KARUSA: 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.
KARUSA
Largest movements
- Cash -€2,111
down €2,111 (-45.4%), from €4,649 to €2,538
mainly Net result for the year (-€2,259) and Other debts (-€2,139)
- Tangible fixed assets -€1,760
down €1,760 (-11.3%), from €15,570 to €13,810
of which Other tangible fixed assets: -€1,440
- Profit (loss) carried forward -€2,259
new in 2025: -€2,259
- Other debts -€2,139
down €2,139 (-14.5%), from €14,742 to €12,603
- Trade debts +€379
up €379 (+288.6%), from €131 to €510
- Gross operating margin -€6,103
down €6,103 (-97.5%), from €6,261 to €158
- Taxes -€846
no longer reported in 2025 (was €846)
- Depreciation -€788
down €788 (-28.3%), from €2,787 to €1,999
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 | €21,219 | €17,348 | -€3,871 | -18.2% |
| Fixed assets | 21/28 | €15,570 | €13,810 | -€1,760 | -11.3% |
| Tangible fixed assets | 22/27 | €15,570 | €13,810 | -€1,760 | -11.3% |
| Plant, machinery and equipment | 23 | €470 | €350 | -€120 | -25.5% |
| Furniture and vehicles | 24 | €800 | €600 | -€200 | -25.0% |
| Other tangible fixed assets | 26 | €14,300 | €12,860 | -€1,440 | -10.1% |
| Current assets | 29/58 | €5,649 | €3,538 | -€2,111 | -37.4% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,649 | €2,538 | -€2,111 | -45.4% |
| Total equity and liabilities | 10/49 | €21,219 | €17,348 | -€3,871 | -18.2% |
| Equity | 10/15 | €4,255 | €1,996 | -€2,259 | -53.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €2,255 | €2,255 | = | 0.0% |
| Distributable reserves | 133 | €2,255 | €2,255 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,259 | -€2,259 | |
| Amounts payable | 17/49 | €16,964 | €15,352 | -€1,613 | -9.5% |
| Amounts payable within one year | 42/48 | €16,364 | €14,752 | -€1,613 | -9.9% |
| Trade debts | 44 | €131 | €510 | +€379 | +288.6% |
| Suppliers | 440/4 | €131 | €510 | +€379 | +288.6% |
| Taxes, remuneration and social security | 45 | €1,491 | €1,638 | +€148 | +9.9% |
| Taxes | 450/3 | €1,491 | €1,638 | +€148 | +9.9% |
| Other amounts payable | 47/48 | €14,742 | €12,603 | -€2,139 | -14.5% |
| Accrued charges and deferred income | 492/3 | €600 | €600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,787 | €1,999 | -€788 | -28.3% |
| Other operating charges | 640/8 | €373 | €419 | +€46 | +12.2% |
| Gross operating margin | 9900 | €6,261 | €158 | -€6,103 | -97.5% |
| Operating profit (loss) | 9901 | €3,100 | -€2,260 | -€5,360 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +188.2% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +188.2% |
| Financial charges | 65/66B | €0 | €0 | +€0 | +80.0% |
| Recurring financial charges | 65 | €0 | €0 | +€0 | +80.0% |
| Profit (loss) for the period before taxes | 9903 | €3,101 | -€2,259 | -€5,360 | |
| Income taxes | 67/77 | €846 | - | -€846 | |
| Profit (loss) for the period | 9904 | €2,255 | -€2,259 | -€4,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,255 | -€2,259 | -€4,514 |
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 4 October 2026 via checked.be.