KARTIGA: 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.
KARTIGA
Largest movements
- Cash -€29,965
down €29,965 (-61.2%), from €48,989 to €19,024
mainly Debts after one year (-€33,059) and Net result for the year (-€23,138)
- Tangible fixed assets -€24,458
down €24,458 (-11.0%), from €221,520 to €197,062
of which Other tangible fixed assets: -€28,365
- Receivables within one year +€11,126
up €11,126 (+9.6%), from €115,387 to €126,512
of which Other amounts receivable: +€5,869
- Debts after one year -€33,059
down €33,059 (-30.9%), from €106,838 to €73,779
- Profit (loss) carried forward -€23,138
down €23,138 (-9.5%), from -€244,741 to -€267,879
- Other debts +€9,029
up €9,029 (+114.6%), from €7,877 to €16,905
- Gross operating margin +€26,183
up €26,183, from -€3,160 to €23,023
- Depreciation +€2,766
up €2,766 (+10.2%), from €27,203 to €29,969
- Financial charges +€2,334
up €2,334 (+20.9%), from €11,173 to €13,507
- Other operating charges -€2,173
down €2,173 (-45.8%), from €4,740 to €2,567
- Taxes -€283
down €283 (-69.9%), from €405 to €122
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 | €385,896 | €343,164 | -€42,732 | -11.1% |
| Fixed assets | 21/28 | €221,520 | €197,062 | -€24,458 | -11.0% |
| Tangible fixed assets | 22/27 | €221,520 | €197,062 | -€24,458 | -11.0% |
| Plant, machinery and equipment | 23 | €957 | €1,697 | +€740 | +77.4% |
| Furniture and vehicles | 24 | €6,062 | €9,229 | +€3,167 | +52.2% |
| Other tangible fixed assets | 26 | €214,501 | €186,137 | -€28,365 | -13.2% |
| Current assets | 29/58 | €164,376 | €146,102 | -€18,274 | -11.1% |
| Amounts receivable within one year | 40/41 | €115,387 | €126,512 | +€11,126 | +9.6% |
| Trade receivables | 40 | €115,387 | €120,643 | +€5,256 | +4.6% |
| Other amounts receivable | 41 | - | €5,869 | +€5,869 | |
| Cash at bank and in hand | 54/58 | €48,989 | €19,024 | -€29,965 | -61.2% |
| Deferred charges and accrued income | 490/1 | - | €565 | +€565 | |
| Total equity and liabilities | 10/49 | €385,896 | €343,164 | -€42,732 | -11.1% |
| Equity | 10/15 | €99,069 | €75,931 | -€23,138 | -23.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €331,410 | €331,410 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €310,800 | €310,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€244,741 | -€267,879 | -€23,138 | -9.5% |
| Amounts payable | 17/49 | €286,827 | €267,233 | -€19,594 | -6.8% |
| Amounts payable after more than one year | 17 | €106,838 | €73,779 | -€33,059 | -30.9% |
| Financial debts | 170/4 | €106,838 | €73,779 | -€33,059 | -30.9% |
| Amounts payable within one year | 42/48 | €179,009 | €191,311 | +€12,302 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €32,806 | €33,392 | +€586 | +1.8% |
| Trade debts | 44 | €133,848 | €132,999 | -€849 | -0.6% |
| Suppliers | 440/4 | €133,848 | €132,999 | -€849 | -0.6% |
| Taxes, remuneration and social security | 45 | €4,478 | €8,014 | +€3,535 | +78.9% |
| Taxes | 450/3 | €4,478 | €8,014 | +€3,535 | +78.9% |
| Other amounts payable | 47/48 | €7,877 | €16,905 | +€9,029 | +114.6% |
| Accrued charges and deferred income | 492/3 | €980 | €2,144 | +€1,164 | +118.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,203 | €29,969 | +€2,766 | +10.2% |
| Other operating charges | 640/8 | €4,740 | €2,567 | -€2,173 | -45.8% |
| Gross operating margin | 9900 | -€3,160 | €23,023 | +€26,183 | |
| Operating profit (loss) | 9901 | -€35,102 | -€9,513 | +€25,590 | +72.9% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €11,173 | €13,507 | +€2,334 | +20.9% |
| Recurring financial charges | 65 | €11,173 | €13,507 | +€2,334 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | -€46,275 | -€23,016 | +€23,259 | +50.3% |
| Income taxes | 67/77 | €405 | €122 | -€283 | -69.9% |
| Profit (loss) for the period | 9904 | -€46,680 | -€23,138 | +€23,542 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,680 | -€23,138 | +€23,542 | +50.4% |
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.