KARU: 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.
KARU
Largest movements
- Cash +€18,818
up €18,818 (+60.9%), from €30,889 to €49,707
mainly Tax, wage and social debts (+€15,147) and Receivables within one year (+€11,668)
- Receivables within one year -€11,668
down €11,668 (-27.3%), from €42,803 to €31,135
- Tangible fixed assets +€9,793
up €9,793 (+311.9%), from €3,140 to €12,933
of which Plant, machinery and equipment: +€10,237
- Stocks and contracts +€2,937
up €2,937 (+13.0%), from €22,551 to €25,488
- Intangible fixed assets -€2,621
down €2,621 (-20.7%), from €12,631 to €10,010
- Tax, wage and social debts +€15,147
up €15,147 (+72.1%), from €20,995 to €36,142
of which Taxes: +€9,232
- Trade debts -€6,701
down €6,701 (-57.3%), from €11,693 to €4,992
- Reserves +€5,299
up €5,299 (+10.8%), from €48,975 to €54,274
- Current portion of long-term debt +€4,882
up €4,882 (+91.3%), from €5,345 to €10,227
- Gross operating margin -€7,832
down €7,832 (-24.4%), from €32,154 to €24,322
- Depreciation +€4,450
up €4,450 (+336.4%), from €1,323 to €5,772
- Taxes -€4,106
down €4,106 (-62.5%), from €6,570 to €2,464
- Other operating charges +€3,873
up €3,873 (+106.7%), from €3,629 to €7,502
- Financial charges +€598
up €598 (+21.1%), from €2,837 to €3,435
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 | €117,985 | €135,463 | +€17,477 | +14.8% |
| Fixed assets | 21/28 | €17,316 | €24,489 | +€7,172 | +41.4% |
| Intangible fixed assets | 21 | €12,631 | €10,010 | -€2,621 | -20.7% |
| Tangible fixed assets | 22/27 | €3,140 | €12,933 | +€9,793 | +311.9% |
| Plant, machinery and equipment | 23 | €1,930 | €12,166 | +€10,237 | +530.5% |
| Furniture and vehicles | 24 | €1,210 | €767 | -€443 | -36.6% |
| Financial fixed assets | 28 | €1,545 | €1,545 | = | 0.0% |
| Current assets | 29/58 | €100,669 | €110,974 | +€10,305 | +10.2% |
| Stocks and contracts in progress | 3 | €22,551 | €25,488 | +€2,937 | +13.0% |
| Stocks | 30/36 | €22,551 | €25,488 | +€2,937 | +13.0% |
| Amounts receivable within one year | 40/41 | €42,803 | €31,135 | -€11,668 | -27.3% |
| Trade receivables | 40 | €42,803 | €31,135 | -€11,668 | -27.3% |
| Cash at bank and in hand | 54/58 | €30,889 | €49,707 | +€18,818 | +60.9% |
| Deferred charges and accrued income | 490/1 | €4,426 | €4,644 | +€218 | +4.9% |
| Total equity and liabilities | 10/49 | €117,985 | €135,463 | +€17,477 | +14.8% |
| Equity | 10/15 | €53,975 | €59,274 | +€5,299 | +9.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €48,975 | €54,274 | +€5,299 | +10.8% |
| Distributable reserves | 133 | €48,975 | €54,274 | +€5,299 | +10.8% |
| Amounts payable | 17/49 | €64,010 | €76,188 | +€12,178 | +19.0% |
| Amounts payable after more than one year | 17 | €10,582 | €10,201 | -€381 | -3.6% |
| Financial debts | 170/4 | €10,582 | €10,201 | -€381 | -3.6% |
| Amounts payable within one year | 42/48 | €53,428 | €65,988 | +€12,559 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | €5,345 | €10,227 | +€4,882 | +91.3% |
| Trade debts | 44 | €11,693 | €4,992 | -€6,701 | -57.3% |
| Suppliers | 440/4 | €11,693 | €4,992 | -€6,701 | -57.3% |
| Advances received on contracts in progress | 46 | €360 | - | -€360 | |
| Taxes, remuneration and social security | 45 | €20,995 | €36,142 | +€15,147 | +72.1% |
| Taxes | 450/3 | €20,995 | €30,227 | +€9,232 | +44.0% |
| Remuneration and social security | 454/9 | - | €5,915 | +€5,915 | |
| Other amounts payable | 47/48 | €15,036 | €14,626 | -€410 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,323 | €5,772 | +€4,450 | +336.4% |
| Other operating charges | 640/8 | €3,629 | €7,502 | +€3,873 | +106.7% |
| Gross operating margin | 9900 | €32,154 | €24,322 | -€7,832 | -24.4% |
| Operating profit (loss) | 9901 | €27,203 | €11,048 | -€16,154 | -59.4% |
| Financial income | 75/76B | €93 | €150 | +€58 | +62.7% |
| Recurring financial income | 75 | €93 | €150 | +€58 | +62.7% |
| Financial charges | 65/66B | €2,837 | €3,435 | +€598 | +21.1% |
| Recurring financial charges | 65 | €2,837 | €3,435 | +€598 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €24,458 | €7,764 | -€16,694 | -68.3% |
| Income taxes | 67/77 | €6,570 | €2,464 | -€4,106 | -62.5% |
| Profit (loss) for the period | 9904 | €17,887 | €5,299 | -€12,588 | -70.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,887 | €5,299 | -€12,588 | -70.4% |
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 9 October 2026 via checked.be.