855
mainly Net result for the year (-€5,378) and Stocks and contracts (-€5,056)
- Receivables within one year -€2,014
down €2,014 (-33.6%), from €5,993 to €3,978
- Profit (loss) carried forward -€5,378
down €5,378 (-21.7%), from €24,728 to €19,350
- Other debts +€2,127
new in 2025: €2,127
- Trade debts -€602
down €602 (-34.5%), from €1,745 to €1,143
- Gross operating margin +€7,355
up €7,355 (+16.3%), from €45,082 to €52,437
- Staff costs +€2,990
up €2,990 (+6.4%), from €46,639 to €49,629
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 | €47,732 | €44,213 | -€3,519 | -7.4% |
| Fixed assets | 21/28 | €11,717 | €7,461 | -€4,256 | -36.3% |
| Tangible fixed assets | 22/27 | €11,717 | €7,461 | -€4,256 | -36.3% |
| Furniture and vehicles | 24 | €11,717 | €7,461 | -€4,256 | -36.3% |
| Current assets | 29/58 | €36,015 | €36,752 | +€737 | +2.0% |
| Stocks and contracts in progress | 3 | €22,864 | €27,919 | +€5,056 | +22.1% |
| Stocks | 30/36 | €12,564 | €12,419 | -€145 | -1.2% |
| Contracts in progress | 37 | €10,300 | €15,500 | +€5,200 | +50.5% |
| Amounts receivable within one year | 40/41 | €5,993 | €3,978 | -€2,014 | -33.6% |
| Other amounts receivable | 41 | €5,993 | €3,978 | -€2,014 | -33.6% |
| Cash at bank and in hand | 54/58 | €7,159 | €4,855 | -€2,304 | -32.2% |
| Total equity and liabilities | 10/49 | €47,732 | €44,213 | -€3,519 | -7.4% |
| Equity | 10/15 | €32,788 | €27,410 | -€5,378 | -16.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,728 | €19,350 | -€5,378 | -21.7% |
| Amounts payable | 17/49 | €14,945 | €16,803 | +€1,859 | +12.4% |
| Amounts payable within one year | 42/48 | €14,945 | €16,803 | +€1,859 | +12.4% |
| Trade debts | 44 | €1,745 | €1,143 | -€602 | -34.5% |
| Suppliers | 440/4 | €1,745 | €1,143 | -€602 | -34.5% |
| Taxes, remuneration and social security | 45 | €13,200 | €13,534 | +€334 | +2.5% |
| Taxes | 450/3 | €8,775 | €5,474 | -€3,301 | -37.6% |
| Remuneration and social security | 454/9 | €4,425 | €8,060 | +€3,634 | +82.1% |
| Other amounts payable | 47/48 | - | €2,127 | +€2,127 | |
| Remuneration, social security and pensions | 62 | €46,639 | €49,629 | +€2,990 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,060 | €4,256 | +€196 | +4.8% |
| Other operating charges | 640/8 | €589 | €629 | +€40 | +6.7% |
| Gross operating margin | 9900 | €45,082 | €52,437 | +€7,355 | +16.3% |
| Operating profit (loss) | 9901 | -€6,206 | -€2,077 | +€4,129 | +66.5% |
| Financial charges | 65/66B | €2,863 | €3,301 | +€438 | +15.3% |
| Recurring financial charges | 65 | €2,863 | €3,301 | +€438 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,069 | -€5,378 | +€3,691 | +40.7% |
| Profit (loss) for the period | 9904 | -€9,069 | -€5,378 | +€3,691 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,069 | -€5,378 | +€3,691 | +40.7% |
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 8 October 2026 via checked.be.